Best SBA banks for loans over $50,000

Last quarterly update: Dec 15, 2017

We have crunched the numbers and are pleased report the lowest cost Small Business Administration (SBA) lenders so far this year. Many of the names on the list aren’t the high volume SBA banks that are household names, so many of these are banks off the beaten path but they may you save thousands. The maximum rate a bank can charge for an SBA loan is mandated by the SBA, and the those rates are determined by the principal and the term of the loan. We won’t bore you with all the details here but if curious about learning more about SBA loan rates check out our post at


Lowest Cost SBA Banks – Large Loans and Long Maturities

(Loans over $50,000 with terms of 7 years or longer)

Currently, SBA lenders can charge a maximum interest rate of 8.94% for their large loans. So far this year 66% of all SBA loans are over $50,000 and over 90% of the loans over $50,000 are term loans of seven years or longer. These top 15 banks are well under that rate.


RankBankBank CityStateAvg InterestAvg Loan# Loans
1MainSource BankGreensburgIN4.55%388,34040
2MUFG Union BankSan FranciscoCA5.14%1,308,56554
3Shinhan Bank AmericaNew York CityNY5.14%654,87524
4German AmericanJasperIN5.16%200,40923
5BancorpSouth BankTupeloMS5.25%491,37037
6Nicolet National BankGreen BayWI5.31%268,08520
7UMB BankKansas CityMO5.32%542,64520
8Mountain America FCUWest JordanUT5.34%522,54637
9Bangor Savings BankBangorME5.37%292,81029
10CoBiz BankDenverCO5.38%754,60839
11ESL FCURochesterNY5.39%235,12921
12BB&TWinston SalemNC5.41%392,55472
13Citizens Bank of PennsylvaniaPhiladelphiaPA5.42%300,25966
14Community Trust BankPikevilleKY5.44%495,86520
15Fifth Third BankCincinnatiOH5.46%518,414181
16Pinnacle BankMorgan HillCA5.48%1,410,67044
17State Bank and TrustMaconGA5.51%712,85872
18Uniti BankBuena ParkCA5.52%991,61249
19Summit CUMadisonWI5.54%277,38127
2021st Century BankLorettoMN5.54%432,82236
21Citizens BankProvidenceRI5.54%216,708255
22Great Western BankWatertownSD5.54%742,15922
23Chemical BankMidlandMI5.55%592,22693
24Open BankLos AngelesCA5.56%1,178,38989
25Cathay BankLos AngelesCA5.56%1,056,10020


Lowest Cost SBA Banks – Large Loan and Shorter Maturities

(Loans over $50,000 with terms of less than 7 years)

Currently, SBA lenders can charge a maximum interest rate of 8.44% for their large loans. These top 15 banks are well under that rate, so consider these lenders to save money if you need a small SBA loan.


RankBankBank CityStateAvg RateAvg Loan# Loans
1MainSource BankGreensburgIN4.85%301,83324
2Fifth Third BankCincinnatiOH5.03%109,78222
3People's United BankBridgeportCT5.05%384,59031
4CitibankSioux FallsSD5.15%694,70730
5Citizens BankProvidenceRI5.24%165,54351
6BB&TWinston SalemNC5.29%712,54323
7Horizon BankMichigan CityIN5.41%187,85020
8Union Bank & TrustRichmondVA5.49%216,74025
91st Source BankSouth BendIN5.55%121,28539
10Whitney BankGulfportMS5.59%399,29522
11Rockland Trust CompanyRocklandMA5.62%116,53132
12The Huntington National BankColumbusOH5.66%92,019314
13BancFirstOklahoma CityOK5.78%560,99029
14JPMorgan Chase BankColumbusOH5.89%212,25974
15Banner BankWalla WallaWA6.01%168,71844
16Wells FargoSioux FallsSD6.10%264,383120
17U.S. BankCincinnatiOH6.17%119,34833
18Bank of HopeLos AngelesCA6.36%153,12564
20PNC BankWilmingtonDE6.65%136,33877