Top 40 Banks for Restaurant SBA Loans

Last quarterly update: Feb 9, 2018

As increasing numbers of consumers want to dine out or take prepared food home, the number of food-service operations has skyrocketed from 155,000 about 40 years ago to nearly 960,000 today. But there’s still room in the market for your food-service business. But to start your dream restaurant, it help to know where to look for funding. The failure rate of restaurants is the highest of any industry, so many banks shy away from making any restaurant loans. However, there are many banks who really understand the dynamics of the business. Start your research with banks who get your business and can enable your dream. Here are our top 40 banks you can consider for a restaurant loan and the amount of loan volume they have done in your industry:


1) The Huntington National Bank — Columbus, OH
Year to date: 59 loans, $165,307 average loan, average interest rate of 5.6%

Huntington National Bank has been the #1 SBA lender for the past eight years in their region. Their SBA team of professionals provides creative SBA lending solutions for all types of businesses. Huntington is confident that they can offer superior turnaround time that most often exceeds the market competition.


2) Fifth Third Bank — Cincinnati, OH
Year to date: 10 loans, $571, 840 average loan, average interest rate of 6.04%

Whether you’re starting a business, managing your business’s growth or even buying a business, you’ll need financing—a small business loan or business line of credit. An SBA loan from Fifth Third can make all the difference. Backed by the Small Business Administration, SBA loans and lines of credit offer more flexible borrowing amounts and repayment options, which usually mean lower monthly payments for you.


3) NewBank — New York City, NY
Year to date: 48 loans, $1,315,521 average loan, average interest rate of 5.8%

With a loan amount up to $5,000,000 and term up to 10 years for business loans and 25 years for real estate purchase, this bank is in no doubt, in the position to help you grow and start your grocery store. NewBank was also an SBA Pinnacle Award Winner in 2013-2016.


4) PNC Bank — Wilmington, DE
Year to date: 22 loans, $144, 195 average loan, average interest rate of 6.80%

PNC has a long history of helping business customers match their financing needs with the appropriate SBA lending program.  Start a conversation with a PNC Business Banker about an SBA loan that makes sense for your current and future business objectives.


5) Eastern Bank — Boston, MA
Year to date: 21 loans, $81, 043 average loan, average interest rate of 8.76%

To help businesses that may not qualify for conventional loans get the funds they need to start, grow and expand, Eastern offers small business loans backed by the SBA. Eastern Banks’s experience with processing and servicing SBA-guaranteed loans has earned it preferred lender status allowing the bank to expedite the loan approval process.


If you’re still undecided, here’s our complete list of banks to help you open up your restaurant:

Industry RankSBA RankBankCityStateAvg Loan $# of LoansAvg Interest
4037Open BankLos AngelesCA$781,391115.75
13The Huntington National BankColumbusOH$218,5302476.26
24JPMorgan Chase BankColumbusOH$339,1991436.77
311TD BankWilmingtonDE$135,5751248.92
41Wells FargoSioux FallsSD$175,416838.90
610Compass BankBirminghamAL$107,715658.22
713Bank of HopeLos AngelesCA$238,259566.00
9140Santander BankWilmingtonDE$94,849438.43
106Celtic BankSalt Lake CityUT$440,935346.88
1112First Home BankSeminoleFL$312,226316.81
1239Independence BankEast GreenwichRI$130,645316.96
137Byline BankChicagoIL$958,207296.70
148Newtek Small Business FinanceLake SuccessNY$532,154286.80
1523Stearns BankSaint CloudMN$323,173266.80
165U.S. BankCincinnatiOH$239,968256.57
1726Hanmi BankLos AngelesCA$422,833246.40
189SunTrust BankAtlantaGA$884,643235.96
1932Fifth Third BankCincinnatiOH$380,791225.24
2028NewBankNew York CityNY$648,500225.97
2176PNC BankWilmingtonDE$144,195226.80
2274Eastern BankBostonMA$81,043218.76
2325Berkshire BankPittsfieldMA$427,639186.24
2416Commonwealth Business BankLos AngelesCA$524,444185.93
2552East West BankPasadenaCA$443,861186.46
2617Pacific City BankLos AngelesCA$458,206176.29
2740First BankSouthern PinesNC$1,094,675165.81
2814Seacoast Commerce BankSan DiegoCA$844,669166.09
2998CitibankSioux FallsSD$60,000157.77
3062First National Bank of PennsylvaniaGreenvillePA$393,427156.23
3150Zions BankSalt Lake CityUT$361,767157.43
3294BB&TWinston SalemNC$291,777135.26
3357Citizens BankProvidenceRI$206,000136.01
3430Hana Small Business LendingLos AngelesCA$368,462136.08
3533Noah BankElkins ParkPA$783,462136.31
3695Republic BankPhiladelphiaPA$1,082,538136.13
37153MainSource BankGreensburgIN$402,217124.81
38267Sunrise BanksSaint PaulMN$277,583126.04
39331Main Street LaunchOaklandCA$177,636117.61

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