Best SBA banks for small business loans over $50,000

Last quarterly update: Nov 12, 2018

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)

SBA lenders could charge a maximum interest rate of 9.4% for their large loans in 2017. 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 25 banks are well under that rate.


2018 RankBankCitySTAvg IntAvg Loan
1MainSource BankGreensburgIN4.8%$450,909
2Mountain America FCUWest JordanUT5.3%$547,818
3ESL FCURochesterNY5.3%$230,016
4Consumers National BankMinervaOH5.5%$156,577
5People's United BankBridgeportCT5.5%$286,069
6The Adirondack TrustSaratoga SpringsNY5.6%$138,538
7Community Bank of MississippiForestMS5.6%$339,346
8Independent BankMckinneyTX5.6%$764,658
9Associated BankGreen BayWI5.7%$206,275
10MUFG Union BankSan FranciscoCA5.7%$1,427,628
11CoBiz BankDenverCO5.7%$787,908
12Optima Bank & Trust CompanyPortsmouthNH5.7%$152,167
13The State BankFentonMI5.7%$642,709
14Salem Five Cents Savings BankSalemMA5.7%$452,227
15BancorpSouth BankTupeloMS5.7%$658,852
16UMB BankKansas CityMO5.7%$834,377
17First Financial BankCincinnatiOH5.7%$324,744
18The Lyons National BankLyonsNY5.8%$186,387
19Randolph-Brooks FCULive OakTX5.8%$623,967
20Bangor Savings BankBangorME5.8%$206,507
22First Mid-Illinois Bank & TrustMattoonIL5.8%$314,369
23First National Bank of OmahaOmahaNE5.8%$484,988
24Arvest BankFayettevilleAR5.8%$707,929
25Commerce State BankWest BendWI5.9%$979,846


Lowest Cost SBA Banks – Large Loan and Shorter Maturities

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

SBA lenders can charge a maximum interest rate of 8.9% 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.


2018 RankBankCitySTAvg IntAvg Loan
1Republic Bank & TrustLouisvilleKY5.3%$170,727
2Southern Bank and TrustMount OliveNC5.4%$143,133
3The Canandaigua National Bank and TrustCanandaiguaNY5.4%$211,933
4Community Bank of MississippiForestMS5.6%$248,444
5BancorpSouth BankTupeloMS5.7%$518,638
6CitibankSioux FallsSD5.7%$662,444
7The Lyons National BankLyonsNY5.8%$88,100
8People's United BankBridgeportCT5.8%$801,073
9First National Bank of OmahaOmahaNE5.8%$306,769
10Opportunities CUWinooskiVT5.9%$75,444
11Chemical BankMidlandMI5.9%$244,511
12Primary BankBedfordNH5.9%$348,929
13Cambridge Savings BankCambridgeMA5.9%$328,375
14UMB BankKansas CityMO6.0%$116,450
15Signature BankRosemontIL6.0%$346,145
16BB&TWinston SalemNC6.0%$453,354
17Regions BankBirminghamAL6.0%$1,305,556
18First Financial BankCincinnatiOH6.0%$368,656
19First American BankElk Grove VillageIL6.0%$965,750
20Bank of BridgerBridgerMT6.1%$133,700
21Bar Harbor Bank & TrustBar HarborME6.1%$173,725
22Bank of Glen UllinGlen UllinND6.2%$293,500
23Wells FargoSioux FallsSD6.2%$269,991
24Genesee Regional BankRochesterNY6.3%$153,889
25Webster BankWaterburyCT6.3%$356,215