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

Last quarterly update: May 22, 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 Rank2017 RankBankCitySTAvg InAvg Loan
11MainSource BankGreensburgIN4.83450,909
24People's United BankBridgeportCT4.96314,973
310Mountain America FCUWest JordanUT5.04415,661
418CoBiz BankDenverCO5.20847,125
513BancorpSouth BankTupeloMS5.241,084,867
66MUFG Union BankSan FranciscoCA5.331,503,615
730Arvest BankFayettevilleAR5.35962,936
814Independent BankMckinneyTX5.611,132,643
946East West BankPasadenaCA5.721,072,130
1016Old National BankEvansvilleIN5.721,205,871
1128Chemical BankMidlandMI5.75588,600
1220BB&TWinston SalemNC5.78363,970
1336Metro City BankDoravilleGA5.821,557,493
1450First IC BankDoravilleGA5.891,234,022
1544Capital OneMcleanVA5.89763,504
1674Wells FargoSioux FallsSD5.92874,796
177Shinhan Bank AmericaNew York CityNY5.93333,182
1822Fifth Third BankCincinnatiOH5.95342,215
1921Pinnacle BankMorgan HillCA5.971,497,281
2041Open BankLos AngelesCA5.971,064,175
2171Eastern BankBostonMA5.98382,538
2282Pacific Western BankBeverly HillsCA5.981,096,829
2327Citizens Bank of PennsylvaniaPhiladelphiaPA6.03500,407
2445Banner BankWalla WallaWA6.03241,541
2589Webster BankWaterburyCT6.03457,405


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 Rank2017 RankBankCitySTAvg InAvg Loan
14CitibankSioux FallsSD5.651,017,364
26BB&TWinston SalemNC5.87164,008
3NRLake City BankWarsawIN6.05233,500
424Wells FargoSioux FallsSD6.17330,050
523Banner BankWalla WallaWA6.22132,138
630PNC BankWilmingtonDE6.30181,193
722JPMorgan Chase BankColumbusOH6.32262,931
88Citizens BankProvidenceRI6.36118,125
916Huntington NationalColumbusOH6.4091,178
1025U.S. BankCincinnatiOH6.57143,162
1126Bank of HopeLos AngelesCA6.9195,128
1332TD BankWilmingtonDE7.62101,745
1433Santander BankWilmingtonDE8.08136,904
1534Eastern BankBostonMA8.53118,291