Connect me to a Columbus lender!
Small business loans are available from many SBA lenders. Here are the most active Columbus SBA lenders:
Top SBA Lenders in Columbus
| Rank | SBA Lender | SBA Lender HQs | # Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|---|
| 1 | Huntington Bank | Columbus, OH | 354 | $219,209 | 10.2% |
| 2 | Telhio Credit Union | Columbus, OH | 60 | $182,738 | 10.5% |
| 3 | U.S. Bank | Cincinnati, OH | 56 | $172,907 | 10.0% |
| 4 | KeyBank | Cleveland, OH | 31 | $216,958 | 11.1% |
| 5 | United Midwest Savings Bank | De Graff, OH | 16 | $535,375 | 10.6% |
| 6 | Newtek Bank | Miami, FL | 14 | $156,429 | 11.1% |
| 7 | Northeast Bank | Lewiston, ME | 13 | $69,100 | 11.0% |
| 8 | The Union Bank Company | Columbus Grove, OH | 10 | $490,700 | 9.8% |
| 9 | German American | Jasper, IN | 10 | $272,800 | 9.0% |
| 10 | Northwest Bank | Warren, PA | 9 | $1,202,222 | 11.0% |
| 11 | First Commonwealth Bank | Indiana, PA | 9 | $796,800 | 10.1% |
| 12 | JPMorgan Chase Bank | Columbus, OH | 9 | $281,978 | 11.6% |
| 13 | Readycap Lending, LLC | Berkeley Heights, NJ | 9 | $244,889 | 13.4% |
| 14 | Buckeye State Bank | Powell, OH | 7 | $286,543 | 9.5% |
| 15 | Port 51 Lending | New York, NY | 6 | $2,700,000 | 9.6% |
| 16 | New York, NY | 6 | $2,700,000 | 9.6% | |
| 17 | Associated Bank | New York, NY | 6 | $2,700,000 | 9.6% |
| 18 | Celtic Bank | Salt Lake City, UT | 6 | $1,193,250 | 10.1% |
| 19 | Fifth Third Bank | Cincinnati, OH | 6 | $488,000 | 10.1% |
| 20 | First Merchants Bank | Indianapolis, IN | 5 | $599,000 | 12.1% |
Top Industries for SBA Loans in Columbus
| Rank | Industry | # Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|
| 10 | Administrative Management and General Management Consulting Services | 2 | $82,500 | 10.0% |
| 8 | All Other Amusement and Recreation Industries | 15 | $378,367 | 10.6% |
| 3 | All Other Automotive Repair and Maintenance | 4 | $496,375 | 11.0% |
| 7 | All Other Miscellaneous Retailers | 2 | $27,500 | 12.8% |
| 2 | All Other Miscellaneous Wood Product Manufacturing | 2 | $253,850 | 9.5% |
| 10 | All Other Personal Services | 5 | $116,600 | 10.3% |
| 11 | All Other Specialty Trade Contractors | 9 | $270,867 | 9.8% |
| 4 | Apparel Accessories and Other Apparel Manufacturing | 4 | $250,000 | 10.0% |
| 9 | Automotive Body, Paint, and Interior Repair and Maintenance | 2 | $25,000 | 9.0% |
| 5 | Barber Shops | 6 | $65,000 | 9.1% |
| 15 | Beauty Salons | 7 | $86,043 | 10.6% |
| 9 | Beer, Wine, and Liquor Retailers | 3 | $48,333 | 11.5% |
| 1 | Books Printing | 2 | $144,850 | 9.1% |
| 5 | Breweries | 3 | $686,767 | 9.8% |
| 11 | Child Care Services | 8 | $429,650 | 9.1% |
| 12 | Clothing and Clothing Accessories Retailers | 8 | $225,700 | 10.3% |
| 1 | Computer Facilities Management Services | 3 | $723,667 | 10.1% |
| 5 | Convenience Retailers | 4 | $158,750 | 10.4% |
| 5 | Cosmetics, Beauty Supplies, and Perfume Retailers | 3 | $365,000 | 9.4% |
| 4 | Couriers and Express Delivery Services | 3 | $133,633 | 9.9% |
| 8 | Drinking Places (Alcoholic Beverages) | 2 | $250,000 | 10.3% |
| 5 | Drywall and Insulation Contractors | 2 | $50,000 | 12.5% |
| 10 | Electrical Contractors and Other Wiring Installation Contractors | 4 | $182,000 | 10.2% |
| 2 | Electronic and Precision Equipment Repair and Maintenance | 2 | $64,000 | 10.4% |
| 15 | Fitness and Recreational Sports Centers | 11 | $2,978,582 | 8.6% |
| 7 | Flooring Contractors | 5 | $110,800 | 9.5% |
| 3 | Freight Transportation Arrangement | 4 | $492,350 | 9.6% |
| 16 | Full-Service Restaurants | 19 | $323,853 | 9.8% |
| 1 | Gasket, Packing, and Sealing Device Manufacturing | 2 | $393,750 | 9.5% |
| 9 | General Automotive Repair | 8 | $81,213 | 10.9% |
| 9 | General Freight Trucking, Local | 10 | $105,120 | 10.8% |
| 8 | General Freight Trucking, Long-Distance, Truckload | 10 | $140,090 | 10.9% |
| 4 | Graphic Design Services | 2 | $185,000 | 9.7% |
| 11 | Home Health Care Services | 20 | $722,860 | 9.8% |
| 10 | Hotels (except Casino Hotels) and Motels | 16 | $4,087,750 | 8.9% |
| 4 | Independent Artists, Writers, and Performers | 2 | $10,500 | 10.5% |
| 13 | Insurance Agencies and Brokerages | 3 | $107,400 | 10.1% |
| 1 | Landscape Architectural Services | 2 | $405,000 | 9.5% |
| 9 | Landscaping Services | 2 | $83,000 | 9.8% |
| 15 | Limited-Service Restaurants | 15 | $221,500 | 10.5% |
| 3 | Machine Shops | 3 | $2,296,000 | 9.4% |
| 9 | Marketing Consulting Services | 2 | $138,400 | 10.1% |
| 6 | Mobile Food Services | 3 | $63,333 | 9.3% |
| 6 | Motion Picture and Video Production | 4 | $30,700 | 10.0% |
| 4 | Nail Salons | 8 | $122,875 | 9.5% |
| 12 | Offices of All Other Miscellaneous Health Practitioners | 3 | $226,167 | 10.0% |
| 9 | Offices of Chiropractors | 2 | $139,150 | 10.1% |
| 9 | Offices of Dentists | 3 | $1,127,000 | 9.5% |
| 7 | Offices of Lawyers | 2 | $85,150 | 10.8% |
| 10 | Offices of Mental Health Practitioners (except Physicians) | 4 | $94,250 | 10.1% |
| 2 | Offices of Other Holding Companies | 2 | $979,500 | 9.5% |
| 12 | Offices of Physicians (except Mental Health Specialists) | 3 | $107,500 | 10.8% |
| 8 | Offices of Real Estate Agents and Brokers | 3 | $201,333 | 9.0% |
| 1 | Ornamental and Architectural Metal Work Manufacturing | 2 | $46,500 | 9.5% |
| 8 | Other Accounting Services | 2 | $150,000 | 10.5% |
| 6 | Other Building Finishing Contractors | 2 | $630,000 | 9.5% |
| 4 | Other Building Material Dealers | 3 | $834,800 | 9.3% |
| 9 | Other Computer Related Services | 2 | $100,000 | 9.9% |
| 11 | Other Personal Care Services | 5 | $1,023,360 | 9.9% |
| 6 | Other Services to Buildings and Dwellings | 2 | $150,000 | 10.3% |
| 2 | Outpatient Mental Health and Substance Abuse Centers | 2 | $758,400 | 7.4% |
| 11 | Painting and Wall Covering Contractors | 4 | $63,750 | 9.6% |
| 3 | Pet and Pet Supplies Retailers | 3 | $726,567 | 10.2% |
| 8 | Pet Care (except Veterinary) Services | 5 | $210,500 | 9.5% |
| 13 | Plumbing, Heating, and Air-Conditioning Contractors | 6 | $329,500 | 9.4% |
| 1 | Printing and Writing Paper Merchant Wholesalers | 2 | $1,166,250 | 10.5% |
| 3 | Remediation Services | 2 | $101,000 | 10.0% |
| 13 | Residential Remodelers | 9 | $106,867 | 9.9% |
| 5 | Retail Bakeries | 3 | $107,500 | 9.6% |
| 5 | Roofing Contractors | 2 | $175,000 | 9.8% |
| 1 | Septic Tank and Related Services | 2 | $200,000 | 9.0% |
| 5 | Services for the Elderly and Persons with Disabilities | 5 | $824,200 | 9.9% |
| 5 | Site Preparation Contractors | 2 | $84,250 | 10.0% |
| 14 | Snack and Nonalcoholic Beverage Bars | 7 | $352,500 | 9.9% |
| 3 | Specialized Freight (except Used Goods) Trucking, Local | 9 | $90,944 | 10.0% |
| 3 | Sporting Goods Retailers | 4 | $175,000 | 10.0% |
| 5 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 5 | $113,900 | 11.0% |
| 6 | Tax Preparation Services | 10 | $87,620 | 12.1% |
| 3 | Wholesale Trade Agents and Brokers | 2 | $67,500 | 9.5% |
Connect me to a Columbus lender!
Top SBA Lenders in Columbus | Columbus SBA Loans
Introduction
Columbus is one of the fastest-growing cities in the Midwest, known for its thriving small business community in industries like technology, healthcare, and manufacturing. However, many entrepreneurs struggle to secure financing. SBA loans in Columbus offer an ideal solution, providing low-interest rates, long repayment terms, and accessible capital for businesses that may not qualify for traditional bank loans. Whether you need funding for expansion, purchasing equipment, or managing working capital, an SBA loan can be a game-changer for your business.
SBA Lending in Columbus: Last Year Overview
SBA loans continue to play a significant role in supporting Columbus small businesses. Here’s an overview of last year’s SBA lending activity:
- Total SBA Loans Issued: $119,578,600
- Number of SBA Loans: 375
- Average Loan Amount: $318,876.27
- Average Interest Rate: 10.64%
- Jobs Supported: 4,146
- SBAlenders.com City Ranking: #20 in the U.S.
These numbers highlight the impact of SBA loans in Columbus, helping business owners gain access to the funding they need while driving job creation and economic development.
Why Lenders Choose Us
Lenders trust us because we simplify the SBA loan process, ensuring businesses secure the best financing options. Here’s why lenders choose to work with us:
- Extensive Network of SBA-Approved Lenders: We connect businesses with the best SBA lenders in Columbus and nationwide.
- Efficient Loan Application Process: Our system streamlines approvals and minimizes paperwork.
- Expert Business Loan Guidance: Our team helps business owners navigate SBA loan requirements to maximize their chances of approval.
- Tailored Loan Matching: We analyze each business’s needs and match them with the most suitable lenders.
- Proven Success: Thousands of businesses have secured SBA funding through our platform, helping them expand and create jobs.
By working with us, lenders can efficiently support small businesses while ensuring successful loan outcomes.
Overview of SBA Loan Program in Columbus
The SBA 7(a) loan program is the most flexible SBA loan option, designed to support various business needs. Here’s what you need to know about SBA loans:
- Loan Size: Up to $5,000,000
- Loan Term: 10 years for non-real estate loans; 25 years for real estate loans
- Interest Rates: Slightly higher than conventional loans, negotiated with lenders within SBA’s maximum interest rate
- Use of Loan Proceeds: Business acquisitions, real estate purchases, equipment financing, debt refinancing, partner buyouts, franchise openings, and working capital
- Down Payment: Typically 10% to 20%
- Credit Score Requirement: 680+ is ideal, with a minimum of 640 for consideration
- Collateral: Not required, but all available collateral must be pledged
SBA loans are designed for businesses that may not qualify under traditional lending standards, offering lower down payments, longer repayment terms, and fewer financial restrictions.
Surrounding Areas
Business owners in nearby areas may also find SBA lending opportunities in these cities:
Bexley, Dublin, Gahanna, Grove City, Groveport, Hilliard, Lancaster, Marysville, New Albany, Pataskala, Pickerington, Reynoldsburg, Upper Arlington, Westerville, Worthington.
Resources for Small Businesses in Columbus
Columbus business owners have access to valuable resources to support their growth:
- Columbus SBA District Office – Provides assistance with SBA loan programs and applications.
- SCORE Columbus – Offers free business mentoring and workshops.
- Small Business Development Centers (SBDC) – Provides consulting services for small businesses.
- Columbus Chamber of Commerce – Connects business owners with networking and funding opportunities.
Summary
SBA loans continue to be a key funding source for small businesses in Columbus, providing necessary capital to fuel business growth and job creation. With competitive interest rates, flexible repayment terms, and strong business support, securing an SBA loan could be the key to your business’s success. If you’re looking for the best SBA lenders in Columbus, explore your options today and take the next step toward securing the right financing.