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Small business loans are available from many SBA lenders. Here are the most active Nashville SBA lenders:
Top SBA Lenders in Nashville
| Rank | SBA Lender | SBA Lender HQs | # Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|---|
| 1 | Newtek Bank | Miami, FL | 58 | $460,897 | 11.5% |
| 2 | U.S. Bank | Cincinnati, OH | 56 | $367,150 | 9.6% |
| 3 | Huntington Bank | Columbus, OH | 21 | $496,924 | 10.3% |
| 4 | BayFirst National Bank | Saint Petersburg, FL | 19 | $130,774 | 12.7% |
| 5 | Readycap Lending, LLC | Berkeley Heights, NJ | 19 | $107,868 | 12.9% |
| 6 | Pinnacle Bank | Nashville, TN | 16 | $1,589,338 | 9.6% |
| 7 | Northeast Bank | Lewiston, ME | 13 | $109,700 | 11.0% |
| 8 | America First Federal Credit Union | Brookline, MA | 12 | $1,547,500 | 10.9% |
| 9 | Beacon Bank | Brookline, MA | 12 | $1,547,500 | 10.9% |
| 10 | Brookline, MA | 12 | $1,547,500 | 10.9% | |
| 11 | Lendistry SBLC | Los Angeles, CA | 12 | $202,808 | 12.3% |
| 12 | Live Oak | Wilmington, NC | 11 | $1,431,455 | 9.3% |
| 13 | Old National Bank | Evansville, IN | 9 | $1,277,267 | 9.1% |
| 14 | Regions Bank | Birmingham, AL | 8 | $726,400 | 8.4% |
| 15 | Celtic Bank | Salt Lake City, UT | 8 | $501,088 | 11.0% |
| 16 | United Midwest Savings Bank | De Graff, OH | 8 | $218,750 | 10.4% |
| 17 | Bank of America | Charlotte, NC | 7 | $1,027,414 | 7.5% |
| 18 | SouthState Bank | Winter Haven, FL | 6 | $223,333 | 10.7% |
| 19 | First Bank of the Lake | Osage Beach, MO | 4 | $1,333,700 | 10.3% |
| 20 | FWBank | Chicago, IL | 4 | $827,225 | 9.9% |
Top Industries for SBA Loans in Nashville
| Rank | Industry | # Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|
| 18 | All Other Amusement and Recreation Industries | 6 | $644,850 | 10.8% |
| 11 | All Other General Merchandise Retailers | 3 | $511,667 | 10.3% |
| 20 | All Other Personal Services | 3 | $256,667 | 10.8% |
| 19 | All Other Professional, Scientific, and Technical Services | 5 | $70,800 | 11.0% |
| 17 | Beer, Wine, and Liquor Retailers | 6 | $166,667 | 11.0% |
| 2 | Building Inspection Services | 2 | $50,000 | 12.5% |
| 9 | Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance | 2 | $908,000 | 9.0% |
| 12 | Commercial and Institutional Building Construction | 2 | $100,000 | 12.3% |
| 15 | Commercial Printing (except Screen and Books) | 4 | $1,200,000 | 10.5% |
| 4 | Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services | 2 | $1,262,500 | 8.8% |
| 11 | Convenience Retailers | 5 | $187,400 | 10.3% |
| 3 | Executive Search Services | 4 | $50,000 | 14.3% |
| 5 | Exterminating and Pest Control Services | 2 | $1,955,000 | 9.5% |
| 2 | Flower, Nursery Stock, and Florists’ Supplies Merchant Wholesalers | 2 | $384,900 | 8.3% |
| 7 | Food Service Contractors | 2 | $175,000 | 10.3% |
| 1 | Formal Wear and Costume Rental | 4 | $325,000 | 11.5% |
| 12 | Gasoline Stations with Convenience Stores | 2 | $732,500 | 9.7% |
| 20 | Hotels (except Casino Hotels) and Motels | 5 | $4,398,760 | 8.8% |
| 1 | Linen Supply | 4 | $800,000 | 10.5% |
| 18 | Marketing Consulting Services | 2 | $150,000 | 11.4% |
| 8 | Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers | 2 | $50,000 | 9.5% |
| 12 | Mobile Food Services | 2 | $127,500 | 11.0% |
| 17 | New Single-Family Housing Construction (except For-Sale Builders) | 3 | $715,900 | 10.3% |
| 17 | Offices of Certified Public Accountants | 3 | $2,205,500 | 9.5% |
| 16 | Offices of Chiropractors | 3 | $216,667 | 11.4% |
| 16 | Offices of Real Estate Agents and Brokers | 3 | $33,667 | 11.0% |
| 18 | Other Accounting Services | 4 | $54,075 | 13.1% |
| 7 | Other Miscellaneous Durable Goods Merchant Wholesalers | 2 | $1,323,700 | 9.8% |
| 2 | Other Performing Arts Companies | 2 | $1,240,250 | 8.6% |
| 15 | Other Services to Buildings and Dwellings | 3 | $640,867 | 8.3% |
| 6 | Other Specialized Design Services | 4 | $210,000 | 11.5% |
| 4 | Other Technical and Trade Schools | 4 | $60,000 | 10.5% |
| 19 | Pet Care (except Veterinary) Services | 2 | $350,000 | 10.0% |
| 14 | Residential Property Managers | 3 | $610,000 | 10.3% |
| 12 | Tax Preparation Services | 2 | $1,082,500 | 12.3% |
| 3 | Toy and Hobby Goods and Supplies Merchant Wholesalers | 2 | $1,137,500 | 9.1% |
| 2 | Web Search Portals and All Other Information Services | 2 | $912,750 | 9.5% |
Many entrepreneurs search SbaLenders.com for “business loans near me” or “SBA lenders near me,” but the reality is often times the best banks for Nashville SBA loans are not local, but national SBA preferred lenders. Connect with us and we can connect you today with local or national SBA banks that are small business loan experts.
Connect me to a Nashville lender!
Introduction
Small businesses are the backbone of Nashville’s thriving economy. As the city continues to grow, so does the demand for reliable financing. SBA loans in Nashville, TN serve as a lifeline for entrepreneurs looking to launch, expand, or stabilize their businesses. With flexible terms and government backing, SBA loans empower business owners across Music City to seize opportunities and drive long-term success.
SBA Lending in Nashville TN: Last Year Overview
Nashville demonstrated strong SBA loan activity in the past year, reflecting a robust business climate and lender engagement. Based on SBA loan data:
- Total SBA Loans Issued: $219,335,900
- Number of SBA Loans: 272
- Average Loan Amount: $806,415
- Average Interest Rate: 7.81%
- Jobs Supported: 2,331
Nashville ranked #30 nationally on SBAlenders.com for SBA loan volume, reinforcing its status as a major small business hub.
Success Stories of Small Businesses in Nashville TN
Five Nashville-based businesses stood out in 2023 for supporting the most jobs with their SBA loan funds. These success stories highlight the potential impact of SBA financing on local employment and economic growth:
- SkillStorm Commercial Services, LLC – 178 jobs supported
- EcoGreen Facility Services, Inc. – 146 jobs supported
- Iron Gate Enterprises, LLC – 132 jobs supported
- BrightPath Solutions Group – 124 jobs supported
- TrueCore Technologies, LLC – 117 jobs supported
These businesses leveraged SBA funding to expand their teams and contribute significantly to job creation in Nashville.
Overview of SBA Loan Program in Nashville TN
The SBA 7(a) loan remains the most sought-after financing solution for Nashville small businesses due to its flexibility and broad eligibility. Here are key program highlights:
- Loan Amounts: Up to $5 million
- Terms: 10 years for equipment or working capital; 25 years for real estate
- Down Payment: Generally 10%–20%
- Common Uses: Buy a business, purchase equipment, commercial property, working capital
- Credit Score: 680+ preferred
- Collateral: Not required, though lenders secure available assets
- Interest Rates: Negotiable within SBA limits – see SBA interest rates
- Repayment Ability: Must show EBITDA 115%+ of loan payment – use our SBA loan payment calculator
Compared to conventional loans, SBA options offer lower down payments, longer terms, and fewer covenants. Explore more on the differences between SBA loans vs conventional loans.
Surrounding Areas
Nashville’s business influence extends into its surrounding communities. Here are 15 nearby cities and towns by population, listed alphabetically:
- Brentwood
- Clarksville
- Columbia
- Franklin
- Gallatin
- Hendersonville
- La Vergne
- Lebanon
- Mount Juliet
- Murfreesboro
- Smyrna
- Springfield
- Spring Hill
- Thompson’s Station
- White House
Resources for Small Businesses in Nashville TN
Entrepreneurs in Nashville can tap into several valuable resources for business development and SBA loan support:
- SBA Tennessee District Office – Offers workshops, loan guidance, and SBA program information
- Nashville SCORE Chapter – Free business mentoring from experienced professionals
- Tennessee SBDC (TSBDC) at Middle Tennessee State University – No-cost consulting, training, and market analysis
- Launch Tennessee & Nashville Entrepreneur Center – Public-private partnerships providing startup support and capital connections
- Pathway Lending – A mission-driven lender offering SBA loans and business coaching
SBA Lenders in Nashville TN
SBA loans in Nashville give entrepreneurs the financial flexibility to take on new projects and scale their businesses. Traditional business loans can be difficult to qualify for, but SBA lenders in Nashville are experienced in helping both new and growing businesses access affordable funding across various industries.
Through the SBA 7(a) and 504 programs, Nashville SBA lenders provide up to $5 million in financing that can be used for buying real estate, purchasing equipment, covering payroll, and more.
Looking for SBA lenders near me in Nashville TN? Let us connect you to trusted SBA lenders who offer competitive terms and quick approvals:
Connect me to a Nashville lender!
Summary
With its booming economy and strong entrepreneurial spirit, Nashville TN continues to be a top destination for small business success. SBA loans are a key part of that growth, providing business owners with affordable capital, expert lender support, and the flexibility to thrive in any industry. Whether you need funds to expand, hire, or invest, now is the perfect time to explore your options with top SBA lenders in Nashville TN.