Top Banks for SBA Loans for Retailers

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The retail industry is a tough one for many SBA lenders. The lenders that do provide loans to retailers focus on retailers with substantial hard assets and/or retailers with recurring customers (e.g., gas stations, supermarkets, pharmacies). What was already a tough environment has been made even tough with the coronavirus pandemic, as banks are wanting to see retailers open, operational, and generating revenues and profits at close to pre-covid levels in order to lend.

Top banks serving retailers:

RankBank# LoansAvg LoanAvg RateTerm (Mos)
1Wells Fargo452$147,11310.0%129
2TD Bank365$108,73710.0%121
3The Huntington National Bank358$186,7587.3%131
4U.S. Bank266$198,7047.9%102
5JPMorgan Chase Bank209$227,4428.6%116
6M&T207$140,4798.8%108
7First Home Bank149$261,1178.1%121
8Newtek Small Business Finance118$653,3538.3%166
9Bank of Hope111$430,6507.4%134
10Celtic Bank105$1,008,2787.7%203
11Independence Bank94$141,2236.5%120
12Commonwealth Business Bank93$943,8716.9%212
13Five Star Bank67$238,0978.0%125
14Hanmi Bank62$707,3637.1%180
15Pacific City Bank62$1,176,3876.9%236
16Live Oak60$1,503,9177.3%136
17Eastern Bank55$79,3169.8%72
18Byline Bank52$1,169,8067.9%186
19Columbia State Bank52$201,1407.7%121
20Citizens Bank50$814,3517.5%202

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Top retailing businesses obtaining SBA loans:

RankIndustry# LoansAvg LoanAvg RateAvg Term(Mos)
1Gasoline Stations with Convenience Stores569$1,251,2247.1%247
2Beer, Wine, and Liquor Stores547$640,1267.5%155
3Electronic Shopping and Mail-Order Houses484$304,7118.9%121
4Pharmacies and Drug Stores330$646,8447.5%125
5Supermarkets (except Convenience) Stores291$536,0427.5%144
6Convenience Stores286$370,3417.8%163
7All Other Misc Retailers (except Tobacco Stores)238$243,5517.8%121
8Used Car Dealers217$322,3578.3%159
9Sporting Goods Stores187$256,1327.5%120
10All Other Specialty Food Stores167$274,5087.5%113
11Automotive Parts and Accessories Stores164$330,9227.5%136
12Women's Clothing Stores145$161,5228.5%117
13Other Direct Selling Establishments138$338,4307.7%119
14Other Building Material Dealers135$455,7987.6%130
15Cosmetics, Beauty Supplies, and Perfume Stores135$304,8568.3%118
16Other Clothing Stores116$211,7608.0%124
17Hardware Stores113$550,0247.2%142
18Pet and Pet Supplies Stores113$436,3127.8%125
19Furniture Stores111$449,2127.9%128
20Baked Goods Stores102$381,0547.6%121
21Gift, Novelty, and Souvenir Stores100$267,9908.0%122
22Jewelry Stores94$351,1728.5%117
23Vending Machine Operators78$370,2038.1%114
24Florists75$127,8018.1%120
25Tire Dealers74$547,2207.4%158
26Meat Markets68$393,3757.8%136
27Electronics Stores68$319,6568.4%117
28Floor Covering Stores67$295,7577.4%124
29All Other Home Furnishings Stores66$271,6558.0%127
30Shoe Stores64$305,4987.8%125
31Used Merchandise Stores63$201,3277.6%129
32Nursery and Garden Centers62$355,8477.1%132
33All Other Health and Personal Care Stores61$348,7088.2%120
34Food (Health) Supplement Stores57$207,9918.3%110
35All Other General Mdse Stores52$272,0818.2%127
36Tobacco Stores51$184,7658.3%108
37Hobby, Toy, and Game Stores50$160,0728.3%111
38Window Treatment Stores45$237,4607.8%122
39Clothing Accessories Stores44$91,0648.5%105
40Family Clothing Stores43$285,2197.2%129