Last annual update:
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:
| Rank | Bank | # Loans | Avg Loan | Avg Rate | Term (Mos) |
|---|---|---|---|---|---|
| 1 | Wells Fargo | 452 | $147,113 | 10.0% | 129 |
| 2 | TD Bank | 365 | $108,737 | 10.0% | 121 |
| 3 | The Huntington National Bank | 358 | $186,758 | 7.3% | 131 |
| 4 | U.S. Bank | 266 | $198,704 | 7.9% | 102 |
| 5 | JPMorgan Chase Bank | 209 | $227,442 | 8.6% | 116 |
| 6 | M&T | 207 | $140,479 | 8.8% | 108 |
| 7 | First Home Bank | 149 | $261,117 | 8.1% | 121 |
| 8 | Newtek Small Business Finance | 118 | $653,353 | 8.3% | 166 |
| 9 | Bank of Hope | 111 | $430,650 | 7.4% | 134 |
| 10 | Celtic Bank | 105 | $1,008,278 | 7.7% | 203 |
| 11 | Independence Bank | 94 | $141,223 | 6.5% | 120 |
| 12 | Commonwealth Business Bank | 93 | $943,871 | 6.9% | 212 |
| 13 | Five Star Bank | 67 | $238,097 | 8.0% | 125 |
| 14 | Hanmi Bank | 62 | $707,363 | 7.1% | 180 |
| 15 | Pacific City Bank | 62 | $1,176,387 | 6.9% | 236 |
| 16 | Live Oak | 60 | $1,503,917 | 7.3% | 136 |
| 17 | Eastern Bank | 55 | $79,316 | 9.8% | 72 |
| 18 | Byline Bank | 52 | $1,169,806 | 7.9% | 186 |
| 19 | Columbia State Bank | 52 | $201,140 | 7.7% | 121 |
| 20 | Citizens Bank | 50 | $814,351 | 7.5% | 202 |
Top retailing businesses obtaining SBA loans:
| Rank | Industry | # Loans | Avg Loan | Avg Rate | Avg Term(Mos) |
|---|---|---|---|---|---|
| 1 | Gasoline Stations with Convenience Stores | 569 | $1,251,224 | 7.1% | 247 |
| 2 | Beer, Wine, and Liquor Stores | 547 | $640,126 | 7.5% | 155 |
| 3 | Electronic Shopping and Mail-Order Houses | 484 | $304,711 | 8.9% | 121 |
| 4 | Pharmacies and Drug Stores | 330 | $646,844 | 7.5% | 125 |
| 5 | Supermarkets (except Convenience) Stores | 291 | $536,042 | 7.5% | 144 |
| 6 | Convenience Stores | 286 | $370,341 | 7.8% | 163 |
| 7 | All Other Misc Retailers (except Tobacco Stores) | 238 | $243,551 | 7.8% | 121 |
| 8 | Used Car Dealers | 217 | $322,357 | 8.3% | 159 |
| 9 | Sporting Goods Stores | 187 | $256,132 | 7.5% | 120 |
| 10 | All Other Specialty Food Stores | 167 | $274,508 | 7.5% | 113 |
| 11 | Automotive Parts and Accessories Stores | 164 | $330,922 | 7.5% | 136 |
| 12 | Women's Clothing Stores | 145 | $161,522 | 8.5% | 117 |
| 13 | Other Direct Selling Establishments | 138 | $338,430 | 7.7% | 119 |
| 14 | Other Building Material Dealers | 135 | $455,798 | 7.6% | 130 |
| 15 | Cosmetics, Beauty Supplies, and Perfume Stores | 135 | $304,856 | 8.3% | 118 |
| 16 | Other Clothing Stores | 116 | $211,760 | 8.0% | 124 |
| 17 | Hardware Stores | 113 | $550,024 | 7.2% | 142 |
| 18 | Pet and Pet Supplies Stores | 113 | $436,312 | 7.8% | 125 |
| 19 | Furniture Stores | 111 | $449,212 | 7.9% | 128 |
| 20 | Baked Goods Stores | 102 | $381,054 | 7.6% | 121 |
| 21 | Gift, Novelty, and Souvenir Stores | 100 | $267,990 | 8.0% | 122 |
| 22 | Jewelry Stores | 94 | $351,172 | 8.5% | 117 |
| 23 | Vending Machine Operators | 78 | $370,203 | 8.1% | 114 |
| 24 | Florists | 75 | $127,801 | 8.1% | 120 |
| 25 | Tire Dealers | 74 | $547,220 | 7.4% | 158 |
| 26 | Meat Markets | 68 | $393,375 | 7.8% | 136 |
| 27 | Electronics Stores | 68 | $319,656 | 8.4% | 117 |
| 28 | Floor Covering Stores | 67 | $295,757 | 7.4% | 124 |
| 29 | All Other Home Furnishings Stores | 66 | $271,655 | 8.0% | 127 |
| 30 | Shoe Stores | 64 | $305,498 | 7.8% | 125 |
| 31 | Used Merchandise Stores | 63 | $201,327 | 7.6% | 129 |
| 32 | Nursery and Garden Centers | 62 | $355,847 | 7.1% | 132 |
| 33 | All Other Health and Personal Care Stores | 61 | $348,708 | 8.2% | 120 |
| 34 | Food (Health) Supplement Stores | 57 | $207,991 | 8.3% | 110 |
| 35 | All Other General Mdse Stores | 52 | $272,081 | 8.2% | 127 |
| 36 | Tobacco Stores | 51 | $184,765 | 8.3% | 108 |
| 37 | Hobby, Toy, and Game Stores | 50 | $160,072 | 8.3% | 111 |
| 38 | Window Treatment Stores | 45 | $237,460 | 7.8% | 122 |
| 39 | Clothing Accessories Stores | 44 | $91,064 | 8.5% | 105 |
| 40 | Family Clothing Stores | 43 | $285,219 | 7.2% | 129 |