Top 35 Banks for Restaurant SBA Loans

Last quarterly update: Mar 26, 2018

As increasing numbers of consumers want to dine out or take prepared food home, the number of food-service operations has skyrocketed from 155,000 about 40 years ago to nearly 960,000 today. But there’s still room in the market for your food-service business. But to start your dream restaurant, it help to know where to look for funding. The failure rate of restaurants is the highest of any industry, so many banks shy away from making any restaurant loans. However, there are many banks who really understand the dynamics of the business. Start your research with banks who get your business and can enable your dream. Here are our top 40 banks you can consider for a restaurant loan and the amount of loan volume they have done in your industry:


1) The Huntington National Bank — Columbus, OH
2017: 355 loans, $242,823 average loan, average interest rate of 6.4%

Huntington National Bank has been the #1 SBA lender for the past eight years in their region. Their SBA team of professionals provides creative SBA lending solutions for all types of businesses. Huntington is confident that they can offer superior turnaround time that most often exceeds the market competition.

2) TD Bank — Wilmington, DE
2017: 196 loans, $102,957 average loan, average interest rate of 9.1%

Being a Preferred SBA Lender, TD Bank is also able to guide you through the process with faster decision times for loan approvals. Their SBA Business Development Officers have broad and diverse industry experience building relationships with small businesses such as veterinary, pharmacy, and law firm. TD Bank takes pride in offering a simple and hassle-free SBA loan experience.

3) JP Morgan Chase Bank, National Association — Columbus, OH
2017: 180 loans, $309,002 average loan, average interest rate of 6.8%

JP Morgan Chase Bank is confident that they can help you guide along the process as easy as possible while fully understanding each step you need to take. Just like Wells Fargo, JP Morgan is massive in size scale and is one of the largest banks in the world. So with their years of experience working with undeniable thousands of customers, JP Morgan can also be a great choice for you.

4) Wells Fargo Bank — Sioux Falls, SD
2017: 104 loans, $176,870 average loan, average interest rate of 9.0%

As the nation’s largest SBA 7(a) lender in dollar volume since 2009, Wells Fargo Bank closed thousands of SBA loans. So, they promise that business owners will understand how to take advantage of the program they offer. Wells Fargo Bank offers long repayment terms for lower monthly payments, and lower down payments that make upfront costs more affordable. No wonder they’re #1 for Plumbing and HVAC loans.

5) M&T Bank — Buffalo, NY
2017: 87 loans, $219,986 average loan, average interest rate of 7.1%

Now more than ever, small businesses need the support of strong, stable banks to succeed. When you work with M&T, not only will you benefit from local decision-making, you’ll have one of the nation’s leading SBA lenders on your side.


If you’re still undecided, here’s our complete list of banks to help you open up your restaurant with a small business restaurant loan:

RankBankCityState# LoansAvg LoanAvg Int
1Huntington NationalColumbusOH659$231,8516.7%
2TD BankWilmingtonDE316$125,9819.4%
3JPMorgan Chase BankColumbusOH279$302,2307.0%
5Wells FargoSioux FallsSD181$156,3509.3%
6Bank of HopeLos AngelesCA171$284,8126.5%
7U.S. BankCincinnatiOH124$83,1127.3%
8Compass BankBirminghamAL121$294,3928.3%
9Santander BankWilmingtonDE120$129,4608.6%
11Newtek Small BusinessLake SuccessNY92$648,3617.3%
12Celtic BankSalt Lake CityUT85$453,3247.2%
13Independence BankEast GreenwichRI84$127,9766.9%
14Hanmi BankLos AngelesCA72$364,0426.9%
15First Home BankSeminoleFL71$291,2357.2%
16Fifth Third BankCincinnatiOH66$419,3426.2%
17Byline BankChicagoIL64$1,034,7397.1%
18Eastern BankBostonMA63$161,1468.2%
19Stearns BankSaint CloudMN57$366,7337.2%
20SunTrust BankAtlantaGA56$832,4346.4%
21NewBankNew York CityNY53$684,4726.5%
22PNC BankWilmingtonDE52$188,6107.2%
23Commonwealth Business BankLos AngelesCA50$627,6806.4%
24First BankSouthern PinesNC49$1,097,4906.7%
25Berkshire BankPittsfieldMA45$584,5296.8%
26Pacific City BankLos AngelesCA45$451,5676.7%
27Zions BankSalt Lake CityUT44$287,8167.5%
28First National Bank of PennsylvaniaGreenvillePA41$486,0786.6%
29Seacoast Commerce BankSan DiegoCA37$765,4276.5%
30East West BankPasadenaCA36$387,3617.2%
31Bank of the WestSan FranciscoCA35$614,1096.4%
32Umpqua BankRoseburgOR33$506,6586.8%
33Open BankLos AngelesCA32$610,5566.4%
34Banner BankWalla WallaWA31$366,3686.5%
35BB&TWinston SalemNC28$270,2935.8%
36Citizens BankProvidenceRI28$258,6436.3%
37CitibankSioux FallsSD27$85,2597.4%
38Noah BankElkins ParkPA27$616,2966.8%
39Webster BankWaterburyCT26$386,8857.1%
40Banco Popular de Puerto RicoSan JuanPR25$98,5488.5%
41NOA BankDuluthGA25$512,7606.3%
42Republic BankPhiladelphiaPA25$1,089,4406.4%
43State Bank and TrustMaconGA25$272,4846.7%
44Bangor Savings BankBangorME24$114,4675.8%
45Bank of AmericaCharlotteNC24$881,1546.1%
46BankUnitedMiami LakesFL24$855,5587.2%
47Midwest Regional BankFestusMO24$590,3797.3%
48Columbia State BankTacomaWA23$294,4707.0%
49Metro City BankDoravilleGA23$1,167,1306.2%
50United Community BankBlairsvilleGA22$1,010,2736.6%

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