Top 20 Banks for Restaurant SBA Loans


  find me a restaurant lender 

Last quarterly update: Oct 31, 2020

Covid impact on restaurant loans

Many SBA lenders had the restaurant industry as a top five lending category for their banks prior to covid-19. Since the coronavirus pandemic, many SBA banks who traditionally loved lending to restaurants have pulled back and are waiting to see businesses for potential borrowers return close to pre-Covid levels before lending to this industry. Other industries dramatically impacted by covid, such as hotels, have seen similar pull backs by SBA bankers.

November 2020 update: Some banks are lending to restaurants, but only those not impacted significantly by covid such as businesses with big carryout, drive-thru, or delivery revenues. Banks are only looking at the best of the best at this point – 3 years in business, great cash flow, and no acquisition loans.

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# of LoansAvg Loan $Avg Int
1U.S. BankCincinnatiOH304$88,4447.4%
2The Huntington National BankColumbusOH205$202,1257.4%
3Bank of HopeLos AngelesCA90$305,2497.4%
5JPMorgan Chase BankColumbusOH80$205,7917.9%
6TD BankWilmingtonDE74$62,30110.5%
7Santander BankWilmingtonDE73$97,3669.5%
8Newtek Small Business FinanceLake SuccessNY61$794,7158.0%
10First Home BankSaint PetersburgFL45$416,5568.0%
11Wells FargoSioux FallsSD44$150,00210.3%
12Celtic BankSalt Lake CityUT39$603,7977.8%
13Hanmi BankLos AngelesCA34$375,3537.5%
14Commonwealth Business BankLos AngelesCA30$463,1007.2%
15Eastern BankBostonMA29$144,1698.0%
16PNC BankWilmingtonDE27$237,9787.5%
17Byline BankChicagoIL26$1,203,9238.1%
18Webster BankWaterburyCT25$217,0208.1%
19Banner BankWalla WallaWA24$439,4387.1%
20Cadence BankAtlantaGA24$436,7297.9%

  find me a Restaurant lender

Top PPP restaurant lenders

RankBank# PPP Loans
1Bank of America9,853
2JPMorgan Chase Bank6,254
3Wells Fargo Bank6,193
4Truist Bank d/b/a Branch Banking & Trust Co3,031
6U.S. Bank2,793
7Cross River Bank2,421
8TD Bank2,338
9Celtic Bank Corporation2,232
10KeyBank National Association1,943
11Citizens Bank1,659
13PNC Bank1,517
14The Huntington National Bank1,449
15Customers Bank1,445
16Regions Bank1,170
17Fifth Third Bank1,076
18Manufacturers and Traders Trust Company1,075
19Zions Bank958
20First Horizon Bank943