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:

RankBankCityST# LoansAvg LoanAvg Int
1The Huntington National BankColumbusOH355$242,8236.4%
2TD BankWilmingtonDE196$102,9579.1%
3JPMorgan Chase BankColumbusOH180$309,0026.8%
4Wells FargoSioux FallsSD104$176,8709.0%
6Compass BankBirminghamAL82$120,8218.2%
7Bank of HopeLos AngelesCA78$250,5836.1%
9Santander BankWilmingtonDE60$100,5258.4%
10Celtic BankSalt Lake CityUT46$499,2806.8%
11First Home BankSeminoleFL40$299,6756.9%
12Newtek Small Business FinanceLake SuccessNY39$552,4286.9%
13Independence BankEast GreenwichRI38$129,6057.0%
14Byline BankChicagoIL37$925,5546.8%
15Stearns BankSaint CloudMN35$322,4236.9%
16SunTrust BankAtlantaGA33$958,1586.1%
17Fifth Third BankCincinnatiOH31$344,9005.3%
18NewBankNew York CityNY31$672,4846.2%
19U.S. BankCincinnatiOH31$226,7326.6%
20PNC BankWilmingtonDE31$199,9136.8%
21Hanmi BankLos AngelesCA30$380,3676.5%
22Eastern BankBostonMA30$79,8408.7%
23Berkshire BankPittsfieldMA25$369,1246.3%
24East West BankPasadenaCA25$423,5806.9%
25First BankSouthern PinesNC24$1,292,7465.9%
26Commonwealth Business BankLos AngelesCA23$516,0876.0%
27First National Bank of PennsylvaniaGreenvillePA21$428,9716.4%
28Seacoast Commerce BankSan DiegoCA20$846,6556.2%
29Zions BankSalt Lake CityUT20$324,3257.4%
30CitibankSioux FallsSD20$63,6507.5%
31Pacific City BankLos AngelesCA19$456,1326.3%
32BB&TWinston SalemNC18$269,2065.4%
33Bank of the WestSan FranciscoCA18$593,9785.8%
34Citizens BankProvidenceRI17$215,8825.9%
35Banner BankWalla WallaWA17$180,2006.1%

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