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Wealth management is one of the most popular career choices within the financial sector. If you are one of the many who considers wealth management as your next business, here’s our top banks who do considerable loan volumes to wealth management firms:
1) Live Oak Banking Company — Wilmington, NC
2017: 189 loans, $723,693 average loan, average interest rate of 6.7%
Live Oak Bank’s mission is to create an unprecedented banking experience for small business owners nationwide, through service and technology. They offer competitive rates and loan terms that’s why there’s no surprise that they’re #1 for Wealth Management Loans.
2) Byline Bank — Chicago, IL
2017: 14 loans, $716,500 average loan, average interest rate of 6.8%
With a team of lending experts focused on providing creative solutions to your financial challenges, Byline Bank is no doubt #2 on our list. Their focus is government-guaranteed lending. They provide nationwide coverage with loan production offices throughout the Midwest and in Southern California.
3) TD Bank, National Association — Wilmington, DE
2017: 13 loans, $51,685 average loan, average interest rate of 9.0%
Like the above-mentioned banks, 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.
4) Wells Fargo — Sioux Falls, SD
2017: 10 loans, $522,000 average loan, average interest rate of 7.6%
Wells Fargo is committed to the growth of businesses and is proud to be a leading SBA lender. They offer loans geared toward business needs of all sizes – including auto repair businesses. With business loans of $100,000 to $2 million to help cover major expenses, Wells Fargo could be a smart choice for your growing your wealth management business. business.
5) JP Morgan Chase — Columbus, OH
2017: 9 loans, $111,111 average loan, average interest rate of 6.3%
JP Morgan Chase has a team of dedicated small business banking professionals located in every region throughout its footprint trained to help customers find the best combination of services to make their businesses prosper—today and in the future.
Still undecided? Here’s our complete list of top small business lenders for SBA loans for wealth management firms:
|Rank||Bank||City||ST||# Loans||Avg Loan||Avg Int|
|4||Wells Fargo||Sioux Falls||SD||10||$522,000||7.6%|
|5||JPMorgan Chase Bank||Columbus||OH||9||$111,111||6.3%|
|8||First Home Bank||Seminole||FL||7||$221,429||6.9%|
|9||Celtic Bank||Salt Lake City||UT||7||$103,571||7.2%|