Top Alabama SBA Lenders | SBA Loans in AL

Last annual update: Apr 15, 2024

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Looking for an Alabama SBA loan for your small business? These SBA lenders lend money to all qualified borrowers. So regardless if you like to say “Roll Tide” or “War Eagle,”  these SBA banks have you covered.

Top Alabama SBA Lenders based on SBA loans made in Alabama during the past year:

Top SBA lenders in Alabama

RankBankBank HQs# of LoansAvg Interest Avg Loan
1BayFirst National BankSaint Petersburg, FL2512.8% $147,860
2United Midwest Savings BankDE GRAFF, OH2211.2% $482,545
3Noah BankMiami, FL2212.2% $248,500
4Newtek BankMiami, FL2212.2% $248,500
5Huntington BankCOLUMBUS, OH1710.7% $460,200
6BancorpSouth BankTUPELO, MS1411.0% $449,107
7Live OakWILMINGTON, NC139.9% $1,606,623
8PNC BankWILMINGTON, DE1212.1% $73,750
9SouthState BankWINTER HAVEN, FL1111.0% $195,182
10Readycap Lending, LLCBERKELEY HEIGHTS, NJ1112.8% $485,955
11Wells FargoSIOUX FALLS, SD1012.4% $82,200
12BankFirst Financial ServicesCOLUMBUS, MS910.6% $117,900
13Northeast BankLEWISTON, ME711.3% $73,600
14Peoples BankMENDENHALL, MS510.7% $1,295,260
15River Bank & TrustPRATTVILLE, AL510.9% $626,180
16Peoples Bank of AlabamaCULLMAN, AL58.9% $453,240
17Millennial BankLEEDS, AL59.0% $2,120,320
18Synovus BankCOLUMBUS, GA59.6% $1,774,780
19Berkshire BankPITTSFIELD, MA510.9% $2,075,400
20Community Bank of MississippiFlowood, MS48.6% $1,343,125

Top industries receiving SBA loans in Alabama

RankIndustry (NAICS Description)# of LoansAvg Interest Avg Loan
1Full-Service Restaurants1411.1% $564,671
2Limited-Service Restaurants1310.6% $672,792
3Insurance Agencies and Brokerages1110.3% $912,309
4Landscaping Services1111.2% $279,655
5Residential Remodelers911.7% $134,778
6Broilers and Other Meat Type89.3% $1,099,263
7General Automotive Repair811.3% $336,700
8Janitorial Services813.0% $101,938
9Other Personal Care Services812.1% $191,313
10Plumbing, Heating, and Air-Conditioning Contractors811.0% $651,938
11Electrical Contractors711.4% $242,143
12General Freight Trucking, Long Distance, Truckload712.3% $127,571
13Hotels (except Casino Hotels) and Motels79.9% $2,184,714
14Marketing Consulting Services611.1% $213,333
15All Other Personal Services411.0% $416,250
16Child Day Care Services410.0% $395,350
17Commercial and Institutional Building Construction411.1% $173,750
18Offices of Physical, Occupational and Speech Therapists, and Audiologi411.9% $170,725
19Offices of Physicians (except Mental Health Specialists)411.3% $104,950
20Offices of Real Estate Agents and Brokers413.1% $80,875

SBA loans – Alabama

A note about these Alabama SBA lenders – People frequently ask us if one of the banks above is 1) on the Alabama preferred lender list 2) an approved lender in Alabama, or 3) participating in the Alabama SBA Express lending program. All these questions revolve around whether a given SBA bank makes small business SBA loans in Alabama and can they process SBA loans quickly. The answer is yes, of course. These are not the small banks that only make a few SBA loans a year and do not understand the SBA 7(a) loan program. These are the banks that have made the most SBA loans in Alabama. We analyze thousands of SBA loans each year and rank lenders based on recent activity. We would be remiss if we did not mention that although many banks will only lend in certain geographies, there are a handful of extremely aggressive nationwide SBA lenders who will lend anywhere. These lenders understand the SBA program as well as anyone and move very quickly, so we recommend not limiting your search to your home state. If you utilize our lender match tool, we can find you suitable SBA banks based on your geography, industry, and company and size at no cost or obligation to you to save you valuable time.

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