A few Alabama-based banks were among the largest lenders to “Yellowhammer State” businesses through the U.S. Small Business Administration’s 7(a) program. Whether your business is a restaurant, auto repair, medical practice, funeral home, veterinary or hotel, your mission is to exceed your customer expectations. So, if you’re ready to step up your business to the next level, here are the top 10 SBA Lenders in Alabama:
| State Rank | Bank | Headquarters | # Loans | Avg Loan | Avg Int |
|---|---|---|---|---|---|
| 1 | Compass Bank | Birmingham, AL | 112 | $118,273 | 8.2% |
| 2 | Wells Fargo | Sioux Falls, SD | 47 | $121,943 | 9.3% |
| 3 | Independence Bank | East Greenwich, RI | 18 | $131,667 | 7.0% |
| 4 | Celtic Bank | Salt Lake City, UT | 17 | $348,059 | 7.0% |
| 5 | First Home Bank | Seminole, FL | 17 | $242,647 | 6.9% |
| 6 | Regions Bank | Birmingham, AL | 15 | $752,687 | 6.3% |
| 7 | USAmeriBank | Clearwater, FL | 14 | $958,107 | 6.0% |
| 8 | Live Oak | Wilmington, NC | 13 | $1,522,846 | 6.1% |
| 9 | First Financial Bank | El Dorado, AR | 12 | $301,833 | 6.6% |
| 10 | Redstone FCU | Huntsville, AL | 10 | $47,090 | 7.1% |