Last annual update:
Some Alaska-based banks were among the largest lenders to “The Last Frontier” 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 SBA Lenders in Alaska:
Most active SBA lenders in Alaska
| State Rank | Bank | Bank Headquarters | # of Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|---|
| 1 | Northrim Bank | Anchorage, AK | 24 | $312,408 | 7.3% |
| 2 | Wells Fargo | Sioux Falls, SD | 21 | $150,281 | 10.1% |
| 3 | Alaska Growth Capital BIDCO | Anchorage, AK | 15 | $979,560 | 8.0% |
| 4 | First Home Bank | Saint Petersburg, FL | 5 | $236,000 | 8.2% |
| 5 | KeyBank | Cleveland, OH | 4 | $410,000 | 7.6% |
| 6 | United Midwest Savings Bank | De Graff, OH | 4 | $61,000 | 8.1% |
| 7 | Newtek Small Business Finance | Lake Success, NY | 3 | $1,954,333 | 7.8% |
| 8 | Seacoast Commerce Bank | San Diego, CA | 3 | $1,268,733 | 7.1% |
Top Alaska PPP lenders (for loans <$150,000)
| Rank | Bank | # PPP Loans |
|---|---|---|
| 1 | Northrim Bank | 2,327 |
| 2 | First National Bank Alaska | 1,885 |
| 3 | Alaska USA FCU | 1,426 |
| 4 | Wells Fargo Bank | 1,073 |
| 5 | First Bank | 782 |
| 6 | Denali State Bank | 377 |
| 7 | KeyBank National Association | 349 |
| 8 | Mt. McKinley Bank | 315 |
| 9 | Celtic Bank Corporation | 302 |
| 10 | NuVision FCU | 224 |
Top Alaska PPP lenders (for loans >$150,000)
| Rank | Bank | # Loans |
|---|---|---|
| 1 | First National Bank Alaska | 511 |
| 2 | Northrim Bank | 505 |
| 3 | KeyBank National Association | 132 |
| 4 | Wells Fargo Bank | 100 |
| 5 | Alaska USA FCU | 96 |
| 6 | First Bank | 62 |
| 7 | Mt. McKinley Bank | 57 |
| 8 | Denali State Bank | 55 |
| 9 | Bank of America | 24 |
| 10 | NuVision FCU | 18 |
Note: Alaska PPP loan activity data from the CARES Act from March – August and does not include Heals/Heroes Act PPP loans.