Last annual update:
Top SBA lenders in Colorado
| CO Rank | Colorado Bank | Bank HQs | # of Loans | Avg Interest | Avg CO Loan |
|---|---|---|---|---|---|
| 1 | U.S. Bank | Cincinnati, OH | 108 | 7.2% | $101,391 |
| 2 | The Huntington National Bank | Columbus, OH | 72 | 7.1% | $239,568 |
| 3 | Live Oak | Wilmington, NC | 65 | 6.4% | $1,268,806 |
| 4 | Wells Fargo | Sioux Falls, SD | 48 | 8.5% | $280,281 |
| 5 | KeyBank | Cleveland, OH | 42 | 7.3% | $105,921 |
| 6 | Hanmi Bank | Los Angeles, CA | 41 | 6.1% | $1,241,720 |
| 7 | CrossFirst Bank | Leawood, KS | 33 | 6.3% | $903,448 |
| 8 | Newtek Small Business Finance | Lake Success, NY | 30 | 7.3% | $615,203 |
| 9 | BayFirst National Bank | Saint Petersburg, FL | 26 | 8.2% | $154,658 |
| 10 | Independent Bank | Mckinney, TX | 25 | 5.5% | $1,289,120 |
| 11 | Bank of the West | San Francisco, CA | 23 | 6.4% | $637,978 |
| 12 | BancorpSouth Bank | Tupelo, MS | 21 | 7.1% | $281,252 |
| 13 | American Bank of Commerce | Wolfforth, TX | 19 | 6.2% | $379,021 |
| 14 | Community Banks of Colorado | Greenwood Village, CO | 19 | 5.4% | $1,660,337 |
| 15 | Readycap Lending, LLC | Berkeley Heights, NJ | 18 | 7.7% | $548,906 |
Here are the top 50 industries in Colorado (based on small business loan volume from last year) so you can get a sense of what you may expect for your business in terms of interest rate:
| Rank | Colorado Small Business Description | # of Loans | Avg Loan | Avg Rate |
|---|---|---|---|---|
| 1 | Hotels (except Casino Hotels) and Motels | 261 | $1,673,218 | 5.6% |
| 2 | Beer, Wine, and Liquor Stores | 610 | $516,185 | 6.0% |
| 3 | Full-Service Restaurants | 574 | $462,524 | 6.5% |
| 4 | Offices of Dentists | 321 | $806,868 | 5.9% |
| 5 | Child Day Care Services | 134 | $1,183,023 | 5.9% |
| 6 | Veterinary Services | 179 | $880,189 | 5.7% |
| 7 | Limited-Service Restaurants | 337 | $378,420 | 6.5% |
| 8 | General Automotive Repair | 246 | $480,564 | 6.3% |
| 9 | Lessors of Nonresidential Buildings (except Miniwarehouses) | 118 | $885,828 | 5.7% |
| 10 | Fitness and Recreational Sports Centers | 235 | $438,272 | 6.8% |
| 11 | Plumbing, Heating, and Air-Conditioning Contractors | 217 | $374,309 | 6.8% |
| 12 | Gasoline Stations with Convenience Stores | 88 | $913,018 | 5.8% |
| 13 | Car Washes | 73 | $995,855 | 6.2% |
| 14 | Offices of Physicians (except Mental Health Specialists) | 143 | $508,041 | 6.3% |
| 15 | All Other Specialty Trade Contractors | 238 | $297,439 | 7.0% |
| 16 | Breweries | 143 | $418,597 | 6.3% |
| 17 | Automotive Body, Paint, and Interior Repair and Maintenance | 91 | $635,926 | 6.3% |
| 18 | All Other Amusement and Recreation Industries | 79 | $648,466 | 6.7% |
| 19 | Investment Advice | 66 | $773,501 | 6.5% |
| 20 | Offices of Lawyers | 163 | $287,043 | 6.7% |
| 21 | Engineering Services | 112 | $377,468 | 6.8% |
| 22 | Landscaping Services | 196 | $211,616 | 7.0% |
| 23 | Roofing Contractors | 113 | $357,219 | 6.9% |
| 24 | Beauty Salons | 162 | $246,297 | 7.0% |
| 25 | Electrical Contractors | 147 | $268,452 | 7.3% |
| 26 | All Other Professional, Scientific, and Technical Services | 111 | $354,141 | 6.3% |
| 27 | Lessors of Miniwarehouses and Self-Storage Units | 25 | $1,567,452 | 6.1% |
| 28 | Homes for the Elderly | 33 | $1,127,785 | 6.3% |
| 29 | Insurance Agencies and Brokerages | 125 | $294,154 | 6.8% |
| 30 | Drinking Places (Alcoholic Beverages) | 99 | $364,666 | 6.7% |
| 31 | All Other Miscellaneous Manufacturing | 45 | $794,484 | 6.3% |
| 32 | Offices of Chiropractors | 163 | $210,561 | 6.8% |
| 33 | Machine Shops | 39 | $851,226 | 6.4% |
| 34 | Other Computer Related Services | 84 | $377,429 | 6.6% |
| 35 | Sporting Goods Stores | 113 | $279,729 | 6.7% |
| 36 | Other Personal Care Services | 109 | $275,554 | 7.0% |
| 37 | Custom Computer Programming Services | 89 | $332,185 | 7.3% |
| 38 | Offices of Optometrists | 48 | $609,652 | 6.2% |
| 39 | Funeral Homes and Funeral Services | 28 | $1,002,493 | 5.9% |
| 40 | Snack and Nonalcoholic Beverage Bars | 117 | $236,476 | 7.1% |
| 41 | Site Preparation Contractors | 76 | $363,417 | 7.0% |
| 42 | Home Health Care Services | 69 | $392,096 | 6.8% |
| 43 | Offices of Certified Public Accountants | 99 | $272,314 | 6.2% |
| 44 | Pet Care (except Veterinary) Services | 75 | $353,003 | 7.0% |
| 45 | Automotive Oil Change and Lubrication Shops | 22 | $1,180,341 | 6.4% |
| 46 | Used Car Dealers | 59 | $433,342 | 6.9% |
| 47 | Hardware Stores | 33 | $752,058 | 5.7% |
| 48 | Supermarkets and Other Grocery (except Convenience) Stores | 36 | $669,986 | 6.8% |
| 49 | All Other Miscellaneous Store Retailers (except Tobacco Stores) | 85 | $282,151 | 6.6% |
| 50 | General Freight Trucking, Local | 88 | $270,717 | 7.4% |
SBA loans – Colorado
A note about these Colorado SBA lenders – People frequently ask us if one of the banks above is 1) on the Colorado preferred lender list 2) an approved lender in Colorado, or 3) participating in the Colorado SBA Express lending program. All these questions revolve around whether a given SBA bank makes small business SBA loans in Colorado 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 Colorado. We analyze thousands of SBA loans each year and rank lenders based on recent activity. We provide business loan activity for borrowers by state, as well as the major Colorado markets of Aurora, Colorado Springs, and Denver.
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.