Top Connecticut SBA Lenders | SBA Loans in CT

Last annual update: Apr 15, 2024

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Some Connecticut-based banks were among the largest lenders to “The Constitution 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 SBA Lenders in Connecticut:

Top SBA lenders in Connecticut

RankBankBank HQs# of LoansAvg Interest Avg Loan
1M&TBUFFALO, NY8612.6% $180,494
2TD BankWILMINGTON, DE7111.8% $137,028
3Webster BankWATERBURY, CT559.8% $404,535
4Newtek BankMiami, FL3911.6% $463,474
5Noah BankMiami, FL3911.6% $463,474
6BayFirst National BankSaint Petersburg, FL3812.7% $160,624
7KeyBankCLEVELAND, OH2612.5% $127,381
8Liberty BankMIDDLETOWN, CT1811.8% $107,111
9Readycap Lending, LLCBERKELEY HEIGHTS, NJ1312.9% $431,654
10Live OakWILMINGTON, NC139.4% $1,860,231
11Huntington BankCOLUMBUS, OH1310.8% $512,508
12JPMorgan Chase BankCOLUMBUS, OH1111.8% $187,091
13Berkshire BankPITTSFIELD, MA119.5% $849,700
14United Midwest Savings BankDE GRAFF, OH1011.2% $174,000
15Celtic BankSALT LAKE CITY, UT1010.7% $1,992,930
16Bank of AmericaCHARLOTTE, NC87.6% $381,175
17Connecticut Community BankNorwalk, CT710.4% $994,143
18Savings Bank of DanburyDANBURY, CT78.9% $230,143
19Wells FargoSIOUX FALLS, SD711.9% $47,900
20Northeast BankLEWISTON, ME511.1% $87,660

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Top industries receiving SBA loans in Connecticut

RankIndustry (NAICS Description)# of LoansAvg Interest Avg Loan
1Full-Service Restaurants2511.7% $158,132
2Residential Remodelers2112.6% $134,671
3Limited-Service Restaurants1710.8% $352,035
4Child Day Care Services1411.1% $455,000
5Beauty Salons1211.9% $120,083
6Landscaping Services1211.3% $496,600
7All Other Specialty Trade Contractors1010.1% $311,180
8General Freight Trucking, Long Distance, Truckload1012.9% $44,060
9Plumbing, Heating, and Air-Conditioning Contractors1011.0% $584,420
10Breweries911.5% $876,933
11Offices of Mental Health Practitioners (except Physicians)911.9% $98,333
12Electrical Contractors811.5% $108,250
13Offices of All Other Miscellaneous Health Practitioners811.3% $133,375
14Fitness and Recreational Sports Centers711.7% $757,757
15Insurance Agencies and Brokerages713.3% $83,357
16Other Personal Care Services712.4% $87,143
17All Other Amusement and Recreation Industries610.8% $927,700
18Finish Carpentry Contractors612.3% $105,333
19Supermarkets and Other Grocery (except Convenience) Stores611.2% $125,000
20Administrative Management and General Management Consulting Services511.5% $1,095,100

SBA loans – Connecticut

A note about these Connecticut SBA lenders – People frequently ask us if one of the banks above is 1) on the Connecticut preferred lender list 2) an approved lender in Connecticut, or 3) participating in the Connecticut SBA Express lending program. All these questions revolve around whether a given SBA bank makes small business SBA loans in Connecticut 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 Connecticut. 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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