Last annual update:
Quite a few Delaware-based banks were among the largest lenders to “The First 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 Delaware:
Active SBA lenders in Delaware
| State Rank | Bank | Bank Headquarters | # of Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|---|
| 1 | M&T | Buffalo, NY | 48 | $75,717 | 9.4% |
| 2 | TD Bank | Wilmington, DE | 35 | $95,734 | 10.5% |
| 3 | Wells Fargo | Sioux Falls, SD | 10 | $60,310 | 9.9% |
| 4 | First State Community Loan Fund | Wilmington, DE | 7 | $168,571 | 9.3% |
| 5 | Wilmington Savings Fund Society | Wilmington, DE | 5 | $739,000 | 7.1% |
| 6 | Grow America Fund | New York, NY | 4 | $1,156,250 | 5.4% |
| 7 | Berkshire Bank | Pittsfield, MA | 4 | $1,153,125 | 7.9% |
| 8 | Meridian Bank | Malvern, PA | 4 | $518,750 | 7.9% |
| 9 | Cadence Bank | Atlanta, GA | 4 | $237,500 | 7.9% |
| 10 | Capital One | Mclean, VA | 4 | $205,500 | 7.0% |
Top Delaware PPP lenders (loans <$150,000)
| Rank | Bank | # PPP Loans |
|---|---|---|
| 1 | Wilmington Savings Fund Society | 1,700 |
| 2 | Manufacturers and Traders Trust Company | 1,495 |
| 3 | PNC Bank | 961 |
| 4 | TD Bank | 809 |
| 5 | Citizens Bank | 709 |
| 6 | Wells Fargo Bank | 443 |
| 7 | Fulton Bank | 437 |
| 8 | Kabbage | 428 |
| 9 | Cross River Bank | 378 |
| 10 | Bank of America | 376 |
Top Delaware PPP lenders (loans >$150,000)
| Rank | Bank | # PPP Loans |
|---|---|---|
| 1 | Wilmington Savings Fund Society | 556 |
| 2 | Manufacturers and Traders Trust Company | 398 |
| 3 | PNC Bank | 185 |
| 4 | Fulton Bank | 119 |
| 5 | TD Bank | 117 |
| 6 | Citizens Bank | 65 |
| 7 | Readycap Lending | 50 |
| 8 | County Bank | 46 |
| 9 | Bank of America | 43 |
| 10 | Community Bank Delaware | 31 |
Note: Delaware PPP loan activity data from the CARES Act from March – August and does not include Heals/Heroes Act PPP loans.