Top Maryland SBA Lenders |- SBA Loans in MD

Last annual update: Apr 15, 2024

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Huge banks were among the largest lenders to “The Old Line 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 Maryland:

Top SBA lenders in Maryland

RankBankBank HQs# of LoansAvg Interest Avg Loan
1M&TBUFFALO, NY21412.3% $127,174
2BayFirst National BankSaint Petersburg, FL5912.6% $166,186
3TD BankWILMINGTON, DE4612.3% $255,604
4Newtek BankMiami, FL3411.7% $261,441
5Noah BankMiami, FL3411.7% $261,441
6Readycap Lending, LLCBERKELEY HEIGHTS, NJ3012.6% $326,340
7United Midwest Savings BankDE GRAFF, OH2411.1% $241,417
8PNC BankWILMINGTON, DE2013.2% $32,750
9Huntington BankCOLUMBUS, OH1910.8% $524,737
10Wells FargoSIOUX FALLS, SD1612.2% $276,263
11Northeast BankLEWISTON, ME1511.2% $96,587
12Capital BankROCKVILLE, MD129.7% $721,025
13Fulton BankLANCASTER, PA1210.7% $869,183
14Bank of AmericaCHARLOTTE, NC118.6% $410,500
15Berkshire BankPITTSFIELD, MA910.7% $1,057,456
16Live OakWILMINGTON, NC89.8% $1,926,500
17JPMorgan Chase BankCOLUMBUS, OH713.8% $103,714
18SouthState BankWINTER HAVEN, FL711.1% $314,286
19First Bank of the LakeOSAGE BEACH, MO711.4% $783,200
20BancorpSouth BankTUPELO, MS711.1% $601,643

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Top industries receiving SBA loans in Maryland

RankIndustry (NAICS Description)# of LoansAvg Interest Avg Loan
1Full-Service Restaurants3311.5% $407,424
2Limited-Service Restaurants2110.9% $654,148
3Beauty Salons1612.1% $164,000
4Snack and Nonalcoholic Beverage Bars1611.0% $276,819
5Landscaping Services1512.4% $148,933
6Electrical Contractors1411.5% $127,857
7General Automotive Repair1411.6% $458,914
8Insurance Agencies and Brokerages1410.8% $401,136
9Offices of Physicians (except Mental Health Specialists)1411.7% $276,679
10Administrative Management and General Management Consulting Services1311.6% $133,731
11Child Day Care Services1210.6% $413,958
12Plumbing, Heating, and Air-Conditioning Contractors1211.8% $317,333
13All Other Specialty Trade Contractors1111.5% $507,118
14Fitness and Recreational Sports Centers1011.3% $277,350
15Residential Remodelers1011.9% $72,630
16All Other Professional, Scientific, and Technical Services910.9% $126,111
17Custom Computer Programming Services911.7% $345,944
18General Freight Trucking, Local912.5% $95,222
19Home Health Care Services811.3% $802,125
20Offices of Physical, Occupational and Speech Therapists, and Audiologi813.1% $88,125

SBA loans – Maryland

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