Last annual update:
A few New Mexico-based banks were among the largest lenders to “The Land of Enchantment” businesses through the U.S. Small Business Administration’s 7(a) program. Whether your business is a hotel, restaurant, auto repair, medical practice, veterinary or pharmacy, 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 New Mexico:
| State Rank | Bank | Bank Headquarters | # of Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|---|
| 1 | U.S. Bank | Cincinnati, OH | 46 | $165,965 | 7.9% |
| 2 | Wells Fargo | Sioux Falls, SD | 27 | $163,352 | 9.5% |
| 3 | Western Commerce Bank | Carlsbad, NM | 24 | $281,733 | 7.6% |
| 4 | Bank of the West | San Francisco, CA | 22 | $395,836 | 6.9% |
| 5 | Bank of the Southwest | Roswell, NM | 11 | $131,755 | 6.8% |
| 6 | United Midwest Savings Bank | De Graff, OH | 8 | $822,500 | 8.1% |
| 7 | New Mexico Bank Trust | Albuquerque, NM | 7 | $115,214 | 6.7% |
| 8 | First Savings Bank | Beresford, SD | 6 | $176,595 | 6.1% |
| 9 | Century Bank | Santa Fe, NM | 6 | $74,167 | 7.2% |
| 10 | Live Oak | Wilmington, NC | 5 | $993,000 | 7.1% |
| 11 | First American Bank | Artesia, NM | 5 | $854,560 | 8.2% |
| 12 | Stearns Bank | Saint Cloud, MN | 5 | $336,680 | 8.1% |
| 13 | Independence Bank | East Greenwich, RI | 5 | $145,000 | 3.9% |
| 14 | Accion | Albuquerque, NM | 5 | $96,220 | 10.0% |
| 15 | First Home Bank | Saint Petersburg, FL | 4 | $275,000 | 7.9% |
| 16 | Hana Small Business Lending | Los Angeles, CA | 3 | $3,651,667 | 6.2% |
| 17 | Poppy Bank | Santa Rosa, CA | 3 | $3,266,667 | 7.3% |
| 18 | Newtek Small Business Finance | Lake Success, NY | 3 | $1,256,667 | 7.9% |
| 19 | Byline Bank | Chicago, IL | 3 | $1,043,333 | 8.3% |
| 20 | Pioneer Bank | Roswell, NM | 3 | $163,333 | 7.4% |