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 10 SBA Lenders in New Mexico:
| State Rank | Bank | Headquarters | # Loans | Avg Loan | Avg Int |
|---|---|---|---|---|---|
| 1 | Wells Fargo | Sioux Falls, SD | 51 | $213,557 | 7.5% |
| 2 | Western Commerce Bank | Carlsbad, NM | 51 | $415,931 | 6.7% |
| 3 | Compass Bank | Birmingham, AL | 37 | $92,843 | 7.7% |
| 4 | U.S. Bank | Cincinnati, OH | 22 | $433,882 | 6.8% |
| 5 | Bank of the West | San Francisco, CA | 20 | $540,555 | 5.5% |
| 6 | First American Bank | Artesia, NM | 12 | $382,967 | 5.9% |
| 7 | Century Bank | Santa Fe, NM | 10 | $89,460 | 6.1% |
| 8 | Independence Bank | East Greenwich, RI | 10 | $94,000 | 7.6% |
| 9 | ACCION New Mexico | Albuquerque, NM | 8 | $81,500 | 9.4% |
| 10 | Live Oak | Wilmington, NC | 8 | $1,761,875 | 6.2% |