Last annual update:
Top New York PPP lenders (loans <$150,000)
| Rank | Bank | # PPP Loans |
|---|---|---|
| New York online PPP app - Smartbiz | ||
| 1 | JPMorgan Chase Bank | 51,673 |
| 2 | Kabbage | 22,038 |
| 3 | Cross River Bank | 21,724 |
| 4 | TD Bank | 18,926 |
| 5 | Bank of America | 18,256 |
| 6 | Celtic Bank Corporation | 12,713 |
| 7 | Citibank | 12,317 |
| 8 | Manufacturers and Traders Trust Company | 11,299 |
| 9 | KeyBank National Association | 9,249 |
| 10 | WebBank | 7,072 |
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Most active SBA lenders in New York
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| State Rank | Bank | Bank Headquarters | # of Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|---|
| 1 | TD Bank | Wilmington, DE | 729 | $83,778 | 10.0% |
| 2 | M&T | Buffalo, NY | 507 | $106,628 | 9.3% |
| 3 | JPMorgan Chase Bank | Columbus, OH | 339 | $162,836 | 8.9% |
| 4 | Santander Bank | Wilmington, DE | 129 | $121,035 | 9.3% |
| 5 | First Home Bank | Saint Petersburg, FL | 79 | $248,500 | 8.1% |
| 6 | Newtek Small Business Finance | Lake Success, NY | 77 | $584,070 | 8.3% |
| 7 | NewBank | New York City, NY | 68 | $1,172,574 | 7.0% |
| 8 | KeyBank | Cleveland, OH | 68 | $484,235 | 7.7% |
| 9 | ESL FCU | Rochester, NY | 60 | $123,037 | 6.8% |
| 10 | Five Star Bank | Warsaw, NY | 59 | $93,251 | 6.6% |
| 11 | Berkshire Bank | Pittsfield, MA | 51 | $586,500 | 7.8% |
| 12 | New Millennium Bank | Fort Lee, NJ | 43 | $748,953 | 6.9% |
| 13 | Wells Fargo | Sioux Falls, SD | 43 | $216,749 | 9.4% |
| 14 | Evans Bank | Hamburg, NY | 41 | $209,763 | 6.7% |
| 15 | Independence Bank | East Greenwich, RI | 41 | $142,683 | 6.2% |
| 16 | BNB Bank | Bridgehampton, NY | 40 | $790,250 | 7.9% |
| 17 | The Bank of Castile | Castile, NY | 39 | $105,610 | 6.6% |
| 18 | United Midwest Savings Bank | De Graff, OH | 34 | $142,824 | 8.0% |
| 19 | Live Oak | Wilmington, NC | 32 | $1,675,125 | 7.0% |
| 20 | People's United Bank | Bridgeport, CT | 31 | $106,452 | 7.5% |
Here are the top 50 industries in New York (based on small business loan volume from last year) so you can get a sense of what you may expect for your business in terms of interest rate:
| Rank | New York Small Business Description | # of Loans | Avg Loan | Avg Rate |
|---|---|---|---|---|
| 1 | Hotels (except Casino Hotels) and Motels | 301 | $2,270,606 | 6.2% |
| 2 | Supermarkets and Other Grocery (except Convenience) Stores | 777 | $870,450 | 6.3% |
| 3 | Full-Service Restaurants | 2285 | $271,968 | 6.8% |
| 4 | Limited-Service Restaurants | 1176 | $347,706 | 6.7% |
| 5 | Offices of Physicians (except Mental Health Specialists) | 717 | $332,518 | 6.5% |
| 6 | Offices of Dentists | 563 | $369,366 | 6.1% |
| 7 | Beer, Wine, and Liquor Stores | 593 | $320,211 | 6.4% |
| 8 | Fitness and Recreational Sports Centers | 542 | $291,688 | 6.8% |
| 9 | Coin-Operated Laundries and Drycleaners | 246 | $531,568 | 6.1% |
| 10 | Veterinary Services | 177 | $689,705 | 5.7% |
| 11 | Pharmacies and Drug Stores | 285 | $406,289 | 6.5% |
| 12 | Lessors of Nonresidential Buildings (except Miniwarehouses) | 137 | $815,723 | 5.7% |
| 13 | All Other Specialty Trade Contractors | 475 | $215,762 | 6.4% |
| 14 | Child Day Care Services | 344 | $293,014 | 7.0% |
| 15 | Other Miscellaneous Durable Goods Merchant Wholesalers | 194 | $418,055 | 6.6% |
| 16 | Plumbing, Heating, and Air-Conditioning Contractors | 517 | $152,900 | 7.0% |
| 17 | Nonresidential Property Managers | 84 | $938,388 | 6.0% |
| 18 | Funeral Homes and Funeral Services | 116 | $677,073 | 6.3% |
| 19 | All Other Amusement and Recreation Industries | 185 | $422,976 | 6.4% |
| 20 | Beauty Salons | 602 | $118,852 | 7.0% |
| 21 | Drycleaning and Laundry Services (except Coin-Operated) | 312 | $222,897 | 6.8% |
| 22 | Car Washes | 91 | $763,655 | 6.3% |
| 23 | General Automotive Repair | 440 | $146,112 | 6.9% |
| 24 | Drinking Places (Alcoholic Beverages) | 290 | $213,543 | 6.9% |
| 25 | Offices of Lawyers | 447 | $138,531 | 7.1% |
| 26 | All Other Specialty Food Stores | 201 | $292,610 | 6.4% |
| 27 | Insurance Agencies and Brokerages | 311 | $185,816 | 6.8% |
| 28 | Other Miscellaneous Nondurable Goods Merchant Wholesalers | 193 | $297,624 | 6.7% |
| 29 | Electrical Contractors | 384 | $141,704 | 6.9% |
| 30 | All Other Professional, Scientific, and Technical Services | 218 | $245,215 | 6.7% |
| 31 | Residential Remodelers | 721 | $74,072 | 7.3% |
| 32 | Commercial Gravure Printing | 109 | $454,643 | 6.8% |
| 33 | Offices of Physical, Occupational and Speech Therapists, and Audiologi | 281 | $175,737 | 6.9% |
| 34 | Breweries | 175 | $281,819 | 6.6% |
| 35 | Other Personal Care Services | 199 | $239,701 | 7.3% |
| 36 | Landscaping Services | 500 | $95,228 | 6.7% |
| 37 | Home Health Care Services | 114 | $416,370 | 6.5% |
| 38 | Caterers | 182 | $257,779 | 6.8% |
| 39 | Gasoline Stations with Convenience Stores | 103 | $444,674 | 6.6% |
| 40 | Commercial and Institutional Building Construction | 284 | $158,589 | 6.8% |
| 41 | General Line Grocery Merchant Wholesalers | 76 | $583,599 | 6.7% |
| 42 | Investment Advice | 134 | $315,851 | 6.4% |
| 43 | Other Grocery and Related Products Merchant Wholesalers | 150 | $281,049 | 7.4% |
| 44 | Electronic Shopping and Mail-Order Houses | 161 | $257,663 | 8.6% |
| 45 | Custom Computer Programming Services | 216 | $184,023 | 7.0% |
| 46 | Computer Systems Design Services | 178 | $218,145 | 7.1% |
| 47 | Snack and Nonalcoholic Beverage Bars | 236 | $162,825 | 7.2% |
| 48 | All Other Miscellaneous Manufacturing | 92 | $408,377 | 6.1% |
| 49 | Machine Shops | 118 | $318,331 | 5.8% |
| 50 | Offices of All Other Miscellaneous Health Practitioners | 166 | $223,601 | 7.1% |
Note: PPP loan activity data: CARES Act from March – August 2020. Does not include 2021 PPP loans.