Top Ohio SBA Lenders | SBA Loans in OH

Last annual update: Mar 2, 2024

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A lot of  Ohio-based banks were among the largest lenders to “The Buckeye State” 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 Ohio:

Top SBA lenders in Ohio

State RankBankBank HQs # of LoansAvg Interest Avg Loan
1Huntington BankColumbus, OH 1,61210.1% $143,290
2U.S. BankCincinnati, OH 1429.5% $115,324
3KeyBankCleveland, OH 12311.6% $172,196
4Telhio CU IncColumbus, OH 6210.1% $285,469
5United Midwest Savings BankDe Graff, OH 5410.7% $532,000
6BayFirst National BankSaint Petersburg, FL 4712.0% $158,919
7PNC BankWilmington, DE 4710.5% $433,906
8First Commonwealth BankIndiana, PA 3510.3% $974,489
9Fifth Third BankCincinnati, OH 3010.0% $538,557
10Northwest BankWarren, PA 2910.8% $350,079
11The Community BankZanesville, OH 258.0% $66,780
12Live OakWilmington, NC 249.3% $1,107,383
13Peoples BankMarietta, OH 2310.1% $241,426
14Newtek BankMiami, FL 2211.5% $423,409
15Noah BankMiami, FL 2211.5% $423,409
16Readycap Lending, LLCBerkeley Heights, NJ 1512.5% $379,387
17JPMorgan Chase BankColumbus, OH 1311.1% $369,869
18Premier BankYoungstown, OH 139.7% $747,369
19BancorpSouth BankTupelo, MS 1210.8% $537,792
20RiverHills BankMilford, OH 128.2% $792,617

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Top industries receiving SBA loans in Ohio

RankIndustry (NAICS Description)# of LoansAvg Interest Avg Loan
1General Freight Trucking, Long Distance, Truckload13510.3% $92,761
2Full-Service Restaurants12310.2% $250,160
3Residential Remodelers11410.4% $84,497
4Landscaping Services8610.1% $171,544
5Limited-Service Restaurants7810.2% $345,397
6General Freight Trucking, Local7610.2% $83,714
7All Other Specialty Trade Contractors7010.1% $226,709
8Beauty Salons579.8% $78,116
9Plumbing, Heating, and Air-Conditioning Contractors5010.0% $113,742
10Electrical Contractors399.9% $183,785
11Fitness and Recreational Sports Centers3610.3% $172,661
12Hotels (except Casino Hotels) and Motels349.4% $2,925,456
13Janitorial Services3310.3% $98,776
14Site Preparation Contractors3210.1% $106,688
15Painting and Wall Covering Contractors3210.3% $96,875
16General Automotive Repair3210.0% $147,850
17Other Personal Care Services2910.7% $162,179
18Home Health Care Services2910.6% $206,848
19Roofing Contractors2610.3% $177,254
20All Other Professional, Scientific, and Technical Services2610.2% $274,608

SBA loans – Ohio

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

We analyze thousands of SBA loans each year and rank lenders based on recent activity. We would be remissed 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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