Last annual update:
Big names in banks were among the largest lenders to “The Palmetto 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 South Carolina:
Most active SBA lenders in South Carolina
| State Rank | Bank | Bank Headquarters | # of Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|---|
| 1 | TD Bank | Wilmington, DE | 101 | $105,964 | 10.1% |
| 2 | Wells Fargo | Sioux Falls, SD | 72 | $203,710 | 9.7% |
| 3 | United Midwest Savings Bank | De Graff, OH | 28 | $181,286 | 8.1% |
| 4 | Stearns Bank | Saint Cloud, MN | 23 | $264,896 | 8.0% |
| 5 | First Home Bank | Saint Petersburg, FL | 23 | $217,609 | 8.0% |
| 6 | Independence Bank | East Greenwich, RI | 19 | $139,737 | 7.1% |
| 7 | Countybank | Greenwood, SC | 15 | $1,790,853 | 7.2% |
| 8 | Live Oak | Wilmington, NC | 15 | $1,315,667 | 7.3% |
| 9 | Business Development Corporation of SC | Columbia, SC | 13 | $241,015 | 7.9% |
| 10 | United Community Bank | Blairsville, GA | 12 | $447,708 | 7.6% |
| 11 | BB&T | Winston Salem, NC | 11 | $1,366,573 | 6.9% |
| 12 | Pinnacle Bank | Nashville, TN | 11 | $772,418 | 7.3% |
| 13 | Newtek Small Business Finance | Lake Success, NY | 11 | $375,136 | 8.1% |
| 14 | Bank of Travelers Rest | Travelers Rest, SC | 10 | $499,670 | 5.9% |
| 15 | Synovus Bank | Columbus, GA | 9 | $1,547,289 | 6.4% |
| 16 | First-Citizens Bank & Trust | Raleigh, NC | 9 | $854,500 | 7.2% |
| 17 | Aquesta Bank | Cornelius, NC | 8 | $995,223 | 7.6% |
| 18 | Embassy National Bank | Lawrenceville, GA | 8 | $840,625 | 6.6% |
| 19 | Cadence Bank | Atlanta, GA | 8 | $404,688 | 7.8% |
| 20 | Bank of Hope | Los Angeles, CA | 6 | $676,167 | 7.0% |
South Carolina PPP lenders (loans <$150,000)
| Rank | Bank | # PPP Loans |
|---|---|---|
| 1 | South State Bank | 5,131 |
| 2 | First-Citizens Bank & Trust Company | 4,426 |
| 3 | Bank of America | 4,317 |
| 4 | Kabbage | 3,501 |
| 5 | Truist Bank d/b/a Branch Banking & Trust Co | 3,196 |
| 6 | Wells Fargo Bank | 3,180 |
| 7 | TD Bank | 1,878 |
| 8 | Synovus Bank | 1,842 |
| 9 | Celtic Bank Corporation | 1,798 |
| 10 | Cross River Bank | 1,669 |
South Carolina PPP lenders (loans >$150,000)
| Rank | Bank | # PPP Loans |
|---|---|---|
| 1 | South State Bank | 961 |
| 2 | First-Citizens Bank & Trust Company | 740 |
| 3 | Truist Bank d/b/a Branch Banking & Trust Co | 676 |
| 4 | Synovus Bank | 449 |
| 5 | United Community Bank | 362 |
| 6 | Bank of America | 285 |
| 7 | Pinnacle Bank | 239 |
| 8 | TD Bank | 234 |
| 9 | Wells Fargo Bank | 171 |
| 10 | South Atlantic Bank | 150 |
Note: South Carolina PPP loan activity data from the CARES Act from March – August and does not include Heals/Heroes Act PPP loans.