Top South Carolina SBA Lenders | SC SBA Loans

Last update: Mar 2, 2024

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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:

Top SBA lenders in South Carolina

State RankBankBank HQs # of LoansAvg Interest Avg Loan
1TD BankWilmington, DE 7611.8% $162,653
2BayFirst National BankSaint Petersburg, FL 3212.1% $115,619
3Wells FargoSioux Falls, SD 2912.5% $105,334
4SouthState BankWinter Haven, FL 2610.7% $478,969
5Pinnacle BankNashville, TN 2110.1% $987,733
6Huntington BankColumbus, OH 2010.7% $273,825
7United Midwest Savings BankDe Graff, OH 2011.1% $137,000
8Live OakWilmington, NC 189.8% $1,526,628
9Newtek BankMiami, FL 1512.1% $216,667
10Noah BankMiami, FL 1512.1% $216,667
11United Community BankBlairsville, GA 139.3% $693,462
12Newtek Small Business FinanceLake Success, NY 1211.0% $247,667
13Celtic BankSalt Lake City, UT 1010.8% $959,040
14Readycap Lending, LLCBerkeley Heights, NJ 1012.0% $552,760
15First-Citizens Bank & TrustRaleigh, NC 99.7% $1,098,889
16Bank of AmericaCharlotte, NC 87.2% $683,713
17CountybankGreenwood, SC 710.0% $733,100
18Bank of GeorgeLas Vegas, NV 69.3% $2,859,167
19GbankLas Vegas, NV 69.3% $2,859,167
20Bank of Travelers RestTravelers Rest, SC 57.0% $231,280

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Top industries receiving SBA loans in South Carolina

RankIndustry (NAICS Description)# of LoansAvg Interest Avg Loan
1Full-Service Restaurants2710.6% $629,804
2Hotels (except Casino Hotels) and Motels199.4% $2,516,037
3Limited-Service Restaurants169.8% $907,156
4Residential Remodelers1212.0% $169,083
5Insurance Agencies and Brokerages1110.8% $183,164
6Landscaping Services1111.5% $216,745
7Fitness and Recreational Sports Centers1010.6% $397,440
8General Automotive Repair1011.2% $800,500
9General Freight Trucking, Long Distance, Truckload1013.4% $63,500
10All Other Specialty Trade Contractors99.7% $1,076,711
11Snack and Nonalcoholic Beverage Bars910.0% $504,267
12General Freight Trucking, Local812.5% $406,250
13Electrical Contractors711.6% $437,071
14Plumbing, Heating, and Air-Conditioning Contractors710.5% $862,714
15Offices of Physicians (except Mental Health Specialists)610.9% $557,350
16Beauty Salons612.9% $891,833
17Pet Care (except Veterinary) Services611.3% $423,867
18Offices of All Other Miscellaneous Health Practitioners610.7% $96,667
19Other Services to Buildings and Dwellings611.1% $290,367
20Used Car Dealers511.5% $184,600

SBA loans – South Carolina

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

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