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Nationwide banks were among the largest lenders to Washington DC 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 Washington DC:
Active SBA lenders in Washington DC
| State Rank | Bank | Bank Headquarters | # of Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|---|
| 1 | M&T | Buffalo, NY | 35 | $90,400 | 9.2% |
| 2 | TD Bank | Wilmington, DE | 17 | $133,235 | 9.6% |
| 3 | BB&T | Winston Salem, NC | 7 | $268,914 | 7.6% |
| 4 | Newtek Small Business Finance | Lake Success, NY | 5 | $244,000 | 8.0% |
| 5 | Hanmi Bank | Los Angeles, CA | 4 | $535,250 | 7.1% |
| 6 | Wells Fargo | Sioux Falls, SD | 4 | $195,225 | 8.9% |
| 7 | Readycap Lending, LLC | Berkeley Heights, NJ | 3 | $2,131,000 | 6.9% |
| 8 | EagleBank | Bethesda, MD | 3 | $283,333 | 7.6% |
| 9 | Independence Bank | East Greenwich, RI | 3 | $150,000 | 8.3% |
Find me a Lender
Top DC PPP lenders (loans <$150,000)
| Rank | Bank | # PPP Loans |
|---|---|---|
| 1 | Bank of America | 1,417 |
| 2 | Kabbage | 806 |
| 3 | Wells Fargo Bank | 633 |
| 4 | Cross River Bank | 617 |
| 5 | PNC Bank | 578 |
| 6 | Truist Bank d/b/a Branch Banking & Trust Co | 572 |
| 7 | Celtic Bank Corporation | 542 |
| 8 | TD Bank | 378 |
| 9 | United Bank | 369 |
| 10 | Citibank | 311 |
Top DC PPP lenders (loans >$150,000)
| Rank | Bank | # PPP Loans |
|---|---|---|
| 1 | Truist Bank d/b/a Branch Banking & Trust Co | 311 |
| 2 | Bank of America | 270 |
| 3 | PNC Bank | 229 |
| 4 | EagleBank | 191 |
| 5 | United Bank | 169 |
| 6 | Sandy Spring Bank | 109 |
| 7 | TD Bank | 104 |
| 8 | Manufacturers and Traders Trust Company | 102 |
| 9 | Wells Fargo Bank | 92 |
| 10 | Capital Bank | 89 |
Note: Washington DC PPP loan activity data from the CARES Act from March – August and does not include Heals/Heroes Act PPP loans.