Last annual update:
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 | Washington DC Bank | Bank Headquarters | # of DC Loans | Avg Loan | Avg DC 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% |
SBA loans – Washington DC
A note about these DC SBA lenders – People frequently ask us if one of the banks above is 1) on the Washington DC preferred lender list 2) an approved lender in DC, or 3) participating in the DC SBA Express lending program. All these questions revolve around whether a given SBA bank makes small business SBA loans in Washington DC 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 DC. 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.