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Best SBA Lenders in 2026
The best SBA lenders in 2026, based on loan volume, are below. If you are looking for a small business SBA loan for your business, there is no better place to look than than the top SBA lenders, any of which we can introduce you to with our SBA lender match tool.
| Rank | SBA Lender | Total Loan $$$ | # Loans | Avg Loan | Avg Rate* |
|---|---|---|---|---|---|
| 1 | Live Oak | $1,805,926,300 | 1,585 | $1,139,386 | 9.0% |
| 2 | Huntington Bank | $1,067,096,600 | 2,276 | $468,847 | 9.5% |
| 3 | Newtek Bank | $660,802,500 | 2,157 | $306,353 | 10.5% |
| 4 | U.S. Bank | $589,148,800 | 2,079 | $283,381 | 9.4% |
| 5 | Gbank | $479,386,800 | 150 | $3,195,912 | 8.4% |
| 6 | Celtic Bank | $466,762,900 | 1,081 | $431,788 | 10.1% |
| 7 | Harvest Small Business Finance | $372,278,000 | 351 | $1,060,621 | 9.6% |
| 8 | US Metro Bank | $364,476,100 | 181 | $2,013,680 | 8.4% |
| 9 | First Internet Bank of Indiana | $348,687,600 | 278 | $1,254,272 | 9.7% |
| 10 | Bank of Hope | $340,094,600 | 328 | $1,036,874 | 8.8% |
| 11 | Wells Fargo | $339,811,300 | 390 | $871,311 | 7.9% |
| 12 | Byline Bank | $326,632,900 | 292 | $1,118,606 | 9.8% |
| 13 | First Bank of the Lake | $318,165,600 | 378 | $841,708 | 10.0% |
| 14 | Readycap Lending, LLC | $297,473,200 | 826 | $360,137 | 11.7% |
| 15 | United Midwest Savings Bank | $292,285,500 | 750 | $389,714 | 9.8% |
| 16 | Port 51 Lending | $280,523,600 | 156 | $1,798,228 | 9.2% |
| 17 | Fifth Third Bank | $254,193,800 | 274 | $927,715 | 9.3% |
| 18 | Pathward | $240,515,300 | 113 | $2,128,454 | 9.4% |
| 19 | TD Bank | $236,634,700 | 1,336 | $177,122 | 10.0% |
| 20 | Enterprise Bank & Trust | $208,417,800 | 117 | $1,781,349 | 7.8% |
| 21 | Zions Bank | $204,314,100 | 732 | $279,118 | 9.1% |
| 22 | M&T | $187,907,700 | 1,647 | $114,091 | 11.0% |
| 23 | Bank of America | $186,525,300 | 267 | $698,597 | 7.1% |
| 24 | Beacon Bank | $186,330,700 | 120 | $1,552,756 | 9.1% |
| 25 | JPMorgan Chase Bank | $183,015,500 | 603 | $303,508 | 10.8% |
- Our SBA preferred lender list rankings for this year are based on SBA loan activity on a rolling 12-month basis.
An SBA preferred lender is a bank or other financial institution that has been approved by the U.S. Small Business Administration (SBA) to participate in the agency’s lending programs. Preferred lenders have a proven track record of successfully processing SBA loans and have demonstrated a high level of expertise in underwriting and servicing these loans. All of the SBA lenders above are on the SBA preferred lender list for 2024, as these banks combined do the majority of the SBA loans annually.
The benefits of using an SBA preferred lender include:
- Faster loan processing: Preferred lenders have the authority to make lending decisions without prior SBA approval, which can lead to faster loan processing times.
- More flexibility: Preferred lenders may have more flexibility in structuring SBA loans to meet the needs of their clients.
- Access to SBA resources: Preferred lenders have access to SBA training and resources, which can help them better serve their clients.
Overall, using an SBA preferred lender can be a great option for small business owners looking to secure financing through the SBA’s lending programs.
The SBA just recently received the most active SBA banks for the past year, which we utilize to created our SBA Preferred List – 2023. The familiar suspects – Live Oak, Byline Bank, and U.S. Bank top the list in terms of loan volume. Live Oak Bank, was well ahead of second place Byline Bank in terms of loan volume. Live Oak achieved this goal with an average loan size of almost $1.4 million. Live Oak is more comfortable doing bigger loans than some of its banking peers as its SBA bank loans focus only on a dozen of so niches. When ranking loan activity by number of loans approved, Huntington Bank actually issued approximately three times as many loans as Live Oak even though Huntington’s footprint is limited to around a dozen stats.
Top Regional SBA Lenders
Over the past year, there were five lenders – Huntington, M&T, Readycap, TD Bank, and US Bank – that were the largest lender (by number of closed SBA loans) in three or more states.
The Top 25 SBA Lenders: Market Share, Trends, and Key Players
Introduction
Small businesses rely on financing to grow, and the SBA 7(a) loan program remains a crucial funding source. This government-backed program helps businesses secure loans with favorable terms, but the lender chosen can make a significant difference. Over the past four years, the top 25 SBA lenders have steadily increased their dominance in the market.
SBALenders.com, a leading authority in SBA loan data, has compiled rankings based on SBA.gov’s 7(a) loan reports, highlighting the banks and financial institutions making the biggest impact. This article examines market share trends, loan volume shifts, and key players from 2021 to 2024, offering insights for small business owners seeking the best lending partners.
Methodology
The rankings are based on data from SBA.gov, considering the following key factors:
- Total loan volume ($$$ lent).
- Number of loans issued.
- Average loan size.
- Average interest rates.
These criteria offer a comprehensive view of the most active SBA lenders and their impact on the small business lending market.
Market Share Trends of the Top 25 SBA Lenders (2021-2024)
Increasing Market Share
The top 25 SBA lenders have steadily expanded their market share over the past four years. In 2021, these lenders accounted for roughly 65% of total SBA 7(a) loan volume. By 2024, their combined market share exceeded 75%, demonstrating increasing consolidation among top-tier lenders.
More Loans, Smaller Loan Sizes
A key trend emerging over the years is the increasing number of loans being issued while average loan sizes decline. This indicates that lenders are focusing on higher loan volume but spreading capital across more businesses.
Factors contributing to this shift include:
- Rising interest rates, leading to more cautious borrowing.
- Increased participation of fintech lenders, making SBA loans more accessible.
- A greater emphasis on microloans and smaller businesses receiving funding.
Year-by-Year Breakdown of Top SBA Lenders
2021 Top 25 Lenders
- Live Oak Bank dominated with over $1.6 billion in SBA 7(a) loans.
- Traditional banks such as U.S. Bank and Huntington Bank remained strong contenders.
- The emergence of alternative lenders like Newtek Small Business Finance signaled a shift in the lending landscape.
2022 Top 25 Lenders
- Live Oak Bank continued its stronghold at #1.
- Huntington Bank increased its lending volume and closed the gap with U.S. Bank.
- Readycap Lending, LLC climbed the rankings, solidifying its presence in the top 10.
2023 Top 25 Lenders
- U.S. Bank and Huntington Bank saw slight declines in total loan volume but remained in the top 5.
- Lendistry, ranked #87 in 2023, was not yet a major player but was preparing for a breakthrough.
- Alternative lenders gained traction, signaling a more competitive landscape.
2024 Top 25 Lenders
- Live Oak Bank maintained its #1 position for the fifth consecutive year.
- Huntington Bank surged to #2, showing consistent growth.
- Readycap Lending, LLC climbed to #3, demonstrating the increasing influence of non-traditional lenders.
- Lendistry made an extraordinary leap from #87 in 2023 to #20 in 2024, a testament to its expanding footprint and ability to scale quickly.
Market Share Analysis of the Top 5 SBA Lenders in 2024
Live Oak Bank (#1)
- Steady dominance since 2019.
- Consistently high loan volume ($1.58 billion in 2024).
- Maintains strong market share despite fluctuations in average loan size.
Huntington Bank (#2)
- Grew its market share significantly over the past four years.
- Increased both loan count and total loan volume.
- Focused on small businesses, with an average loan size of $246,000 in 2024.
Readycap Lending, LLC (#3)
- Climbed into the top 3 in 2024, a major achievement for a non-traditional lender.
- Demonstrated adaptability in serving diverse industries.
Newtek Bank (#4)
- Experienced fluctuations in ranking but remained a top player.
- Maintained a strong focus on small business lending.
U.S. Bank (#5)
- Shifted focus toward smaller loans.
- Loan count remains strong, though total volume saw minor fluctuations.
Lendistry: The Breakout Success of 2024
Few lenders have seen as dramatic a rise as Lendistry. Jumping from #87 in 2023 to #20 in 2024, this rapid ascent highlights:
- An aggressive lending strategy, expanding into underserved markets.
- A tech-driven approach, making SBA loans more accessible to small businesses.
- A significant increase in total loan volume, pushing it into the top 25 for the first time.
Lendistry’s rise represents a shift toward fintech and alternative lending playing a bigger role in SBA financing.
Key Trends and Insights (2021-2024)
- Most Consistent Performers: Live Oak Bank, Huntington Bank, and U.S. Bank have remained in the top 5 across all years.
- Biggest Movers: Lendistry’s surge from #87 to #20 is one of the most notable ranking jumps.
- Shifts in Loan Size and Interest Rates:
- The average loan size decreased as lenders prioritized more loans with smaller dollar amounts.
- Interest rates increased, reflecting broader economic conditions.
What These Trends Mean for Small Business Borrowers
- Top lenders are becoming more competitive, giving borrowers more options.
- Fintech and alternative lenders are on the rise, providing new avenues for funding.
- Borrowers should compare interest rates and loan sizes to find the best fit for their needs.
Top SBA Lenders FAQs
Who is the largest SBA lender?
Live Oak Bank is the largest lender based on loan dollars. Huntington Bank is the largest lender based on number of loans. Live Oak has been #1 for several years after overtaking Wells Fargo, which has dramatically reduced its SBA lending program.
How do I choose amongst the SBA loan lenders?
The most important criteria in selecting an SBA lender (from most to least important) from our years of experience matching borrowers with lenders are:
SBA lending experience – Many banks focus on commercial lending and only do a handful of SBA loans a year, which slows down the approval process and decreases the approval rate. SBA loans have different requirements and processes than traditional loans, and lenders who are experienced in SBA lending will have a better understanding of the process, requirements, and regulations involved. Selecting an SBA lender with extensive SBA lending experience can improve your chances of getting approved for a loan and ensure that your loan application process is as smooth as possible. We believe the best SBA lenders are the ones that focus mostly or exclusively on SBA loans ( as opposed to banks that do traditional lending and only occasionally do SBA loans). Focusing on the largest SBA lenders, perhaps the top 25 or at worst top 100 SBA lenders, is a good strategy.
Geographical focus – Some banks only will lend in certain states or geographical areas. For example, U.S. Bank only provides SBA lending in areas within a certain number of miles from a physical branch. Selecting an SBA lender with industry expertise in your specific business sector can provide several advantages, such as a better understanding of the unique needs and challenges of your industry, faster loan processing times, most importantly, a much higher likelihood your project will be financed.
Note that many of the SBA bankers to whom we refer borrowers are national lenders. Having a lender in your neck of the woods may sound like a great idea, but if the bank doesn’t have significant SBA lending experience, the opposite is usually true.
Industry focus – Some banks love certain industries. Other banks have been burned before and will avoid said industries.
Interest rates – Cost are important, but the SBA does regulate how much SBA banks can charge for their loans. We publish the maximum SBA loan rates weekly so borrowers have a sense for current rates.
Because the four criteria above are very important in selecting an SBA lender, we publish information throughout SBAlenders.com related to SBA loan activity, geographical and industry focus, and SBA interest rates by bank. In addition, borrowers who want introductions to banks that would be a good fit based on the criteria above can simply answers a few questions on our Find me a Lender page, and we will make an introduction(s) to banks we believe would be a great match.
What is the largest SBA loan you can get?
SBA loans range from $25,000 up to $5,000,000. For loan amounts above $5M, we can introduce borrowers to SBA lenders that may couple an SBA loan with a commercial loan and possibly a USDA loan if in a rural area.
Are the biggest SBA lenders the best SBA loan lenders?
In general, we believe the top 25 SBA lenders are the best as they have large teams of specialized lenders who understand the nuisances of SBA lending, which most banks lack. There are some exceptions depending on the top of business, but for the vast majority of borrowers the biggest lenders are an excellent choice. Our Lender Connect tool will match you with an ideal SBA lender for your business or project.
Are all the top SBA lenders on the SBA preferred lender list?
Yes, because the top SBA lenders do the majority of all SBA loan volume, all the big SBA lenders are on the SBA preferred lender list, which provides faster loan turnaround times than non-preferred lenders.
What credit score is needed to obtain an SBA loan?
A credit score of 680 or better is ideal for an SBA loan. Some SBA lenders will work with borrowers in the 640 – 680 range. A credit score below 640 is very challenging, and we do not see borrowers with credit scores below 600 obtaining SBA loans in this environment.
Note to webmasters for any Top 25 Lenders: You are free to utilize the Top 25 Lender icon with your digital and online collateral as long as attribution back to this page (https://www.sbalenders.com/top-sba-lenders/) is provided.
