Best lenders
SBA lenders with the lowest rates
Lenders ranked on the interest rate borrowers actually received, not an advertised range.
This is the rate borrowers actually got, recorded on the loan, not a range from a rate card. The spread is far wider than most borrowers expect, and it is the single strongest argument for applying to more than one lender.
| # | Lender | Loans | Median loan | Median rate | To startups | Charge-off |
|---|---|---|---|---|---|---|
| 1 | City National Bank | 328 | $901,250 | 6.80% | 20.1% | 1.9% |
| 2 | Bank of America | 2,770 | $350,000 | 7.23% | 17.5% | 3.1% |
| 3 | Rockland Trust Company | 442 | $199,000 | 7.25% | 30.8% | 3.2% |
| 4 | BMO Bank | 363 | $445,500 | 7.77% | 15.7% | 3.2% |
| 5 | America First Federal Credit Union | 347 | $661,700 | 8.00% | 44.7% | 2.3% |
| 6 | First Community Bank | 298 | $294,750 | 8.03% | 43.3% | 2.8% |
| 7 | Oriental Bank | 366 | $112,500 | 8.25% | 50.8% | 8.4% |
| 8 | BancFirst | 276 | $180,000 | 8.50% | 43.8% | 4.7% |
| 9 | Old National Bank | 881 | $500,000 | 8.50% | 37.0% | 5.3% |
| 10 | First Financial Bank | 590 | $700,000 | 8.50% | 38.6% | 4.4% |
| 11 | Enterprise Bank & Trust | 566 | $1,106,000 | 8.50% | 29.7% | 1.3% |
| 12 | Associated Bank | 256 | $325,400 | 8.75% | 38.7% | 4.9% |
| 13 | Truist Bank | 262 | $942,900 | 8.75% | 23.3% | 4.7% |
| 14 | US Metro Bank | 398 | $1,530,000 | 8.75% | 27.1% | 3.0% |
| 15 | Regions Bank | 445 | $406,000 | 8.79% | 28.3% | 5.1% |
| 16 | The Bancorp Bank | 408 | $700,000 | 9.00% | 40.0% | 9.1% |
| 17 | GBank | 536 | $2,711,000 | 9.00% | 25.4% | 2.9% |
| 18 | Metro City Bank | 337 | $1,130,000 | 9.00% | 36.2% | 2.5% |
| 19 | Customers Bank | 275 | $593,700 | 9.00% | 22.2% | 8.6% |
| 20 | Banner Bank | 833 | $100,000 | 9.25% | 19.4% | 3.5% |
| 21 | Woori America Bank | 251 | $500,000 | 9.25% | 50.6% | 4.1% |
| 22 | PCB Bank | 346 | $615,000 | 9.25% | 36.7% | 3.4% |
| 23 | Open Bank | 402 | $977,000 | 9.25% | 11.4% | 1.5% |
| 24 | Esl Fcu | 286 | $50,000 | 9.25% | 39.2% | 6.1% |
| 25 | Washington Trust Bank | 333 | $209,000 | 9.25% | 48.0% | 1.9% |
| 26 | U.S. Bank | 9,822 | $45,000 | 9.49% | 34.0% | 6.4% |
| 27 | Live Oak Banking Company | 6,121 | $625,000 | 9.49% | 26.7% | 2.6% |
| 28 | Fifth Third Bank | 1,483 | $250,000 | 9.50% | 25.8% | 5.7% |
| 29 | Hanmi Bank | 663 | $562,500 | 9.50% | 17.3% | 6.8% |
| 30 | East West Bank | 544 | $450,000 | 9.50% | 12.3% | 4.5% |
A note that applies to every table on this page. Loans, median loan, median rate and startup share are that lender's recent 7(a) lending, fiscal years 2023 to 2026, using data released June 2026. Charge-off is necessarily computed on an older set of loans — cohorts old enough to have either been repaid or failed — because a loan approved last year has not had time to go bad. They are not the same loans, and a lender that has changed its credit standards will look inconsistent across the two. Read them as two separate facts about the same institution.
The other end of the table
For contrast, these are the lenders with the highest median rates at the same volume threshold. Several are high-volume, well-known names.
| # | Lender | Loans | Median loan | Median rate | To startups | Charge-off |
|---|---|---|---|---|---|---|
| 1 | Wells Fargo Bank | 6,069 | $20,000 | 13.00% | 86.4% | 7.9% |
| 2 | Columbia Bank | 2,074 | $50,000 | 12.50% | 10.6% | 8.5% |
| 3 | BayFirst National Bank | 6,974 | $150,000 | 12.25% | 1.9% | 21.7% |
| 4 | Lendistry SBLC, LLC | 3,397 | $150,000 | 12.25% | 0.7% | 21.4% |
| 5 | Banco Popular de Puerto Rico | 1,321 | $50,000 | 11.75% | 31.2% | 4.7% |
| 6 | Heritage Bank Inc | 557 | $150,000 | 11.75% | 11.5% | n/a |
| 7 | JPMorgan Chase Bank | 6,438 | $196,800 | 11.68% | 7.0% | 7.5% |
| 8 | PNC Bank | 1,667 | $50,000 | 11.50% | 38.1% | 8.3% |
| 9 | TD Bank | 10,921 | $50,000 | 11.50% | 28.9% | 14.6% |
| 10 | Colony Bank | 958 | $150,000 | 11.50% | 16.7% | 9.1% |
The gap between the top and bottom of these two tables is several percentage points on the same federal program. On a ten-year loan that difference is not a rounding error; it is a meaningful share of the total you will repay. Run it through the loan payment calculator before you accept a quote because the lender was convenient.
Why the spread exists at all
- The SBA sets a ceiling, not a price. Lenders may charge up to the cap and many simply do. See the current caps on the rates page.
- Borrower mix. Startups and thin files cost more everywhere, so a lender specializing in them shows a higher median.
- Loan size. The SBA's maximum spread narrows as loans get larger, so a large-loan lender is capped lower by rule.
- Competition, or its absence. A borrower who applies to one lender has no leverage, and the data suggests most borrowers do exactly that.
The other rankings
Most active lenders
Who actually makes the most SBA loans, by volume.
Lowest rates
Ranked on the rate borrowers actually got, not advertised ranges.
Small loans
Who lends under $100,000, which is the hardest money to find.
Large loans
Lenders whose typical deal runs past $1 million.
Track record
Charge-off rates by lender, including the ones nobody publishes.
Lenders who fund startups
Ranked by startup loans actually made.