Lending data
Who actually lends to finance and insurance businesses in Alabama?
44 SBA 7(a) loans went to finance and insurance businesses in Alabama recently, at a median of $194,600. Here are the lenders that made them, ranked.
44 SBA 7(a) loans went to finance and insurance businesses in Alabama in the most recent fiscal years. The median was $194,600 over 10 years. The most active lender was Live Oak Banking Company, with 6 loans.
What lending to finance and insurance businesses in Alabama actually looks like
Every figure on this page is computed from SBA 7(a) loan-level FOIA data released 2026-06-30. It reflects loans that were actually approved, not rate cards or advertised ranges.
| Measure | Finance and insurance, Alabama | All 7(a) borrowers |
|---|---|---|
| Loans approved | 44 | 214,102 |
| Median loan | $194,600 | $150,000 |
| 25th - 75th percentile | $100,000 - $418,525 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 10.38% | 10.25% |
| Share to startups | 27.3% | 33.6% |
| Charge-off rate, FY2010-19 cohort | 6.8% | 7.1% |
Which lenders actually funded them
Ranked by loans approved to finance and insurance businesses in Alabama. This is the list worth working from, because a lender that has funded dozens of businesses like yours in your state has seen your file before.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| Live Oak Banking Company | 6 | $595,000 | 17% | 9.96% |
| Newtek Bank | 6 | $112,500 | 33% | 11.50% |
| U.S. Bank | 5 | $291,100 | 20% | 7.85% |
| Byline Bank | 4 | $542,500 | 0% | 10.25% |
| United Midwest Savings Bank | 3 | $881,900 | 33% | 11.25% |
| Readycap Lending, LLC | 3 | $129,000 | 0% | 10.25% |
| First Bank of the Lake | 2 | $172,000 | 100% | 10.75% |
| Oconee State Bank | 2 | $582,700 | 50% | 10.62% |
| Northeast Bank | 2 | $80,250 | 50% | 11.62% |
What stands out in this market
Reading the figures above against the national picture:
- Loans here run larger than average. The median of $194,600 is 30% above the $150,000 national median. Expect lenders in this market to be geared toward bigger deals, and expect a small request to get less attention.
- Startup share is about average, at 27% against 34% nationally.
- No single lender dominates, but the top three made 39% of these loans, so the shortlist below covers most of the active market.
Which of them lend to new businesses
Of those loans, 27.3% went to businesses the SBA classes as startups — new, under two years old, or opening with the proceeds. These are the lenders in this market that actually wrote them.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| First Bank of the Lake | 2 | $172,000 | 100% | 10.75% |
| Newtek Bank | 2 | $112,500 | 33% | 11.50% |
How to use this
- Shortlist three lenders from the table whose median loan is close to what you need.
- Ask each whether they are a Preferred Lender and how many 7(a) loans they closed last year. See choosing an SBA lender.
- Check your coverage first with the affordability calculator so you ask for a number the cash flow supports.
- Assemble the package before you call. The document checklist is the single biggest thing you control.
Compare other markets
- Other sectors in Alabama: restaurants and hotels, retail, construction, personal services, healthcare, professional services
- Finance in comparable states: Oklahoma, Connecticut, Nevada, Louisiana, Wisconsin, Virginia