What is an SBA Preferred Lender?

As a government body, the Small Business Administration works to help small businesses get the funding they need for things like expansion, resolving debts, renovation and other tasks that independent businesses might struggle with, especially in unforeseen circumstances like the Covid-19 pandemic.

Although they don’t offer up the funds to do this, they do work with many different lenders across the US, backing up to 85% of the amount in order to prevent as much risk for banks or other alternative lenders.

Being such a prestigious and reputable provider of finance, the SBA will only work with and help you secure funding from their list of pre-approved lenders. These are known as Preferred Lenders and each one will have official documentation as well as carry the SBA’s logo so you know they are legitimate.

You can use their SBA Lender Match service in order to connect with a potential lender offering funding; simply fill in the quick five minute questionnaire and receive a list of potential matches in just two short days.

You may also be interested in working with one of the SBA’s intermediary lenders, who offer microloans to small businesses. Use their state lookup tool here to find out which ones you’re eligible for where you’re located.

As an example of the kinds of businesses you’ll be looking to lend from, the top one hundred most active lenders for the SBA 7(a) program - their most popular loan - in the financial year of 2021 (up until June 30th) are as follows:

Lender Name  

 Number of Loans Approved

Approval Amount 

Live Oak Banking Company

923  

$1,303,399,300 

The Huntington National Bank 

2864  

$540,248,500 

Celtic Bank Corporation 

318  

$423,351,400 

Byline Bank 

324  

$388,448,300 

Newtek Small Business Finance, Inc. 

576  

$377,099,600 

Wells Fargo Bank, National Association 

1273

$370,319,400

Readycap Lending, LLC 

247  

$307,623,300 

Harvest Small Business Finance, LLC 

240  

$276,648,600 

Enterprise Bank & Trust 

236  

$249,502,400 

KeyBank National Association 

561  

$249,349,400 

U.S. Bank, National Association 

997  

$229,080,600 

Commonwealth Business Bank 

154  

$227,370,000 

United Midwest Savings Bank, National Association 

817  

$203,351,600 

Bank of the West 

250  

$201,652,000 

BBVA USA 

347  

$197,131,000 

MUFG Union Bank, National Association 

137  

$193,785,900 

TD Bank, National Association

646 

$176,643,700

Berkshire Bank 

176  

$172,391,600 

Wallis Bank 

91  

$165,289,100 

Metro City Bank 

76  

$154,257,900 

Bank of Hope 

166  

$144,307,000 

Citizens Bank 

203  

$143,362,100 

Regions Bank 

110  

$137,707,700 

Bank of George 

65  

$137,149,900 

First Bank of the Lake

101  

$136,972,300 

Cadence Bank, National Association 

376  

$136,035,600 

FinWise Bank 

108  

$133,774,100 

Pacific Western Bank 

97  

$133,206,200 

Open Bank 

73  

$130,897,400 

Umpqua Bank 

124  

$128,401,900 

Manufacturers and Traders Trust Company 

777  

$128,385,500 

Peoples Bank 

96  

$126,560,600 

US Metro Bank

66  

$125,505,600 

Truist Bank d/b/a Branch Banking & Trust Co 

117  

$124,446,100 

Zions Bank, A Division of 

193  

$111,687,200 

Pacific City Bank 

71  

$110,951,500 

Pinnacle Bank 

94  

$107,131,800 

IncredibleBank 

71  

$102,792,600 

Hanmi Bank 

108  

$102,782,400 

First Home Bank 

241  

$98,726,000 

The Bancorp Bank 

127  

$97,468,900 

Meridian Bank 

104  

$96,958,500 

Fund-Ex Solutions Group, LLC 

91  

$94,509,600 

Dogwood State Bank 

139  

$94,008,500 

Midwest Regional Bank 

109  

$86,798,600 

First Bank 

92  

$86,691,500 

Old National Bank 

91  

$86,267,200 

First National Bank of Pennsylvania 

108  

$85,684,300 

United Community Bank 

122  

$85,405,000 

First Chatham Bank 

61  

$83,360,200 

First Internet Bank of Indiana 

79  

$82,404,100 

Bank of America, National Association 

171  

$81,476,800 

Webster Bank, National Association 

159  

$79,876,900 

VelocitySBA, LLC

77  

$78,271,500 

LendingClub Bank, National Association 

55  

$77,522,500 

Summit State Bank 

29  

$76,711,000 

South State Bank, National Association 

82  

$75,514,100 

First Western SBLC, Inc 

38  

$75,192,000 

HomeTrust Bank 

60  

$72,867,400 

First Savings Bank 

94  

$72,397,700 

Colony Bank 

56  

$71,905,300 

Comerica Bank 

166  

$71,799,200 

NewBank 

51  

$68,210,000 

CalPrivate Bank 

55  

$67,923,600 

First Choice Bank 

54  

$67,347,600 

Ameris Bank 

64  

$66,806,100 

Synovus Bank 

60  

$66,425,100 

Home Loan Investment Bank, F.S.B. 

21  

$66,235,000 

First-Citizens Bank & Trust Company 

72  

$66,228,900 

First Commonwealth Bank 

73  

$65,618,400 

East West Bank 

66  

$65,594,100 

Gulf Coast Bank and Trust Company 

76  

$64,843,100 

Wilmington Savings Fund Society, FSB 

114  

$62,596,500 

Merchants Bank of Indiana 

52  

$60,700,100 

Independent Bank 

78  

$60,097,600 

T Bank, National Association 

36  

$59,458,400 

First Financial Bank 

64  

$59,085,400 

Santa Cruz County Bank 

39  

$58,399,000 

JPMorgan Chase Bank, National Association 

194  

$58,038,900 

US Eagle FCU 

23  

$57,710,500 

America First FCU 

76  

$56,843,400 

Five Star Bank 

196  

$55,332,000 

Fifth Third Bank 

63  

$54,859,200 

Golden Bank, National Association 

40  

$54,414,600 

Meadows Bank 

56  

$53,094,800 

Pilot Bank 

53  

$52,949,900 

Customers Bank 

62  

$52,244,000 

Hanover Community Bank 

45  

$50,997,000 

Paradise Bank 

37  

$50,870,300 

Atlantic Capital Bank, National Association 

52  

$49,410,900 

Sunflower Bank, National Association 

58  

$48,512,000 

Bank Five Nine 

60  

$48,107,300 

Quantum National Bank 

35  

$47,428,700 

North State Bank 

73  

$46,949,200 

Dime Community Bank

45  

$46,610,500 

Fountainhead SBF LLC 

33  

$46,605,600 

American Continental Bank 

35  

$46,054,500 

Red River State Bank 

57  

$45,732,600 

MidFirst Bank

29  

$44,710,500 

Citizens Bank, National Association

48

$43,624,300

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