SBA 7(a) lenders are financial institutions that participate in the U.S. Small Business Administration’s 7(a) loan program. These lenders can include traditional banks, credit unions, community development financial institutions, and SBA-approved non-bank lenders.
SBA 7(a) lenders play a critical role in the program by originating, underwriting, and servicing 7(a) loans. While the SBA provides a government guarantee that reduces the risk for lenders, it’s the lenders who make the credit decisions and fund the loans. This partnership between the SBA and approved lenders enables small businesses that may not meet the requirements of traditional loans to access financing with favorable terms and conditions, such as longer repayment periods and lower down payments.
Fiscal Year 2024
1473
7(a) Lenders
113
Big 7(a) Lenders
(>$50M in Loans)
Over 1500 lenders participated in the 7(a) program last year. These lenders differ in their current level of activity, expertise, preferences, and more, meaning that some will be better than others for a particular loan. This is where 7aSavvy comes in. Our extensive experience and connections give us the peerless ability to connect you with the best lender for your particular loan. And not only do we connect you with the best lender, but also with the best person within each lender. This additional level of connection makes our lender-borrower matches uniquely effective.
Top 7(a) Lenders (FY 2024)
National Rank
Lender
Number of Loans
Total Value of Loans
1
Newtek Small Business Finance
3,819
$2,098,740,400
2
Live Oak Banking
1,440
$1,983,953,500
3
Huntington National Bank
7,577
$1,530,064,700
4
Readycap Lending
3,571
$1,042,855,800
5
U.S. Bank
3,119
$708,227,200
6
JPMorgan Chase
2,553
$626,150,300
7
Bank of America
1,190
$609,574,600
8
First Internet Bank of Indiana
397
$580,272,200
9
TD Bank
3,996
$569,701,600
10
Wells Fargo
2,224
$567,031,300
11
BayFirst National Bank
3,187
$508,046,500
12
Byline Bank
410
$504,582,400
13
Celtic Bank
960
$499,440,300
14
GBank
179
$474,608,300
15
First Bank of the Lake
705
$389,591,300
16
Harvest Small Business Finance
331
$330,823,000
17
Cadence Bank
793
$293,718,200
18
Northeast Bank
2,552
$289,033,200
19
United Midwest Savings Bank
843
$279,922,300
20
Old National Bank
241
$262,459,100
21
Bank of Hope
283
$245,287,500
22
Berkshire Bank
189
$236,670,700
23
KeyBank
702
$226,749,400
24
M&T Bank
1,832
$207,807,100
25
Enterprise Bank & Trust
162
$205,674,200
Note: A bigger lender isn’t always better! The best lender for you may or may not be on this list.
Top 7(a) Lenders (FY 2024)
National Rank
Lender
Number of Loans
Total Value of Loans
1
Newtek Small Business Finance
3,819
$2,098,740,400
2
Live Oak Banking
1,440
$1,983,953,500
3
Huntington National Bank
7,577
$1,530,064,700
4
Readycap Lending
3,571
$1,042,855,800
5
U.S. Bank
3,119
$708,227,200
6
JPMorgan Chase
2,553
$626,150,300
7
Bank of America
1,190
$609,574,600
8
First Internet Bank of Indiana
397
$580,272,200
9
TD Bank
3,996
$569,701,600
10
Wells Fargo
2,224
$567,031,300
11
BayFirst National Bank
3,187
$508,046,500
12
Byline Bank
410
$504,582,400
13
Celtic Bank
960
$499,440,300
14
GBank
179
$474,608,300
15
First Bank of the Lake
705
$389,591,300
16
Harvest Small Business Finance
331
$330,823,000
17
Cadence Bank
793
$293,718,200
18
Northeast Bank
2,552
$289,033,200
19
United Midwest Savings Bank
843
$279,922,300
20
Old National Bank
241
$262,459,100
21
Bank of Hope
283
$245,287,500
22
Berkshire Bank
189
$236,670,700
23
KeyBank
702
$226,749,400
24
M&T Bank
1,832
$207,807,100
25
Enterprise Bank & Trust
162
$205,674,200
Note: A bigger lender isn’t always better! The best lender for you may or may not be on this list.
Top 7(a) Lenders (FY 2024)
National Rank
Lender
Number of Loans
Total Value of Loans
1
Newtek Small Business Finance
3,819
$2,098,740,400
2
Live Oak Banking
1,440
$1,983,953,500
3
Huntington National Bank
7,577
$1,530,064,700
4
Readycap Lending
3,571
$1,042,855,800
5
U.S. Bank
3,119
$708,227,200
6
JPMorgan Chase
2,553
$626,150,300
7
Bank of America
1,190
$609,574,600
8
First Internet Bank of Indiana
397
$580,272,200
9
TD Bank
3,996
$569,701,600
10
Wells Fargo
2,224
$567,031,300
11
BayFirst National Bank
3,187
$508,046,500
12
Byline Bank
410
$504,582,400
13
Celtic Bank
960
$499,440,300
14
GBank
179
$474,608,300
15
First Bank of the Lake
705
$389,591,300
16
Harvest Small Business Finance
331
$330,823,000
17
Cadence Bank
793
$293,718,200
18
Northeast Bank
2,552
$289,033,200
19
United Midwest Savings Bank
843
$279,922,300
20
Old National Bank
241
$262,459,100
21
Bank of Hope
283
$245,287,500
22
Berkshire Bank
189
$236,670,700
23
KeyBank
702
$226,749,400
24
M&T Bank
1,832
$207,807,100
25
Enterprise Bank & Trust
162
$205,674,200
Note: A bigger lender isn’t always better! The best lender for you may or may not be on this list.
