Best SBA Lenders in June 2026

The U.S. Small Business Administration (SBA) partners with lenders to offer attractive loan terms and affordable interest rates for small businesses. Not all of LendingTree’s partners offer SBA loans. If you choose to get business loan offers through LendingTree, you may see results with different types of business loans.

Tara Mastroeni

Written by  Tara Mastroeni

Dawn Daniels

Edited by  Dawn Daniels

Updated Content was accurate at the time of publication.

Expert Verified

Key takeaways
  • The top SBA 7(a) lenders are , and .
  • In the 2025 fiscal year, SBA lenders approved more than 78,000 SBA 7(a) loan applications.
  • In the 2025 fiscal year, the average SBA 504 loan size was just over $1.1 million. 

Best SBA 7(a) lenders

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LenderBest for…Approval CountAverage loan sizeSBA Preferred Lender
Large loan amounts2,280$1,251,171✅
Underserved business owners6,998$298,071✅
Application support4,828$420,445✅
Live Oak Bank

Best for : large loan amounts –

See Your Business Loan Offers
Huntington

Best for : underserved business owners –

See Your Business Loan Offers
NewtekOne

Best for : application support –

See Your Business Loan Offers

What is an SBA Preferred Lender?

Working with an SBA Preferred Lender can help you get the funds you need faster because there’s a streamlined process for loan approval.

SBA Preferred Lenders are authorized to make lending decisions on behalf of the U.S. Small Business Administration (SBA). Most lenders must send loan applications to the SBA for final approval, which contributes to their notoriously long funding times. In contrast, lenders that are part of the Preferred Lender program can make approval decisions in-house, shortening the timeline significantly. 

Top SBA 504 CDC lenders

These are the top Community Development Centers (CDCs) for SBA 504 loans by approval amount, based on fiscal year 2025 data. Because CDCs are typically local, not all of these will be available in your area. You can use the SBA Lender Report to see the top 504 lenders in your state.

Lender Approval countApproval amount Average loan size 
The Mortgage Capital Development Corporation (CA)548$836,421,000$1,526,316
Florida Business Development Corporation (FL)418$440,866,000$1,054,703
Florida First Capital Finance Corporation, Inc. (FL)349$426,988,000$1,223,461
Business Finance Capital (CA)303$385,021,000$1,270,696
California Statewide Certified Development Corporation (CA)308$377,183,000$1,224,620
Mountain West Small Business Finance (UT)264$324,528,000$1,229,273
Empire State Certified Development Corporation dba Pursuit CDC (NY)230$271,816,000$1,181,809
Capital Certified Development Corporation (TX)150$229,509,000$1,530,060
WBD, Inc. (WI)184$190,464,000$1,035,130
Trenton Business Assistance Corporation (NJ)94$167,094,000$1,777,596
Small Business Growth Corporation (IL)178$164,715,000$925,365
SomerCor 504, Inc. (IL)121$162,279,000$1,341,149
Granite State Economic Development Corporation (NH)194$157,925,000$814,046
B:Side Capital (CO)126$117,230,000$930,397
Advantage Certified Development Corporation (CA)55$109,531,000$1,991,473
Midwest Business Finance Corporation (MN)97$100,869,000$1,039,887

SBA 504 CDCs: More details 

SBA 504 loans work a little differently from standard small business loans. Instead of getting all your funding from one source, these loans use a tiered approach to help you secure the financing you need.

A typical SBA 504 financing arrangement looks like this: 

  • The borrower: Makes a 10% down payment from their own funds.
  • Certified Development Company: Provides the SBA-backed portion of the funding, which amounts to 40% of the total project cost.
  • Third-party lender: Provides a first-position loan for the remaining 50% of the project cost.

What is a Certified Development Company (CDC)?

Certified Development Companies are mission-driven nonprofit organizations that are licensed by the SBA. They act as intermediaries between the borrower, the SBA and the lender in the 504 loan application process. 

In addition to providing a portion of the funding, CDCs package, process, close and service these loans on the SBA’s behalf. As a result, they can often offer specialized assistance, like helping you pull your application together or connecting you with a reputable third-party lender that finances 504 loans.

How to find a CDC

Connecting with a CDC is often the first step in applying for a 504 loan. Here’s how to find one.

Use the SBA search tool

While the list above details the top CDCs in the country, as determined by the U.S. Small Business Administration, it’s important to note that these organizations are often focused on facilitating business growth within their local communities. You’re likely to have the most luck if you work with a CDC that serves your area. 

Fortunately, the SBA keeps a list of active CDCs that you can filter by state. Consider using this search tool to help you get started. 

Connect with a 504 lender

It’s also possible to connect with a lender first and ask them to help you find a CDC in your area. However, keep in mind that many 504 lenders service loans nationwide and may not have an existing relationship with any CDCs in your area. While having an existing relationship between the two parties isn’t essential, it can help to streamline the application process..

Does it matter which CDC I pick?

If you’re lucky enough to have multiple CDCs in your area, you may be wondering how to choose between them. 

Start by asking questions about their existing relationships with lenders and their experience financing your type of project. You’ll also want to weigh factors like their responsiveness and efficiency. It’s also a good idea to look up reviews from other business owners who have worked with them on sites like Trustpilot, Reddit and the BBB.

How to choose an SBA lender

Here’s what to consider when choosing an SBA lender:

  • Type of SBA loan: Not all SBA lenders offer every type of SBA loan. No matter what kind of SBA loan you’re looking for, you’ll want to choose a lender who has documented experience with those loan applications.
  • Lender requirements: The SBA doesn’t set official business loan requirements for its products, but individual lenders might. Make sure you meet any outlined eligibility criteria before applying.
  • Type of lender: Both traditional banks and online lenders offer SBA loans. Each lending arrangement has its own pros and cons. For example, online lenders may have more lenient eligibility requirements than traditional banks, but may also charge higher rates. Weigh these options to find a lender that’s right for you.
  • Funding timeline: Traditional SBA loan applications can take 30 to 90 days to fund, but working with an SBA preferred lender can shorten that timeline significantly. 
  • Reputation: User reviews and expert articles can give you information on how responsive a lender is, how easy they are to work with and how clear their process is.

Why choose an SBA loan?

Rather than funding loans directly, the U.S. Small Business Administration assists business owners by guaranteeing a portion of a loan’s value. 

The guarantee protects lenders from loss in the event that the small business owners default on their loans.

As a result, small business lenders are able to offer more favorable terms on SBA loans, including:

  • Relaxed eligibility criteria
  • Lower down payments
  • Longer repayment terms 
  • Competitive interest rates

SBA loans vs. conventional business loans

FeatureSBA loans Conventional business loans 
Interest ratesCapped maximums, vary by lenderNo cap, varies by lender
Repayment terms Up to 25 years Usually shorter, varies by lender
Loan amounts Up to $5 million (or more with a 504 loan)Usually smaller, varies by lender
Collateral requirements Typically required, but the requirement may be flexible May be required, varies by lender
Funding time Slower (30 to 90 days)Faster (as soon as the same day in some cases)

Types of SBA loans

The SBA partners with a wide network of lenders to offer a variety of financing solutions to meet your business needs. Here are the most common SBA loans and what they can provide:

  • SBA 7(a): The most popular type of SBA loan, 7(a) loans offer up to in versatile funds for almost any business expense, such as inventory, payroll, working capital, renovations, startup costs and refinancing debt.
  • SBA CAPLines: These lines of credit fall under the 7(a) loan umbrella, but offer financing on a revolving basis. 
  • SBA Express: This is a speedier version of the popular SBA 7(a) loan, with a turnaround time of around 36 hours. SBA Express loan amounts are capped at .
  • SBA 504: With larger loan amounts up to and longer terms, these funds are ideal for more significant purchases or fixed assets, such as equipment or commercial real estate.
  • SBA microloan: These are smaller loans of up to with shorter loan terms, usually capped at seven years, but they may be more attainable than other types of SBA loans.

Who are the best SBA microloan lenders?

The SBA doesn’t track the same data for its microloan lenders as it does for 7(a) and 504 lenders, so it’s hard to tell which lenders the U.S. Small Business Administration deems the best for these loans.

Still, that doesn’t mean that there aren’t plenty of available options out there. You can find one in your area by searching the SBA microlender list. Because microlenders are often small, local lenders, it’s a good idea to talk with business owners in your community to find the best lender.

Pros and cons of SBA loans

PROS

CONS

  • Slow time to funding 
  • May require collateral and/or a personal guarantee
  • May come with prepayment penalties
  • Typically requires a down payment
  • Typically not ideal for borrowers with poor credit

Methodology 

To make our picks, we considered lenders listed in the SBA Lender Report. In addition to evaluating lender fees, customer service and programs, we took four SBA-specific metrics into consideration:

  • Approval amount: This is the total amount of SBA funding approved by the institution. For 504 CDC lenders, we listed lenders by approval amount to pull popular lenders that can offer sizable loan amounts.
  • Approval count: This is the total number of loan approvals made by the financial institutions and shows how popular a lender is. We favored high-volume lenders for 7(a) loans because of their experience working with SBA criteria and paperwork.
  • Average loan size: This is the average size of the funding package given to the consumer. It gives business owners an idea of what they might be able to expect if they apply with the institution. We factored this in, particularly when choosing lenders for business owners who need large 7(a) loans.
  • Preferred Lender status: For 7(a) loans, all of our picks are part of the Preferred Lender program, which can help speed up time to funding.

Frequently asked questions

The term “SBA lender” applies to any financial institution that offers loans backed by the Small Business Administration (SBA). These can be traditional banks, credit unions or online lenders. 

No, the SBA doesn’t lend money directly to businesses. Instead, it guarantees a portion of the loan in the event that the borrower defaults on their loan payments. This lowers the risk to the lender, allowing them to offer more favorable terms.

An SBA preferred lender is licensed to make lending decisions on behalf of the SBA. When non-preferred lenders must submit loan applications to the SBA for final approval, preferred lenders can make those decisions in-house, which can speed up the funding time drastically for the borrower.

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