SBA Lender Scorecard
The largest SBA 7(a)/504 lenders, ranked by volume, each shown with its fair, default rate (charged off as a share of resolved loans), the apples to apples performance metric. Among major lenders, big ticket specialists default near 3.1%, while some high volume small loan lenders exceed 20%. Volume and performance are not the same thing.
| # | Lender | SBA Loans | Avg Loan | Avg Rate | Default (resolved) |
|---|---|---|---|---|---|
| 1 | Wells Fargo Bank National AssociationSD | 128,156 | $262K | 11.78% | 14.2% |
| 2 | Bank of America, National AssociationNC | 105,168 | $87K | 8.37% | 26.3% |
| 3 | JPMorgan Chase Bank, National AssociationOH | 94,775 | $143K | 11.77% | 19.4% |
| 4 | The Huntington National BankOH | 89,278 | $204K | 10.16% | 9.2% |
| 5 | U.S. Bank, National AssociationOH | 84,391 | $216K | 10.04% | 13.8% |
| 6 | PNC Bank, National AssociationDE | 59,149 | $184K | 11.10% | 17.2% |
| 7 | Citizens Bank, National AssociationRI | 49,269 | $64K | 10.55% | 18.3% |
| 8 | TD Bank, National AssociationDE | 45,930 | $169K | 11.19% | 16.5% |
| 9 | Manufacturers and Traders Trust CompanyNY | 44,147 | $139K | 11.76% | 11.8% |
| 10 | Bank of HopeCA | 39,194 | $245K | 9.64% | 36.3% |
| 11 | Zions Bank, A Division ofUT | 30,332 | $202K | 10.52% | 15.7% |
| 12 | Readycap Lending, LLCNJ | 28,999 | $486K | 12.79% | 29.9% |
| 13 | KeyBank National AssociationOH | 26,303 | $243K | 11.04% | 10.2% |
| 14 | Truist BankNC | 24,293 | $304K | 9.09% | 11.7% |
| 15 | Columbia BankOR | 23,537 | $342K | 12.70% | 13.1% |
| 16 | Capital One, National AssociationVA | 22,671 | $89K | 8.05% | 40.9% |
| 17 | Northeast BankME | 17,900 | $252K | 10.96% | 25.4% |
| 18 | BMO Bank National AssociationIL | 16,870 | $343K | 7.33% | 10.8% |
| 19 | Live Oak Banking CompanyNC | 16,561 | $1.31M | 9.53% | 3.1% |
| 20 | Celtic Bank CorporationUT | 14,321 | $503K | 10.75% | 22.6% |
| 21 | BayFirst National BankFL | 13,738 | $213K | 12.78% | 35.4% |
| 22 | Comerica BankTX | 13,070 | $436K | 9.19% | 21.4% |
| 23 | VelocitySBA, LLCTX | 12,972 | $78K | 10.68% | 30.7% |
| 24 | Banco Popular de Puerto RicoPR | 12,613 | $127K | 11.83% | 10.3% |
| 25 | Popular BankNY | 11,469 | $214K | 10.33% | 40.0% |
| 26 | Eastern BankMA | 11,156 | $110K | 10.41% | 8.3% |
| 27 | Newtek Small Business Finance, Inc.NY | 10,748 | $636K | - | 16.7% |
| 28 | Newtek Bank, National AssociationFL | 10,583 | $461K | - | 0.3% |
| 29 | Fifth Third BankOH | 10,371 | $295K | 9.86% | 13.6% |
| 30 | Regions BankAL | 9,240 | $379K | 9.35% | 12.1% |
| 31 | Citibank, N.A.SD | 9,042 | $135K | 8.98% | 19.6% |
| 32 | Business Loan Center, LLCSC | 8,920 | $446K | - | 37.4% |
| 33 | Cadence BankMS | 8,809 | $460K | 10.68% | 14.4% |
| 34 | Santander Bank, National AssociationDE | 8,389 | $133K | 12.67% | 11.7% |
| 35 | Old National BankIN | 8,155 | $409K | 8.85% | 10.7% |
| 36 | Glacier BankMT | 8,084 | $244K | 9.26% | 8.0% |
| 37 | First Financial BankOH | 8,050 | $507K | 8.88% | 8.2% |
| 38 | COFSB, National AssociationVA | 8,047 | $43K | - | 10.3% |
| 39 | Associated Bank, National AssociationWI | 7,797 | $159K | 9.21% | 10.2% |
| 40 | MISSINGMAINBANKID | 7,675 | $260K | 9.39% | 3.1% |
Methodology: ranked by cumulative SBA 7(a)/504 loan count. Default = charge off rate on the resolved loans (paid in full or charged off) (loans that have reached a final outcome; excludes cancelled/exempt), not a lifetime or recent vintage rate. Lenders with fewer than 100 resolved loans show “-” (sample too small to publish a fair rate). Read default rate alongside average loan size: small balance lenders inherently run higher. PeerSense analysis of public SBA loan level records. Avg rate = FY2024+ originations.
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