Based on loan amounts, NewtekOne took the lead for the fiscal year 2024, providing $2.1 billion worth of SBA funding to small business owners nationwide. Based on approval count, Huntington National Bank was the winner — it approved 7,577 loans in 2024. Another high-performing SBA lender was Live Oak Bank, with approval amounts close to $2 billion.
Best SBA Lenders in September 2025
The U.S. Small Business Administration (SBA) partners with lenders to offer attractive loan terms and affordable interest rates for small business owners. 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.
Updated on:
August 29, 2025
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Live Oak Bank: Best for large loan amounts
$15,000,000
$1,377,745
Yes
- SBA 7(a)
- SBA 504
- SBA Express
Pros
- Low down payments (typically 10%)
- Access to a business analyst who can help you identify areas of growth for your business
Cons
- No physical branches
- You’ll need to contact a loan officer to apply, but you can get started online
Why we picked it
As one of the nation’s top SBA lenders, Live Oak Bank offers large loan amounts through its SBA 504 program — the maximum goes up to $15,000,000. 504 loan funds can be used for purchasing equipment, partner buyouts, commercial real estate and more. And if you need working capital, Live Oak Bank also offers standard SBA 7(a) loans up to $5,000,000.
In the fiscal year 2024, Live Oak Bank had the largest average loan size of all the lenders on this list, making it a good choice for business owners seeking large loan amounts. However, unlike some other lenders, the bank doesn’t have any physical branch locations, so in-person support won’t be available.
How to qualify
Live Oak Bank doesn’t disclose its annual revenue requirements, but you’ll need to be in business for at least two to three years with a credit score of 650 or higher to qualify for an SBA loan. Contact the lender directly to learn more.
NewtekOne: Best for online support
$15,000,000
$549,552
Yes
- SBA 7(a)
- SBA 504
- SBA microloans
Pros
- Completes documentation and paperwork for you to save time
- Loaned the most SBA 7(a) funds in fiscal year 2024
Cons
- No physical branches
- Not transparent about eligibility criteria
Why we picked it
If you’re looking for a reliable lender you can work with from the comfort of your home, consider NewtekOne. Newtek is an alternative business lender with more than 25 years of experience. There are no physical branches, but it does offer one-on-one loan support online and over the phone.
NewtekOne’s business loans include SBA 7(a), SBA 504 and SBA microloans. But regardless of the loan type, Newtek will complete necessary forms on your behalf, and the same lending specialist will work with you throughout the entire loan process.
NewtekOne funded $2,098,740,400 in SBA loans in fiscal year 2024 — the most of any direct lender. However, Newtek doesn’t disclose its minimum eligibility criteria, so you’ll need to speak with a specialist to understand your loan options.
How to qualify
Newtek isn’t transparent about its requirements for SBA loans. It does generally lend to businesses that are at least two to three years old, though startup loans might be available for borrowers with credit scores of 700 or higher. Contact the lender directly for more information.
Chase Bank: Best for in-person support
$5,000,000 Maximum amount is for 7(a) loans. Maximum for 504 loans varies by project.
$245,261
Yes
- SBA 7(a)
- SBA 504
- SBA Express
Pros
- In-person support available at about 5,000 branches nationwide
- Down payments as low as 10%
Cons
- May need to apply in person
- Not available in Alaska or Hawaii
Why we picked it
If you’d like the option to visit a nearby branch for assistance with your SBA loan application, or imagine yourself sitting down with a banker to discuss your loan options in person, Chase Bank might be your best option. With around 5,000 branches nationwide, Chase is a very accessible lender — plus, it’s also one of the top ten SBA lenders by approval count.
You can get up to $5,000,000 in SBA 7(a) funding with Chase; the maximum for 504 loans isn’t specified. However, you may need to visit a branch to apply.
How to qualify
Chase doesn’t disclose the minimum credit score, time in business or annual revenue you’ll need to qualify for an SBA loan. Contact the bank directly to learn more.
Bank of America: Best for Express loans
$40,000,000$500,000 for Express loans
$512,248
Yes
- SBA 7(a)
- SBA 504
- SBA Express
Pros
- Accessible branch locations
- Higher express loan amounts than other lenders on this list
Cons
- May need to apply in person or over the phone
- Doesn’t disclose minimum credit score requirements
Why we picked it
Unlike some of the other lenders on this list, whose Express loans only go up to $350,000, Bank of America offers SBA Express loans up to $500,000 — this makes it our top choice for businesses looking for faster government-backed funds.
SBA Express loans have an expedited turnaround time of around 36 hours, compared to the typical five to 10 business day timeline with SBA 7(a) loans. That being said, this only accounts for the time it takes for the SBA to review your application — the actual time to funding may be longer.
If you need funds beyond what an Express loan can provide, the 7(a) loan provides up to $5,000,000 — it just comes with a slightly longer wait time.
How to qualify
Bank of America doesn’t disclose its minimum criteria for an SBA loan. However, it’s generally recommended for businesses to be in operation for at least two to three years with a personal credit score of 650 or higher.
U.S. Bank: Best for commercial real estate loans
$12,375,000
$227,069
Yes
- SBA 7(a)
- SBA 504
Pros
- Higher loan amounts for commercial property
- Over 2,000 branches available for in-person support
Cons
- Loans may not be available in every state
- Not transparent about eligibility criteria
Why we picked it
If you’re planning to use your SBA loan funds to purchase commercial property for your business, U.S. Bank might be one of your best options. The bank offers standard SBA 7(a) loans up to $5,000,000 — but if you’re using the loan to build, purchase, expand or refinance property, you may be able to receive an additional $2,000,000 in direct funding.
As an alternative, U.S. Bank’s SBA 504 loan is specifically designed for owner-occupied commercial real estate, offering up to $12,375,000 or more for qualifying businesses. However, loans may not be available in every state.
How to qualify
U.S. Bank doesn’t disclose the minimum credit score, time in business or annual revenue you’ll need to qualify. Contact the lender directly to find out if your business qualifies for an SBA loan.
Huntington National Bank: Best for underserved business owners
$5,000,000
$201,935
Yes
- SBA 7(a)
- SBA 504
- SBA Express
Pros
- Down payments as low as 10%
- No origination or SBA fees for underserved business owners
Cons
- Limited full-service branches
- Not transparent about eligibility criteria
Why we picked it
According to a LendingTree study, male-owned businesses received the majority of SBA loan funding in 2024. To make it easier for women-owned businesses, veterans and minority entrepreneurs to get the funding they need to achieve their goals, Huntington’s Lift Local Business program offers loans designed specifically for business owners who are historically underserved in the market.
The program offers smaller SBA loans (up to $150,000) with no origination or SBA fees. Businesses that participate in the Lift Local program also gain access to free entrepreneurial courses and business planning support. And if you need more than the Lift Local program can provide, Huntington also offers standard SBA 7(a), SBA 504 and SBA Express loans.
How to qualify
Huntington doesn’t disclose its SBA loan requirements, so you’ll need to contact the bank directly to learn more. However, your odds of approval might be higher if you meet the following criteria:
- Minimum credit score: 650
- Minimum time in business: 2 to 3 years
Fundible: Best for startup companies
$10,000,000
$250,000
No
- SBA 7(a)
- SBA 504
- SBA Express
Pros
- Short time in business requirement
- One-on-one support to help you choose the right loan type
Cons
- Not an SBA Preferred Lender, so funding will be slower
- May share your contact information with third-party lenders
Why we picked it
Most SBA lenders require businesses to operate for at least two years before extending credit. Fundible, however, accepts SBA loan applications from businesses after just six months in operation, making it the ideal choice for startups.
Fundible is an online marketplace lender that uses a combination of in-house financing and a network of partner lenders to find the best loan options for your needs. Keep in mind that this means your information could be shared with third parties. Further, Fundible isn’t an SBA Preferred Lender, so it could take two to three months to process and fund your SBA loan.
How to qualify
In order to qualify, you’ll need to meet Fundible’s criteria of:
- Minimum credit score: Not disclosed
- Minimum time in business: 6 months
- Minimum annual revenue: $96,000
What is an SBA loan?
The U.S. Small Business Administration (SBA) partners with banks, credit unions and online lenders to help small businesses get the funding they need.
The SBA guarantees up to 75% to 90% of the loan, which reduces lender risk and potentially makes it easier for borrowers to qualify.
SBA loans come with capped interest rates and long repayment terms, but they’re slower to fund than other types of small business loans. The process from application to funding could take up to two months or longer, though working with an SBA Preferred Lender could shorten this wait to as little as two weeks.
Pros and cons of SBA loans
| Pros | Cons |
|---|---|
Can have more lenient qualification criteria than traditional loans SBA interest rates are capped, and may be lower than traditional term loan rates Long loan terms up to 25 years Funds can be used to cover a variety of business expenses Borrowers can access additional resources via a local Small Business Development Center (SBDC). | Typically requires a down payment May require collateral and/or a personal guarantee to help reduce lender risk. Slow time to funding — potentially as long as 60 to 90 days. Typically not ideal for borrowers with poor credit |
Frequently asked questions
An SBA microloan tends to have more lenient eligibility requirements, making it easier to get than a 7(a) or 504 loan. A microloan generally offers funds between $500 and $50,000 for small businesses. The SBA reports the average microloan is about $13,000.
Despite their advantages, SBA loans tend to be best suited for established businesses, as many lenders require businesses to be in operation for at least a few years to qualify. If your application for an SBA loan is denied, there may be a few steps you can take, depending on the reason why.
If your application was rejected because your time in business is too short, your revenue is too low or your credit score needs work, it might be best to let your business mature before reapplying for financing. You may also be able to qualify for a different type of loan, especially if you’re willing to pay more for the funds.