Best SBA-Approved Lenders For 7(a) Loans
These top SBA lenders can help small businesses find SBA-backed loans for working capital, equipment, real estate, expansion, and more.
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Editor & Senior Staff Writer
Last updated onUpdated
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We evaluated the best SBA lenders based on loan options, borrower requirements, funding amounts, application process, customer support, and overall value. These are our top picks.
Compare Our Top Picks
| Provider | Best For | SBA Loan Types | FICO | Next Steps |
|---|---|---|---|---|
 | Best For Fast Prequalification | 7(a), 504 | 660 | |
 | Best For Mobile Applications | 7(a), 504, Microloans | Undisclosed | |
 | Best For Industry-Specific Loans | 7(a), 504 | 680 | |
 | Best For Online SBA Loans | 7(a), Express, 504 | Undisclosed | |
 | Best For Growing Businesses | 7(a) | Undisclosed | |
| Show More Options | ||||
 | Best For Veterans | 7(a) | 680 | |
 | Best For SBA Express loans | 7(a), 504, Celtic Express, Celtic Advantage | Undisclosed | |
 | Best Large SBA-Approved Bank | 7(a), 504 | 680 | |
| Show Fewer Options |
Grasshopper Bank SBA Lending
Best OverallBest For Fast Prequalification
Grasshopper Bank is best for businesses that want an online SBA lender with a fast digital prequalification process.
Grasshopper offers SBA 7(a) and 504 loans for working capital, acquisitions, expansion, commercial real estate, buildouts, equipment, and other business needs. Borrowers can apply online and get prequalified quickly before submitting full documentation.
SBA Preferred Lender
Lender Type
Digital bank
Other Funding Options
Term loans
PROS
- High borrowing limits
- Commercial real estate financing
- Digital application process
CONS
- Nontransparent rates & fees
Lendtek
Best For Mobile Applications
Lendtek is best for business owners who want to compare SBA and non-SBA funding options from a mobile app.
Lendtek is a lending marketplace, not a direct lender. Through its lender network, borrowers may be matched with SBA 7(a), 504, or Microloan options, as well as alternative funding such as business credit cards, HELOCs, equipment financing, and lines of credit.
SBA Preferred Lender
Lender Type
Lending marketplace
Other Funding Options
Lines of credit, equipment financing, business credit cards, HELOCs
PROS
- Strong mobile app
- Multiple SBA funding options
- Loans available in all 50 states
CONS
- No eligibility information posted online
Live Oak Bank
Best For Industry-Specific Loans
Live Oak Bank is best for established businesses that want an experienced SBA lender with industry-specific loan teams.
Live Oak offers SBA 7(a) and 504 loans for working capital, acquisitions, commercial real estate, equipment, and expansion. As an SBA Preferred Lender with nationwide availability, Live Oak is a great option for borrowers seeking larger SBA loans and specialized guidance.
SBA Preferred Lender
Lender Type
Bank
Other Funding Options
Conventional loans, lines of credit
PROS
- High SBA lending volume
- Guidance through the loan process
- Available in all 50 states
CONS
- Slow application process
- Website isn't very informative
First Internet Bank
Best For Online SBA Loans
First Internet Bank is best for businesses that want SBA financing from an online-only bank.
First Internet Bank offers SBA 7(a), 504, and Express loans for business acquisition, working capital, inventory, equipment, tenant improvements, real estate, and other eligible business needs. As an SBA Preferred Lender, it can be a convenient option for borrowers comfortable with a fully online banking experience.
SBA Preferred Lender
Lender Type
Digital bank
Other Funding Options
Commercial lending, business lines of credit, equipment financing
PROS
- Multiple SBA loans available
- SBA loans available in all 50 states
- Fully online application
CONS
- No physical branches
- No eligibility information posted online
Newtek Lending
Best For Growing Businesses
Newtek Bank is best for growing businesses that want SBA funding plus access to other business services.
Newtek offers business lending with long repayment terms, online prequalification, and funding for expansion, acquisitions, refinancing, working capital, and owner-occupied real estate. NewtekOne also offers banking, insurance, payments, payroll, and technology services for businesses that want broader support.
SBA Preferred Lender
Lender Type
Bank/business services provider
Other Funding Options
Business term loans, lines of credit
PROS
- Multiple types of financing available
- Quick prequalification
- Business services available
CONS
- Limited SBA loan details online
- Mixed customer reviews
Ready Capital Lending
Best For Veterans
Ready Capital is best for borrowers who want an experienced non-bank SBA lender. It may be especially appealing to veteran business owners.
Ready Capital offers SBA 7(a) loans for working capital, acquisitions, equipment, real estate, refinancing, and other business needs. As an SBA Preferred Lender, it can streamline parts of the loan process, and veterans may qualify for waived packaging fees.
SBA Preferred Lender
Lender Type
Non-bank SBA lender
Other Funding Options
Commercial real estate loans, small business loans
PROS
- Fee discounts for veterans
- Experienced 7(a) lender
- Non-bank lending option
CONS
- Long application process
- Limited loan details online
Celtic Bank Small Business Loans
Best For SBA Express loans
Celtic Bank is best for businesses that want faster access to smaller SBA-backed loans.
Celtic offers SBA Express, Celtic Express, and Celtic Advantage loans, along with standard SBA 7(a) and 504 financing. Its Express-style options may appeal to borrowers who need working capital, equipment financing, refinancing, or other SBA-backed funding without going through a larger SBA loan process.
SBA Preferred Lender
Lender Type
Bank
Other Funding Options
Construction loans, commercial real estate loans, asset-based lending
PROS
- Fast Celtic Express loans
- Loans available in all 50 states
- Smaller SBA loans available
CONS
- Limited eligibility details online
Wells Fargo Business Loans
Best Large SBA-Approved Bank
Wells Fargo is best for businesses that want SBA financing from a large, established bank.
Wells Fargo is an SBA Preferred Lender offering SBA 7(a) and 504 loans, along with business lines of credit, business credit cards, checking, savings, and other banking services. It’s best suited for borrowers who prefer a traditional bank with a large national footprint.
SBA Preferred Lender
Lender Type
Bank
Other Funding Options
Lines of credit, business credit cards, commercial real estate loans
PROS
- Established national bank
- In-person services available
- Additional funding options
CONS
- Stronger borrower profile required
- Past regulatory issues
Best SBA Lenders For Small Businesses
Frequently Asked Questions
Erica Seppala
Editor & Senior Staff Writer at Merchant Maverick
Erica has been writing about small business finance and technology since 2008. She joined Merchant Maverick in 2018 and specializes in researching and reviewing business software, financial products, and other topics to help small businesses manage and grow their operations. Her expertise has been cited in MSN, Reader's Digest, Vox, U.S. News & World Report, and Real Simple. She is a Certified ProAdvisor for QuickBooks Online and QuickBooks Payroll, a graduate of Limestone University, and currently resides in Greenville, South Carolina.
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