Construction
SBA Lenders for Building Construction
Top lenders ranked by real SBA lending data for building construction nationwide.
What Borrowers Should Know
Building construction borrowers are getting better pricing than the national average. The median spread in this industry is P+2.40%, which is 35 basis points lower than the national median of P+2.75%. This suggests lenders view construction loans as relatively lower-risk, or competition among the 363 active lenders is keeping rates competitive. If you're shopping for a construction loan, use this as a benchmark—ask your lender why they're charging more than P+2.40%.
California dominates this market, representing 3,769 of 5,251 total deals (72%). This concentration means loan products, underwriting standards, and lender relationships are heavily shaped by CA market conditions, labor costs, and permitting timelines. If your construction business is outside California, you may face longer approval timelines or less familiar lenders—but you might also find less competition for your local lender's capital.
The average SBA construction loan is $347,868—relatively modest for a construction project. This suggests most borrowers are funding small commercial builds, renovations, or specialized construction services, not large commercial developments. If your project is significantly larger, you may need to layer SBA financing with other funding sources, or you'll be competing in a smaller pool of lenders experienced with bigger deals.
Total SBA Loans
29,827
Active Lenders
1,388
Avg Deal Size
$245K
Total Volume
$7.3B
Building Construction SBA loans average $245K in deal size across 29,827 total loans. The median 7(a) spread in this segment is P + 2.43%.
Top Lenders for Building Construction
Ranked by total deal count nationwide.
| # | Lender | Type | Deals | Avg Size | Spread | |
|---|---|---|---|---|---|---|
| 1 | U.S. Bank, National Association | Bank | 3,050 | $64K | P + 2.66%AVERAGE | |
| 2 | The Huntington National Bank | Bank | 2,448 | $110K | P + 2.30%AVERAGE | |
| 3 | TD Bank, National Association | Bank | 2,244 | $80K | P + 2.74%AVERAGE | |
| 4 | Wells Fargo Bank National Association | Bank | 1,815 | $126K | P + 2.98%ABOVE AVG | |
| 5 | JPMorgan Chase Bank, National Association | Bank | 1,716 | $160K | P + 2.64%AVERAGE | |
| 6 | Manufacturers and Traders Trust Company | Bank | 1,268 | $97K | P + 2.68%AVERAGE | |
| 7 | PNC Bank, National Association | Bank | 799 | $76K | P + 2.73%AVERAGE | |
| 8 | Northeast Bank | Bank | 783 | $177K | P + 2.97%ABOVE AVG | |
| 9 | BayFirst National Bank | Bank | 666 | $187K | P + 3.51%HIGH | |
| 10 | KeyBank National Association | Bank | 474 | $146K | P + 2.49%AVERAGE | |
| 11 | Eastern Bank | Bank | 456 | $90K | P + 2.09%GOOD | |
| 12 | United Midwest Savings Bank National Association | Bank | 439 | $174K | P + 2.72%AVERAGE | |
| 13 | Celtic Bank Corporation | Bank | 405 | $155K | P + 2.75%AVERAGE | |
| 14 | Zions Bank, A Division of | Bank | 388 | $218K | P + 2.27%AVERAGE | |
| 15 | Readycap Lending, LLC | Non-Bank | 373 | $244K | P + 4.01%HIGH |
Top States for Building Construction
Where building construction SBA lending is most active.