Mining & Oil/Gas
SBA Lenders for Mining & Oil/Gas
Top lenders ranked by real SBA lending data for mining & oil/gas nationwide.
What Borrowers Should Know
Mining & Oil/Gas borrowers are getting better pricing than the national average. The median spread here is P+2.42%, which is 33 basis points better than the national median of P+2.75%. This suggests lenders view this industry as less risky than average, likely because cash flows are tied to commodity prices that markets price transparently. If you're in this sector, you have negotiating room—ask for pricing at or better than P+2.42%.
Two lenders dominate this industry with 344 of 1,870 total deals (18%). Western Commerce Bank and PNC Bank have deep expertise here, meaning they move faster and understand your business model. However, this concentration also means 426 active lenders are competing for deals—shop broadly. Smaller regional lenders may offer better terms to win your business, especially if you're outside TX, NM, and OK where the top two lenders are most focused.
The average deal size of $581,650 is notably small relative to typical mining and energy projects. This suggests SBA lending here funds working capital, equipment, or expansion—not major capital projects. If you need $2M+, you'll likely need conventional financing or multiple lenders. Conversely, if you're under $1M, SBA 7(a) loans are heavily used in this space, so underwriting processes are streamlined.
Total SBA Loans
2,435
Active Lenders
466
Avg Deal Size
$654K
Total Volume
$1.6B
Mining & Oil/Gas SBA loans average $654K in deal size across 2,435 total loans. The median 7(a) spread in this segment is P + 2.39%.
Top Lenders for Mining & Oil/Gas
Ranked by total deal count nationwide.
| # | Lender | Type | Deals | Avg Size | Spread | |
|---|---|---|---|---|---|---|
| 1 | Western Commerce Bank | Bank | 179 | $344K | P + 2.07%GOOD | |
| 2 | PNC Bank, National Association | Bank | 172 | $51K | P + 3.73%HIGH | |
| 3 | Zions Bank, A Division of | Bank | 85 | $309K | P + 2.53%AVERAGE | |
| 4 | Wells Fargo Bank National Association | Bank | 85 | $344K | P + 3.56%HIGH | |
| 5 | JPMorgan Chase Bank, National Association | Bank | 76 | $431K | P + 1.91%GOOD | |
| 6 | The Huntington National Bank | Bank | 74 | $669K | P + 2.24%GOOD | |
| 7 | Northeast Bank | Bank | 53 | $242K | P + 2.91%ABOVE AVG | |
| 8 | Mountain America FCU | Bank | 44 | $90K | P + 3.73%HIGH | |
| 9 | Bank of Hays | Bank | 41 | $432K | P + 1.46%COMPETITIVE | |
| 10 | BancFirst | Bank | 40 | $412K | P + 1.66%GOOD | |
| 11 | Newtek Small Business Finance, Inc. | Non-Bank | 35 | $2.6M | P + 2.78%ABOVE AVG | |
| 12 | KeyBank National Association | Bank | 32 | $669K | P + 2.25%GOOD | |
| 13 | U.S. Bank, National Association | Bank | 29 | $113K | P + 2.62%AVERAGE | |
| 14 | State Bank of Southern Utah | Bank | 27 | $95K | P + 1.91%GOOD | |
| 15 | SouthWest Bank | Bank | 27 | $594K | P + 1.81%GOOD |
Top States for Mining & Oil/Gas
Where mining & oil/gas SBA lending is most active.