Utilities
SBA Lenders for Utilities
Top lenders ranked by real SBA lending data for utilities nationwide.
What Borrowers Should Know
Utilities borrowers pay 19 basis points less than the national average (P+2.56% vs P+2.75%), suggesting this sector offers modest pricing leverage. With 1,160 total deals across 400 active lenders, you have real competition among lenders—but the relatively small spread advantage means you should compare loan terms beyond just rate, such as prepayment penalties, documentation requirements, and closing timeline.
The top 5 lenders control roughly 201 of 1,160 deals (17%), meaning the majority of lending is dispersed. However, Wells Fargo alone leads with 61 deals. This fragmentation is actually good news for you: smaller regional and community banks are actively competing in this space, which may mean more flexibility on underwriting or faster decisions if you approach non-mega-bank lenders.
The median deal size of $556,260 is well below the SBA 7(a) ceiling of $5M. California, Texas, and Massachusetts account for 338 of 1,160 deals (29%), which suggests utilities lending concentration in certain geographies. If you're located outside these high-activity states, you may face longer timelines or less familiarity from lenders, so plan to educate them on your utility sector specifics.
Total SBA Loans
1,160
Active Lenders
376
Avg Deal Size
$556K
Total Volume
$645.3M
Utilities SBA loans average $556K in deal size across 1,160 total loans. The median 7(a) spread in this segment is P + 2.56%.
Top Lenders for Utilities
Ranked by total deal count nationwide.
| # | Lender | Type | Deals | Avg Size | Spread | |
|---|---|---|---|---|---|---|
| 1 | Wells Fargo Bank National Association | Bank | 61 | $72K | P + 3.95%HIGH | |
| 2 | The Huntington National Bank | Bank | 40 | $100K | P + 2.31%AVERAGE | |
| 3 | PNC Bank, National Association | Bank | 37 | $200K | P + 3.44%ABOVE AVG | |
| 4 | Manufacturers and Traders Trust Company | Bank | 33 | $309K | P + 2.48%AVERAGE | |
| 5 | U.S. Bank, National Association | Bank | 30 | $354K | P + 3.07%ABOVE AVG | |
| 6 | Northeast Bank | Bank | 27 | $147K | P + 3.13%ABOVE AVG | |
| 7 | Granite State Economic Develop | CDC/504 | 23 | $974K | — | |
| 8 | BayFirst National Bank | Bank | 21 | $182K | P + 3.83%HIGH | |
| 9 | JPMorgan Chase Bank, National Association | Bank | 20 | $231K | P + 3.55%HIGH | |
| 10 | United Midwest Savings Bank National Association | Bank | 20 | $146K | P + 2.75%AVERAGE | |
| 11 | Celtic Bank Corporation | Bank | 17 | $455K | P + 2.63%AVERAGE | |
| 12 | Newtek Bank, National Association | Bank | 17 | $2.1M | P + 3.03%ABOVE AVG | |
| 13 | Byline Bank | Bank | 17 | $1.1M | P + 2.78%ABOVE AVG | |
| 14 | TD Bank, National Association | Bank | 16 | $106K | P + 3.72%HIGH | |
| 15 | Eastern Bank | Bank | 14 | $97K | P + 2.87%ABOVE AVG |
Top States for Utilities
Where utilities SBA lending is most active.