Best SBA Lenders for Loans Under $350K
The most active SBA 7(a) lenders for smaller loans, ranked by deal count and spread. See who specializes in the $0-$350K range.
Small Loan Specialists
Most "best SBA lender" lists focus on big deals. But the majority of SBA borrowers need $350K or less. These borrowers face a different competitive landscape: higher spreads, fewer lender options, and more variance in pricing.
We identified lenders who are most active in the $0-$350K range, where small business lending actually happens.
See which lenders offer better pricing
LenderHawk shows real spreads from 2,500+ lenders, based on real SBA lending data.
Search Lenders →Most Active Lenders: Loans Under $350K
| # | Lender | Type | Deals↓ | Avg Spread | Avg Size |
|---|---|---|---|---|---|
| 1 | The Huntington National Bank | bank | 72,655 | P + 2.20% | $207K |
| 2 | Wells Fargo Bank National Association | bank | 56,324 | P + 2.78% | $304K |
| 3 | JPMorgan Chase Bank, National Association | bank | 43,269 | P + 2.47% | $192K |
| 4 | U.S. Bank, National Association | bank | 41,968 | P + 2.17% | $243K |
| 5 | TD Bank, National Association | bank | 31,893 | P + 2.38% | $144K |
| 6 | Manufacturers and Traders Trust Company | bank | 25,137 | P + 2.36% | $135K |
| 7 | PNC Bank, National Association | bank | 18,669 | P + 2.29% | $243K |
| 8 | Live Oak Banking Company | bank | 16,245 | P + 1.98% | $1.3M |
| 9 | Northeast Bank | bank | 14,392 | P + 2.88% | $171K |
| 10 | BayFirst National Bank | bank | 13,739 | P + 3.33% | $213K |
| 11 | Celtic Bank Corporation | bank | 13,342 | P + 2.65% | $505K |
| 12 | KeyBank National Association | bank | 11,935 | P + 2.34% | $349K |
| 13 | Readycap Lending, LLC | nonbank | 10,604 | P + 3.62% | $487K |
| 14 | Newtek Bank, National Association | bank | 10,568 | P + 3.28% | $461K |
| 15 | Columbia Bank | bank | 10,563 | P + 2.95% | $452K |
| 16 | Zions Bank, A Division of | bank | 9,817 | P + 2.26% | $241K |
| 17 | Eastern Bank | bank | 9,127 | P + 1.84% | $101K |
| 18 | Truist Bank | bank | 8,674 | P + 2.23% | $464K |
| 19 | Newtek Small Business Finance, Inc. | nonbank | 8,378 | P + 2.86% | $714K |
| 20 | Citizens Bank, National Association | bank | 8,192 | P + 2.42% | $338K |
Small-Deal Dynamics
The small-loan market looks very different from the national rankings. You'll see more nonbank lenders, credit unions, and community banks. Large national banks tend to focus their SBA resources on bigger deals.
Pay attention to the spread column. Some high-volume small-loan lenders maintain competitive pricing. Others charge wider spreads because they're competing on speed or convenience rather than rate.
Find Lenders for Your Loan Size
Search by your loan size range to see which lenders are most active and competitive.
Search by Size →Data & Methodology
Source: real SBA lending data, publicly available from sba.gov. Over 1,000,000+ loan approvals analyzed.
Spread methodology: Spread over Prime Rate, calculated from loan approval data. Deal-count-weighted averages are used for lender rankings. This is one component of total cost — fees, terms, and prepayment penalties also matter.
Minimum threshold: Lenders must have at least 10 qualifying deals to appear in named rankings.
Limitations: Data reflects loan approvals, not final terms. Some loans may have been modified after approval. Spread estimates are based on available fields and may not capture all fee structures.
See our full methodology for details.
Frequently Asked Questions
Which lenders focus on small SBA loans?
Community banks, credit unions, and specialized nonbank lenders often focus on the under-$350K segment. See the table above for the most active lenders by deal count.
Do small SBA loans have higher rates?
Yes. Median spreads for loans under $150K are typically 1-2 points higher than for loans over $1M. This reflects higher per-dollar underwriting costs for smaller deals.