Most Active SBA 7(a) Lenders

• According to SBA.gov, the following are the 10 most active SBA 7(a) lenders, ranked by their FY2021 lending volume :
•  Live Oak Banking Company 
• The Huntington National Bank
• Newtek Small Business Finance 
• Celtic Bank Corporation
•  Byline Bank 
• Wells Fargo Bank, National Association
•  Harvest Small Business Finance, LLC
• Readycap Lending, LLC
•  U.S. Bank, National Association 
• Enterprise Bank & Trust
•  Bank of the West 

The Huntington National Bank

• Huntington National Bank is a "full-service banking provider primarily operating across a seven-state banking franchise of Ohio, Illinois, Indiana, Kentucky, Michigan, Pennsylvania, and West Virginia."
• The bank is among the top SBA 7(a) lenders in the US by volume, and it provides loans for both startups and established businesses. 
• In 2020, Huntington National Bank had approved 787 SBA 7(a) loans, with an approval amount of $150.6 million. 

Summary

• Banks do not typically offer business startup loans because these are the riskiest types of loans that can be offered. However, there ate various lending bodies, such as Fundera, that offer SBA loans to startups. We can, therefore, shift our focus from banks to lending bodies in general.