Best SBA 7(a) lenders for electrical contractors
The top SBA 7(a) lenders for electrical contractors (NAICS 238210) are The Huntington National Bank, U.S. Bank, National Association, TD Bank, National Association, ranked by loan volume. Between FY2020 and Q1 FY2026 (2025-12-31), the SBA 7(a) program approved 4,137 loans totaling $1.63B to businesses in this industry. Average loan size: $395K. Average rate: 9.15%. Industry-wide charge-off rate (FY2020–FY2023 cohort): 2.35%.
Loans
4,137
Total $
$1.63B
Avg loan
$395K
Avg rate
9.15%
Avg term
123 mo
Industry chg-off rate
2.35%
FY20–FY23 cohort
Top 15 lenders in this industry
| # | Lender | Loans | Total $ | Avg loan | Avg rate | Chg-off % |
|---|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 385 | $90.0M | $234K | 8.50% | 0.84% |
| 2 | U.S. Bank, National Association | 331 | $40.1M | $121K | 9.00% | 4.60% |
| 3 | TD Bank, National Association | 286 | $36.3M | $127K | 10.35% | 6.33% |
| 4 | JPMorgan Chase Bank, National Association | 223 | $56.7M | $254K | 9.88% | 2.86% |
| 5 | Manufacturers and Traders Trust Company | 148 | $21.9M | $148K | 10.12% | 6.33% |
| 6 | Northeast Bank | 143 | $24.1M | $168K | 10.92% | 40.00% |
| 7 | BayFirst National Bank | 132 | $20.7M | $157K | 11.40% | 5.36% |
| 8 | Wells Fargo Bank National Association | 126 | $24.3M | $193K | 10.77% | 0.00% |
| 9 | Newtek Bank, National Association | 88 | $45.2M | $513K | 11.33% | 0.00% |
| 10 | Readycap Lending, LLC | 85 | $26.7M | $314K | 11.77% | 0.00% |
| 11 | United Midwest Savings Bank National Association | 75 | $18.5M | $247K | 9.25% | 7.69% |
| 12 | Bank of America, National Association | 66 | $22.2M | $336K | 7.12% | 0.00% |
| 13 | PNC Bank, National Association | 64 | $7.6M | $119K | 10.24% | 0.00% |
| 14 | Cadence Bank | 53 | $19.2M | $362K | 9.46% | 0.00% |
| 15 | Newtek Small Business Finance, Inc. | 52 | $34.5M | $663K | 8.73% | 1.92% |
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Methodology
Computed from the SBA 7(a) FOIA dataset (as of 2025-12-31), filtered to NAICS code 238210. Charge-off rates are calculated on the FY2020–FY2023 cohort only.