Best SBA 7(a) lenders for hardware manufacturing
The top SBA 7(a) lenders for hardware manufacturing (NAICS 332510) are The Huntington National Bank, Eastern Bank, Manufacturers and Traders Trust Company, ranked by loan volume. Between FY2020 and Q1 FY2026 (2025-12-31), the SBA 7(a) program approved 61 loans totaling $49.6M to businesses in this industry. Average loan size: $813K. Average rate: 8.08%. Industry-wide charge-off rate (FY2020–FY2023 cohort): 3.03%.
Loans
61
Total $
$49.6M
Avg loan
$813K
Avg rate
8.08%
Avg term
134 mo
Industry chg-off rate
3.03%
FY20–FY23 cohort
Top 15 lenders in this industry
| # | Lender | Loans | Total $ | Avg loan | Avg rate | Chg-off % |
|---|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 6 | $5.8M | $963K | 7.38% | 0.00% |
| 2 | Eastern Bank | 4 | $3.8M | $959K | 6.94% | 0.00% |
| 3 | Manufacturers and Traders Trust Company | 3 | $285K | $95K | 11.25% | 0.00% |
| 4 | Northeast Bank | 3 | $845K | $282K | 11.00% | — |
| 5 | Comerica Bank | 3 | $620K | $207K | 7.33% | 0.00% |
| 6 | Newtek Small Business Finance, Inc. | 2 | $700K | $350K | 6.13% | 0.00% |
| 7 | Washington Trust Bank | 2 | $1.7M | $862K | 8.50% | — |
| 8 | Readycap Lending, LLC | 2 | $554K | $277K | 10.13% | 0.00% |
| 9 | Wells Fargo Bank National Association | 2 | $725K | $362K | 9.35% | 0.00% |
| 10 | Fidelity Bank, National Association | 2 | $1.8M | $893K | 8.53% | — |
| 11 | Hinsdale Bank & Trust Company, National Association | 2 | $3.8M | $1.9M | 7.61% | — |
| 12 | Community State Bank | 2 | $3.2M | $1.6M | 5.63% | 0.00% |
| 13 | Community Bank, National Association | 2 | $1.5M | $763K | 3.63% | 0.00% |
| 14 | TD Bank, National Association | 2 | $497K | $249K | 9.24% | — |
| 15 | Enterprise Bank & Trust | 2 | $2.0M | $1.0M | 4.13% | 0.00% |
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Methodology
Computed from the SBA 7(a) FOIA dataset (as of 2025-12-31), filtered to NAICS code 332510. Charge-off rates are calculated on the FY2020–FY2023 cohort only.