Best SBA 7(a) lenders for industrial machinery and equipment merchant wholesalers
The top SBA 7(a) lenders for industrial machinery and equipment merchant wholesalers (NAICS 423830) are The Huntington National Bank, TD Bank, National Association, JPMorgan Chase Bank, National Association, ranked by loan volume. Between FY2020 and Q1 FY2026 (2025-12-31), the SBA 7(a) program approved 517 loans totaling $402.6M to businesses in this industry. Average loan size: $779K. Average rate: 8.31%. Industry-wide charge-off rate (FY2020–FY2023 cohort): 0.95%.
Top 15 lenders in this industry
| # | Lender | Loans | Total $ | Avg loan | Avg rate | Chg-off % |
|---|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 35 | $20.1M | $575K | 7.39% | 0.00% |
| 2 | TD Bank, National Association | 27 | $6.9M | $255K | 9.23% | 0.00% |
| 3 | JPMorgan Chase Bank, National Association | 23 | $8.3M | $359K | 9.75% | 0.00% |
| 4 | Live Oak Banking Company | 22 | $36.7M | $1.7M | 7.90% | 0.00% |
| 5 | Wells Fargo Bank National Association | 22 | $12.8M | $581K | 8.55% | 0.00% |
| 6 | U.S. Bank, National Association | 21 | $12.9M | $615K | 8.17% | 0.00% |
| 7 | Bank of America, National Association | 21 | $12.6M | $602K | 7.92% | 0.00% |
| 8 | BayFirst National Bank | 18 | $2.9M | $163K | 11.26% | 9.09% |
| 9 | Newtek Small Business Finance, Inc. | 12 | $14.2M | $1.2M | 7.56% | 0.00% |
| 10 | Manufacturers and Traders Trust Company | 11 | $958K | $87K | 9.68% | 0.00% |
| 11 | Northeast Bank | 11 | $3.2M | $288K | 10.68% | 0.00% |
| 12 | PNC Bank, National Association | 11 | $5.5M | $501K | 8.05% | 12.50% |
| 13 | Enterprise Bank & Trust | 10 | $8.7M | $867K | 5.97% | 0.00% |
| 14 | Newtek Bank, National Association | 10 | $5.8M | $578K | 11.47% | 0.00% |
| 15 | Byline Bank | 9 | $11.9M | $1.3M | 7.83% | 0.00% |
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Methodology
Computed from the SBA 7(a) FOIA dataset (as of 2025-12-31), filtered to NAICS code 423830. Charge-off rates are calculated on the FY2020–FY2023 cohort only.