Best SBA 7(a) lenders for new car dealers
NAICS 441110 — New Car Dealers.
199 7(a) loans approved in this industry between FY2020 and 2025-12-31, totaling $405.5M.
Loans
199
Total $
$405.5M
Avg loan
$2.0M
Avg rate
8.04%
Avg term
162 mo
Industry chg-off rate
1.72%
FY20–FY23 cohort
Top 15 lenders in this industry
| # | Lender | Loans | Total $ | Avg loan | Avg rate | Chg-off % |
|---|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 66 | $242.6M | $3.7M | 7.30% | 0.00% |
| 2 | Newtek Bank, National Association | 30 | $24.3M | $811K | 11.22% | 0.00% |
| 3 | Northeast Bank | 13 | $3.7M | $288K | 10.54% | — |
| 4 | Cadence Bank | 5 | $1.9M | $380K | 9.55% | 25.00% |
| 5 | Webster Bank National Association | 3 | $300K | $100K | 8.06% | 0.00% |
| 6 | Bank of Mauston | 3 | $900K | $300K | 4.60% | 0.00% |
| 7 | Celtic Bank Corporation | 3 | $8.0M | $2.7M | 7.92% | 0.00% |
| 8 | First Merchants Bank | 3 | $2.9M | $950K | 6.50% | 0.00% |
| 9 | KeyBank National Association | 2 | $4.5M | $2.3M | 11.38% | — |
| 10 | Lake Michigan CU | 2 | $2.6M | $1.3M | 6.38% | 0.00% |
| 11 | First National Bank of Pennsylvania | 2 | $1.5M | $736K | 5.75% | 0.00% |
| 12 | Glacier Bank | 2 | $5.0M | $2.5M | 8.50% | — |
| 13 | Hanover Community Bank | 2 | $5.5M | $2.8M | 6.00% | 0.00% |
| 14 | Native American Bank, National Association | 2 | $2.9M | $1.5M | 5.88% | 50.00% |
| 15 | Cedar Rapids Bank and Trust Company | 2 | $3.3M | $1.6M | 5.00% | 0.00% |
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Methodology
Computed from the SBA 7(a) FOIA dataset (as of 2025-12-31), filtered to NAICS code 441110. Charge-off rates are calculated on the FY2020–FY2023 cohort only.