Best SBA 7(a) lenders for construction, mining, and forestry machinery and equipment rental and
The top SBA 7(a) lenders for construction, mining, and forestry machinery and equipment rental and (NAICS 532412) are U.S. Bank, National Association, Wells Fargo Bank National Association, The Huntington National Bank, ranked by loan volume. Between FY2020 and Q1 FY2026 (2025-12-31), the SBA 7(a) program approved 167 loans totaling $148.7M to businesses in this industry. Average loan size: $890K. Average rate: 8.31%. Industry-wide charge-off rate (FY2020–FY2023 cohort): 0.98%.
Top 15 lenders in this industry
| # | Lender | Loans | Total $ | Avg loan | Avg rate | Chg-off % |
|---|---|---|---|---|---|---|
| 1 | U.S. Bank, National Association | 11 | $1.4M | $132K | 8.56% | 0.00% |
| 2 | Wells Fargo Bank National Association | 10 | $797K | $80K | 11.01% | 14.29% |
| 3 | The Huntington National Bank | 8 | $2.4M | $304K | 8.81% | 0.00% |
| 4 | TD Bank, National Association | 7 | $4.8M | $685K | 7.12% | 0.00% |
| 5 | Manufacturers and Traders Trust Company | 6 | $4.7M | $778K | 9.29% | 0.00% |
| 6 | Newtek Bank, National Association | 5 | $3.6M | $715K | 10.70% | — |
| 7 | Newtek Small Business Finance, Inc. | 5 | $9.7M | $1.9M | 7.10% | 0.00% |
| 8 | Live Oak Banking Company | 4 | $10.0M | $2.5M | 5.56% | 0.00% |
| 9 | Mountain America FCU | 4 | $1.5M | $369K | 7.18% | 0.00% |
| 10 | Northeast Bank | 4 | $978K | $244K | 10.69% | — |
| 11 | OakStar Bank | 3 | $670K | $223K | 10.17% | 0.00% |
| 12 | Readycap Lending, LLC | 3 | $1.2M | $393K | 10.75% | — |
| 13 | Telhio Credit Union Inc | 3 | $320K | $107K | 10.17% | — |
| 14 | Synovus Bank | 3 | $9.6M | $3.2M | 6.75% | 0.00% |
| 15 | Timberline Bank | 3 | $1.1M | $361K | 8.27% | 0.00% |
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Methodology
Computed from the SBA 7(a) FOIA dataset (as of 2025-12-31), filtered to NAICS code 532412. Charge-off rates are calculated on the FY2020–FY2023 cohort only.