Best SBA 7(a) lenders for employment placement agencies
The top SBA 7(a) lenders for employment placement agencies (NAICS 561311) are The Huntington National Bank, United Midwest Savings Bank National Association, BayFirst National Bank, ranked by loan volume. Between FY2020 and Q1 FY2026 (2025-12-31), the SBA 7(a) program approved 897 loans totaling $365.3M to businesses in this industry. Average loan size: $407K. Average rate: 9.54%. Industry-wide charge-off rate (FY2020–FY2023 cohort): 4.84%.
Loans
897
Total $
$365.3M
Avg loan
$407K
Avg rate
9.54%
Avg term
118 mo
Industry chg-off rate
4.84%
FY20–FY23 cohort
Top 15 lenders in this industry
| # | Lender | Loans | Total $ | Avg loan | Avg rate | Chg-off % |
|---|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 69 | $19.9M | $289K | 8.49% | 4.55% |
| 2 | United Midwest Savings Bank National Association | 65 | $9.3M | $143K | 8.60% | 11.36% |
| 3 | BayFirst National Bank | 63 | $11.6M | $185K | 11.33% | 8.70% |
| 4 | Newtek Bank, National Association | 60 | $34.9M | $582K | 11.51% | 0.00% |
| 5 | JPMorgan Chase Bank, National Association | 41 | $13.3M | $325K | 9.91% | 5.56% |
| 6 | TD Bank, National Association | 40 | $3.7M | $93K | 10.43% | 0.00% |
| 7 | U.S. Bank, National Association | 34 | $7.1M | $208K | 9.41% | 0.00% |
| 8 | Wells Fargo Bank National Association | 33 | $2.4M | $73K | 11.59% | 5.56% |
| 9 | Northeast Bank | 27 | $5.0M | $185K | 11.07% | — |
| 10 | Bank of America, National Association | 26 | $14.6M | $560K | 9.03% | 0.00% |
| 11 | Manufacturers and Traders Trust Company | 23 | $7.0M | $306K | 11.26% | 20.00% |
| 12 | Readycap Lending, LLC | 23 | $6.9M | $300K | 11.43% | 0.00% |
| 13 | Newtek Small Business Finance, Inc. | 16 | $14.3M | $896K | 7.63% | 0.00% |
| 14 | Zions Bank, A Division of | 15 | $1.5M | $99K | 10.68% | 0.00% |
| 15 | CDC Small Business Finance Corp. | 13 | $2.7M | $206K | 10.58% | 0.00% |
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Methodology
Computed from the SBA 7(a) FOIA dataset (as of 2025-12-31), filtered to NAICS code 561311. Charge-off rates are calculated on the FY2020–FY2023 cohort only.