Best SBA 7(a) lenders for cosmetology and barber schools
The top SBA 7(a) lenders for cosmetology and barber schools (NAICS 611511) are The Huntington National Bank, Readycap Lending, LLC, Webster Bank National Association, ranked by loan volume. Between FY2020 and Q1 FY2026 (2025-12-31), the SBA 7(a) program approved 166 loans totaling $98.6M to businesses in this industry. Average loan size: $594K. Average rate: 8.72%. Industry-wide charge-off rate (FY2020–FY2023 cohort): 3.19%.
Loans
166
Total $
$98.6M
Avg loan
$594K
Avg rate
8.72%
Avg term
153 mo
Industry chg-off rate
3.19%
FY20–FY23 cohort
Top 15 lenders in this industry
| # | Lender | Loans | Total $ | Avg loan | Avg rate | Chg-off % |
|---|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 18 | $2.1M | $115K | 9.89% | 0.00% |
| 2 | Readycap Lending, LLC | 11 | $7.2M | $654K | 10.73% | 0.00% |
| 3 | Webster Bank National Association | 6 | $894K | $149K | 6.54% | 0.00% |
| 4 | Newtek Bank, National Association | 5 | $2.2M | $445K | 11.00% | — |
| 5 | CDC Small Business Finance Corp. | 5 | $593K | $119K | 9.55% | 0.00% |
| 6 | JPMorgan Chase Bank, National Association | 4 | $395K | $99K | 11.70% | 66.67% |
| 7 | Manufacturers and Traders Trust Company | 3 | $240K | $80K | 12.67% | — |
| 8 | Live Oak Banking Company | 3 | $3.4M | $1.1M | 9.83% | — |
| 9 | Enterprise Bank & Trust | 3 | $6.0M | $2.0M | 6.58% | 0.00% |
| 10 | CalPrivate Bank | 3 | $4.1M | $1.4M | 8.33% | 0.00% |
| 11 | Cadence Bank | 3 | $1.0M | $342K | 5.33% | 0.00% |
| 12 | Byline Bank | 3 | $2.8M | $938K | 11.17% | 0.00% |
| 13 | Newtek Small Business Finance, Inc. | 3 | $8.8M | $2.9M | 7.08% | 0.00% |
| 14 | TD Bank, National Association | 3 | $275K | $92K | 10.20% | 0.00% |
| 15 | Bank of America, National Association | 3 | $2.0M | $655K | 6.84% | 0.00% |
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Methodology
Computed from the SBA 7(a) FOIA dataset (as of 2025-12-31), filtered to NAICS code 611511. Charge-off rates are calculated on the FY2020–FY2023 cohort only.