Best SBA 7(a) lenders for medical laboratories
The top SBA 7(a) lenders for medical laboratories (NAICS 621511) are Banco Popular de Puerto Rico, The Huntington National Bank, Oriental Bank, ranked by loan volume. Between FY2020 and Q1 FY2026 (2025-12-31), the SBA 7(a) program approved 298 loans totaling $150.2M to businesses in this industry. Average loan size: $504K. Average rate: 8.61%. Industry-wide charge-off rate (FY2020–FY2023 cohort): 2.87%.
Loans
298
Total $
$150.2M
Avg loan
$504K
Avg rate
8.61%
Avg term
132 mo
Industry chg-off rate
2.87%
FY20–FY23 cohort
Top 15 lenders in this industry
| # | Lender | Loans | Total $ | Avg loan | Avg rate | Chg-off % |
|---|---|---|---|---|---|---|
| 1 | Banco Popular de Puerto Rico | 39 | $3.8M | $96K | 10.03% | 0.00% |
| 2 | The Huntington National Bank | 28 | $5.1M | $182K | 9.39% | 0.00% |
| 3 | Oriental Bank | 14 | $1.8M | $128K | 7.18% | 0.00% |
| 4 | BayFirst National Bank | 11 | $2.2M | $201K | 10.86% | 16.67% |
| 5 | FirstBank Puerto Rico | 9 | $1.0M | $114K | 9.11% | 0.00% |
| 6 | Wells Fargo Bank National Association | 8 | $3.0M | $380K | 9.07% | 28.57% |
| 7 | Northeast Bank | 7 | $1.8M | $263K | 10.36% | — |
| 8 | United Midwest Savings Bank National Association | 7 | $1.0M | $149K | 8.71% | 0.00% |
| 9 | KeyBank National Association | 7 | $6.1M | $866K | 8.33% | 0.00% |
| 10 | Newtek Bank, National Association | 7 | $6.7M | $959K | 10.96% | — |
| 11 | Cadence Bank | 6 | $2.6M | $425K | 9.58% | 0.00% |
| 12 | Readycap Lending, LLC | 6 | $1.3M | $224K | 11.38% | 0.00% |
| 13 | PNC Bank, National Association | 5 | $6.3M | $1.3M | 5.35% | 0.00% |
| 14 | U.S. Bank, National Association | 5 | $5.9M | $1.2M | 7.81% | 0.00% |
| 15 | JPMorgan Chase Bank, National Association | 5 | $1.1M | $213K | 8.77% | 0.00% |
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Methodology
Computed from the SBA 7(a) FOIA dataset (as of 2025-12-31), filtered to NAICS code 621511. Charge-off rates are calculated on the FY2020–FY2023 cohort only.