Best SBA 7(a) lenders for commercial and industrial machinery and equipment (except automotive a
The top SBA 7(a) lenders for commercial and industrial machinery and equipment (except automotive a (NAICS 811310) are The Huntington National Bank, U.S. Bank, National Association, Wells Fargo Bank National Association, ranked by loan volume. Between FY2020 and Q1 FY2026 (2025-12-31), the SBA 7(a) program approved 1,087 loans totaling $535.2M to businesses in this industry. Average loan size: $492K. Average rate: 8.53%. Industry-wide charge-off rate (FY2020–FY2023 cohort): 2.09%.
Top 15 lenders in this industry
| # | Lender | Loans | Total $ | Avg loan | Avg rate | Chg-off % |
|---|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 92 | $24.8M | $270K | 8.35% | 2.27% |
| 2 | U.S. Bank, National Association | 60 | $20.2M | $336K | 8.61% | 0.00% |
| 3 | Wells Fargo Bank National Association | 48 | $22.4M | $466K | 9.44% | 3.13% |
| 4 | Newtek Bank, National Association | 36 | $25.3M | $702K | 11.13% | 0.00% |
| 5 | Bank of America, National Association | 30 | $11.3M | $375K | 5.69% | 0.00% |
| 6 | TD Bank, National Association | 27 | $3.9M | $145K | 9.47% | 6.67% |
| 7 | Live Oak Banking Company | 26 | $30.0M | $1.2M | 8.14% | 0.00% |
| 8 | Northeast Bank | 26 | $4.0M | $153K | 10.58% | 0.00% |
| 9 | JPMorgan Chase Bank, National Association | 25 | $6.2M | $249K | 9.78% | 0.00% |
| 10 | Readycap Lending, LLC | 22 | $4.8M | $219K | 12.24% | 0.00% |
| 11 | Manufacturers and Traders Trust Company | 21 | $3.0M | $145K | 10.13% | 0.00% |
| 12 | KeyBank National Association | 19 | $8.9M | $466K | 9.23% | 0.00% |
| 13 | Columbia Bank | 17 | $1.1M | $67K | 10.13% | 0.00% |
| 14 | Cadence Bank | 17 | $6.3M | $373K | 9.18% | 25.00% |
| 15 | BayFirst National Bank | 15 | $2.2M | $146K | 11.82% | 0.00% |
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Methodology
Computed from the SBA 7(a) FOIA dataset (as of 2025-12-31), filtered to NAICS code 811310. Charge-off rates are calculated on the FY2020–FY2023 cohort only.