Best SBA 7(a) lenders for barber shops
The top SBA 7(a) lenders for barber shops (NAICS 812111) are The Huntington National Bank, U.S. Bank, National Association, TD Bank, National Association, ranked by loan volume. Between FY2020 and Q1 FY2026 (2025-12-31), the SBA 7(a) program approved 877 loans totaling $152.1M to businesses in this industry. Average loan size: $173K. Average rate: 9.58%. Industry-wide charge-off rate (FY2020–FY2023 cohort): 3.07%.
Loans
877
Total $
$152.1M
Avg loan
$173K
Avg rate
9.58%
Avg term
119 mo
Industry chg-off rate
3.07%
FY20–FY23 cohort
Top 15 lenders in this industry
| # | Lender | Loans | Total $ | Avg loan | Avg rate | Chg-off % |
|---|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 125 | $19.3M | $155K | 8.97% | 1.61% |
| 2 | U.S. Bank, National Association | 93 | $4.6M | $50K | 9.38% | 10.26% |
| 3 | TD Bank, National Association | 73 | $2.1M | $29K | 11.66% | 0.00% |
| 4 | Wells Fargo Bank National Association | 43 | $4.9M | $115K | 10.14% | 9.68% |
| 5 | Northeast Bank | 40 | $3.0M | $74K | 11.24% | 0.00% |
| 6 | KeyBank National Association | 33 | $6.3M | $190K | 8.78% | 0.00% |
| 7 | Manufacturers and Traders Trust Company | 33 | $1.9M | $58K | 10.84% | 11.11% |
| 8 | Readycap Lending, LLC | 25 | $2.5M | $98K | 14.00% | 0.00% |
| 9 | Live Oak Banking Company | 18 | $20.0M | $1.1M | 7.35% | 0.00% |
| 10 | Newtek Bank, National Association | 16 | $1.4M | $86K | 12.66% | 0.00% |
| 11 | BayFirst National Bank | 15 | $2.0M | $135K | 11.78% | 0.00% |
| 12 | Newtek Small Business Finance, Inc. | 13 | $2.0M | $151K | 8.37% | 0.00% |
| 13 | Cadence Bank | 12 | $3.5M | $288K | 8.48% | 10.00% |
| 14 | Eastern Bank | 12 | $1.1M | $88K | 8.58% | 0.00% |
| 15 | Celtic Bank Corporation | 12 | $737K | $61K | 10.75% | 0.00% |
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Methodology
Computed from the SBA 7(a) FOIA dataset (as of 2025-12-31), filtered to NAICS code 812111. Charge-off rates are calculated on the FY2020–FY2023 cohort only.