Best SBA 7(a) lenders for drycleaning and laundry services (except coin-operated)
The top SBA 7(a) lenders for drycleaning and laundry services (except coin-operated) (NAICS 812320) are The Huntington National Bank, TD Bank, National Association, Manufacturers and Traders Trust Company, ranked by loan volume. Between FY2020 and Q1 FY2026 (2025-12-31), the SBA 7(a) program approved 862 loans totaling $412.7M to businesses in this industry. Average loan size: $479K. Average rate: 9.04%. Industry-wide charge-off rate (FY2020–FY2023 cohort): 2.30%.
Top 15 lenders in this industry
| # | Lender | Loans | Total $ | Avg loan | Avg rate | Chg-off % |
|---|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 61 | $13.3M | $218K | 8.35% | 0.00% |
| 2 | TD Bank, National Association | 43 | $7.2M | $168K | 10.89% | 5.00% |
| 3 | Manufacturers and Traders Trust Company | 38 | $3.4M | $91K | 11.15% | 0.00% |
| 4 | U.S. Bank, National Association | 37 | $12.0M | $324K | 7.80% | 0.00% |
| 5 | Bank of Hope | 35 | $6.5M | $186K | 8.57% | 5.88% |
| 6 | Newtek Bank, National Association | 28 | $15.4M | $550K | 11.50% | 0.00% |
| 7 | BayFirst National Bank | 24 | $4.1M | $169K | 11.26% | 0.00% |
| 8 | Hanmi Bank | 23 | $19.1M | $830K | 8.15% | 8.33% |
| 9 | Woori America Bank | 21 | $11.0M | $525K | 8.52% | 0.00% |
| 10 | Northeast Bank | 21 | $1.9M | $91K | 11.02% | — |
| 11 | Readycap Lending, LLC | 19 | $11.0M | $581K | 11.95% | 0.00% |
| 12 | New Millennium Bank | 18 | $5.6M | $309K | 6.89% | 8.33% |
| 13 | Celtic Bank Corporation | 18 | $7.4M | $410K | 9.26% | 0.00% |
| 14 | Live Oak Banking Company | 13 | $12.7M | $974K | 9.46% | 0.00% |
| 15 | Byline Bank | 12 | $6.4M | $535K | 8.50% | 0.00% |
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Methodology
Computed from the SBA 7(a) FOIA dataset (as of 2025-12-31), filtered to NAICS code 812320. Charge-off rates are calculated on the FY2020–FY2023 cohort only.