Investopedia’s choice for best overall Small Business Administration (SBA) loan lender is Live Oak Bank because of its deep expertise in originating SBA loans and its strong performance across every area we measured, from loan cost to customer experience. If you’re looking for the lender with the lowest average APR, consider Bank of America. If you’re a startup, try Huntington National Bank.
We collected 385 data points from 11 of the most active SBA lenders to create our list below. We also evaluated data from tens of thousands of loans issued in 2024 to find average APRs, average loan terms and amounts, and average time to fund for each lender, all based on real-world loan transactions.
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