In the dynamic landscape of small business financing, the role of lenders is pivotal in shaping the entrepreneurial journey. Alabama’s top Small Business Administration (SBA) lenders have demonstrated their commitment to fostering economic growth by providing vital financial support to businesses across the state. Let’s delve into the data to explore the top SBA lenders in Alabama, shedding light on the number of loans, average loan amounts, and average interest rates.
Alabama’s Preferred SBA Lenders
| Rank | Bank | Bank HQ | # of Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|---|
| 1 | BankFirst Financial Services | Columbus, MS | 25 | $197,456 | 6.9% |
| 2 | Readycap Lending, LLC | Berkeley Heights, NJ | 22 | $392,436 | 7.9% |
| 3 | Wells Fargo | Sioux Falls, SD | 21 | $41,533 | 10.7% |
| 4 | BancorpSouth Bank | Tupelo, MS | 18 | $335,478 | 7.2% |
| 5 | Live Oak | Wilmington, NC | 17 | $1,788,706 | 7.0% |
| 6 | Newtek Small Business Finance | Lake Success, NY | 16 | $500,744 | 8.3% |
| 7 | SouthPoint Bank | Birmingham, AL | 13 | $880,792 | 6.4% |
| 8 | United Midwest Savings Bank | De Graff, OH | 10 | $508,400 | 7.4% |
| 9 | BankPlus | Belzoni, MS | 9 | $1,460,911 | 5.3% |
| 10 | Renasant Bank | Tupelo, MS | 9 | $510,933 | 7.7% |
| 11 | Regions Bank | Birmingham, AL | 8 | $618,750 | 6.1% |
| 12 | SouthState Bank | Winter Haven, FL | 8 | $926,113 | 7.3% |
| 13 | BayFirst National Bank | Saint Petersburg, FL | 7 | $127,186 | 8.6% |
| 14 | PNC Bank | Wilmington, DE | 7 | $385,857 | 7.9% |
| 15 | Synovus Bank | Columbus, GA | 7 | $2,615,971 | 6.3% |
| 16 | 22nd State Bank | Louisville, AL | 6 | $536,467 | 6.9% |
| 17 | ServisFirst Bank | Birmingham, AL | 6 | $1,054,100 | 5.9% |
| 18 | First Financial Bank | El Dorado, AR | 5 | $461,200 | 6.3% |
| 19 | Peoples Bank of Alabama | Cullman, AL | 5 | $405,160 | 6.7% |
| 20 | United Community Bank | Blairsville, GA | 5 | $726,480 | 7.4% |
| 21 | Hancock Whitney Bank | Gulfport, MS | 4 | $542,175 | 7.9% |
| 22 | Trustmark National Bank | Jackson, MS | 4 | $364,500 | 6.4% |
| 23 | Bank Five Nine | Oconomowoc, WI | 3 | $451,133 | 5.0% |
| 24 | Celtic Bank | Salt Lake City, UT | 3 | $112,000 | 8.3% |
| 25 | Community Bank of Mississippi | Forest, MS | 3 | $686,000 | 5.3% |
| 26 | Millennial Bank | Leeds, AL | 3 | $1,002,867 | 6.3% |
| 27 | Oakworth Capital Bank | Birmingham, AL | 3 | $817,067 | 6.4% |
| 28 | Peoples Bank | Mendenhall, MS | 3 | $2,606,500 | 7.1% |
| 29 | Southern States Bank | Anniston, AL | 3 | $569,000 | 7.3% |
| 30 | The Huntington National Bank | Columbus, OH | 3 | $862,333 | 6.7% |
- BankFirst Financial Services (Columbus, MS):
- BankFirst Financial Services, headquartered in Columbus, MS, takes the lead as the top SBA lender in Alabama. Recognized for its local commitment, the bank has processed 25 SBA loans, with an average loan of $197,456 and a favorable average interest rate of 6.9%.
- Readycap Lending, LLC (Berkeley Heights, NJ):
- Hailing from Berkeley Heights, NJ, Readycap Lending, LLC secures the second position with 22 SBA loans. Known for its national reach, the lender caters to a diverse clientele, providing an average loan amount of $392,436 and an average interest rate of 7.9%.
- Wells Fargo (Sioux Falls, SD):
- A banking giant with a national footprint, Wells Fargo ranks third with 21 SBA loans. While the average loan amount is $41,533, Wells Fargo is a top-tier SBA lender, offering financial solutions to businesses of various sizes and industries, albeit with a slightly higher average interest rate of 10.7%.
- BancorpSouth Bank (Tupelo, MS):
- Based in Tupelo, MS, BancorpSouth Bank claims the fourth spot with 18 SBA loans. Known for its regional strength, the bank has a solid presence in the Southeast and provides an average loan amount of $335,478 at a competitive average interest rate of 7.2%.
- Live Oak (Wilmington, NC):
- Operating from Wilmington, NC, Live Oak secures the fifth position with 17 SBA loans. A recognized SBA preferred lender, Live Oak specializes in larger loans, boasting an impressive average loan amount of $1,788,706 and a favorable average interest rate of 7.0%.
- Newtek Small Business Finance (Lake Success, NY):
- Headquartered in Lake Success, NY, Newtek Small Business Finance holds the sixth position with 16 SBA loans. A top SBA lender nationally, Newtek is known for its expertise in diverse industries, providing an average loan amount of $500,744 and an average interest rate of 8.3%.
- SouthPoint Bank (Birmingham, AL):
- A local force in Birmingham, AL, SouthPoint Bank secures the seventh position with 13 SBA loans. Catering to the local community, SouthPoint Bank offers an average loan amount of $880,792 and a competitive average interest rate of 6.4%.
- United Midwest Savings Bank (De Graff, OH):
- Based in De Graff, OH, United Midwest Savings Bank holds the eighth spot with 10 SBA loans. Recognized for its regional focus, the bank offers an average loan amount of $508,400 and an average interest rate of 7.4%.
- BankPlus (Belzoni, MS):
- Hailing from Belzoni, MS, BankPlus claims the ninth position with 9 SBA loans. Known for its favorable terms, BankPlus is a SBA preferred lender, offering an impressive average loan amount of $1,460,911 and a competitive average interest rate of 5.3%.
- Renasant Bank (Tupelo, MS):
- Also based in Tupelo, MS, Renasant Bank closes the top 10 list with 9 SBA loans. A regional player, Renasant Bank is recognized for its commitment to the Southeast, offering an average loan amount of $510,933 and an average interest rate of 7.7%.
Top Industries for SBA loans in Alabama
| Rank | Industry | # of Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|
| 1 | Full-Service Restaurants | 19 | $917,611 | 6.5% |
| 2 | Hotels (except Casino Hotels) and Motels | 12 | $2,408,325 | 6.5% |
| 3 | Broilers and Other Meat Type | 12 | $1,067,967 | 5.8% |
| 4 | Limited-Service Restaurants | 11 | $530,882 | 7.0% |
| 5 | General Automotive Repair | 8 | $673,763 | 6.7% |
| 6 | Landscaping Services | 7 | $635,000 | 9.0% |
| 7 | Snack and Nonalcoholic Beverage Bars | 6 | $603,433 | 6.9% |
| 8 | Insurance Agencies and Brokerages | 6 | $1,262,350 | 7.2% |
| 9 | Electronic Shopping and Mail-Order Houses | 4 | $410,000 | 8.1% |
| 10 | Fitness and Recreational Sports Centers | 4 | $361,850 | 6.1% |
| 11 | General Freight Trucking, Long Distance, Truckload | 4 | $133,750 | 8.7% |
| 12 | All Other Specialty Trade Contractors | 4 | $300,475 | 6.8% |
| 13 | Offices of Lawyers | 4 | $971,000 | 8.1% |
| 14 | Electrical Contractors | 4 | $173,150 | 7.3% |
| 15 | Lessors of Miniwarehouses and Self-Storage Units | 4 | $1,527,600 | 5.3% |
| 16 | Pharmacies and Drug Stores | 3 | $1,017,133 | 6.6% |
| 17 | Pet Care (except Veterinary) Services | 3 | $335,000 | 7.1% |
| 18 | Offices of Dentists | 3 | $835,000 | 7.0% |
| 19 | New Single-Family Housing Construction (except Operative Builders) | 3 | $228,333 | 10.0% |
| 20 | Homes for the Elderly | 3 | $831,000 | 5.1% |
| 21 | Tax Preparation Services | 3 | $64,667 | 7.0% |
| 22 | General Freight Trucking, Local | 3 | $257,667 | 8.4% |
| 23 | Used Car Dealers | 3 | $263,333 | 10.1% |
| 24 | Exterminating and Pest Control Services | 3 | $797,933 | 7.3% |
| 25 | Commercial and Industrial Machinery and Equipment (except Automotive a | 3 | $375,667 | 6.0% |
| 26 | Child Day Care Services | 3 | $1,327,633 | 6.3% |
| 27 | Carpet and Upholstery Cleaning Services | 3 | $360,000 | 8.9% |
| 28 | Specialized Freight (except Used Goods) Trucking, Long-Distance | 3 | $11,667 | 11.3% |
| 29 | Used Household and Office Goods Moving | 3 | $1,789,533 | 8.3% |
Top SBA Loan Franchises in Alabama
| Rank | FranchiseName | # of Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|
| 1 | Red Roof Inn | 3 | $1,812,500 | 6.2% |
| 2 | Hotworx | 2 | $246,650 | 4.4% |
| 3 | The Flying Biscuit Cafe | 2 | $775,000 | 5.9% |
| 4 | Christian Brothers Automotive | 2 | $824,250 | 3.6% |
| 5 | Americas Best Value Inn | 2 | $1,564,000 | 5.0% |
| 6 | Motel 6 | 2 | $1,640,000 | 6.0% |
| 7 | The Grounds Guys | 2 | $150,000 | 8.3% |
| 8 | Happier at Home | 2 | $150,000 | 9.8% |
Top SBA Loan Borrowers by Jobs Supported
| Rank | Business | Location | Industry | Loan Size | Interest Rate | Jobs |
|---|---|---|---|---|---|---|
| 1 | HODIE MEATS INC. | Troy, AL | Poultry Processing | $2.5M – $5M | 6.3% | 300 |
| 2 | CHARLOTTE CHRISTIAN LAW PC. | Huntsville, AL | Offices of Lawyers | $1M – $2.5M | 8.5% | 124 |
| 3 | EVERNEST LLC | Birmingham, AL | Residential Property Managers | $1M – $2.5M | 5.0% | 114 |
| 4 | VRMMM PIZZA LLC | Calera, AL | Limited-Service Restaurants | $1M – $2.5M | 5.3% | 92 |
| 5 | GOODTIMES | Troy, AL | Bowling Centers | $2.5M – $5M | 8.0% | 90 |
| 6 | YKY SOUTHERN RESTAURANT GROUP | Opelika, AL | Full-Service Restaurants | $500K – $1M | 6.3% | 80 |
| 7 | AMERICAN-VIDEO AND ALARM INC | Alabaster, AL | $250K or less | 6.3% | 70 | |
| 8 | TLJ ALABAMA LLC | Huntsville, AL | Snack and Nonalcoholic Beverage Bars | $1M – $2.5M | 7.0% | 64 |
| 9 | LOCAL ROOTS LLC | Vestavia, AL | Limited-Service Restaurants | $250K or less | 4.8% | 60 |
| 10 | TERRAXPLORATIONS INC | Tuscaloosa, AL | Other Scientific and Technical Consulting Services | $250K – $500K | 5.3% | 60 |
| 11 | MOVE & STORE LLC | Birmingham, AL | Used Household and Office Goods Moving | $2.5M – $5M | 7.3% | 59 |
| 12 | STRAIGHT TO ALE BRANDS INC. | Huntsville, AL | Breweries | $1M – $2.5M | 4.5% | 58 |
| 13 | MKU HOOVER LLC | Hoover, AL | Elementary and Secondary Schools | $250K – $500K | 4.7% | 56 |
| 14 | JNJ HOSPITALITY LLC | Mobile, AL | Hotels (except Casino Hotels) and Motels | $1M – $2.5M | 5.0% | 48 |
| 15 | BCC WASTE SOLUTIONS LLC | Summerdale, AL | All Other Miscellaneous Waste Management Services | $2.5M – $5M | 5.0% | 45 |
| 16 | DEFTEC CORPORATION | Huntsville, AL | Engineering Services | $2.5M – $5M | 8.3% | 44 |
| 17 | TUSCALOOSA RUNNING COMPANY LL | Tuscaloosa, AL | $250K or less | 8.3% | 42 | |
| 18 | MONTGOMERY CAPITOL PROPERTIES | Montgomery, AL | Supermarkets and Other Grocery (except Convenience) Stores | $1M – $2.5M | 4.5% | 40 |
| 19 | SELECTIVE AUTOMOTIVE AND ACCES | Pelham, AL | Used Car Dealers | $500K – $1M | 10.0% | 35 |
| 20 | TDF HOLDINGS LLC | Birmingham, AL | Child Day Care Services | $2.5M – $5M | 4.8% | 34 |
| 21 | VULCAN BLUE LLC | Hoover, AL | Sports and Recreation Instruction | $1M – $2.5M | 5.8% | 33 |
| 22 | TRI-STATE COMMERCIAL TIRE LLC | Dothan, AL | General Automotive Repair | $1M – $2.5M | 4.8% | 33 |
| 23 | MALLINSON FLOORING LLC | Montgomery, AL | $500K – $1M | 8.5% | 32 | |
| 24 | LIION POWER INC. | Homewood, AL | $500K – $1M | 7.8% | 32 | |
| 25 | POCAT LLC | Albertville, AL | Full-Service Restaurants | $2.5M – $5M | 6.0% | 32 |
| 26 | T & H PROPERTY HOLDINGS LLC | Mobile, AL | Full-Service Restaurants | $1M – $2.5M | 4.8% | 30 |
| 27 | FRESH OFF THE BOAT LLC | Orange Beach, AL | Full-Service Restaurants | $1M – $2.5M | 5.0% | 30 |
| 28 | LIVE BAIT | Orange Beach, AL | Full-Service Restaurants | $2.5M – $5M | 4.3% | 30 |
| 29 | EMKAY VENTURES LLC | Daphne, AL | Snack and Nonalcoholic Beverage Bars | $500K – $1M | 6.8% | 28 |
| 30 | RENEW RX LLC | Alabaster, AL | Pharmacies and Drug Stores | $1M – $2.5M | 6.0% | 28 |
| 31 | AUTO BODY RX LLC | Mobile, AL | Automotive Body, Paint, and Interior Repair and Maintenance | $2.5M – $5M | 5.2% | 28 |
| 32 | PARIS ACE FOLEY INC | Foley, AL | $1M – $2.5M | 7.8% | 26 | |
| 33 | PALOMA LLC | Guntersville, AL | Full-Service Restaurants | $500K – $1M | 6.0% | 25 |
| 34 | RILEY HEATING & AIR | Phenix City, AL | Plumbing, Heating, and Air-Conditioning Contractors | $1M – $2.5M | 6.8% | 25 |
| 35 | M6 HOSPITALITY GROUP OPERATING | Hamilton, AL | Hotels (except Casino Hotels) and Motels | $1M – $2.5M | 7.0% | 25 |
| 36 | GUT RBC LLC | Rainbow City, AL | Limited-Service Restaurants | $500K – $1M | 8.0% | 24 |
| 37 | 22 SEAMS LLC | Huntsville, AL | All Other Amusement and Recreation Industries | $500K – $1M | 9.3% | 24 |
| 38 | OWEN’S CAFE & GRILL LLC | Geneva, AL | Full-Service Restaurants | $250K or less | 9.3% | 23 |
| 39 | EFFIES INC. | Birmingham, AL | $250K or less | 6.0% | 22 | |
| 40 | CARITAS WELLNESS LLC | Hoover, AL | Services for the Elderly and Persons with Disabilities | $250K or less | 9.8% | 22 |
| 41 | IX VII ENTERPRISES & LOGISTICS | York, AL | General Freight Trucking, Local | $250K – $500K | 6.7% | 22 |
| 42 | CLIMATE CRAFTERS | Sylacauga, AL | Commercial and Industrial Machinery and Equipment (except Automotive a | $250K – $500K | 6.9% | 22 |
| 43 | ALLTECH COMPUTER WORKS INC | Dothan, AL | Other Computer Related Services | $500K – $1M | 5.7% | 22 |
| 44 | DREW MYERS LLC | Helena, AL | Landscaping Services | $2.5M – $5M | 9.3% | 21 |
| 45 | COASTAL CUSTOM WOODWORKING LLC | Foley, AL | Custom Architectural Woodwork and Millwork Manufacturing | $250K or less | 6.8% | 20 |
| 46 | HOLK ELECTRIC INC. | Orange Beach, AL | Electrical Contractors | $250K or less | 5.6% | 20 |
| 47 | BIRMINGHAM BREADWORKS INC. | Birmingham, AL | Limited-Service Restaurants | $250K – $500K | 5.8% | 20 |
| 48 | THE NINE SEVEN CORPORATION | York, AL | General Freight Trucking, Local | $250K – $500K | 6.3% | 20 |
| 49 | TASK FITNESS LLC | Phenix City, AL | All Other Personal Services | $500K – $1M | 7.9% | 20 |
| 50 | MOBILE FLEET SPECIALISTS OF BI | Birmingham, AL | General Automotive Repair | $500K – $1M | 6.3% | 20 |
| 51 | MAGIC CITY PEST CONTROL LLC | Helena, AL | Exterminating and Pest Control Services | $500K – $1M | 7.8% | 20 |
| 52 | BRITT WOOD HOLDINGS LLC | Cullman, AL | $1M – $2.5M | 7.3% | 19 | |
| 53 | ROGERS ELECTRICAL CONTRACTING | Geraldine, AL | Electrical Contractors | $250K or less | 8.3% | 18 |
| 54 | MEDIA SOLUTIONS INC. | Pelham, AL | Periodical Publishers | $250K or less | 7.5% | 18 |
| 55 | LANGLEY LOGISTICS LLC | Boaz, AL | General Freight Trucking, Long Distance, Truckload | $250K or less | 8.0% | 18 |
| 56 | RICHARDSON SERVICES LLC | Mobile, AL | General Freight Trucking, Long Distance, Truckload | $250K or less | 7.5% | 18 |
| 57 | HARBOR II LLC | Gilbertown, AL | Limited-Service Restaurants | $250K – $500K | 4.9% | 18 |
| 58 | YKY SOUTHERN RESTAURANT GROUP | Birmingham, AL | Full-Service Restaurants | $500K – $1M | 5.5% | 18 |
| 59 | STARK FOUNDATIONS INC. | Auburn, AL | Engineering Services | $1M – $2.5M | 10.0% | 18 |
| 60 | AUBURN DOWNTOWN LIMO L.L.C | Auburn, AL | Limousine Service | $250K or less | 9.1% | 17 |
| 61 | ORGANIC BRANDS LANE PARKE LLC | Mountain Brook, AL | Snack and Nonalcoholic Beverage Bars | $250K – $500K | 6.0% | 17 |
| 62 | JAYKWON HOME COOKING LLC | Huntsville, AL | Full-Service Restaurants | $1M – $2.5M | 4.8% | 17 |
| 63 | NORTHSIDE TIRE CENTER AND GARA | Brewton, AL | General Automotive Repair | $250K or less | 6.0% | 16 |
| 64 | ONE STOP FINANCIAL SERVICES | Tuscaloosa, AL | Tax Preparation Services | $250K or less | 6.3% | 16 |
| 65 | DAVIS INDUSTRIES INC | Westover, AL | Roofing, Siding, and Insulation Material Merchant Wholesalers | $250K or less | 6.8% | 16 |
| 66 | SOUTHERN BROADCASTING LLC | Madison, AL | Radio Stations | $1M – $2.5M | 8.3% | 16 |
| 67 | MAANSI LLC | Montgomery, AL | Hotels (except Casino Hotels) and Motels | $2.5M – $5M | 8.0% | 16 |
| 68 | A PREMIER ADVANTAGE CORPORATIO | Warrior, AL | All Other Specialty Trade Contractors | $500K – $1M | 5.0% | 15 |
| 69 | PAGE PROPERTIES & CONSTRUCTION | Tuscaloosa, AL | Roofing Contractors | $1M – $2.5M | 8.0% | 15 |
| 70 | ROBINSON AUTOMOTIVE GROUP LLC | Cottondale, AL | Used Car Dealers | $250K or less | 8.3% | 14 |
| 71 | J & M CLEANING INC. | Daphne, AL | Carpet and Upholstery Cleaning Services | $250K or less | 8.5% | 14 |
| 72 | EASTERN SHORE PB LLC | Fairhope, AL | Human Resources and Executive Search Consulting Services | $250K or less | 6.3% | 14 |
| 73 | SLADE62MANAGEMENT LLC | Vestavia Hills, AL | Limited-Service Restaurants | $250K – $500K | 5.8% | 14 |
| 74 | BEYOND BLESSED CHILD CARE INC | Fultondale, AL | Child Day Care Services | $250K – $500K | 5.8% | 14 |
| 75 | BTR BUSINESS LLC | Mobile, AL | Offices of Physical, Occupational and Speech Therapists, and Audiologi | $250K – $500K | 6.0% | 14 |
| 76 | DWAYNE GRAY COMPANY INC. | Alabaster, AL | General Automotive Repair | $500K – $1M | 8.5% | 14 |
| 77 | INTERNATIONAL FACTORING ASSOCI | Hoover, AL | Convention and Trade Show Organizers | $500K – $1M | 4.8% | 14 |
| 78 | JONES DISCOUNT PHARMACY INC. | Arab, AL | $500K – $1M | 6.5% | 14 | |
| 79 | J & M CLEANING INC | Daphne, AL | Carpet and Upholstery Cleaning Services | $1M – $2.5M | 8.5% | 14 |
| 80 | CHICKEN DYNASTY LLC | Trussville, AL | Full-Service Restaurants | $1M – $2.5M | 9.0% | 14 |
| 81 | PARAGON HOTEL GROUP LLC | Montgomery, AL | Hotels (except Casino Hotels) and Motels | $1M – $2.5M | 6.0% | 14 |
| 82 | JASPER HOSPITALITY LLC | Jasper, AL | Hotels (except Casino Hotels) and Motels | $1M – $2.5M | 8.3% | 14 |
| 83 | LEM JACKSON TRUCKING LLC | Saraland, AL | General Freight Trucking, Long Distance, Truckload | $250K or less | 8.3% | 13 |
| 84 | NEW GENERATION PRESCHOOL IN MO | Montgomery, AL | Child Day Care Services | $250K – $500K | 8.3% | 13 |
| 85 | ALABAMA CHEER CENTER LLC | Bessemer, AL | All Other Personal Services | $250K – $500K | 5.6% | 13 |
| 86 | HUNTSVILLE EWC LLC | Huntsville, AL | Other Personal Care Services | $250K – $500K | 5.0% | 13 |
| 87 | NORI INC. | Birmingham, AL | Full-Service Restaurants | $500K – $1M | 5.5% | 13 |
| 88 | L&S ENTERPRISE LLC | Madison, AL | Full-Service Restaurants | $1M – $2.5M | 4.5% | 13 |
| 89 | C4 FITNESS LLC | Gulf Shores, AL | Fitness and Recreational Sports Centers | $250K or less | 4.5% | 12 |
| 90 | ALANNA ROSE PHOTOGRAPHY LLC | Birmingham, AL | Photography Studios, Portrait | $250K or less | 7.7% | 12 |
| 91 | KATIE’S PLATES LLC | Birmingham, AL | Caterers | $250K or less | 9.8% | 12 |
| 92 | TOUCH &GLOW NAILS SPA LLC | Hoover, AL | Nail Salons | $250K – $500K | 6.8% | 12 |
| 93 | SCOUT PEST CONTROL INC | Athens, AL | Exterminating and Pest Control Services | $250K – $500K | 6.0% | 12 |
| 94 | RELIANT MEDIA LLC | Hoover, AL | Media Representatives | $250K – $500K | 9.8% | 12 |
| 95 | PANNELLI VENTURES LLC | Mobile, AL | Limited-Service Restaurants | $250K – $500K | 7.8% | 12 |
| 96 | NICHOLAS&TEAGAN COMPANY LLC | Summerdale, AL | Employment Placement Agencies | $250K – $500K | 5.2% | 12 |
| 97 | MOON FROZEN TREATS INCORPORATE | Trussville, AL | Snack and Nonalcoholic Beverage Bars | $500K – $1M | 9.5% | 12 |
| 98 | ATHENS DENTAL SERVICES INC. | Athens, AL | Offices of Dentists | $500K – $1M | 5.5% | 12 |
| 99 | FARM FRESH CATTLE COMPANY LLC | Monroeville, AL | Animal (except Poultry) Slaughtering | $500K – $1M | 5.1% | 12 |
| 100 | PARRISH INC. | Arab, AL | Pharmacies and Drug Stores | $500K – $1M | 8.3% | 12 |
Note about SBA lenders near me in Alabama
When it comes to top Alabama SBA lenders, it’s a common inquiry whether any of the listed banks are 1) included in the Alabama preferred lender list, 2) approved lenders in Alabama, or 3) active participants in the Alabama SBA Express lending program. These queries center around the ability of a given SBA bank to facilitate small business SBA loans in Alabama swiftly. The answer is an unequivocal yes. These aren’t your run-of-the-mill banks making only a handful of SBA loans annually; these are institutions well-versed in the intricacies of the SBA 7(a) loan program. They stand out as the top performers in Alabama, as evidenced by our thorough analysis of thousands of SBA loans each year, leading us to rank lenders based on recent activity.
It’s crucial to note that while some banks may limit their lending to specific regions, there exist a select few highly assertive nationwide SBA lenders that operate nationally. These lenders possess a profound understanding of the SBA program and execute transactions with remarkable speed. Therefore, we advise against restricting your search solely to your home state. Our lender match tool proves invaluable in this regard. By utilizing it, we can identify suitable SBA banks tailored to your specific needs, be it geography, industry, company size, all at no cost or obligation to you. This service aims to save you valuable time and ensure a seamless SBA loan process.