SBA loans play a crucial role in providing financial assistance to entrepreneurs and small business owners. For those in Alaska seeking SBA loans, understanding the key players in the lending landscape is essential. Here’s a breakdown of the top SBA lenders in Alaska based on the number of loans, average loan amount, and average interest rates.
Alaska Preferred SBA Lenders
| Rank | Bank | Bank HQ | # of Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|---|
| 1 | Alaska Growth Capital BIDCO | Anchorage, AK | 21 | $870,429 | 7.1% |
| 2 | Northrim Bank | Anchorage, AK | 20 | $675,295 | 7.1% |
| 3 | KeyBank | Cleveland, OH | 7 | $303,557 | 6.9% |
| 4 | BayFirst National Bank | Saint Petersburg, FL | 6 | $322,017 | 7.8% |
| 5 | Wells Fargo | Sioux Falls, SD | 6 | $263,750 | 8.4% |
| 6 | Live Oak | Wilmington, NC | 5 | $528,000 | 6.3% |
| 7 | HomeTrust Bank | Asheville, NC | 3 | $966,833 | 7.4% |
| 8 | Newtek Small Business Finance | Lake Success, NY | 3 | $1,169,000 | 6.8% |
| 9 | SaviBank | Mount Vernon, WA | 3 | $658,300 | 8.7% |
Top Industries for SBA loans in Alaska
| Rank | Industry | # of Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|
| 1 | Limited-Service Restaurants | 5 | $477,700 | 7.4% |
| 2 | Electrical Contractors | 5 | $745,000 | 7.7% |
| 3 | Full-Service Restaurants | 4 | $771,750 | 6.9% |
| 4 | Veterinary Services | 3 | $255,333 | 5.2% |
| 5 | Scenic and Sightseeing Transportation, Water | 3 | $888,333 | 7.1% |
| 6 | Offices of Dentists | 3 | $551,667 | 6.5% |
| 7 | Mobile Food Services | 3 | $180,167 | 7.8% |
Top SBA Loan Franchises in Alaska
| Rank | FranchiseName | # of Loans | Avg Loan | Avg Interest |
|---|
Top Alaska SBA Loan Borrowers by Jobs Supported
| Rank | Business | Location | Industry | Loan Size | Interest Rate | Jobs |
|---|---|---|---|---|---|---|
| 1 | ALASKA CATAMARAN LLC | Sitka, AK | Other Support Activities for Water Transportation | $2.5M – $5M | 8.5% | 300 |
| 2 | SAMSON TUG AND BARGE COMPANY | Sitka, AK | Coastal and Great Lakes FreightWater Transportation | $500K – $1M | 4.8% | 144 |
| 3 | Q-1 SERVICES LLC | Anchorage, AK | Janitorial Services | $2.5M – $5M | 5.5% | 112 |
| 4 | CHENA RIVER RESTAURANTS INC. | Wasilla, AK | Limited-Service Restaurants | $500K – $1M | 7.3% | 60 |
| 5 | FORAYS OBW LLC | Anchorage, AK | Electrical Contractors | $1M – $2.5M | 6.8% | 54 |
| 6 | PIE IN THE SKY LLC DBA PIZZA M | Eagle River, AK | Full-Service Restaurants | $1M – $2.5M | 6.8% | 52 |
| 7 | REMOTE ALASKA SOLUTIONS INC. | Palmer, AK | Poured Concrete Foundation and Structure Contractors | $2.5M – $5M | 6.0% | 35 |
| 8 | TASTEE FREEZ ALASKA LLC | Anchorage, AK | Limited-Service Restaurants | $500K – $1M | 6.8% | 25 |
| 9 | ALASKA DRILLING AND COMPLETION | Anchorage, AK | Drilling Oil and Gas Wells | $250K – $500K | 7.5% | 24 |
| 10 | APOLLO RESTAURANT LLC | Seward, AK | Full-Service Restaurants | $500K – $1M | 6.3% | 22 |
| 11 | TIKIGAQ CONSTRUCTORS LLC | Wasilla, AK | Commercial and Institutional Building Construction | $1M – $2.5M | 8.3% | 22 |
| 12 | QUANTUM LAUNDRY LOUNGE LLC | Palmer, AK | Coin-Operated Laundries and Drycleaners | $2.5M – $5M | 9.8% | 22 |
| 13 | R.A. LEVINSOHN LLC | Anchorage, AK | Full-Service Restaurants | $500K – $1M | 5.3% | 20 |
| 14 | 49TH STATE FLORISTS LLC | Anchorage, AK | $1M – $2.5M | 6.8% | 20 | |
| 15 | WOADIE’S SOUTH EAST SEAFOOD LL | Skagway, AK | Mobile Food Services | $250K – $500K | 7.8% | 18 |
| 16 | CACHE CAMPER MANUFACTURING INC | Wasilla, AK | Travel Trailer and Camper Manufacturing | $1M – $2.5M | 7.5% | 18 |
| 17 | ARCTICSWEETS LLC | Fairbanks, AK | Snack and Nonalcoholic Beverage Bars | $250K or less | 10.8% | 17 |
| 18 | CBH LLC DBA HOUSE OF BREAD S. | Anchorage, AK | Baked Goods Stores | $250K – $500K | 9.0% | 16 |
| 19 | LEGACY FUNERAL HOMES INC | Anchorage, AK | Funeral Homes and Funeral Services | $250K or less | 4.8% | 15 |
| 20 | JOHNNY’S PRODUCE LLC | Anchorage, AK | Fresh Fruit and Vegetable Merchant Wholesalers | $250K – $500K | 6.3% | 14 |
| 21 | BRADISON MANAGEMENT GROUP LLC | Anchorage, AK | Administrative Management and General Management Consulting Services | $1M – $2.5M | 6.3% | 14 |
| 22 | ALASKAHD LLC | Anchorage, AK | Snack and Nonalcoholic Beverage Bars | $250K – $500K | 5.5% | 13 |
| 23 | MEINEKE CAR CARE | Wasilla, AK | General Automotive Repair | $500K – $1M | 9.0% | 13 |
| 24 | FRONTIER-ST. ELIAS-EVERGREEN | Fairbanks, AK | Homes for the Elderly | $500K – $1M | 9.3% | 13 |
Note about SBA lenders near me in Alaska
When it comes to top Alaska SBA lenders, it’s a common inquiry whether any of the listed banks are 1) included in the Alaska preferred lender list, 2) approved lenders in Alaska, or 3) active participants in the Alaska SBA Express lending program. These queries center around the ability of a given SBA bank to facilitate small business SBA loans in Alaska 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 Alaska, 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.