SBA loans play a crucial role in providing financial assistance to entrepreneurs and small business owners. For those in Delaware seeking SBA loans, understanding the key players in the lending landscape is essential. Here’s a breakdown of the top SBA lenders in Delaware based on the number of loans, average loan amount, and average interest rates.
Delaware Preferred SBA Lenders
| Rank | Bank | Bank HQ | # of Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|---|
| 1 | M&T | Buffalo, NY | 34 | $308,368 | 8.0% |
| 2 | TD Bank | Wilmington, DE | 28 | $107,518 | 9.5% |
| 3 | BayFirst National Bank | Saint Petersburg, FL | 6 | $412,833 | 8.0% |
| 4 | Wilmington Savings Fund Society | Wilmington, DE | 6 | $951,850 | 8.3% |
| 5 | Celtic Bank | Salt Lake City, UT | 5 | $423,360 | 7.4% |
| 6 | Newtek Small Business Finance | Lake Success, NY | 5 | $639,200 | 6.6% |
| 7 | The Huntington National Bank | Columbus, OH | 5 | $332,460 | 8.4% |
| 8 | Grow America Fund | New York, NY | 4 | $660,000 | 6.6% |
| 9 | PNC Bank | Wilmington, DE | 4 | $239,500 | 8.7% |
| 10 | Wells Fargo | Sioux Falls, SD | 4 | $263,250 | 8.8% |
| 11 | Berkshire Bank | Pittsfield, MA | 3 | $522,600 | 6.8% |
| 12 | Fulton Bank | Lancaster, PA | 3 | $2,061,500 | 5.4% |
Top Industries for SBA loans in Delaware
| Rank | Industry | # of Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|
| 1 | Limited-Service Restaurants | 6 | $464,000 | 7.8% |
| 2 | General Freight Trucking, Long Distance, Truckload | 6 | $24,167 | 9.8% |
| 3 | General Freight Trucking, Local | 6 | $143,667 | 7.8% |
| 4 | Residential Remodelers | 4 | $52,750 | 10.1% |
| 5 | Administrative Management and General Management Consulting Services | 4 | $132,500 | 9.7% |
| 6 | Custom Computer Programming Services | 4 | $289,500 | 7.0% |
| 7 | Electrical Contractors | 3 | $100,667 | 7.6% |
| 8 | Beauty Salons | 3 | $56,333 | 8.2% |
| 9 | Water and Sewer Line and Related Structures Construction | 3 | $566,000 | 6.6% |
| 10 | General Automotive Repair | 3 | $666,667 | 7.4% |
| 11 | Full-Service Restaurants | 3 | $1,353,333 | 8.9% |
| 12 | Exterminating and Pest Control Services | 3 | $88,600 | 6.3% |
Top SBA Loan Franchises in Delaware
| Rank | FranchiseName | # of Loans | Avg Loan | Avg Interest |
|---|
Top Delaware SBA Loan Borrowers by Jobs Supported
| Rank | Business | Location | Industry | Loan Size | Interest Rate | Jobs |
|---|---|---|---|---|---|---|
| 1 | STAR BUILDING SERVICES HOLDING | Historic New Castle, DE | Janitorial Services | $2.5M – $5M | 9.0% | 99 |
| 2 | FAY PROPERTIES OMEGA LLC | Wilmington, DE | Offices of Dentists | $1M – $2.5M | 9.0% | 87 |
| 3 | BORO GELATO CO. | Wilmington, DE | Limited-Service Restaurants | $500K – $1M | 9.8% | 70 |
| 4 | HSN KIDS LLC | Newark, DE | All Other Amusement and Recreation Industries | $2.5M – $5M | 8.3% | 56 |
| 5 | SUNNYMAC LLC | Wilmington, DE | Other Building Equipment Contractors | $2.5M – $5M | 5.0% | 50 |
| 6 | TLN HOLDING INC. | Dover, DE | Funeral Homes and Funeral Services | $1M – $2.5M | 6.3% | 48 |
| 7 | 4017 LLC | Wilmington, DE | Full-Service Restaurants | $1M – $2.5M | 8.0% | 46 |
| 8 | SUPERB L.L.C. | Bear, DE | Residential Remodelers | $250K or less | 7.5% | 45 |
| 9 | 21 LOGISTICS INC. | Newark, DE | General Freight Trucking, Local | $500K – $1M | 9.0% | 45 |
| 10 | STARTING LINE SAILING INC. | Dover, DE | Boat Building | $250K – $500K | 9.0% | 40 |
| 11 | CAPRIOTTI’S | Lewes, DE | Limited-Service Restaurants | $250K – $500K | 6.0% | 30 |
| 12 | RAIL HAUS INC. | Dover, DE | Full-Service Restaurants | $1M – $2.5M | 9.0% | 27 |
| 13 | TRU GRIT LLC | Smyrna, DE | Water and Sewer Line and Related Structures Construction | $250K – $500K | 7.3% | 26 |
| 14 | RB60 INC. | Newark, DE | Child Day Care Services | $250K – $500K | 7.8% | 25 |
| 15 | PHI HAIR DESIGN LLC | Wilmington, DE | Beauty Salons | $250K or less | 6.0% | 24 |
| 16 | VIDA VETERINARY URGENT CARE L | Middletown, DE | Veterinary Services | $1M – $2.5M | 5.0% | 21 |
| 17 | YEVMA INC. | Dover, DE | Custom Computer Programming Services | $250K or less | 6.3% | 20 |
| 18 | TIG RESTAURANT GROUP LLC | Milford, DE | Limited-Service Restaurants | $500K – $1M | 8.3% | 17 |
| 19 | BLACK STAR SECURITY INC. | Newark, DE | Security Guards and Patrol Services | $250K or less | 6.5% | 16 |
| 20 | RELIANCE VIRTUAL SERVICES LLC | Millsboro, DE | Coin-Operated Laundries and Drycleaners | $250K or less | 8.0% | 16 |
| 21 | ACADEMIC MEDIC 2 LLC | Middletown, DE | All Other Miscellaneous Schools and Instruction | $250K – $500K | 6.0% | 16 |
| 22 | MSM FOODS LLC | Wilmington, DE | Limited-Service Restaurants | $250K – $500K | 5.3% | 16 |
| 23 | PEACHY KEEN SALON + BEAUTY BAR | Milford, DE | Beauty Salons | $250K or less | 8.0% | 15 |
| 24 | WILLIAMS HOUCK & COMPANY LLC | Wilmington, DE | Offices of Certified Public Accountants | $250K – $500K | 5.5% | 15 |
| 25 | MY SISTERS FAULT | Milford, DE | Limited-Service Restaurants | $500K – $1M | 8.3% | 15 |
| 26 | O’ROURKE MEDIA GROUP LLC | Seaford, DE | Commercial Gravure Printing | $1M – $2.5M | 2.5% | 15 |
| 27 | ZENITH GP LLC | Wilmington, DE | Graphic Design Services | $250K – $500K | 7.6% | 14 |
| 28 | 4 POINT TOWING & ROADSIDE SERV | Camden Wyoming, DE | Motor Vehicle Towing | $500K – $1M | 8.3% | 14 |
| 29 | BROOKSIDE LIQUORS LLC | Newark, DE | $1M – $2.5M | 6.8% | 13 | |
| 30 | FIRST STATE WAREHOUSING LLC | Wilmington, DE | General Warehousing and Storage | $250K or less | 10.0% | 12 |
| 31 | MAXIMUM ELECTRICAL SERVICES LL | Newark, DE | Electrical Contractors | $250K or less | 8.0% | 12 |
| 32 | CARVERTISE INC. | Wilmington, DE | Advertising Agencies | $1M – $2.5M | 8.3% | 12 |
| 33 | 4 POINT TOWING & ROADSIDE SERV | Delmar, DE | General Automotive Repair | $1M – $2.5M | 6.0% | 12 |
| 34 | GETSOMM LLC | Rehoboth Beach, DE | Beer, Wine, and Liquor Stores | $1M – $2.5M | 5.8% | 12 |
Note about SBA lenders near me in Delaware
When it comes to top Delaware SBA lenders, it’s a common inquiry whether any of the listed banks are 1) included in the Delaware preferred lender list, 2) approved lenders in Delaware, or 3) active participants in the Delaware SBA Express lending program. These queries center around the ability of a given SBA bank to facilitate small business SBA loans in Delaware 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 Delaware, 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.