By kind of loan
SBA 504 lenders
1,753 lenders provided the first lien on at least one SBA 504 project in the 36 months ending September 30, 2026. Bank of America, National Association made the most, 670 of 18,076 net of cancelled approvals.
- Evidence
- Lender provided the first lien on at least one SBA 504 project in the 36 months ending September 30, 2026
- Data as of
- SBA, September 30, 2026
- Page last changed
- November 12, 2026
- Lenders on record
- 1,753
- SBA FOIA,
- First liens, 36 months
- 18,076
- SBA FOIA,
- Net of cancelled
- Dollars, 36 months
- $29.1B
- SBA FOIA,
Cite this
Source: The Lender Report, SBA 504 lenders, https://lender.report/sba-504-lenders/, data as of September 30, 2026.
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| Lender | Kind | Based in | First liens | Dollars |
|---|---|---|---|---|
| Bank of America, National Association | Bank | Charlotte, NC | 670 | $1.10B |
| First-Citizens Bank & Trust Company | Bank | Raleigh, NC | 639 | $1.06B |
| Harvest Commercial Capital, LLC | Non-bank | Not reported | 553 | $722M |
| JPMorgan Chase Bank, National Association | Bank | Columbus, OH | 519 | $665M |
| Wells Fargo Bank, National Association | Bank | Sioux Falls, SD | 231 | $497M |
| Bank Five Nine | Bank | Oconomowoc, WI | 206 | $584M |
| Glacier Bank | Bank | Kalispell, MT | 195 | $246M |
| Manufacturers and Traders Trust Company | Bank | Buffalo, NY | 186 | $151M |
| Celtic Bank | Bank | Salt Lake City, UT | 177 | $922M |
| Zions Bancorporation, N.A. | Bank | Salt Lake City, UT | 171 | $216M |
| America First Credit Union | Credit union | Riverdale, UT | 165 | $272M |
| CalPrivate Bank | Bank | La Jolla, CA | 165 | $221M |
| U.S. Bank National Association | Bank | Cincinnati, OH | 149 | $299M |
| Regions Bank | Bank | Birmingham, AL | 130 | $251M |
| First Bank of the Lake | Bank | Osage Beach, MO | 126 | $385M |
| KeyBank National Association | Bank | Cleveland, OH | 122 | $168M |
| Rockland Trust Company | Bank | Rockland, MA | 120 | $99.7M |
| Velocity Commercial Capital LLC | Non-bank | Westlake Village, CA | 117 | $162M |
| Citizens Business Bank, National Association | Bank | Ontario, CA | 117 | $156M |
| TD Bank, National Association | Bank | Wilmington, DE | 114 | $267M |
| Mountain America Credit Union | Credit union | Sandy, UT | 114 | $200M |
| City National Bank | Bank | Los Angeles, CA | 111 | $235M |
| EverBank, National Association | Bank | Jacksonville, FL | 110 | $282M |
| Truist Bank | Bank | Charlotte, NC | 110 | $173M |
| First Fidelity Bank | Bank | Oklahoma City, OK | 110 | $118M |
| State | Lenders | Loans | Dollars |
|---|---|---|---|
| California | 186 | 3,795 | $6.95B |
| Texas | 179 | 871 | $2.09B |
| Florida | 167 | 1,816 | $2.76B |
| Minnesota | 157 | 631 | $835M |
| Illinois | 152 | 771 | $1.16B |
| Wisconsin | 128 | 541 | $776M |
| Georgia | 119 | 536 | $1.18B |
| New York | 103 | 572 | $988M |
| Ohio | 102 | 356 | $532M |
| Massachusetts | 100 | 607 | $671M |
| Colorado | 96 | 462 | $640M |
| Arizona | 94 | 580 | $939M |
| Indiana | 94 | 329 | $506M |
| Pennsylvania | 92 | 315 | $485M |
| Michigan | 87 | 383 | $507M |
| Iowa | 84 | 167 | $186M |
| Missouri | 83 | 213 | $279M |
| Virginia | 77 | 327 | $414M |
| North Carolina | 70 | 224 | $488M |
| New Jersey | 64 | 244 | $561M |
| Washington | 61 | 309 | $512M |
| Nevada | 59 | 285 | $461M |
| Utah | 58 | 677 | $1.07B |
| Oregon | 54 | 180 | $294M |
| South Carolina | 54 | 117 | $263M |
| Connecticut | 51 | 258 | $387M |
| Alabama | 50 | 163 | $263M |
| Kansas | 50 | 91 | $129M |
| Maryland | 44 | 105 | $205M |
| Oklahoma | 43 | 79 | $108M |
| South Dakota | 43 | 225 | $243M |
| New Hampshire | 42 | 196 | $148M |
| North Dakota | 42 | 146 | $163M |
| Nebraska | 41 | 77 | $150M |
| Tennessee | 39 | 70 | $160M |
| Idaho | 37 | 247 | $265M |
| New Mexico | 33 | 77 | $119M |
| Kentucky | 29 | 63 | $85.0M |
| Maine | 28 | 140 | $154M |
| Louisiana | 27 | 55 | $135M |
| Montana | 26 | 133 | $126M |
| Wyoming | 26 | 61 | $63.3M |
| Vermont | 21 | 45 | $79.5M |
| Rhode Island | 20 | 122 | $88.3M |
| Arkansas | 19 | 55 | $65.3M |
| Mississippi | 15 | 23 | $73.0M |
| Hawaii | 14 | 60 | $81.3M |
| District of Columbia | 13 | 16 | $23.9M |
| West Virginia | 10 | 13 | $22.6M |
- Lenders recorded 18,076 SBA 504 first liens totaling $29.1B in the 36 months ending September 30, 2026, net of cancelled approvals. SBA FOIA,
- The five most active lenders made 14.5% of them. SBA FOIA,
- These lenders: 1,351 banks, 135 savings institutions, 239 credit unions and 28 non-bank lenders. SBA FOIA,
- The typical SBA 504 first lien in the United States was about $820K, with the middle half between $440K and $1.6M. SBA FOIA,
- The median term in the United States was 25 years. SBA FOIA,
- 538 of these first liens were made by lenders that have since merged or closed, or that the file lists under a name with no lender record here. They are counted in the totals here and appear in no lender's row. SBA FOIA,
- The SBA file shows 5,951 SBA 504 approvals dated in the 12 months to September 30, 2026, versus 6,462 in the prior 12 months. Both counts leave out cancelled approvals and include approvals not yet funded, so the two periods are measured the same way. SBA FOIA,
- 49 states have at least 10 SBA 504 lenders with in-state evidence on record, each with its own page. SBA FOIA,
How this list is defined
- Measure
- SBA 504 first liens in the United States
- Period
- October 2023 to September 2026
- Formula
- Count, by lender, of SBA 504 projects located in the United States with an approval date in the 36 months ending September 30, 2026, not cancelled, that name the lender as first-lien lender.
- Order
- Largest first by first liens in the 36 months, then dollars, then name. Payment is not part of the order.
- As of
- September 30, 2026
- Source
- SBA FOIA
- Changelog
- : First published, with the data built on this date.
Is your institution on this list? Show your rank. It carries the date and links back to this page.
SBA 504 figures count the first-lien lender on each SBA approval. A project marked not funded is often recent and awaiting funding.
Lenders that merged or stopped filing are left out.
SBA does not require you to use an agent or broker for a loan application. SBA has not reviewed or endorsed this site.
Source and date appear beside each figure. Banks report balances, not loans made. Loans made come only from HMDA and SBA files. We do not audit filings and can make errors joining them. Report a problem
Figures come from public records and show the source and date beside them. Public records can be late, incomplete or wrong. A past loan does not mean a lender will make the same kind of loan today. Confirm anything important with the lender.