Best SBA lenders
Best SBA lenders in North Carolina
The most active SBA lenders in North Carolina, ranked from every 7(a) and 504 loan in the SBA's public record, FY2010-2026. Wells Fargo Bank National Association leads with 2,285 loans funded.
By Mario Bailey · Source: SBA FOIA 7(a) and 504 data, FY2010–2026, as of 2026-03-31
Top SBA lenders in North Carolina
The full North Carolina ranking, by SBA loans funded since FY2010. Every figure is in-state: each lender's loans, dollars, average loan size, and 7(a) charge-off rate cover its North Carolina lending only, not its national book. A charge-off rate appears only when a lender has at least 20 funded 7(a) loans in North Carolina; below that line, and on 504-only lending, it reads “not reported,” never 0%.
| # | Lender | Loans | Total funded | Average loan | 7(a) charge-off |
|---|---|---|---|---|---|
| 1 | Wells Fargo Bank National Association | 2,285 | $559.5M | $245K | 6.56% |
| 2 | Truist Bank | 1,561 | $569.4M | $365K | 2.43% |
| 3 | Business Expansion Funding Corporation | 1,058 | $866.2M | $819K | not reported |
| 4 | Live Oak Banking Company | 1,047 | $1.4B | $1.3M | 0.19% |
| 5 | First National Bank of Pennsylvania | 880 | $638.3M | $725K | 6.82% |
| 6 | The Huntington National Bank | 611 | $269.2M | $441K | 1.47% |
| 7 | First Community Bank | 545 | $183.6M | $337K | 0.18% |
| 8 | Pinnacle Bank | 529 | $492.1M | $930K | 2.46% |
| 9 | Celtic Bank Corporation | 502 | $186.3M | $371K | 9.16% |
| 10 | Northeast Bank | 499 | $74.2M | $149K | 1.60% |
| 11 | TD Bank, National Association | 405 | $148.6M | $367K | 4.20% |
| 12 | PNC Bank, National Association | 405 | $138.5M | $342K | 4.20% |
| 13 | VelocitySBA, LLC | 404 | $8.6M | $21K | 12.62% |
| 14 | United Community Bank | 403 | $320.9M | $796K | 1.24% |
| 15 | First Bank | 396 | $255.4M | $645K | 1.26% |
| 16 | Readycap Lending, LLC | 374 | $163.9M | $438K | 1.07% |
| 17 | BayFirst National Bank | 325 | $62.3M | $192K | 6.15% |
| 18 | Southern Bank and Trust Company | 323 | $53.2M | $165K | 1.55% |
| 19 | TowneBank | 316 | $298.5M | $945K | 0.00% |
| 20 | United Midwest Savings Bank National Association | 308 | $92.0M | $299K | 6.49% |
| 21 | Newtek Bank, National Association | 294 | $135.8M | $462K | 0.00% |
| 22 | Newtek Small Business Finance, Inc. | 261 | $173.8M | $666K | 1.92% |
| 23 | First Financial Bank | 257 | $240.2M | $935K | 0.00% |
| 24 | First-Citizens Bank & Trust Company | 254 | $166.9M | $657K | 3.15% |
| 25 | Fifth Third Bank | 248 | $115.1M | $464K | 4.44% |
SBA 7(a) and 504 loans, FY2010–2026, as of 2026-03-31, from the SBA's public record.
7(a) banks vs 504 lenders (CDCs) in North Carolina
The two SBA programs have different lenders. A 7(a) loan comes from one bank or credit union; a 504 project pairs a bank with a Certified Development Company (CDC), the nonprofit that funds the SBA-backed portion. The leaders in North Carolina by each program's loans funded since FY2010:
- 1. Wells Fargo Bank National Association 2,285 loans
- 2. Truist Bank 1,561 loans
- 3. Live Oak Banking Company 1,047 loans
- 4. First National Bank of Pennsylvania 880 loans
- 5. The Huntington National Bank 611 loans
- 1. Business Expansion Funding Corporation 1,058 loans
- 2. Carolina Business Capital, Inc. 223 loans
- 3. SBA CLSC Servicing 177 loans
- 4. 504 Capital Corporation 91 loans
Counts are each program's funded loans in North Carolina. How the two programs differ: 504 vs 7(a), by the data.
Where SBA lending concentrates in North Carolina
The 3 industries with the most SBA loans in North Carolina since FY2010, and the most active lender in each. A lender that leads your industry locally can matter more than the overall #1.
| Industry | Loans | Total funded | Most active lender |
|---|---|---|---|
| Accommodation and Food Services | 3,345 | $3.1B | Truist Bank (208 loans) |
| Retail Trade | 2,616 | $1.3B | Wells Fargo Bank National Association (378 loans) |
| Health Care and Social Assistance | 2,109 | $1.4B | Business Expansion Funding Corporation (188 loans) |
Full industry, city, and yearly breakdowns: SBA lending in North Carolina.
How this ranking works
- “Most active” means loans funded. The ranking counts every SBA 7(a) and 504 loan funded to North Carolina businesses in the SBA's public FOIA record, FY2010–2026, as of 2026-03-31. No lender pays to appear or to rank, and activity is not a fit score: the right lender for you depends on your industry, loan size, and timeline.
- The 10-loan line. A lender enters the North Carolina table only with at least 10 loans funded in-state, so one-off activity never reads as a track record. Industry cells above are held to at least 30 loans.
- Charge-off is 7(a)-only and needs 20+ loans. The SBA reports charge-offs on 7(a) loans, never on 504 loans. We show an in-state rate only when a lender has at least 20 funded 7(a) loans in North Carolina; anything thinner reads “not reported,” never 0%. It is a charge-off share of funded loans to date, not a lifetime default rate.
- Name collisions are excluded, and counted. The SBA does not normalize lender names across mergers and rebrands, so one name can blend several unrelated institutions. Flagged names are never ranked on this page; each exclusion is disclosed under the table.
The exact calculations and limits: methodology.
Best SBA lenders in North Carolina: frequently asked questions
Who is the most active SBA lender in North Carolina?
Wells Fargo Bank National Association is the most active SBA lender in North Carolina in the public record, with 2,285 7(a) and 504 loans funded since FY2010 ($559.5M in North Carolina). The ranking counts loans funded, never who pays us.
Do these lenders only serve North Carolina?
No. The ranking measures activity in North Carolina: loans funded to North Carolina businesses in the SBA's record. Many of these lenders are national or multi-state institutions; the loans, dollars, and charge-off figures shown are their North Carolina lending only.
What's the difference between a 7(a) lender and a CDC?
A 7(a) lender is a bank or credit union that funds an SBA-guaranteed loan directly. A Certified Development Company (CDC) is a nonprofit that funds the SBA-backed portion of a 504 project alongside a bank. Charge-off is reported only on 7(a) loans, so a 504-only CDC shows "not reported," never 0%.
How many SBA lenders are active in North Carolina?
130 lenders have funded at least 10 SBA loans in North Carolina since FY2010 in the public record (as of 2026-03-31). The table above names the 25 most active of them; names that blend several same-named institutions are excluded from rankings.
Mario Bailey. (2026). Best SBA lenders in North Carolina. SBA Loan Index. https://sbaloanindex.com/best-sba-lenders/in/nc/
Free to cite and quote with attribution and a link. Members of the press can reach us via our press page.
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