Research
Is SBA 7(a) lending concentrating?
The top 10 of 2,180 active 7(a) lenders made 27.7% of all $194.9B in 7(a) volume, and their share has climbed from 26.4% in 2020 to 35.4% in 2025. SBA 7(a) lending is concentrating.
By Mario Bailey · Source: SBA FOIA 7(a) data, as of 2026-03-31
The top 10 lenders' share of 7(a) volume, by year
The 10 largest 7(a) lenders
By total 7(a) volume in the data. Many are national, nondepository or specialist SBA lenders rather than local banks, which is what is driving the concentration.
| Lender | 7(a) volume | Share |
|---|---|---|
| Live Oak Banking Company | $13.3B | 6.9% |
| The Huntington National Bank | $10.8B | 5.5% |
| Newtek Bank, National Association | $5.3B | 2.7% |
| Readycap Lending, LLC | $4.3B | 2.2% |
| U.S. Bank, National Association | $4.2B | 2.2% |
| Celtic Bank Corporation | $3.8B | 1.9% |
| Byline Bank | $3.6B | 1.8% |
| Wells Fargo Bank National Association | $3.3B | 1.7% |
| Newtek Small Business Finance, Inc. | $2.9B | 1.5% |
| TD Bank, National Association | $2.5B | 1.3% |
Why it matters for owners
Concentration is not automatically bad: the largest specialist lenders are often the fastest and most experienced with SBA paperwork. But it means the lender you pick matters more than ever. Compare lenders by track record in the Lender Finder before you apply.
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