Turn Your Franchise Dreams Into Reality With This List Of SBA Preferred Lenders By State

While the SBA (Small Business Administration) doesn’t fund businesses directly, it does denote certain banks as SBA Preferred Lenders. And if you’re about to buy a franchise, applying for a franchise loan through a Preferred Lender is definitely the way to go.

In this post, I’m going to provide you with an up to date, comprehensive* list of SBA Preferred Lenders by state.

But first, you need to know what a SBA Preferred Lender is, and why your goal should be to find one to work with in your area of the country.

*The banking institutions on this list have been named SBA Preferred Lenders as of this writing. Always contact them directly to see what their current status is with the U.S. Small Business Administration.

What Is An SBA Preferred Lender?

An SBA Preferred Lender is a financial institution that has earned special status with the U.S. Small Business Administration due to their expertise in processing SBA loans.

In a nutshell, these lenders are part of the Preferred Lender Program (PLP), which allows them to underwrite, approve, and close SBA small business loans (which includes franchise loans) without waiting for SBA review.

Note: The PLP was established by the SBA to streamline the lending process. It grants select financial institutions greater authority in handling SBA-guaranteed loans, allowing for more efficient processing and approval of loan applications.

That said, here are a few other benefits of working with a SBA Preferred Lender:

• Reduced waiting time for bureaucratic processes
• Quicker credit decisions and loan approvals
• In-depth knowledge of various SBA loan programs
• Assistance throughout the application and closing process
• They’re generally local institutions

With those things in mind, check out the list of SBA Preferred lenders below.

Next, choose the state you live in, and contact a couple of franchise lending banks. That way you can work towards your dreams of franchise business ownership.

The Preferred SBA Lenders List, State-By-State

Alaska

• Alaska Growth Capital BIDCO, Inc.
• Northrim Bank
• Readycap Lending, LLC
• KeyBank National Association
• Newtek Small Business Finance, Inc.

Arizona

• Arizona Business Bank
• Bank of America, N.A.
• BMO Harris Bank N.A.
• BOKF, NA dba Bank of Arizona
• JPMorgan Chase Bank, N.A.
• National Bank of Arizona
• Stearns Bank N.A.
• U.S. Bank National Association
• Wells Fargo Bank, National Association

Arkansas

• Arvest Bank
• Bank of America, N.A.
• BancorpSouth Bank
• Centennial Bank
• First Financial Bank
• First Security Bank
• Simmons Bank
• U.S. Bank National Association
• Wells Fargo Bank, National Association

California

• Bank of America, N.A.
• Bank of Hope
• Bank of the West
• Celtic Bank Corporation
• Citizens Business Bank
• Comerica Bank
• East West Bank
• JPMorgan Chase Bank, N.A.
• Pacific Premier Bank
• U.S. Bank National Association
• Wells Fargo Bank, National Association

If you’re interested in seeing the latest SBA Small Business Loan activity, check out this constantly updated page on the SBA website.

Colorado

• ANB Bank
• Bank of America, N.A.
• Bank of Colorado
• FirstBank
• KeyBank National Association
• U.S. Bank National Association
• Vectra Bank Colorado, National Association
• Wells Fargo Bank, National Association

Connecticut

• Bank of America, N.A.
• Liberty Bank
• People’s United Bank, National Association
• TD Bank, N.A.
• Webster Bank, National Association

Delaware

• Bank of America, N.A.
• M&T Bank
• PNC Bank, National Association
• TD Bank, N.A.
• WSFS Bank

Florida

• Bank of America, N.A.
• BankUnited, N.A.
• CenterState Bank, N.A.
• Fifth Third Bank
• First Horizon Bank
• JPMorgan Chase Bank, N.A.
• Regions Bank
• Synovus Bank
• TD Bank, N.A.
• Wells Fargo Bank, National Association

Georgia

• Bank of America, N.A.
• Colony Bank
• Fifth Third Bank
• First IC Bank
• Synovus Bank
• Truist Bank
• United Community Bank
• Wells Fargo Bank, National Association

Hawaii

• American Savings Bank, F.S.B.
• Bank of Hawaii
• Central Pacific Bank
• First Hawaiian Bank

Idaho

• Bank of Idaho
• D.L. Evans Bank
• First Interstate Bank
• Idaho Central Credit Union
• U.S. Bank National Association
• Washington Trust Bank
• Wells Fargo Bank, National Association
• Zions Bancorporation, N.A.

Illinois

• Bank of America, N.A.
• Busey Bank
• Fifth Third Bank
• First Midwest Bank
• JPMorgan Chase Bank, N.A.
• Byline Bank
• U.S. Bank National Association
• Wells Fargo Bank, National Association

More SBA Preferred Lenders/Franchise Lending Banks

Indiana

• Fifth Third Bank
• First Financial Bank
• First Merchants Bank
• German American Bank
• JPMorgan Chase Bank, N.A.
• Lake City Bank
• Old National Bank
• PNC Bank, National Association

Note: if you’re working with a franchise consultant, read this.

Iowa

• Bank Iowa
• Bankers Trust Company
• Cedar Rapids Bank and Trust Company
• Northwest Bank
• U.S. Bank National Association
• Wells Fargo Bank, National Association

Kansas

• Bank of America, N.A.
• Commerce Bank
• Emprise Bank
• Intrust Bank, N.A.
• U.S. Bank National Association
• Wells Fargo Bank, National Association

Kentucky

• Central Bank & Trust Co.
• Fifth Third Bank
• PNC Bank, National Association
• Republic Bank & Trust Company
• Stock Yards Bank & Trust Company
• U.S. Bank National Association

Louisiana

• Bank of America, N.A.
• Gulf Coast Bank and Trust Company
• Home Bank, National Association
• IBERIABANK
• Regions Bank
• Whitney Bank

Maine

• Androscoggin Savings Bank
• Bangor Savings Bank
• Camden National Bank
• KeyBank National Association
• Machias Savings Bank

Maryland

• Bank of America, N.A.
• M&T Bank
• PNC Bank, National Association
• Sandy Spring Bank
• TD Bank, N.A.

Massachusetts

• Bank of America, N.A.
• Berkshire Bank
• Eastern Bank
• Rockland Trust Company
• TD Bank, N.A.

Michigan

• Chemical Bank
• Comerica Bank
• Fifth Third Bank
• Huntington National Bank
• JPMorgan Chase Bank, N.A.
• Level One Bank
• PNC Bank, National Association

Minnesota

• Bremer Bank, National Association
• Huntington National Bank
• Old National Bank
• U.S. Bank National Association
• Wells Fargo Bank, National Association

Mississippi

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• BancorpSouth Bank
• Community Bank of Mississippi
• Hancock Whitney Bank
• Regions Bank
• Trustmark National Bank

Missouri

• Bank of America, N.A.
• Commerce Bank
• Enterprise Bank & Trust
• Simmons Bank
• U.S. Bank National Association

Montana

• First Interstate Bank
• First Security Bank of Missoula
• Glacier Bank
• U.S. Bank National Association

Nebraska

• First National Bank of Omaha
• Great Western Bank
• Union Bank and Trust Company
• U.S. Bank National Association

More SBA Lenders…

Nevada

• Bank of America, N.A.
• Bank of George
• City National Bank
• Nevada State Bank
• Wells Fargo Bank, National Association

New Hampshire

• Bar Harbor Bank & Trust
• Citizens Bank, N.A.
• Eastern Bank
• TD Bank, N.A.

New Jersey

• Bank of America, N.A.
• JPMorgan Chase Bank, N.A.
• M&T Bank
• PNC Bank, National Association
• TD Bank, N.A.
• Valley National Bank

New Mexico

• Bank of Albuquerque, N.A.
• Bank of America, N.A.
• U.S. Bank National Association
• Wells Fargo Bank, National Association

If you’d like more information on SBA Small Business Loans, the SBA has a detailed webpage to learn all about their loan programs.

Disclosure, although I wasn’t a paid contributor, I wrote around 100 different educational articles on franchising for the U.S. Small Administration’s website. You can see them here.

Now, back to this list of SBA Preferred Lenders, by state.

There Are Some Repeats On This List of SBA Preferred Lenders

As you may have noticed, some of the same SBA lenders appear in almost all the states. That means they have a presence there. And maybe some local branches!

Let’s continue with Preferred SBA Lenders list.

New York

• Bank of America, N.A.
• JPMorgan Chase Bank, N.A.
• KeyBank National Association
• M&T Bank
• NBT Bank, National Association
• TD Bank, N.A.

North Carolina

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• Bank of America, N.A.
• First Bank
• First Citizens Bank & Trust Company
• First National Bank
• PNC Bank, National Association
• Truist Bank
• Wells Fargo Bank, National Association

North Dakota

• Alerus Financial, N.A.
• Bank of North Dakota
• Bell Bank
• First International Bank & Trust
• U.S. Bank National Association

Ohio

• Huntington National Bank
• KeyBank
• PNC Bank
• U.S. Bank
• Wells Fargo

Oklahoma

• American Bank and Trust
• Arvest Bank
• BancFirst
• Chickasaw Community Bank
• First National Bank & Trust

Oregon

• Columbia State Bank
• KeyBank
• Pacific West Bank
• U.S. Bank
• Wells Fargo

Here’s an interesting and popular way to finance a franchise/small business.

Pennsylvania

• Citizens Bank
• FNB Bank
• PNC Bank
• S&T Bank
• Wells Fargo

Rhode Island

• Bank Rhode Island
• Citizens Bank
• Washington Trust
• Wells Fargo

South Carolina

• South State Bank
• TD Bank
• United Community Bank
• Wells Fargo

South Dakota

• First Bank & Trust
• Great Western Bank
• Midland States Bank
• Wells Fargo

Tennessee

• First Tennessee Bank
• Regions Bank
• SunTrust Bank
• Wells Fargo

Texas

• BBVA USA
• Capital One
• Frost Bank
• Texas Capital Bank
• Wells Fargo

Utah

• Zions Bank
• Mountain America Credit Union
• KeyBank
• Wells Fargo

Vermont

• Community Bank, N.A.
• KeyBank
• Northfield Savings Bank
• TD Bank

Virginia

• Atlantic Union Bank
• Berkshire Bank
• SunTrust Bank
• Wells Fargo

Washington

• Banner Bank
• Columbia State Bank
• First Citizens Bank
• Wells Fargo

West Virginia

• BB&T (now Truist)
• First United Bank & Trust
• United Bank
• Wells Fargo

Wisconsin

• BMO Harris Bank
• Associated Bank
• North Shore Bank
• Wells Fargo

SBA Lenders: A Quick Summary

There you have it.

If you’re getting serious about becoming the owner of a franchise business-or any small business, I encourage you to contact a local SBA Preferred Lender.

Get the ball rolling, so you can get in business for yourself and start making money!

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