Small businesses across the United States find SBA 7(a) loans a flexible and affordable source of capital. Backed by a partial guarantee from the U.S. Small Business Administration (SBA), 7(a) loans can be used for a wide range of purposes including working capital, equipment purchases, real estate, partner buyouts, and refinancing.
Each year, hundreds of banks, credit unions, and specialized lenders participate in the program. The final results for 2025:
- 78,100 loans approved
- $37.3 billion approved
- $478,000 average loan amount
- 1,400 lenders approved a loan
- 56 loans approved per lender
However, lending activity is concentrated among a relatively small group of institutions that have built dedicated SBA origination teams, streamlined underwriting processes, and national referral networks. These lenders have developed deep expertise in navigating SBA requirements while helping entrepreneurs access capital quickly and efficiently.
Most lenders have strong digital footprints but for our audience, we wanted to highlight the popular digital-first and fintech-enabled lenders that allow small business owners to apply online and complete much of the process entirely remote. More than 1,400 lenders originated an SBA 7(a) loan last year, but we only looked at the top 200 based on dollars originated (lowest was $26 million). And we used AI to identify which of the 200 were primarily digital lenders and then we verified that every one listed took application directly from small business owners.
For entrepreneurs evaluating financing options, these lenders represent some of the most active and experienced providers in the SBA ecosystem. Reviewing which institutions originate the most loans can provide a helpful starting point when deciding where to apply for a government-backed small business loan.
So who are the top digital SBA lenders? Let’s start with our definition:
- Originate SBA 7A loans (we are not including 504 loans in our list)
- Primarily digitally delivered (rules out Wells Fargo, BofA, and the majority of traditional banks)
- Must offer online applications directly from their own website
Resources: Looking for digital banks, lenders, payment providers, insurance or digital accounting for small businesses? Check out our latest lists: SMB Bank Offers/Deals (40) | Cloud-Based Payroll Providers (20) | Small Business (SMB) Savings/Treasury Accounts (7) | SMB Online Lenders (33) | SMB Challenger Banks (15) | SMB Insurers (15) | SMB Credit Cards/Expense Management (16) | Card Offers/Deals (23) | Billpay & Invoicing (16)| Payment Processors (7) | SMB Digital Accounting/Bookkeeping (21)
Leading Digital Small Business Banking Providers (United States)
Table 1: Ranked by Number of Loan Approved
| Rank | Lender | HQ | Number Loans | Total ($M) |
Avg Loan Size | Web Visits (Feb ’26) |
| 1 | Newity Market (Northeast Bank) | ME | 7,800 | $1,310 | $170k | 70,000 |
| 2 | Newtek Bank | FL | 4,828 | $2,030 | $420k | 110,000 |
| 3 | ReadyCap Lending | NJ | 3,137 | $1,170 | $370k | 14,000 |
| 4 | Live Oak Bank | NC | 2,280 | $2,853 | $1.2M | 350,000 |
| 5 | Lendistry | CA | 1,849 | $385 | $210k | 47,000 |
| 6 | Celtic Bank | UT | 1482 | $593 | $400k | 32,000 |
| 7 | First Internet Bank of Indiana | IN | 487 | $712 | $1.5M | 110,000 |
| 8 | Harvest Small Business Finance | CA | 472 | $446 | $950k | 5,400 |
| 9 | SmartBiz Bank | IL | 334 | $71 | $210k | 26,000 |
| 10 | Port 51 Lending | NY | 226 | $354 | $1.6M | 1,200 |
| 11 | Grasshopper Bank | NY | 201 | $101 | $500k | 99,000 |
| 12 | VelocitySBA | TX | 193 | $182 | $940k | 1,600 |
| 13 | Centerstone SBA Lending | CA | 116 | $161 | $1.4M | INA |
Table 2: Ranked by $ amount of loans approved
| Rank | Lender | HQ | Number Loans | Total ($M) | Avg Loan Size | Web Visits (Feb ’26) |
| 1 | Live Oak Bank | NC | 2,280 | $2,853 | $1.2M | 350,000 |
| 2 | Newtek Bank | FL | 4,828 | $2,030 | $420k | 110,000 |
| 3 | Newity Market (Northeast Bank) | ME | 7,800 | $1,310 | $170k | 70,000 |
| 4 | ReadyCap Lending | NJ | 3,137 | $1,170 | $370k | 14,000 |
| 6 | First Internet Bank of Indiana | IN | 487 | $712 | $1.5M | 110,000 |
| 6 | Celtic Bank | UT | 1482 | $593 | $400k | 32,000 |
| 7 | Harvest Small Business Finance | CA | 472 | $446 | $950k | 5,400 |
| 8 | Lendistry | CA | 1,849 | $385 | $210k | 47,000 |
| 9 | Port 51 Lending | NY | 226 | $354 | $1.6M | 1,200 |
| 10 | VelocitySBA | TX | 193 | $182 | $940k | 1,600 |
| 11 | Centerstone SBA Lending | CA | 116 | $161 | $1.4M | INA |
| 12 | Grasshopper Bank | NY | 201 | $101 | $500k | 99,000 |
| 13 | SmartBiz Bank | IL | 334 | $71 | $210k | 26,000 |
Source: Fintechlabs, 6 Mar 2026; compiled from data from SBA.gov, Similarweb,
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