GoSBA’s 50 Best Los Angeles SBA Lenders In 2024
Introduction to Los Angeles SBA Loans
The U.S. Small Business Administration (SBA) Los Angeles District Office (LADO) serves Los Angeles, Santa Barbara, and Ventura Counties, which have a combined population base of nearly 11.5 million residents. If this area were a state, it would rank as the eighth most populous state in the Union. This tri-county service area is the nation’s top international trade and manufacturing center. There is a diverse economic base with trade, tourism, entertainment, technology, and financial services leading the way. The Ports of Long Beach and Los Angeles are the busiest in the country, and L.A. remains a powerful force in manufacturing output.
Finding the Best Los Angeles SBA Lenders
Finding the best and most affordable business loans has always been a challenge, so we make it easier by comparing all the top SBA lenders in Los Angeles for you. After reading our analysis, click “Apply Now” to get matched with the best SBA loan providers in Los Angeles.
Overview of Los Angeles SBA Loans in 2024
GoSBA Loans is proud to announce the updated rankings for the 50 Best SBA Banks providing SBA loans in Los Angeles in 2024. Los Angeles SBA loan providers continue to lead all other cities nationwide, financing 2,210 businesses valued at over $1.2 billion in FY 2023. Los Angeles also remains a leader in SBA loans made to minority and women-owned businesses.
Challenges in Securing SBA Loans
One of the biggest challenges that small businesses face is access to affordable financing. Top lenders issuing SBA-backed loans in Los Angeles include larger banks like JPMorgan Chase and Wells Fargo, as well as smaller players such as Celtic Bank and Zions First National Bank. These banks have some of the strictest underwriting criteria, making it challenging for small businesses to qualify. That’s why it’s often beneficial for small businesses to work with smaller and more aggressive SBA lenders in Los Angeles. Applicants who apply for an SBA loan with GoSBA Loans benefit from having their loan applications circulated automatically to 33 of the top 100 Los Angeles SBA lenders.
Top Los Angeles SBA Lenders by Loan Volume and Loan Units Funded
When analyzing the table of the top Los Angeles SBA lenders, Readycap Lending, LLC stands out as the top lender by loan volume, funding over $19.5 million across 42 loans. BayFirst National Bank also performed impressively, funding 41 loans with a total value of over $8.5 million. Other notable lenders include JPMorgan Chase Bank, which funded 40 loans with a value of $7.76 million, and Lendistry SBLC, LLC, which funded 32 loans worth $7.56 million. These figures highlight the diverse range of lenders available to support small businesses in Los Angeles, from larger national banks to smaller, specialized financial institutions.
GoSBA’s Official Ranking: 50 Best Los Angeles SBA Lenders in 2024
Below, we present GoSBA’s official ranking of the 50 Best Los Angeles SBA Lenders in 2024:
| Bank Name | Amount Funded | Loans Funded |
|---|---|---|
| Readycap Lending, LLC | $19,548,000 | 42 |
| City National Bank | $15,791,500 | 7 |
| Harvest Small Business Finance, LLC | $13,635,900 | 7 |
| BayFirst National Bank | $8,576,200 | 41 |
| Bank of Hope | $7,826,000 | 27 |
| JPMorgan Chase Bank, National Association | $7,760,000 | 40 |
| Southwestern National Bank | $7,560,000 | 3 |
| Lendistry SBLC, LLC | $7,559,300 | 32 |
| Woori America Bank | $7,325,000 | 3 |
| Commonwealth Business Bank | $6,963,000 | 4 |
| Newtek Bank, National Association | $6,935,000 | 25 |
| Open Bank | $6,404,500 | 7 |
| VelocitySBA, LLC | $6,084,000 | 3 |
| Hanmi Bank | $5,686,500 | 5 |
| FFB Bank | $5,478,000 | 3 |
| Exos Small Business Lending LLC | $4,400,000 | 1 |
| Umpqua Bank | $4,193,300 | 1 |
| EverTrust Bank | $4,030,000 | 2 |
| Bank of America, National Association | $3,838,000 | 11 |
| Live Oak Banking Company | $3,809,000 | 5 |
| GBank | $3,640,000 | 1 |
| Cadence Bank | $3,080,000 | 11 |
| Royal Business Bank | $2,960,000 | 4 |
| American Continental Bank | $2,774,000 | 4 |
| Enterprise Bank & Trust | $2,295,900 | 2 |
| Mega Bank | $2,290,000 | 2 |
| PCB Bank | $2,209,000 | 3 |
| Commercial Bank of California | $1,955,000 | 1 |
| CDC Small Business Finance Corporation | $1,781,800 | 12 |
| Dogwood State Bank | $1,767,300 | 1 |
| Wells Fargo Bank, National Association | $1,693,900 | 24 |
| U.S. Bank, National Association | $1,656,400 | 17 |
| Mortgage Capital Development Corporation | $1,582,000 | 7 |
| CTBC Bank Corp. (USA) | $1,360,000 | 1 |
| East West Bank | $1,280,000 | 11 |
| The Huntington National Bank | $1,263,000 | 6 |
| Celtic Bank Corporation | $1,038,700 | 9 |
| Bank of Southern California National Association | $998,000 | 1 |
| Northeast Bank | $979,200 | 13 |
| Fund-Ex Solutions Group, LLC | $966,000 | 1 |
| Wallis Bank | $925,000 | 2 |
| First Foundation Bank | $817,300 | 1 |
| AMPAC Tri-State CDC, Inc. | $774,200 | 3 |
| InBank | $759,100 | 1 |
| Colony Bank | $700,000 | 5 |
Find the Right SBA Lender in Los Angeles for Your Business
Whether you’re a new startup or a growing business, securing the right financing is essential. The lenders listed above offer various options to help small businesses succeed in the diverse economy of Los Angeles. Working with an experienced SBA loan broker like GoSBA Loans ensures that your loan application gets in front of the lenders most likely to fund your business.
Apply for an SBA Loan Today
Apply today to get connected with the best SBA lenders in Los Angeles and secure the funding you need to take your business to the next level. The process is simple, and GoSBA Loans will help match you with the right lender based on your unique business needs.
Apply Now to see which SBA lender is the best match for your business needs.
Why Choose GoSBA Loans?
GoSBA Loans is committed to simplifying the SBA loan application process for businesses in Los Angeles. By working with us, you get access to a network of lenders that have a proven track record of supporting small businesses. Whether you’re looking for competitive interest rates, a streamlined approval process, or flexible loan terms, GoSBA Loans is here to help you find the best SBA lender in Los Angeles.
Conclusion
Securing an SBA loan can be the key to unlocking growth opportunities for your business. With the right lender by your side, you can access the capital you need to expand, hire, and innovate. The Los Angeles SBA lenders listed above have demonstrated their commitment to supporting the small business community, making them excellent options for entrepreneurs in the region. Let GoSBA Loans assist you in finding the best SBA lender in Los Angeles for your business today.
