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 hassle, so we make it easier by comparing all the best SBA lenders in Los Angeles for you. Our detailed analysis will help you identify the best SBA lenders who can provide the funding you need for your business. 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 led all other cities nationwide, financing 2,008 businesses valued at over $1.1 billion in FY 2023. Los Angeles SBA loan funding also led nationally in SBA loans made to minority- and women-owned businesses. This substantial investment has helped Los Angeles maintain its status as a thriving hub for small business growth and innovation.
Challenges in Securing SBA Loans in Los Angeles
One of the biggest challenges that small businesses face is access to affordable financing. Top lenders signing SBA-backed loans in Los Angeles include some of the larger banks like JPMorgan Chase and Wells Fargo, as well as smaller players, including Celtic Bank and Zions First National Bank. Unfortunately, these banks have some of the strictest underwriting criteria, making it difficult for many small businesses to qualify for loans. This is why small businesses often benefit from working 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, American Bank stands out as the leading lender, funding over $40.5 million across 45 loans. Newtek Bank, National Association, also performed well, funding $11.55 million across 43 loans, making it a major player in terms of loan volume and units funded. First Financial Bank provided $19.87 million across 10 loans, showcasing its strong commitment to supporting small businesses in Los Angeles. Hancock Whitney Bank funded 27 loans with a total value of $9.08 million, highlighting its role as an important source of SBA financing for the region. The diverse range of lenders—from large national institutions to smaller local banks—demonstrates the wide variety of options available to small businesses in Los Angeles seeking financial support.
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 |
|---|---|---|
| American Bank | $40,503,200 | 45 |
| First Financial Bank | $19,870,000 | 10 |
| Newtek Bank, National Association | $11,550,000 | 43 |
| Gulf Coast Bank | $10,719,700 | 8 |
| Live Oak Banking Company | $10,710,000 | 8 |
| Hancock Whitney Bank | $9,080,000 | 27 |
| First Internet Bank of Indiana | $7,463,000 | 3 |
| First Bank of the Lake | $6,880,800 | 8 |
| Capital One, National Association | $6,238,400 | 4 |
| Carter FCU | $6,022,100 | 6 |
| Cadence Bank | $5,987,400 | 13 |
| Byline Bank | $5,675,000 | 5 |
| Citizens Bank | $4,761,300 | 10 |
| b1BANK | $3,993,000 | 10 |
| Home Bank, National Association | $3,844,600 | 4 |
| Mission Valley Bank | $3,443,000 | 1 |
| Lake Forest Bank & Trust Company, National Association | $3,385,000 | 1 |
| JPMorgan Chase Bank, National Association | $2,899,100 | 20 |
| Citizens Bank & Trust Company | $2,875,000 | 2 |
| BayFirst National Bank | $2,787,100 | 21 |
| Everwise Credit Union | $2,750,000 | 1 |
| Bank Five Nine | $2,533,500 | 2 |
| Old National Bank | $1,959,300 | 1 |
| Gulf Coast Bank and Trust Company | $1,738,000 | 2 |
| Bank of St. Francisville | $1,623,400 | 1 |
| First Horizon Bank | $1,422,000 | 3 |
| Colony Bank | $1,044,300 | 7 |
| Caldwell Bank & Trust Company | $1,000,000 | 1 |
| Hanmi Bank | $1,000,000 | 1 |
| Dogwood State Bank | $997,000 | 1 |
| Northeast Bank | $927,900 | 15 |
| BankFirst Financial Services | $852,700 | 1 |
| First Guaranty Bank | $846,000 | 3 |
| First-Citizens Bank & Trust Company | $757,600 | 1 |
| Bonvenu Bank NA | $627,200 | 4 |
| Cross Keys Bank | $596,800 | 11 |
| Hanover Community Bank | $593,000 | 1 |
| Celtic Bank Corporation | $440,000 | 4 |
| Fidelity Bank | $417,300 | 1 |
| Ouachita Valley FCU | $257,400 | 1 |
| Heritage Bank, Inc. | $221,900 | 2 |
| A N E C A FCU | $205,000 | 2 |
| LiftFund, Inc. | $200,000 | 1 |
| AmeriState Bank | $150,000 | 1 |
| Business Resource Capital Specialty BIDCO, Inc. | $150,000 | 1 |
| Gibsland Bank & Trust Company | $150,000 | 1 |
| Lendistry SBLC, LLC | $112,700 | 1 |
| Leader Bank, National Association | $70,200 | 1 |
| Citizens Progressive Bank | $50,000 | 2 |
| Essential Credit Union | $30,000 | 1 |
Find the Right SBA Lender in Los Angeles for Your Business
Whether you’re a new startup or an expanding business, securing the right financing is crucial for your success. The lenders listed above offer a wide range of SBA loan options tailored to meet the diverse needs of Los Angeles’s business community. Working with an experienced SBA loan broker like GoSBA Loans ensures that your application gets in front of the lenders most likely to approve your funding.
Apply for an SBA Loan Today
Apply today to connect with the best SBA lenders in Los Angeles and secure the funding your business needs to grow. The process is simple, and GoSBA Loans will help match you with the right lender based on your specific business requirements.
Apply Now to see which SBA lender is the best match for your business needs.
Why Choose GoSBA Loans?
GoSBA Loans is dedicated to simplifying the SBA loan application process for businesses in Los Angeles. By partnering with us, you gain access to a network of top lenders that have demonstrated a strong commitment to supporting small businesses. Whether you need 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 unlock immense growth opportunities for your business. With the right lender, you can access the capital needed to expand operations, hire staff, and innovate. The Los Angeles SBA lenders listed above have a proven track record of supporting the small business community, making them the best options for entrepreneurs in the region. Let GoSBA Loans assist you in finding the ideal SBA lender in Los Angeles for your business today.
