GoSBA’s 50 Best San Diego SBA Lenders In 2024
Introduction to San Diego SBA Loans
The U.S. Small Business Administration (SBA) San Diego District Office serves San Diego and Imperial Counties, which have a combined population base of nearly 3.2 million residents. This service area is a major U.S. tourism destination and is one of California’s key ports, creating significant demand for small businesses. The economy in San Diego is diverse, with international trade, manufacturing, military, technology, life sciences, and bioscience driving local growth and opportunities for entrepreneurship.
Finding the Best San Diego SBA Lenders
Finding the best and most affordable business loans can be a challenge, but we make it easier by comparing all the best SBA lenders in San Diego for you. Our detailed analysis will help you identify the top 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 San Diego.
Overview of San Diego SBA Loans in 2024
GoSBA Loans is proud to announce the updated rankings for the 50 Best SBA Banks providing SBA loans in San Diego in 2024. As one of the top 10 cities for small business entrepreneurs, San Diego SBA loan providers financed 657 businesses valued at $312.2 million in FY 2023. This level of investment has helped San Diego maintain its status as a key hub for small business growth and innovation, fostering a vibrant and diverse entrepreneurial community.
Challenges in Securing SBA Loans in San Diego
One of the biggest challenges that small businesses face is access to affordable financing. Top lenders issuing SBA-backed loans in San Diego include larger banks like JPMorgan Chase and Wells Fargo, as well as smaller players such as Compass Bank and Banner Bank. These banks often have strict underwriting criteria, making it challenging for many small businesses to qualify. That’s why it is often beneficial for small businesses to work with smaller and more aggressive SBA lenders in San Diego. Applicants who apply for an SBA loan with GoSBA Loans benefit from having their loan applications circulated automatically to 33 of the top 100 San Diego SBA lenders.
Top San Diego SBA Lenders by Loan Volume and Loan Units Funded
When analyzing the table of the top San Diego SBA lenders, Live Oak Banking Company stands out as the top lender by loan volume, funding over $8.3 million across 7 loans. JPMorgan Chase Bank, National Association, also performed impressively, funding 20 loans with a total value of $4.2 million, making it a leader in the number of SBA loans funded in the region. BayFirst National Bank funded 18 loans worth $2.8 million, while Readycap Lending, LLC issued 19 loans totaling $1.78 million. These figures demonstrate the range of options available for small businesses seeking SBA loans in San Diego, from large national banks to specialized lenders that focus on supporting small business growth.
GoSBA’s Official Ranking: 50 Best San Diego SBA Lenders in 2024
Below, we present GoSBA’s official ranking of the 50 Best San Diego SBA Lenders in 2024:
Bank Name |
Amount Funded |
Loans Funded |
|---|---|---|
| Banc of California | $1,139,000 | 1 |
| Bank of America, National Association | $3,176,300 | 6 |
| Bank of Hope | $1,302,500 | 4 |
| Bank of Southern California National Association | $3,443,000 | 3 |
| Banner Bank | $984,000 | 4 |
| BayFirst National Bank | $2,833,800 | 18 |
| Byline Bank | $1,300,000 | 1 |
| Cadence Bank | $570,000 | 3 |
| CalPrivate Bank | $5,162,000 | 6 |
| CDC Small Business Finance Corporation | $2,991,700 | 14 |
| Celtic Bank Corporation | $2,160,000 | 9 |
| Citizens Bank | $402,000 | 1 |
| City National Bank | $628,000 | 1 |
| Colony Bank | $552,700 | 4 |
| Diversified Members CU | $200,000 | 1 |
| Evolve Bank and Trust | $1,340,000 | 2 |
| FFB Bank | $1,712,000 | 2 |
| First Bank of the Lake | $1,132,300 | 4 |
| First Internet Bank of Indiana | $5,000,000 | 1 |
| First-Citizens Bank & Trust Company | $1,166,000 | 2 |
| FWBank | $400,000 | 1 |
| Grasshopper Bank National Association | $893,700 | 1 |
| Harvest Small Business Finance, LLC | $4,715,000 | 2 |
| Heritage Bank, Inc. | $450,000 | 3 |
| JPMorgan Chase Bank, National Association | $4,218,500 | 20 |
| Lendistry SBLC, LLC | $1,141,700 | 9 |
| Live Oak Banking Company | $8,318,000 | 7 |
| Main Street Launch | $250,000 | 1 |
| Mission Bank | $200,000 | 1 |
| Newtek Bank, National Association | $3,475,000 | 8 |
| Northeast Bank | $534,400 | 9 |
| Old National Bank | $544,100 | 1 |
| Pathward National Association | $400,000 | 1 |
| Plumas Bank | $3,958,500 | 4 |
| Readycap Lending, LLC | $1,782,600 | 19 |
| Shinhan Bank America | $232,500 | 1 |
| The Bancorp Bank National Association | $489,800 | 1 |
| The Huntington National Bank | $2,204,000 | 6 |
| U.S. Bank, National Association | $2,598,700 | 23 |
| Umpqua Bank | $20,000 | 1 |
| United Midwest Savings Bank, National Association | $255,000 | 1 |
| US Metro Bank | $1,665,000 | 1 |
| Valley Bank of Ronan | $1,800,000 | 1 |
| Wells Fargo Bank, National Association | $2,406,200 | 20 |
| Western Alliance Bank | $2,189,000 | 3 |
Find the Right SBA Lender in San Diego 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 San Diego’s dynamic economy. 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 San Diego 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 San Diego. 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 San Diego.
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 San Diego 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 San Diego for your business today.
