GoSBA’s Top 50 Arizona SBA Lenders in 2024
Overview of SBA Loans in Arizona
Arizona, with a population of approximately 7.4 million people, is a rapidly growing state with a diverse economy. The state is known for its strong presence in industries such as technology, tourism, aerospace, healthcare, and manufacturing. With major cities like Phoenix and Tucson, Arizona provides an excellent environment for both large enterprises and small businesses to thrive.
Popular industries in Arizona include healthcare, technology, tourism, construction, and finance. In FY 2023, Arizona SBA loan providers funded 2,600 businesses, with a total loan volume of $1.8 billion. Arizona also has a thriving entrepreneurial community, with a growing number of women-owned businesses making significant contributions to the state’s economic landscape.
Finding the Best Arizona SBA Loans
Finding the best and most affordable business loans can be challenging, but we make it easier by comparing all the top SBA lenders in Arizona for you. GoSBA Loans helps businesses secure the financing they need to grow—whether for purchasing equipment, refinancing high-interest loans, acquiring commercial property, or financing business improvements. After reading our analysis, click “Apply Now” to let us match you with the best SBA loan providers in Arizona.
Challenges in Accessing SBA Loans in Arizona
A significant challenge for small businesses in Arizona is gaining access to affordable financing. The top SBA lenders in the state include major financial institutions like Wells Fargo, U.S. Bank, JPMorgan Chase, Bank of America, Western Alliance Bank, Celtic Bank, Zions Bank, MidFirst Bank, Horizon Community Bank, and PNC Bank. These ten lenders funded 1,200 businesses in Arizona, with a combined loan volume of $1.3 billion. However, just because these lenders are popular does not mean they are the best fit for every business type. Many small businesses may find better success with specialized SBA lenders.
How GoSBA Loans Helps Arizona Small Businesses
At GoSBA Loans, we understand the struggle of finding the best and most affordable SBA loans for your business. Our unique approach circulates your loan application to 30 of the top 100 SBA lenders in Arizona, increasing your chances of approval. We make lending for small businesses easier, faster, and more affordable. Below is our official ranking of the top 50 Arizona SBA lenders in 2024.
Top 50 Arizona SBA Lenders in 2024
| Bank Name | Sum of Term in Months | Amount Funded | Loans Funded | Average Initial Interest Rate |
|---|---|---|---|---|
| Newtek Bank, National Association | $7,342 | $32,393,000 | 61 | 11.79% |
| Live Oak Banking Company | $3,473 | $28,002,000 | 21 | 10.09% |
| America First FCU | $3,798 | $24,909,200 | 15 | 7.98% |
| Wells Fargo Bank, National Association | $11,966 | $20,602,600 | 77 | 12.48% |
| MidFirst Bank | $2,571 | $19,219,500 | 10 | 8.31% |
| Midwest Regional Bank | $2,481 | $18,853,000 | 16 | 11.25% |
| Celtic Bank Corporation | $4,260 | $17,128,900 | 25 | 11.24% |
| JPMorgan Chase Bank, National Association | $7,533 | $14,787,800 | 56 | 11.71% |
| The Huntington National Bank | $4,957 | $14,713,500 | 39 | 10.60% |
| U.S. Bank, National Association | $7,518 | $14,416,200 | 66 | 9.60% |
| St. Louis Bank | $1,680 | $11,130,000 | 11 | 11.07% |
| Zions Bank, A Division of | $5,235 | $10,358,100 | 40 | 11.91% |
| United Midwest Savings Bank, National Association | $3,241 | $9,594,000 | 21 | 11.15% |
| Evolve Bank and Trust | $1,260 | $9,558,000 | 10 | 11.23% |
| Readycap Lending, LLC | $5,604 | $9,421,900 | 44 | 13.43% |
| Bank of America, National Association | $3,432 | $9,404,200 | 20 | 8.42% |
| Mountain America FCU | $3,060 | $9,011,900 | 18 | 11.66% |
| First Bank of the Lake | $1,699 | $8,696,000 | 14 | 11.80% |
| Western Alliance Bank | $1,257 | $8,597,600 | 6 | 9.00% |
| The Bancorp Bank National Association | $1,260 | $8,039,500 | 9 | 9.44% |
| Integro Bank | $1,020 | $7,534,800 | 7 | 11.11% |
| T Bank, National Association | $360 | $7,131,200 | 3 | 10.83% |
| BayFirst National Bank | $6,360 | $7,066,200 | 53 | 13.14% |
| UMB Bank, National Association | $1,536 | $6,921,300 | 13 | 8.90% |
| First Internet Bank of Indiana | $480 | $6,805,000 | 4 | 11.25% |
| City National Bank | $1,800 | $6,228,500 | 6 | 6.85% |
| Bank of Hope | $1,020 | $6,160,000 | 4 | 9.75% |
| Bell Bank | $1,572 | $5,175,900 | 10 | 9.68% |
| HTLF Bank | $120 | $5,000,000 | 1 | 9.50% |
| Seacoast National Bank | $600 | $4,857,000 | 2 | 9.63% |
| Capital One, National Association | $600 | $4,760,000 | 2 | 5.97% |
| Fund-Ex Solutions Group, LLC | $360 | $4,472,000 | 3 | 11.17% |
| First Utah Bank | $300 | $4,450,000 | 1 | 9.75% |
| Cadence Bank | $1,566 | $4,120,000 | 13 | 11.19% |
| Arizona Capital Source | $1,980 | $4,097,100 | 15 | 11.85% |
| Enterprise Bank & Trust | $972 | $3,919,200 | 5 | 9.60% |
| Leader Bank, National Association | $426 | $3,845,000 | 2 | 10.88% |
| Northeast Bank | $3,480 | $3,613,000 | 29 | 11.25% |
| BNC National Bank | $1,320 | $3,580,000 | 8 | 10.00% |
| Harvest Small Business Finance, LLC | $1,800 | $3,510,000 | 6 | 11.13% |
| VelocitySBA, LLC | $840 | $3,401,700 | 4 | 11.13% |
| Mission Bank | $120 | $3,348,700 | 1 | 10.75% |
| American Momentum Bank | $600 | $3,330,600 | 5 | 11.25% |
| CDC Small Business Finance Corporation | $1,852 | $3,004,400 | 15 | 13.13% |
| CIBC Bank USA | $192 | $2,971,000 | 2 | 10.75% |
| Lendistry SBLC, LLC | $1,560 | $2,970,100 | 13 | 12.65% |
| North State Bank | $552 | $2,935,300 | 3 | 10.92% |
| Alerus Financial, National Association | $1,080 | $2,928,800 | 6 | 10.38% |
| US Metro Bank | $300 | $2,710,000 | 1 | 10.00% |
| Meadows Bank | $663 | $2,670,700 | 3 | 11.00% |
Leading Arizona SBA Lenders by Loan Volume
Analyzing the table above, Wells Fargo Bank leads the way in Arizona with the highest loan volume, funding over $20.6 million across 77 loans. This positions Wells Fargo as a strong choice for businesses looking for substantial financing in Arizona.
Top SBA Lenders by Number of Loans Funded
When it comes to the number of loans funded, Wells Fargo Bank also takes the lead with 77 loans totaling over $20.6 million. This makes Wells Fargo highly active in the SBA lending market and a reliable choice for small business owners seeking an experienced lender.
Other Notable SBA Lenders in Arizona
U.S. Bank and JPMorgan Chase Bank are also significant players in the Arizona SBA lending market. U.S. Bank funded 66 loans totaling $14.4 million, while JPMorgan Chase Bank funded 56 loans with a loan volume of $14.8 million. These banks are ideal for small business owners seeking moderate-sized loans from established lenders.
For businesses looking for smaller loans, institutions like Western Alliance Bank, MidFirst Bank, and Horizon Community Bank provide various options. Their focus on smaller loan amounts makes them suitable for startups and small businesses needing accessible financing.
Why Choose GoSBA Loans for SBA Loans in Arizona?
Partnering with GoSBA Loans provides applicants with access to a wide array of SBA lenders in Arizona. We help match you with the lender that suits your business needs, taking into account loan amounts, approval criteria, and loan terms. By working with us, you’ll gain access to a network of lenders, ensuring that your application reaches the right banks at the right time, ultimately increasing your likelihood of success.
Benefits of SBA Loans for Arizona Small Businesses
Whether you’re a new startup or an established small business, securing an SBA loan can help you expand operations, purchase equipment, or boost working capital. Arizona’s diverse economic base and thriving entrepreneurial ecosystem provide a unique opportunity for small business owners to succeed, and we’re here to help you every step of the way.
Ready to Apply for an SBA Loan in Arizona?
If you’re ready to find the best SBA lenders in Arizona, contact us to begin your journey. Our team at GoSBA Loans is committed to helping your small business secure the financing it needs to grow and thrive in 2024 and beyond.
