California makes up as the 5th largest economy in the world in terms of competing with other countries. More so, small business industries seem to thrive even more. There are 3.9 million small businesses operating in the state that employs 7 million people, which makes up 48% of all employees in California. The food service industry has the biggest small business employment share of 63.2%, while healthcare and social assistance come in second with a respective share of 47.3%.
California’s population plays a huge part in their strong and progressive economy, for having more than 39 million residents. The state is also blessed for having Hollywood, the entertainment capital of the world. And so is Silicon Valley, a city that origins advanced technology businesses and fast-rising start-ups.
Industries such as hotels, gasoline stations, restaurants, dentist offices, and lessors of non-residential buildings are the most popular in California. In FY 2018, California SBA loan providers funded 7,287 businesses for total California SBA loan volume of $4.07 billion. California is also known for having one of the most diverse business owners. In fact, one in every 100 small businesses, there are 5 owned and operated by women, 10 by minorities, and 13 by military veterans.
One of the significant difficulties that small businesses face is access to affordable financing. The highest ten lenders signing SBA-backed loans in California include Wells Fargo, Live Oak, Bank of Hope, Harvest Small Business Finance, JPMorgan Chase, Bank of The West, MUFG Union Bank, Seacoast Commerce Bank, and U.S. Bank. These ten lenders have funded 3,016 businesses with a loan volume of $1.5 million in total. However, just because these ten are the most popular, it doesn’t mean these are the right lenders for your industry and your business size. After reading our analysis, please click apply now and we’d be happy to match you with the best SBA loan providers in California.
Here at GoSBA Loans, we understand the struggle of finding the best and cheapest business loan for your business. We are best at accommodating businesses looking for capital, purchasing equipment, refinancing high-interest loans, and those who are interested in buying commercial property or financing building improvements. We make lending loans for small businesses to have an easier, faster, and more affordable process.
GoSBA Loans is proud to announce the top 50 California SBA lenders in 2019:
|RANK||BANK||LOANS FUNDED||VOLUME FUNDED ($)|
|1||Wells Fargo Bank, National Association||870||$336,426,600|
|2||Live Oak Banking Company||107||$165,150,000|
|3||Bank of Hope||291||$144,770,800|
|4||Harvest Small Business Finance, LLC||111||$138,023,800|
|5||JPMorgan Chase Bank, National Association||544||$136,421,000|
|6||Bank of the West||183||$126,463,400|
|7||MUFG Union Bank, National Association||89||$126,321,700|
|8||Seacoast Commerce Bank||122||$123,646,900|
|9||U.S. Bank National Association||644||$118,931,977|
|11||First Choice Bank||76||$85,930,400|
|12||Commonwealth Business Bank||99||$82,889,000|
|14||Celtic Bank Corporation||208||$75,476,700|
|15||Centerstone SBA Lending, Inc||58||$73,742,500|
|16||East West Bank||126||$66,353,500|
|17||Pacific Premier Bank||49||$64,721,800|
|18||Pacific City Bank||62||$60,982,700|
|19||Newtek Small Business Finance, Inc.||65||$56,563,000|
|20||Citizens Business Bank||88||$55,564,600|
|23||Readycap Lending, LCC||54||$47,085,900|
|24||US Metro Bank||40||$44,520,600|
|29||First Home Bank||173||$39,446,400|
|30||United Business Bank||38||$37,913,000|
|31||Stearns Bank National Association||95||$35,940,400|
|33||Bank of America Natl Assoc||52||$35,021,600|
|34||Hana Small Business Lending, Inc.||30||$31,530,000|
|35||American Business Bank||46||$30,958,700|
|37||CDC Small Business Finance Corporation||186||$29,639,640|
|39||Pacific Enterprise Bank||26||$26,476,000|
|41||Santa Cruz County Bank||41||$25,187,500|
|42||First General Bank||20||$24,986,500|
|43||Heritage Bank of Commerce||34||$24,776,500|
|44||Zions Bank, A Division of Zions Bancorporation||86||$24,430,670|
|46||Shinhan Bank America||31||$23,044,500|
|48||Pacific Alliance Bank||16||$22,875,000|
|49||Bank of Southern California, National Association||28||$22,460,600|
|50||GBC International Bank||34||$21,221,700|
Sounds great? Click on apply now and we’ll match you with the best SBA loan providers in California.