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 2019, California SBA loan providers funded 6,310 businesses for total California SBA loan volume of $3.5 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 Live Oak, Wells Fargo, MUFG Union Bank, U.S. Bank, Bank of Hope, Seacoast Commerce Bank, JPMorgan Chase, Celtic Bank, Bank of The West, and Newtek Small Business Finance. These ten lenders have funded 2,769 businesses with a loan volume of $1.1 billion 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 2020:

RANK	BANK	LOANS FUNDED	VOLUME FUNDED ($)
1	Live Oak Banking	105	$173,394,500
2	Wells Fargo Bank	615	$160,286,500
3	MUFG Union Bank	110	$144,437,500
4	U.S. Bank	766	$134,881,200
5	Bank of Hope	275	$107,614,900
6	Seacoast Commerce Bank	98	$104,344,200
7	JPMorgan Chase Bank	412	$97,591,000
8	Celtic Bank Corporation	137	$96,032,500
9	Bank of the West	149	$94,141,000
10	Newtek Small Business Finance	102	$82,029,100
11	Commonwealth Business Bank	101	$78,640,000
12	Harvest Small Business Finance	67	$76,267,100
13	Pinnacle Bank	30	$73,013,500
14	Centerstone SBA Lending, Inc.	51	$67,645,500
15	Pacific City Bank	76	$67,363,000
16	First Choice Bank	47	$65,909,800
17	First Home Bank	262	$61,254,200
18	Umpqua Bank	86	$58,354,000
19	Summit State Bank	34	$55,726,000
20	East West Bank	93	$55,530,500
21	United Business Bank	68	$53,128,200
22	Hanmi Bank	89	$49,479,000
23	Pacific Premier Bank	31	$44,768,300
24	Readycap Lending, LLC	38	$44,595,800
25	Open Bank	38	$43,043,700
26	Byline Bank	27	$40,698,800
27	Crossroads Small Business	40	$38,834,500
28	First Bank	46	$37,612,900
29	Hana Small Business Lending, Inc.	23	$37,514,000
30	US Metro Bank	33	$36,965,700
31	Stearns Bank	94	$36,941,700
32	Poppy Bank	18	$35,702,200
33	Bank of America	66	$35,513,700
34	Commercial Bank of California	25	$31,887,200
35	GBC International Bank	35	$31,303,400
36	Zions Bank	78	$30,715,400
37	CalPrivate Bank	28	$28,400,400
38	Santa Cruz County Bank	45	$28,127,000
39	CDC Small Business Finance	176	$27,570,700
40	Fremont Bank	19	$25,535,800
41	Exchange Bank	35	$24,830,800
42	American Continental Bank	23	$24,587,500
43	Five Star Bank	99	$23,292,500
44	BBVA USA	17	$22,557,800
45	Plumas Bank	36	$20,430,700
46	Banner Bank	63	$19,677,700
47	Fresno First Bank	40	$19,396,719
48	Sunwest Bank	10	$18,668,200
49	Pacific Enterprise Bank	18	$18,393,000
50	BankUnited	20	$18,024,600

 

Sounds great? Click on apply now and we’ll match you with the best SBA loan providers in California.