Best SBA Lenders in Memphis, TN (2026)
2025 FOIA data: top lenders, rates & industries for Memphis SBA loans
SBA Loans in Memphis, Tennessee
Looking for an SBA loan in Memphis, Tennessee? Based on 2025 FOIA data, 66 SBA 7(a) loans were funded in Memphis totaling $41.7M, supporting an estimated 912 jobs. With 23 active lenders competing for business in the Memphis market, comparing offers is essential to getting the best rate and terms.
The average SBA loan in Memphis is $632K at an average rate of 10.44%. The top lender in Memphis is Pinnacle Bank, with the most-funded industry being Commercial and Industrial Machinery and Equipment (except Automotive a. See all Tennessee SBA lenders for statewide rankings.
SBA Loans in Memphis by Business Type
Whether you’re starting a new business in Memphis, buying an existing one, or expanding your current operation, here’s how SBA lending breaks down in your market:
Startups represent 10% of SBA loans in Memphis (9 loans funded in 2025), which tells you how comfortable local lenders are funding new ventures without established operating history. Business acquisitions account for 52% (12 loans) — if you’re looking to buy a business in Memphis, this is a proven use case for SBA financing. Existing businesses make up 27% and typically receive the most favorable terms.
Top SBA Lenders in Memphis, TN (2025 Data)
The table below ranks every SBA 7(a) lender that funded loans to Memphis businesses in 2025, ordered by total dollar volume. This data comes directly from SBA FOIA records:
| # | Lender | Volume | Loans | Avg Rate |
|---|---|---|---|---|
| 1 | Pinnacle Bank | $6.1M | 5 | 9.45% |
| 2 | Paragon Bank | $5.9M | 5 | 8.75% |
| 3 | Cadence Bank | $5.4M | 2 | 9.88% |
| 4 | Live Oak Banking Company | $5.0M | 6 | 9.39% |
| 5 | Celtic Bank Corporation | $3.5M | 3 | 10.33% |
| 6 | Renasant Bank | $2.5M | 1 | 9.75% |
| 7 | United Community Bank | $2.2M | 1 | 8.5% |
| 8 | Newtek Bank, National Association | $1.8M | 10 | 11.32% |
| 9 | Readycap Lending, LLC | $1.4M | 5 | 12.5% |
| 10 | Northeast Bank | $1.4M | 11 | 11.09% |
The top lenders in Memphis have direct experience with local businesses and understand the Memphis market — commercial real estate values, local industry dynamics, and regional economic conditions. Pay attention to the “Avg Rate” column, as rates vary significantly between lenders. A 0.5-1.0% rate difference on a $500K loan translates to $15,000-$30,000 in savings over the life of the loan.
Don’t limit your search to banks listed above — many national SBA lenders also fund loans in Memphis and may offer better rates. An SBA loan broker like GoSBA gives you access to both local and national lenders with one application.
Get Matched with the Best SBA Lender in Memphis
One 5-minute application. 23+ lenders competing for your deal. GoSBA matches you to the best fit — free, no obligation.
Top Industries Funded in Memphis
These are the industries that received the most SBA 7(a) funding in Memphis in 2025. If your business is in one of these sectors, lenders are already familiar with your business model and may offer faster approvals:
| Industry | Loans | Volume |
|---|---|---|
| Commercial and Industrial Machinery and Equipment (except Automotive a | 3 | $3.5M |
| Security Systems Services (except Locksmiths) | 2 | $3.4M |
| General Freight Trucking, Long Distance, Truckload | 2 | $3.3M |
| Other Personal and Household Goods Repair and Maintenance | 3 | $3.3M |
| Limited-Service Restaurants | 7 | $3.2M |
| Offices of Dentists | 2 | $3.0M |
| Offices of Real Estate Agents and Brokers | 2 | $2.6M |
| Hotels (except Casino Hotels) and Motels | 1 | $2.5M |
| Professional and Management Development Training | 1 | $1.4M |
| All Other Professional, Scientific, and Technical Services | 2 | $1.2M |
Lenders with experience funding your specific industry in Memphis understand the local competitive landscape, typical revenue ranges, and seasonal patterns. This familiarity often translates to faster underwriting and more competitive terms. If your industry doesn’t appear above, SBA loans are available for nearly every legal business type — an SBA broker can match you with lenders who specialize in your sector.
How to Get an SBA Loan in Memphis
Option 1: Apply directly to one of the top Memphis lenders listed above. You’ll receive a single quote from one bank.
Option 2: Use an SBA loan broker (recommended). GoSBA Loans submits your application to multiple Memphis-active lenders and national SBA lenders simultaneously. More offers means better rates, faster approvals, and zero cost to you — lenders pay the broker fee.
Frequently Asked Questions
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Data from SBA 7(a) FOIA records, Calendar Year 2025. Visit sba.gov for official info.
