Best New York SBA Lenders & Rates (2026)
2025 FOIA data: top lenders, rates, industries & loan types in New York
SBA Loans in New York
New York businesses received $1.83B in SBA 7(a) loan approvals across 5,300 businesses in 2025, supporting 42,277 jobs. With 175 active SBA lenders competing for business in New York, comparing offers is essential — rates vary significantly by lender.
The average SBA loan in New York is $346K at 10.76%, which is 0.44% above the national average of 10.32%. The top lender in New York is Newtek Bank, National Association, with the most-funded industry being Full-Service Restaurants.
SBA Loans in New York by Business Type
Whether you’re starting a business, buying one, or expanding an existing operation in New York, here’s how SBA lending breaks down:
Startups represent 10% of New York SBA loans (440 loans totaling $181.3M). Business acquisitions (change of ownership) account for 15% (233 loans, $266.3M). Existing businesses make up the largest share at 66% (3859 loans). If you’re buying a business in New York, acquisitions are a well-established use case for SBA 7(a) loans.
New York vs. National Average
How does New York’s SBA lending market compare to the national average in 2025?
New York10.76%
National Avg10.32%
New York’s avg rate is 0.44% higher than the national average
New York$346K
National Avg$478K
New York’s avg loan is 0.7x the national average
A rate higher than the national average of 10.32% is significant context for New York borrowers. Individual rates depend on your credit profile, deal structure, loan size, and the specific lender you work with — which is why comparing multiple offers from different banks is consistently the best strategy to get the lowest possible rate on your SBA loan.
Top SBA Lenders in New York (2025 Data)
The table below ranks every SBA 7(a) lender active in New York in 2025 by total dollar volume approved. This data comes directly from SBA FOIA records and represents actual funded loans — not pre-qualifications or applications received.
| # | Lender | Volume | Loans | Avg Rate |
|---|---|---|---|---|
| 1 | Newtek Bank, National Association | $152.8M | 291 | 11.07% |
| 2 | Readycap Lending, LLC | $117.2M | 314 | 11.55% |
| 3 | Northeast Bank | $106.0M | 563 | 10.99% |
| 4 | Live Oak Banking Company | $97.9M | 86 | 9.48% |
| 5 | TD Bank, National Association | $95.0M | 806 | 10.75% |
| 6 | JPMorgan Chase Bank, National Association | $81.1M | 313 | 11.43% |
| 7 | Manufacturers and Traders Trust Company | $80.5M | 756 | 11.56% |
| 8 | FinWise Bank | $50.8M | 48 | 10.24% |
| 9 | The Huntington National Bank | $42.1M | 88 | 9.76% |
| 10 | Lendistry SBLC, LLC | $41.7M | 200 | 12.14% |
| 11 | Webster Bank National Association | $35.8M | 98 | 9.42% |
| 12 | Harvest Small Business Finance, LLC | $34.7M | 26 | 10.22% |
| 13 | KeyBank National Association | $33.8M | 146 | 10.73% |
| 14 | First Bank of the Lake | $32.0M | 40 | 11.79% |
| 15 | Bank of Hope | $31.6M | 36 | 9.46% |
Pay close attention to the “Avg Rate” column — rates vary significantly between lenders operating in the same state. The spread between the lowest and highest rate in this table can represent tens of thousands of dollars over the life of your loan. The top lenders in New York have funded the most deals locally, meaning their loan officers understand New York’s commercial real estate values, industry mix, and economic conditions. This familiarity typically translates into faster underwriting and more competitive terms.
However, don’t limit your search to local banks alone. Many of the top national SBA lenders fund loans across all 50 states and may offer better rates or more experience with your specific industry. An SBA loan broker like GoSBA gives you access to both New York-based lenders and national lenders with a single application — ensuring you get the most competitive offer available.
Get Matched with the Best SBA Lender in New York
One 5-minute application. 175 lenders competing for your deal. GoSBA matches you to the best fit — free, no obligation.
Top Industries Funded in New York
SBA lending in New York reflects the state’s economic profile and business formation trends. The table below shows which industries received the most SBA 7(a) funding in New York in 2025, ranked by total dollar volume:
| Industry | Loans | Volume |
|---|---|---|
| Full-Service Restaurants | 262 | $75.7M |
| Limited-Service Restaurants | 160 | $55.8M |
| Fitness and Recreational Sports Centers | 95 | $42.0M |
| Supermarkets and Other Grocery (except Convenience) Stores | 46 | $39.7M |
| Child Day Care Services | 66 | $38.8M |
| Hotels (except Casino Hotels) and Motels | 16 | $30.3M |
| Plumbing, Heating, and Air-Conditioning Contractors | 86 | $28.0M |
| All Other Specialty Trade Contractors | 78 | $27.4M |
| Offices of Dentists | 39 | $25.1M |
| All Other Professional, Scientific, and Technical Services | 65 | $24.1M |
| Residential Remodelers | 161 | $24.0M |
| Other Grocery and Related Products Merchant Wholesalers | 31 | $24.0M |
| All Other Personal Services | 56 | $21.7M |
| New Single-Family Housing Construction (except Operative Builders) | 55 | $21.2M |
| Snack and Nonalcoholic Beverage Bars | 61 | $19.7M |
If your business operates in one of New York’s top-funded industries, you’re in a strong position. Lenders who have funded dozens of similar businesses in your state understand the unit economics, seasonal revenue patterns, and typical margins for your sector. This familiarity translates into faster approvals, less documentation back-and-forth, and more accurate risk pricing — which typically means better terms for the borrower.
Even if your industry isn’t listed above, SBA 7(a) loans are available for nearly every legal business type. An SBA loan broker can identify which lenders have the most experience with your specific industry.
Top Cities for SBA Loans in New York
SBA lending activity within New York is concentrated in major metropolitan areas, but businesses in smaller cities and towns also receive significant funding. The table below shows where in New York the most SBA 7(a) loans were funded in 2025:
| City | Loans | Volume |
|---|---|---|
| Brooklyn | 745 | $266.1M |
| New York | 562 | $197.8M |
| Bronx | 146 | $46.8M |
| Rochester | 168 | $42.2M |
| Buffalo | 114 | $32.4M |
| Long Island City | 36 | $27.9M |
| Flushing | 64 | $27.6M |
| Spring Valley | 107 | $26.3M |
| Monroe | 104 | $24.6M |
| Staten Island | 101 | $24.2M |
How to Get an SBA Loan in New York
Option 1: Apply directly to one of the top New York lenders above. You’ll get a single quote from one bank.
Option 2: Use an SBA loan broker (recommended). GoSBA Loans submits your application to multiple New York-active lenders simultaneously, creating competition for your deal. Better rates, faster approvals — at no cost to you.
Frequently Asked Questions
How many SBA loans were funded in New York in 2025?
What is the average SBA loan interest rate in New York?
Can I get an SBA loan to start a business in New York?
Who is the top SBA lender in New York?
What industries get the most SBA loans in New York?
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Data sourced from official SBA 7(a) FOIA loan approval records for Calendar Year 2025, published by the U.S. Small Business Administration. For official information, visit sba.gov.
