Best Ohio SBA Lenders & Rates (2026)
2025 FOIA data: top lenders, rates, industries & loan types in Ohio
SBA Loans in Ohio
Ohio businesses received $1.25B in SBA 7(a) loan approvals across 3,339 businesses in 2025, supporting 29,584 jobs. With 143 active SBA lenders competing for business in Ohio, comparing offers is essential — rates vary significantly by lender.
The average SBA loan in Ohio is $374K at 9.92%, which is 0.4% below the national average of 10.32%. The top lender in Ohio is The Huntington National Bank, with the most-funded industry being Hotels (except Casino Hotels) and Motels.
SBA Loans in Ohio by Business Type
Whether you’re starting a business, buying one, or expanding an existing operation in Ohio, here’s how SBA lending breaks down:
Startups represent 18% of Ohio SBA loans (642 loans totaling $223.9M). Business acquisitions (change of ownership) account for 28% (299 loans, $348.9M). Existing businesses make up the largest share at 42% (1991 loans). If you’re buying a business in Ohio, acquisitions are a well-established use case for SBA 7(a) loans.
Ohio vs. National Average
How does Ohio’s SBA lending market compare to the national average in 2025?
Ohio9.92%
National Avg10.32%
✅ Ohio’s avg rate is 0.4% lower than the national average
Ohio$374K
National Avg$478K
Ohio’s avg loan is 0.8x the national average
A rate lower than the national average of 10.32% is significant context for Ohio 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 Ohio (2025 Data)
The table below ranks every SBA 7(a) lender active in Ohio 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 | The Huntington National Bank | $327.6M | 1695 | 9.7% |
| 2 | Live Oak Banking Company | $80.4M | 58 | 9.21% |
| 3 | U.S. Bank, National Association | $64.0M | 194 | 9.92% |
| 4 | GBank | $49.3M | 20 | 8.79% |
| 5 | First Commonwealth Bank | $48.8M | 64 | 9.55% |
| 6 | KeyBank National Association | $39.3M | 104 | 10.35% |
| 7 | Newtek Bank, National Association | $38.9M | 89 | 11.29% |
| 8 | Shoreham Bank | $38.0M | 16 | 9.73% |
| 9 | Northeast Bank | $24.1M | 158 | 10.88% |
| 10 | United Midwest Savings Bank National Association | $23.6M | 45 | 10.21% |
| 11 | First Financial Bank | $22.5M | 32 | 8.81% |
| 12 | WesBanco Bank, Inc. | $22.1M | 23 | 9.04% |
| 13 | Readycap Lending, LLC | $21.0M | 62 | 12.59% |
| 14 | First Western SBLC, Inc | $15.2M | 4 | 8.62% |
| 15 | Cadence Bank | $15.2M | 19 | 10.07% |
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 Ohio have funded the most deals locally, meaning their loan officers understand Ohio’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 Ohio-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 Ohio
One 5-minute application. 143 lenders competing for your deal. GoSBA matches you to the best fit — free, no obligation.
Top Industries Funded in Ohio
SBA lending in Ohio reflects the state’s economic profile and business formation trends. The table below shows which industries received the most SBA 7(a) funding in Ohio in 2025, ranked by total dollar volume:
| Industry | Loans | Volume |
|---|---|---|
| Hotels (except Casino Hotels) and Motels | 45 | $146.6M |
| Limited-Service Restaurants | 101 | $36.6M |
| Full-Service Restaurants | 113 | $30.1M |
| Offices of Dentists | 31 | $29.7M |
| Child Day Care Services | 54 | $28.8M |
| Plumbing, Heating, and Air-Conditioning Contractors | 53 | $22.0M |
| All Other Amusement and Recreation Industries | 38 | $21.2M |
| Home Health Care Services | 70 | $19.5M |
| General Freight Trucking, Long Distance, Truckload | 140 | $18.9M |
| Snack and Nonalcoholic Beverage Bars | 65 | $18.6M |
| Residential Remodelers | 88 | $18.5M |
| All Other Specialty Trade Contractors | 69 | $17.8M |
| Fitness and Recreational Sports Centers | 50 | $17.1M |
| Electrical Contractors | 41 | $15.0M |
| Other Miscellaneous Durable Goods Merchant Wholesalers | 8 | $13.7M |
If your business operates in one of Ohio’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 Ohio
SBA lending activity within Ohio is concentrated in major metropolitan areas, but businesses in smaller cities and towns also receive significant funding. The table below shows where in Ohio the most SBA 7(a) loans were funded in 2025:
| City | Loans | Volume |
|---|---|---|
| Columbus | 305 | $113.8M |
| Cincinnati | 211 | $90.5M |
| Cleveland | 164 | $64.0M |
| Dayton | 105 | $38.3M |
| Akron | 74 | $22.3M |
| Toledo | 76 | $19.7M |
| Youngstown | 54 | $17.6M |
| Westerville | 32 | $16.9M |
| Reynoldsburg | 25 | $16.2M |
| Westlake | 18 | $14.0M |
How to Get an SBA Loan in Ohio
Option 1: Apply directly to one of the top Ohio 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 Ohio-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 Ohio in 2025?
What is the average SBA loan interest rate in Ohio?
Can I get an SBA loan to start a business in Ohio?
Who is the top SBA lender in Ohio?
What industries get the most SBA loans in Ohio?
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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.
