Best Pennsylvania SBA Lenders & Rates (2026)
2025 FOIA data: top lenders, rates, industries & loan types in Pennsylvania
SBA Loans in Pennsylvania
Pennsylvania businesses received $1.19B in SBA 7(a) loan approvals across 2,701 businesses in 2025, supporting 27,579 jobs. With 142 active SBA lenders competing for business in Pennsylvania, comparing offers is essential — rates vary significantly by lender.
The average SBA loan in Pennsylvania is $440K at 10.41%, which is 0.09% above the national average of 10.32%. The top lender in Pennsylvania is Live Oak Banking Company, with the most-funded industry being Full-Service Restaurants.
SBA Loans in Pennsylvania by Business Type
Whether you’re starting a business, buying one, or expanding an existing operation in Pennsylvania, here’s how SBA lending breaks down:
Startups represent 17% of Pennsylvania SBA loans (424 loans totaling $205.1M). Business acquisitions (change of ownership) account for 25% (278 loans, $302.5M). Existing businesses make up the largest share at 43% (1509 loans). If you’re buying a business in Pennsylvania, acquisitions are a well-established use case for SBA 7(a) loans.
Pennsylvania vs. National Average
How does Pennsylvania’s SBA lending market compare to the national average in 2025?
Pennsylvania10.41%
National Avg10.32%
Pennsylvania’s avg rate is 0.09% higher than the national average
Pennsylvania$440K
National Avg$478K
Pennsylvania’s avg loan is 0.9x the national average
A rate higher than the national average of 10.32% is significant context for Pennsylvania 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 Pennsylvania (2025 Data)
The table below ranks every SBA 7(a) lender active in Pennsylvania 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 | Live Oak Banking Company | $94.1M | 80 | 9.53% |
| 2 | Brookline Bank, a Division of Beacon Bank and Trust | $62.5M | 45 | 9.74% |
| 3 | The Huntington National Bank | $58.6M | 241 | 9.69% |
| 4 | Wilmington Savings Fund Society FSB | $57.6M | 65 | 9.75% |
| 5 | First Commonwealth Bank | $46.7M | 72 | 9.48% |
| 6 | Meridian Bank | $46.1M | 54 | 9.78% |
| 7 | TD Bank, National Association | $44.6M | 288 | 10.58% |
| 8 | Northeast Bank | $43.2M | 253 | 10.82% |
| 9 | Newtek Bank, National Association | $39.7M | 115 | 11.01% |
| 10 | Manufacturers and Traders Trust Company | $33.5M | 324 | 11.55% |
| 11 | Univest Bank and Trust Co | $29.7M | 49 | 10.02% |
| 12 | Northwest Bank | $26.1M | 49 | 10.11% |
| 13 | First Internet Bank of Indiana | $24.2M | 14 | 10.23% |
| 14 | Readycap Lending, LLC | $24.0M | 88 | 12.52% |
| 15 | Fulton Bank, National Association | $23.9M | 32 | 9.83% |
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 Pennsylvania have funded the most deals locally, meaning their loan officers understand Pennsylvania’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 Pennsylvania-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 Pennsylvania
One 5-minute application. 142 lenders competing for your deal. GoSBA matches you to the best fit — free, no obligation.
Top Industries Funded in Pennsylvania
SBA lending in Pennsylvania reflects the state’s economic profile and business formation trends. The table below shows which industries received the most SBA 7(a) funding in Pennsylvania in 2025, ranked by total dollar volume:
| Industry | Loans | Volume |
|---|---|---|
| Full-Service Restaurants | 123 | $57.9M |
| Child Day Care Services | 53 | $42.7M |
| Limited-Service Restaurants | 89 | $42.0M |
| Plumbing, Heating, and Air-Conditioning Contractors | 65 | $27.5M |
| Veterinary Services | 16 | $25.1M |
| Fitness and Recreational Sports Centers | 65 | $24.3M |
| Hotels (except Casino Hotels) and Motels | 12 | $22.4M |
| General Automotive Repair | 51 | $20.4M |
| Home Health Care Services | 36 | $20.2M |
| Residential Remodelers | 82 | $18.5M |
| All Other Amusement and Recreation Industries | 22 | $18.0M |
| Landscaping Services | 72 | $17.2M |
| All Other Specialty Trade Contractors | 44 | $15.5M |
| Offices of Dentists | 20 | $15.4M |
| Snack and Nonalcoholic Beverage Bars | 53 | $14.5M |
If your business operates in one of Pennsylvania’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 Pennsylvania
SBA lending activity within Pennsylvania is concentrated in major metropolitan areas, but businesses in smaller cities and towns also receive significant funding. The table below shows where in Pennsylvania the most SBA 7(a) loans were funded in 2025:
| City | Loans | Volume |
|---|---|---|
| Philadelphia | 310 | $126.0M |
| Pittsburgh | 150 | $64.8M |
| Reading | 39 | $23.6M |
| West Chester | 32 | $23.2M |
| Lancaster | 40 | $22.5M |
| Allentown | 39 | $19.0M |
| Horsham | 14 | $17.8M |
| Bethlehem | 34 | $17.2M |
| Bensalem | 23 | $14.8M |
| Mechanicsburg | 17 | $13.6M |
How to Get an SBA Loan in Pennsylvania
Option 1: Apply directly to one of the top Pennsylvania 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 Pennsylvania-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 Pennsylvania in 2025?
What is the average SBA loan interest rate in Pennsylvania?
Can I get an SBA loan to start a business in Pennsylvania?
Who is the top SBA lender in Pennsylvania?
What industries get the most SBA loans in Pennsylvania?
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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.
