Best SBA Lenders in Salem, OR (2026)
2025 FOIA data: top lenders, rates & industries for Salem SBA loans
SBA Loans in Salem, Oregon
Looking for an SBA loan in Salem, Oregon? Based on 2025 FOIA data, 54 SBA 7(a) loans were funded in Salem totaling $19.5M, supporting an estimated 508 jobs. With 20 active lenders competing for business in the Salem market, comparing offers is essential to getting the best rate and terms.
The average SBA loan in Salem is $360K at an average rate of 10.5%. The top lender in Salem is KeyBank National Association, with the most-funded industry being Amusement and Theme Parks. See all Oregon SBA lenders for statewide rankings.
SBA Loans in Salem by Business Type
Whether you’re starting a new business in Salem, buying an existing one, or expanding your current operation, here’s how SBA lending breaks down in your market:
Startups represent 24% of SBA loans in Salem (5 loans funded in 2025), which tells you how comfortable local lenders are funding new ventures without established operating history. Business acquisitions account for 10% (3 loans) — if you’re looking to buy a business in Salem, this is a proven use case for SBA financing. Existing businesses make up 65% and typically receive the most favorable terms.
Top SBA Lenders in Salem, OR (2025 Data)
The table below ranks every SBA 7(a) lender that funded loans to Salem businesses in 2025, ordered by total dollar volume. This data comes directly from SBA FOIA records:
| # | Lender | Volume | Loans | Avg Rate |
|---|---|---|---|---|
| 1 | KeyBank National Association | $4.1M | 3 | 10.44% |
| 2 | Banc of California | $2.4M | 2 | 7.5% |
| 3 | JPMorgan Chase Bank, National Association | $2.4M | 3 | 8.36% |
| 4 | Newtek Bank, National Association | $1.8M | 4 | 10.38% |
| 5 | Live Oak Banking Company | $1.4M | 3 | 9.96% |
| 6 | Northeast Bank | $1.2M | 9 | 11% |
| 7 | U.S. Bank, National Association | $1.0M | 8 | 9.38% |
| 8 | First Bank of Central Ohio | $966K | 1 | 10.25% |
| 9 | First Interstate Bank | $954K | 2 | 8.25% |
| 10 | Southwestern National Bank | $720K | 1 | 9.5% |
The top lenders in Salem have direct experience with local businesses and understand the Salem 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 Salem 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 Salem
One 5-minute application. 20+ lenders competing for your deal. GoSBA matches you to the best fit — free, no obligation.
Top Industries Funded in Salem
These are the industries that received the most SBA 7(a) funding in Salem 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 |
|---|---|---|
| Amusement and Theme Parks | 1 | $4.0M |
| Offices of Physicians (except Mental Health Specialists) | 1 | $1.8M |
| Full-Service Restaurants | 7 | $1.6M |
| Offices of All Other Miscellaneous Health Practitioners | 4 | $1.1M |
| Insurance Agencies and Brokerages | 2 | $1.0M |
| Other Millwork (including Flooring) | 1 | $900K |
| Other Accounting Services | 3 | $833K |
| Lessors of Miniwarehouses and Self-Storage Units | 1 | $680K |
| Offices of Lawyers | 1 | $617K |
| New Single-Family Housing Construction (except Operative Builders) | 1 | $500K |
Lenders with experience funding your specific industry in Salem 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 Salem
Option 1: Apply directly to one of the top Salem 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 Salem-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.
