Best South Carolina SBA Lenders & Rates (2026)
2025 FOIA data: top lenders, rates, industries & loan types in South Carolina
SBA Loans in South Carolina
South Carolina businesses received $505.7M in SBA 7(a) loan approvals across 927 businesses in 2025, supporting 8,651 jobs. With 106 active SBA lenders competing for business in South Carolina, comparing offers is essential — rates vary significantly by lender.
The average SBA loan in South Carolina is $545K at 10.41%, which is 0.09% above the national average of 10.32%. The top lender in South Carolina is GBank, with the most-funded industry being Hotels (except Casino Hotels) and Motels.
SBA Loans in South Carolina by Business Type
Whether you’re starting a business, buying one, or expanding an existing operation in South Carolina, here’s how SBA lending breaks down:
Startups represent 21% of South Carolina SBA loans (186 loans totaling $108.1M). Business acquisitions (change of ownership) account for 26% (110 loans, $129.9M). Existing businesses make up the largest share at 35% (473 loans). If you’re buying a business in South Carolina, acquisitions are a well-established use case for SBA 7(a) loans.
South Carolina vs. National Average
How does South Carolina’s SBA lending market compare to the national average in 2025?
South Carolina10.41%
National Avg10.32%
South Carolina’s avg rate is 0.09% higher than the national average
South Carolina$545K
National Avg$478K
South Carolina’s avg loan is 1.1x the national average
A rate higher than the national average of 10.32% is significant context for South Carolina 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 South Carolina (2025 Data)
The table below ranks every SBA 7(a) lender active in South Carolina 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 | GBank | $48.6M | 14 | 8.59% |
| 2 | The Huntington National Bank | $32.1M | 76 | 9.53% |
| 3 | Live Oak Banking Company | $30.9M | 34 | 9.34% |
| 4 | TD Bank, National Association | $25.2M | 133 | 10.6% |
| 5 | Newtek Bank, National Association | $21.2M | 47 | 11.24% |
| 6 | First-Citizens Bank & Trust Company | $19.8M | 17 | 10.06% |
| 7 | Pinnacle Bank | $18.1M | 16 | 9.59% |
| 8 | Northeast Bank | $13.8M | 98 | 10.94% |
| 9 | Readycap Lending, LLC | $11.2M | 37 | 12.68% |
| 10 | Harvest Small Business Finance, LLC | $11.2M | 9 | 10.33% |
| 11 | Countybank | $11.1M | 22 | 9.85% |
| 12 | United Community Bank | $10.3M | 12 | 9.17% |
| 13 | First Internet Bank of Indiana | $9.7M | 8 | 10.16% |
| 14 | First Bank of the Lake | $8.6M | 9 | 10.78% |
| 15 | United Midwest Savings Bank National Association | $8.5M | 26 | 10.35% |
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 South Carolina have funded the most deals locally, meaning their loan officers understand South Carolina’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 South Carolina-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 South Carolina
One 5-minute application. 106 lenders competing for your deal. GoSBA matches you to the best fit — free, no obligation.
Top Industries Funded in South Carolina
SBA lending in South Carolina reflects the state’s economic profile and business formation trends. The table below shows which industries received the most SBA 7(a) funding in South Carolina in 2025, ranked by total dollar volume:
| Industry | Loans | Volume |
|---|---|---|
| Hotels (except Casino Hotels) and Motels | 28 | $88.7M |
| Full-Service Restaurants | 42 | $29.9M |
| Limited-Service Restaurants | 43 | $26.0M |
| Fitness and Recreational Sports Centers | 26 | $15.9M |
| General Automotive Repair | 20 | $10.4M |
| Pet Care (except Veterinary) Services | 18 | $10.3M |
| Offices of Dentists | 13 | $9.0M |
| Child Day Care Services | 7 | $7.8M |
| Other Personal Care Services | 15 | $7.6M |
| All Other Amusement and Recreation Industries | 6 | $7.1M |
| Snack and Nonalcoholic Beverage Bars | 15 | $6.7M |
| RV (Recreational Vehicle) Parks and Campgrounds | 3 | $6.5M |
| General Freight Trucking, Local | 13 | $6.5M |
| New Single-Family Housing Construction (except Operative Builders) | 13 | $6.3M |
| Plumbing, Heating, and Air-Conditioning Contractors | 18 | $6.1M |
If your business operates in one of South Carolina’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 South Carolina
SBA lending activity within South Carolina is concentrated in major metropolitan areas, but businesses in smaller cities and towns also receive significant funding. The table below shows where in South Carolina the most SBA 7(a) loans were funded in 2025:
| City | Loans | Volume |
|---|---|---|
| Greenville | 86 | $36.9M |
| Rock Hill | 35 | $34.2M |
| Columbia | 60 | $31.4M |
| North Charleston | 41 | $27.5M |
| Myrtle Beach | 37 | $25.5M |
| Charleston | 59 | $24.5M |
| Spartanburg | 25 | $20.0M |
| Summerville | 43 | $18.8M |
| Hilton Head Island | 26 | $16.4M |
| Bluffton | 31 | $15.6M |
How to Get an SBA Loan in South Carolina
Option 1: Apply directly to one of the top South Carolina 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 South Carolina-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 South Carolina in 2025?
What is the average SBA loan interest rate in South Carolina?
Can I get an SBA loan to start a business in South Carolina?
Who is the top SBA lender in South Carolina?
What industries get the most SBA loans in South Carolina?
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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.
