Best SBA Lenders in Toledo, OH (2026)
2025 FOIA data: top lenders, rates & industries for Toledo SBA loans
SBA Loans in Toledo, Ohio
Looking for an SBA loan in Toledo, Ohio? Based on 2025 FOIA data, 76 SBA 7(a) loans were funded in Toledo totaling $19.7M, supporting an estimated 482 jobs. With 16 active lenders competing for business in the Toledo market, comparing offers is essential to getting the best rate and terms.
The average SBA loan in Toledo is $259K at an average rate of 10.34%. The top lender in Toledo is GBank, with the most-funded industry being Hotels (except Casino Hotels) and Motels. See all Ohio SBA lenders for statewide rankings.
SBA Loans in Toledo by Business Type
Whether you’re starting a new business in Toledo, buying an existing one, or expanding your current operation, here’s how SBA lending breaks down in your market:
Startups represent 25% of SBA loans in Toledo (21 loans funded in 2025), which tells you how comfortable local lenders are funding new ventures without established operating history. Business acquisitions account for 10% (4 loans) — if you’re looking to buy a business in Toledo, this is a proven use case for SBA financing. Existing businesses make up 38% and typically receive the most favorable terms.
Top SBA Lenders in Toledo, OH (2025 Data)
The table below ranks every SBA 7(a) lender that funded loans to Toledo businesses in 2025, ordered by total dollar volume. This data comes directly from SBA FOIA records:
| # | Lender | Volume | Loans | Avg Rate |
|---|---|---|---|---|
| 1 | GBank | $4.7M | 1 | 8.5% |
| 2 | The Huntington National Bank | $4.2M | 49 | 9.88% |
| 3 | Live Oak Banking Company | $3.0M | 1 | 7.5% |
| 4 | KeyBank National Association | $1.3M | 3 | 10.91% |
| 5 | Northeast Bank | $1.2M | 5 | 11.4% |
| 6 | Dogwood State Bank | $1.1M | 2 | 9.75% |
| 7 | Lendistry SBLC, LLC | $905K | 3 | 11.83% |
| 8 | Stearns Bank National Association | $895K | 1 | 10% |
| 9 | The Croghan Colonial Bank | $700K | 1 | 8.34% |
| 10 | Readycap Lending, LLC | $550K | 2 | 12.62% |
The top lenders in Toledo have direct experience with local businesses and understand the Toledo 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 Toledo 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 Toledo
One 5-minute application. 16+ lenders competing for your deal. GoSBA matches you to the best fit — free, no obligation.
Top Industries Funded in Toledo
These are the industries that received the most SBA 7(a) funding in Toledo 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 |
|---|---|---|
| Hotels (except Casino Hotels) and Motels | 1 | $4.7M |
| Offices of Dentists | 1 | $3.0M |
| Medical Laboratories | 1 | $1.2M |
| Full-Service Restaurants | 3 | $1.0M |
| Home Health Care Services | 2 | $750K |
| All Other Miscellaneous Manufacturing | 1 | $700K |
| Insurance Agencies and Brokerages | 2 | $545K |
| Sports and Recreation Instruction | 3 | $457K |
| General Freight Trucking, Long Distance, Truckload | 5 | $370K |
| Mobile Food Services | 4 | $363K |
Lenders with experience funding your specific industry in Toledo 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 Toledo
Option 1: Apply directly to one of the top Toledo 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 Toledo-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.
