Top SBA Lenders for Restaurants

The restaurant industry is vibrant and competitive, and securing the right financing can make or break a new venture or expansion. With the rising cost of equipment, leases, and labor, many restaurant owners turn to SBA loans as a viable way to fund their businesses. Below, we list the top SBA lenders for restaurants along with guidance on the best loan options for various needs, such as working capital, real estate, and business acquisitions.

Top SBA Lenders for Restaurants

Bank	Total Amount Funded	Count
Newtek Bank, National Association	$71,961,000	125
Readycap Lending, LLC	$51,848,000	100
The Huntington National Bank	$51,664,700	263
First Internet Bank of Indiana	$25,254,000	20
Bank of Hope	$24,093,700	52
Byline Bank	$21,170,000	12
Bank of America, National Association	$19,021,700	32
Harvest Small Business Finance, LLC	$17,777,900	19
KeyBank National Association	$15,201,600	36
BayFirst National Bank	$14,967,200	50
Hanmi Bank	$14,623,000	22
Midwest Regional Bank	$13,709,000	9
Southwestern National Bank	$13,572,000	9
PCB Bank	$13,288,000	18
Truist Bank	$12,974,200	5
Berkshire Bank	$12,748,600	12
Celtic Bank Corporation	$12,467,800	26
Wells Fargo Bank, National Association	$12,361,000	37
Valley National Bank	$10,543,500	10
Wilmington Savings Fund Society, FSB	$10,339,000	15
TD Bank, National Association	$9,993,200	66
JPMorgan Chase Bank, National Association	$9,753,100	44
Live Oak Banking Company	$9,630,000	8
Enterprise Bank & Trust	$9,402,100	10
Old National Bank	$9,347,700	15
Plumas Bank	$9,238,300	8
ConnectOne Bank	$8,925,000	4
Cadence Bank	$8,528,000	22
Manufacturers and Traders Trust Company	$8,330,500	69
Gulf Coast Bank and Trust Company	$8,072,600	8
Fulton Bank, National Association	$7,813,900	9
First Commonwealth Bank	$7,791,200	8
Hanover Community Bank	$7,732,900	9
FWBank	$7,486,100	4
VelocitySBA, LLC	$7,328,000	7
Webster Bank National Association	$7,170,000	13
Dogwood State Bank	$7,040,800	6
Fund-Ex Solutions Group, LLC	$6,832,500	4
U.S. Bank, National Association	$6,782,500	72
Northeast Bank	$6,772,100	51
Loyal Trust Bank	$6,729,800	4
Veritex Community Bank	$6,647,500	3
Gesa CU	$6,634,900	11
American Continental Bank	$6,525,000	6
Mission Valley Bank	$6,520,000	3

Best SBA Lenders for Restaurant Working Capital

Working capital is essential for managing cash flow, purchasing inventory, and handling day-to-day operational costs in the restaurant business. Newtek Bank and Readycap Lending, LLC stand out as top SBA lenders for restaurant working capital, given their significant lending amounts and experience with the restaurant industry.

For working capital needs, SBA 7(a) loans are a perfect choice. With loan amounts up to $5 million, they offer flexible uses for covering payroll, purchasing supplies, and managing other immediate expenses. The Huntington National Bank also has a notable track record for helping restaurant owners secure working capital through SBA loans.

Best SBA Lenders for Restaurant Real Estate

Acquiring a property or expanding an existing space is a major decision for any restaurant owner. SBA loans can be used to purchase new locations or expand existing facilities. First Internet Bank of Indiana and Bank of Hope are well-known lenders that have funded several restaurant real estate projects, making them ideal partners for securing SBA 504 loans.

The SBA 504 loan program is best suited for real estate purchases, offering low interest rates and long repayment terms of up to 25 years. KeyBank and BayFirst National Bank are also great options for financing restaurant real estate, as they offer expertise in SBA-backed real estate loans with favorable terms.

Best SBA Lenders for Restaurant Business Acquisition

Buying an existing restaurant can be a great opportunity to capitalize on an already successful operation. For business acquisition, Bank of America and Harvest Small Business Finance, LLC are among the top lenders for SBA loans. They have substantial experience funding restaurant acquisitions, making them a reliable choice for entrepreneurs looking to take over an existing establishment.

SBA 7(a) loans are an excellent option for business acquisitions, with funding up to $5 million that can be used to purchase the entire business, including its assets and brand. JPMorgan Chase Bank and VelocitySBA, LLC are also strong contenders for financing restaurant acquisitions, providing competitive rates and a streamlined application process.

How to Get an SBA Loan for Restaurants

Navigating the SBA loan process can be complex, but the right lender can make it significantly easier. Start by understanding your funding needs, whether they are for working capital, real estate, or business acquisition. From there, you can select a lender from the list above that best suits your goals.

• Assess Your Needs: Determine what type of funding your restaurant requires – working capital, real estate, or acquisition.
• Select a Lender: Use the table of top SBA lenders to find one with experience in funding restaurant projects.
• Prepare Your Documentation: Gather your business plan, financial statements, and other necessary documents.
• Apply for the Loan: Work closely with your chosen lender to complete the application and meet all requirements.

Why Choose GoSBA Loans?

GoSBA Loans specializes in connecting restaurant owners with SBA lenders that understand the unique challenges of the industry. Whether you need working capital, real estate funding, or are looking to acquire an existing restaurant, GoSBA Loans can help you navigate the process and find the best lender for your needs.

Ready to Get Started?

Reach out to GoSBA Loans today and see how we can help you secure the SBA loan you need for your restaurant. Visit gosbaloans.com or call 1-855-381-6448 to speak with a specialist.