Best SBA 7(a) lenders for electrical contractors
NAICS 238210 — Electrical Contractors.
4,137 7(a) loans approved in this industry between FY2020 and 2025-12-31, totaling $1.63B.
Loans
4,137
Total $
$1.63B
Avg loan
$395K
Avg rate
9.15%
Avg term
123 mo
Industry chg-off rate
2.35%
FY20–FY23 cohort
Top 15 lenders in this industry
| # | Lender | Loans | Total $ | Avg loan | Avg rate | Chg-off % |
|---|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 385 | $90.0M | $234K | 8.50% | 0.84% |
| 2 | U.S. Bank, National Association | 331 | $40.1M | $121K | 9.00% | 4.60% |
| 3 | TD Bank, National Association | 286 | $36.3M | $127K | 10.35% | 6.33% |
| 4 | JPMorgan Chase Bank, National Association | 223 | $56.7M | $254K | 9.88% | 2.86% |
| 5 | Manufacturers and Traders Trust Company | 148 | $21.9M | $148K | 10.12% | 6.33% |
| 6 | Northeast Bank | 143 | $24.1M | $168K | 10.92% | 40.00% |
| 7 | BayFirst National Bank | 132 | $20.7M | $157K | 11.40% | 5.36% |
| 8 | Wells Fargo Bank National Association | 126 | $24.3M | $193K | 10.77% | 0.00% |
| 9 | Newtek Bank, National Association | 88 | $45.2M | $513K | 11.33% | 0.00% |
| 10 | Readycap Lending, LLC | 85 | $26.7M | $314K | 11.77% | 0.00% |
| 11 | United Midwest Savings Bank National Association | 75 | $18.5M | $247K | 9.25% | 7.69% |
| 12 | Bank of America, National Association | 66 | $22.2M | $336K | 7.12% | 0.00% |
| 13 | PNC Bank, National Association | 64 | $7.6M | $119K | 10.24% | 0.00% |
| 14 | Cadence Bank | 53 | $19.2M | $362K | 9.46% | 0.00% |
| 15 | Newtek Small Business Finance, Inc. | 52 | $34.5M | $663K | 8.73% | 1.92% |
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Methodology
Computed from the SBA 7(a) FOIA dataset (as of 2025-12-31), filtered to NAICS code 238210. Charge-off rates are calculated on the FY2020–FY2023 cohort only.