Best SBA 7(a) lenders for used car dealers
NAICS 441120 — Used Car Dealers.
1,356 7(a) loans approved in this industry between FY2020 and 2025-12-31, totaling $715.8M.
Loans
1,356
Total $
$715.8M
Avg loan
$528K
Avg rate
9.11%
Avg term
171 mo
Industry chg-off rate
4.94%
FY20–FY23 cohort
Top 15 lenders in this industry
| # | Lender | Loans | Total $ | Avg loan | Avg rate | Chg-off % |
|---|---|---|---|---|---|---|
| 1 | Northeast Bank | 152 | $32.9M | $217K | 10.91% | 20.00% |
| 2 | Wells Fargo Bank National Association | 145 | $10.9M | $75K | 11.01% | 14.02% |
| 3 | BayFirst National Bank | 94 | $17.4M | $185K | 11.97% | 12.50% |
| 4 | Newtek Bank, National Association | 70 | $28.2M | $403K | 11.31% | 0.00% |
| 5 | Newtek Small Business Finance, Inc. | 57 | $51.4M | $903K | 7.67% | 1.75% |
| 6 | Celtic Bank Corporation | 43 | $21.0M | $488K | 9.69% | 18.75% |
| 7 | Enterprise Bank & Trust | 42 | $49.0M | $1.2M | 6.31% | 0.00% |
| 8 | Manufacturers and Traders Trust Company | 41 | $1.6M | $40K | 11.00% | 17.39% |
| 9 | Harvest Small Business Finance, LLC | 35 | $29.7M | $847K | 8.75% | 0.00% |
| 10 | U.S. Bank, National Association | 28 | $27.1M | $967K | 5.75% | 0.00% |
| 11 | Comerica Bank | 25 | $5.7M | $228K | 7.75% | 0.00% |
| 12 | Mountain America FCU | 25 | $11.5M | $462K | 9.03% | 0.00% |
| 13 | Cadence Bank | 23 | $6.7M | $293K | 9.10% | 14.29% |
| 14 | Columbia Bank | 22 | $15.5M | $703K | 7.36% | 11.76% |
| 15 | KeyBank National Association | 19 | $5.3M | $281K | 9.92% | 0.00% |
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Methodology
Computed from the SBA 7(a) FOIA dataset (as of 2025-12-31), filtered to NAICS code 441120. Charge-off rates are calculated on the FY2020–FY2023 cohort only.