Best SBA 7(a) lenders for cosmetology and barber schools
NAICS 611511 — Cosmetology and Barber Schools.
166 7(a) loans approved in this industry between FY2020 and 2025-12-31, totaling $98.6M.
Loans
166
Total $
$98.6M
Avg loan
$594K
Avg rate
8.72%
Avg term
153 mo
Industry chg-off rate
3.19%
FY20–FY23 cohort
Top 15 lenders in this industry
| # | Lender | Loans | Total $ | Avg loan | Avg rate | Chg-off % |
|---|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 18 | $2.1M | $115K | 9.89% | 0.00% |
| 2 | Readycap Lending, LLC | 11 | $7.2M | $654K | 10.73% | 0.00% |
| 3 | Webster Bank National Association | 6 | $894K | $149K | 6.54% | 0.00% |
| 4 | Newtek Bank, National Association | 5 | $2.2M | $445K | 11.00% | — |
| 5 | CDC Small Business Finance Corp. | 5 | $593K | $119K | 9.55% | 0.00% |
| 6 | JPMorgan Chase Bank, National Association | 4 | $395K | $99K | 11.70% | 66.67% |
| 7 | Manufacturers and Traders Trust Company | 3 | $240K | $80K | 12.67% | — |
| 8 | Live Oak Banking Company | 3 | $3.4M | $1.1M | 9.83% | — |
| 9 | Enterprise Bank & Trust | 3 | $6.0M | $2.0M | 6.58% | 0.00% |
| 10 | CalPrivate Bank | 3 | $4.1M | $1.4M | 8.33% | 0.00% |
| 11 | Cadence Bank | 3 | $1.0M | $342K | 5.33% | 0.00% |
| 12 | Byline Bank | 3 | $2.8M | $938K | 11.17% | 0.00% |
| 13 | Newtek Small Business Finance, Inc. | 3 | $8.8M | $2.9M | 7.08% | 0.00% |
| 14 | TD Bank, National Association | 3 | $275K | $92K | 10.20% | 0.00% |
| 15 | Bank of America, National Association | 3 | $2.0M | $655K | 6.84% | 0.00% |
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Methodology
Computed from the SBA 7(a) FOIA dataset (as of 2025-12-31), filtered to NAICS code 611511. Charge-off rates are calculated on the FY2020–FY2023 cohort only.