Best SBA 7(a) lenders for barber shops
NAICS 812111 — Barber Shops.
877 7(a) loans approved in this industry between FY2020 and 2025-12-31, totaling $152.1M.
Loans
877
Total $
$152.1M
Avg loan
$173K
Avg rate
9.58%
Avg term
119 mo
Industry chg-off rate
3.07%
FY20–FY23 cohort
Top 15 lenders in this industry
| # | Lender | Loans | Total $ | Avg loan | Avg rate | Chg-off % |
|---|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 125 | $19.3M | $155K | 8.97% | 1.61% |
| 2 | U.S. Bank, National Association | 93 | $4.6M | $50K | 9.38% | 10.26% |
| 3 | TD Bank, National Association | 73 | $2.1M | $29K | 11.66% | 0.00% |
| 4 | Wells Fargo Bank National Association | 43 | $4.9M | $115K | 10.14% | 9.68% |
| 5 | Northeast Bank | 40 | $3.0M | $74K | 11.24% | 0.00% |
| 6 | KeyBank National Association | 33 | $6.3M | $190K | 8.78% | 0.00% |
| 7 | Manufacturers and Traders Trust Company | 33 | $1.9M | $58K | 10.84% | 11.11% |
| 8 | Readycap Lending, LLC | 25 | $2.5M | $98K | 14.00% | 0.00% |
| 9 | Live Oak Banking Company | 18 | $20.0M | $1.1M | 7.35% | 0.00% |
| 10 | Newtek Bank, National Association | 16 | $1.4M | $86K | 12.66% | 0.00% |
| 11 | BayFirst National Bank | 15 | $2.0M | $135K | 11.78% | 0.00% |
| 12 | Newtek Small Business Finance, Inc. | 13 | $2.0M | $151K | 8.37% | 0.00% |
| 13 | Cadence Bank | 12 | $3.5M | $288K | 8.48% | 10.00% |
| 14 | Eastern Bank | 12 | $1.1M | $88K | 8.58% | 0.00% |
| 15 | Celtic Bank Corporation | 12 | $737K | $61K | 10.75% | 0.00% |
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Methodology
Computed from the SBA 7(a) FOIA dataset (as of 2025-12-31), filtered to NAICS code 812111. Charge-off rates are calculated on the FY2020–FY2023 cohort only.