Best SBA 7(a) lenders for industrial machinery and equipment merchant wholesalers
NAICS 423830 — Industrial Machinery and Equipment Merchant Wholesalers.
517 7(a) loans approved in this industry between FY2020 and 2025-12-31, totaling $402.6M.
Loans
517
Total $
$402.6M
Avg loan
$779K
Avg rate
8.31%
Avg term
127 mo
Industry chg-off rate
0.95%
FY20–FY23 cohort
Top 15 lenders in this industry
| # | Lender | Loans | Total $ | Avg loan | Avg rate | Chg-off % |
|---|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 35 | $20.1M | $575K | 7.39% | 0.00% |
| 2 | TD Bank, National Association | 27 | $6.9M | $255K | 9.23% | 0.00% |
| 3 | JPMorgan Chase Bank, National Association | 23 | $8.3M | $359K | 9.75% | 0.00% |
| 4 | Live Oak Banking Company | 22 | $36.7M | $1.7M | 7.90% | 0.00% |
| 5 | Wells Fargo Bank National Association | 22 | $12.8M | $581K | 8.55% | 0.00% |
| 6 | U.S. Bank, National Association | 21 | $12.9M | $615K | 8.17% | 0.00% |
| 7 | Bank of America, National Association | 21 | $12.6M | $602K | 7.92% | 0.00% |
| 8 | BayFirst National Bank | 18 | $2.9M | $163K | 11.26% | 9.09% |
| 9 | Newtek Small Business Finance, Inc. | 12 | $14.2M | $1.2M | 7.56% | 0.00% |
| 10 | Manufacturers and Traders Trust Company | 11 | $958K | $87K | 9.68% | 0.00% |
| 11 | Northeast Bank | 11 | $3.2M | $288K | 10.68% | 0.00% |
| 12 | PNC Bank, National Association | 11 | $5.5M | $501K | 8.05% | 12.50% |
| 13 | Enterprise Bank & Trust | 10 | $8.7M | $867K | 5.97% | 0.00% |
| 14 | Newtek Bank, National Association | 10 | $5.8M | $578K | 11.47% | 0.00% |
| 15 | Byline Bank | 9 | $11.9M | $1.3M | 7.83% | 0.00% |
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Methodology
Computed from the SBA 7(a) FOIA dataset (as of 2025-12-31), filtered to NAICS code 423830. Charge-off rates are calculated on the FY2020–FY2023 cohort only.