Best SBA 7(a) lenders for payroll services
NAICS 541214 — Payroll Services.
84 7(a) loans approved in this industry between FY2020 and 2025-12-31, totaling $42.2M.
Loans
84
Total $
$42.2M
Avg loan
$503K
Avg rate
9.15%
Avg term
122 mo
Industry chg-off rate
0.00%
FY20–FY23 cohort
Top 15 lenders in this industry
| # | Lender | Loans | Total $ | Avg loan | Avg rate | Chg-off % |
|---|---|---|---|---|---|---|
| 1 | Readycap Lending, LLC | 6 | $1.1M | $181K | 11.00% | 0.00% |
| 2 | United Midwest Savings Bank National Association | 6 | $800K | $133K | 8.00% | 0.00% |
| 3 | The Huntington National Bank | 6 | $405K | $68K | 9.58% | 0.00% |
| 4 | Northeast Bank | 4 | $800K | $200K | 10.88% | — |
| 5 | Cadence Bank | 4 | $995K | $249K | 9.56% | 0.00% |
| 6 | TD Bank, National Association | 4 | $700K | $175K | 10.10% | 0.00% |
| 7 | Manufacturers and Traders Trust Company | 3 | $403K | $134K | 11.17% | 0.00% |
| 8 | Live Oak Banking Company | 3 | $7.6M | $2.5M | 7.92% | 0.00% |
| 9 | Simmons Bank | 3 | $2.5M | $818K | 8.33% | 0.00% |
| 10 | BayFirst National Bank | 3 | $522K | $174K | 10.17% | 0.00% |
| 11 | U.S. Bank, National Association | 3 | $350K | $117K | 5.58% | 0.00% |
| 12 | Lendistry SBLC, LLC | 2 | $403K | $201K | 12.13% | — |
| 13 | Newtek Small Business Finance, Inc. | 2 | $2.4M | $1.2M | 8.25% | 0.00% |
| 14 | Colony Bank | 2 | $300K | $150K | 11.50% | — |
| 15 | Evolve Bank and Trust | 2 | $1.4M | $718K | 8.63% | 0.00% |
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Methodology
Computed from the SBA 7(a) FOIA dataset (as of 2025-12-31), filtered to NAICS code 541214. Charge-off rates are calculated on the FY2020–FY2023 cohort only.