Is U.S. Bank a good match for your SBA loan?
U.S. Bank’s project state SBA 7(a) loan approvals in 2020.
U.S. Bank Highlights
In 2020 U.S. Bank is ranked #2 for SBA 7(a) loan approvals and ranks #9 in SBA 7(a) approval amounts. For franchise business loans in 2020 U.S. Bank ranked #24 for SBA 7(a) loan approvals.
All-time U.S. Bank has approved 68,680 SBA 7(a) loans for $13.6 billion. U.S. Bank approved borrowers from 4,511 cities, for projects in 48 states, in 1,125 industries, and for 867 franchise brands.
In 2020 U.S. Bank approved 2,405 SBA 7(a) loans for $304,299,400. The average loan approval amount was $126,528. U.S. Bank approved borrowers from 928 cities, for projects in 30 states, in 355 industries, and for 30 franchise brands.
For franchise branded businesses, U.S. Bank approved 41 loans for $13,380,100 with an average loan amount of $326,344.
U.S. Bank’s SBA loan approvals in 2020 represent 10,282 small business jobs supported or saved.
Our forecast model projects U.S. Bank approving $277 million for SBA 7(a) loans in 2021.
Read our SBA Lender page on U.S. Bank for their full report, but below are a few highlights:
U.S. Bank Historical SBA 7(a) Lending
U.S. Bank Loan Approvals
2020 Top 25 Business Industries
U.S. Bank approved the most loans for the General Freight Trucking (Local) industry followed by Residential Remodelers, Full-Service Restaurants, General Freight Trucking (Long Distance), and Specialty Trade Contractors. U.S. Bank approved SBA loans for 355 different industries in 2020.
U.S. Bank 2020 SBA 7(a) Loan Amounts
U.S. Bank’s average SBA loan approval amount in 2020 was $126,528.
85.82% of approved loans in 2020 were for loan amounts up to $150,000.
92.02% of approved loans in 2020 were for loan amounts up to $350,000.
5.2% of approved loans in 2020 were for loan amounts from $350,001 to $1 million.
2.78% of approved loans in 2020 were for loan amounts over $1 million.
0.7% of loan approvals were for multi-million loan amounts.
U.S. Bank is the #2 Ranked National SBA Lender
For 2020 U.S. Bank ranks #10 in number of loan approvals and #2 for approval amounts.
In 2020 U.S. Bank approved 2,405 SBA 7(a) loans for $304,299,400.
U.S. Bank’s average loan approval amount was $126,528.
In 2020 U.S. Bank approved borrowers from 928 cities, for projects in 30 states, in 355 industries, and for 30 franchise brands.
See our full (and free) SBA report on U.S. Bank
This report has about everything a small business owner would want to know to determine if U.S. Bank would be a good match for an SBA loan. See how U.S. Bank ranks in multiple SBA loan categories, our SBA lending forecasts for U.S. Bank, the top 25 industries and franchise brands U.S. Bank approved loans with, and the top project states and borrower cities.
