Alaska SBA lending, from federal loan records
SBA Lenders Actively Funding Businesses in Alaska
Since FY2020, 68 lenders have funded 698 SBA loans worth $492M for businesses in Alaska. Borrowers reported 7,668 jobs supported by those loans. Below is who actually writes them, how big they run, and which Alaska businesses get funded.
Most active SBA lenders in Alaska
Ranked by loans funded for Alaska projects since FY2020, not by advertising budget. A lender headquartered elsewhere that funds heavily in Alaska beats a local name that rarely writes SBA loans.
| Lender | Program | AK loans since FY2020 | Since FY2025 | Median loan | Median rate |
|---|---|---|---|---|---|
| Evergreen Business Capital | 504 (CDC) | 118 | 27 | $521K | n/a |
| Northrim Bank | 7(a) | 89 | 2 | $250K | 6.25% |
| Alaska Growth Capital BIDCO, Inc. | 7(a) | 82 | 17 | $640K | 8.95% |
| KeyBank National Association | 7(a) | 78 | 27 | $150K | 9.99% |
| Wells Fargo Bank National Association | 7(a) | 76 | 13 | $18K | 9.25% |
| Live Oak Banking Company | 7(a) | 31 | 10 | $825K | 9.25% |
| Newtek Bank, National Association | 7(a) | 23 | 14 | $250K | 11.5% |
| First National Bank Alaska | 7(a) | 18 | 9 | $453K | 9.03% |
| Newtek Small Business Finance, Inc. | 7(a) | 16 | 0 | $864K | 6% |
| Readycap Lending, LLC | 7(a) | 15 | 7 | $230K | 10.25% |
| Northeast Bank | 7(a) | 15 | 6 | $50K | 11% |
| BayFirst National Bank | 7(a) | 11 | 0 | $150K | 10.75% |
| Celtic Bank Corporation | 7(a) | 9 | 6 | $150K | 10.25% |
| Enterprise Bank & Trust | 7(a) | 8 | 0 | $493K | 5.25% |
| Harborstone CU | 7(a) | 8 | 0 | $844K | 6.25% |
| HomeTrust Bank | 7(a) | 7 | 4 | $855K | 9.5% |
| Mt McKinley Bank | 7(a) | 6 | 0 | $73K | 9.5% |
| United Midwest Savings Bank National Association | 7(a) | 5 | 0 | $150K | 6% |
| First Bank of the Lake | 7(a) | 5 | 0 | $300K | 6.75% |
| Mountain Pacific Bank | 7(a) | 5 | 0 | $901K | 10.5% |
| Pathward National Association | 7(a) | 4 | 1 | $396K | 9.25% |
| First Internet Bank of Indiana | 7(a) | 4 | 2 | $1.8M | 10.5% |
| FDIC - Community Bank & Trust-West Georgia | 7(a) | 4 | 4 | $1.2M | 10.5% |
| Native American Bank, National Association | 7(a) | 3 | 0 | $110K | 8% |
| Lendistry SBLC, LLC | 7(a) | 3 | 3 | $158K | 12% |
504 loans are written by Certified Development Companies alongside a bank first mortgage. The 504 file reports no interest rate, so CDC rows show none.
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Start your funding profile →How big Alaska SBA loans run
Share of Alaska 7(a) loans by approval size, next to the national split. If your ask sits in a common band, it is the kind of loan lenders here fund every week.
| 7(a) loan size | AK | US |
|---|---|---|
| Under $150K | 31% | 40.4% |
| $150K to $500K | 30.7% | 31.9% |
| $500K to $1M | 17% | 12.9% |
| $1M and up | 21.3% | 14.9% |
Who gets funded in Alaska
Business age on Alaska 7(a) loans. 11% funded a change of ownership, against 11.1% nationally. Buying a business? See the acquisition lender shortlist. Starting one? See startup-friendly lenders.
| Business stage | AK | US |
|---|---|---|
| Established, more than 2 years | 48% | 55.2% |
| New, 2 years or less | 24.5% | 16.9% |
| Startup, loan opens the business | 16.5% | 16.8% |
| Change of ownership (buying a business) | 11% | 11.1% |
Industries Alaska SBA lenders fund most
Share of all Alaska SBA loans by industry, and how that compares with the national mix.
| Industry | AK loans | Share | Compared with US |
|---|---|---|---|
| Restaurants and hotels | 100 | 14.3% | in line with national |
| Retail | 90 | 12.9% | in line with national |
| Construction | 81 | 11.6% | in line with national |
| Healthcare | 75 | 10.7% | in line with national |
| Professional services | 61 | 8.7% | in line with national |
| Personal and repair services | 59 | 8.5% | in line with national |
| Business support services | 41 | 5.9% | in line with national |
| Manufacturing | 40 | 5.7% | 0.8x the national share |
The most common specific business types funded in Alaska: full-service restaurants (35), limited-service restaurants (19), general automotive repair (18), landscaping services (13), plumbing, heating, and air-conditioning contractors (13), hotels (except casino hotels) and motels (13).
Where in Alaska the loans go
| County | SBA loans since FY2020 | Share of state |
|---|---|---|
| Anchorage | 305 | 44% |
| Matanuska Susitna | 120 | 17% |
| Fairbanks North Star | 73 | 10% |
| Kenai Peninsula | 64 | 9% |
| Juneau | 29 | 4% |
| Kodiak Island | 14 | 2% |
| Sitka | 11 | 2% |
| Ketchikan Gateway | 10 | 1% |
7(a) or 504 in Alaska
17% of Alaska SBA loans are 504 loans, against 12% nationally. A 504 loan funds owner-occupied real estate or major equipment, with a median of $520K here. A 7(a) loan covers almost anything else, including working capital and buying a business. The busiest 504 lenders in Alaska:
- Evergreen Business Capital: 118 504 loans, median $521K
Alaska SBA lending by year
| Fiscal year | 7(a) loans | 504 loans | Dollars |
|---|---|---|---|
| FY2020 | 63 | 9 | $31M |
| FY2021 | 100 | 17 | $99M |
| FY2022 | 76 | 25 | $77M |
| FY2023 | 95 | 28 | $78M |
| FY2024 | 101 | 15 | $85M |
| FY2025 | 86 | 12 | $67M |
| FY2026 (through June 30, 2026) | 56 | 15 | $55M |
The SBA fiscal year runs October through September.
Common questions
Who is the most active SBA lender in Alaska?
By funded loans since FY2020, Evergreen Business Capital leads Alaska with 118 loans through the 504 program. The most active 7(a) lender is Northrim Bank, with 89.
How big is a typical SBA loan in Alaska?
The median 7(a) loan in Alaska is $305K, and the middle half runs from $100K to $823K. The median 504 loan is $520K. Nationally the 7(a) median is $200K.
What interest rate do Alaska SBA borrowers get?
The median starting rate on Alaska 7(a) loans since FY2020 is 9%, against 9.25% nationally. 87% of those loans carry a variable rate, which moves with the prime rate.
Can a startup get an SBA loan in Alaska?
Yes. 41% of Alaska 7(a) loans with a reported business age went to startups or businesses two years old or younger, against 34% nationally. Lenders still expect a solid plan, owner equity and usually collateral.
Sources and limits. Derived from U.S. Small Business Administration 7(a) and 504 FOIA loan-level records, FY2020 through June 30, 2026, for projects located in Alaska. Cancelled approvals are excluded. Jobs supported are as reported by borrowers. Figures describe past lending activity only and are not offers, quotes, or qualification decisions. Big Brain Funding is not a lender and is not affiliated with any lender listed.