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County3rd of 14 in Massachusetts by approvalsFIPS 25027
SBA loans in Worcester County, Massachusetts
7(a) and 504 approvals to businesses located in the county, set against the number of businesses there and against the state.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
Businesses in Worcester County, Massachusetts, received 992 SBA loan approvals worth $425M in FY2021 to FY2025 (815 7(a), 177 504).
That is 51.7 approvals per 1,000 business establishments (19,181 establishments in 2023), close to the Massachusetts figure of 48.8 and above the national 41.0.
It ranks 3rd of 14 Massachusetts counties with approvals. In FY2025 there were 241, about level with FY2024.
106 lenders had approvals here; the most active were TD Bank, National Association (123), Webster Five Cents Savings Bank (64) and St. Mary's CU (63). The most common industry was restaurants and other eating places.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Data through 30 Jun 2026.
Lenders most active in Worcester County
By number of approvals to businesses in the county, FY2021–FY2025; 106 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | TD Bank, National AssociationWilmington, DE | 123 | $24.8M | 12.4% | |
| 2 | Webster Five Cents Savings BankWebster, MA | 64 | $11.5M | 6.5% | |
| 3 | St. Mary's CUMarlborough, MA | 63 | $6.1M | 6.4% | |
| 4 | Bay Colony Development CorporationWaltham, MA · CDC | 61 | $35.8M | 6.1% | |
| 5 | Worcester Business Development CorporationWorcester, MA · CDC | 52 | $30.1M | 5.2% | |
| 6 | Granite State Economic Development CorporationPortsmouth, NH · CDC | 43 | $39.9M | 4.3% | |
| 7 | UniBank for SavingsWhitinsville, MA | 43 | $2.9M | 4.3% | |
| 8 | Needham BankNeedham, MA | 35 | $8.3M | 3.5% | |
| 9 | Rockland Trust CompanyRockland, MA | 30 | $16.4M | 3.0% | |
| 10 | Eastern BankBoston, MA | 27 | $6.1M | 2.7% | |
| 11 | Manufacturers and Traders Trust CompanyBuffalo, NY | 26 | $7.5M | 2.6% | |
| 12 | BayFirst National BankSaint Petersburg, FL | 23 | $3.1M | 2.3% | |
| 13 | Avidia BankHudson, MA | 22 | $10.3M | 2.2% | |
| 14 | Northeast BankLewiston, ME | 22 | $2.9M | 2.2% | |
| 15 | Beacon Bank and TrustBrookline, MA | 20 | $28.9M | 2.0% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 70 | 7.1% | |
| 2 | Building Equipment ContractorsNAICS 2382 | 55 | 5.5% | |
| 3 | Services to Buildings and DwellingsNAICS 5617 | 53 | 5.3% | |
| 4 | Residential Building ConstructionNAICS 2361 | 38 | 3.8% | |
| 5 | Automotive Repair and MaintenanceNAICS 8111 | 37 | 3.7% | |
| 6 | Other Amusement and Recreation IndustriesNAICS 7139 | 33 | 3.3% | |
| 7 | Offices of Other Health PractitionersNAICS 6213 | 31 | 3.1% | |
| 8 | Personal Care ServicesNAICS 8121 | 31 | 3.1% | |
| 9 | Other Specialty Trade ContractorsNAICS 2389 | 30 | 3.0% | |
| 10 | Building Finishing ContractorsNAICS 2383 | 29 | 2.9% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 191 | 19.3% | |
| 2 | Health Care and Social Assistance | 107 | 10.8% | |
| 3 | Accommodation and Food Services | 91 | 9.2% | |
| 4 | Other Services (except Public Administration) | 90 | 9.1% | |
| 5 | Professional, Scientific, and Technical Services | 85 | 8.6% | |
| 6 | Administrative and Support and Waste Management and Remediation Services | 82 | 8.3% | |
| 7 | Retail Trade | 81 | 8.2% | |
| 8 | Manufacturing | 73 | 7.4% |
Approvals by fiscal year
| Fiscal year | 7(a) approvals | 7(a) dollars | Median 7(a) | 504 approvals | 504 dollars | All approvals | Jobs supported, as reported |
|---|---|---|---|---|---|---|---|
| FY2026* | 116 | $42.0M | $100K | 15 | $9.9M | 131 | 945 |
| FY2025 | 203 | $76.6M | $145K | 38 | $32.5M | 241 | 2,049 |
| FY2024 | 212 | $71.0M | $100K | 33 | $22.8M | 245 | 1,650 |
| FY2023 | 188 | $60.7M | $99K | 23 | $18.4M | 211 | 2,303 |
| FY2022 | 116 | $49.6M | $135K | 52 | $32.1M | 168 | 1,697 |
| FY2021 | 96 | $44.2M | $150K | 31 | $16.9M | 127 | 1,346 |
| FY2020 | 94 | $26.5M | $75K | 32 | $16.5M | 126 | 907 |
| FY2019 | 174 | $35.6M | $99K | 22 | $13.9M | 196 | 1,488 |
| FY2018 | 213 | $40.7M | $75K | 27 | $12.6M | 240 | 1,627 |
| FY2017 | 277 | $43.3M | $50K | 35 | $18.8M | 312 | 1,791 |
| FY2016 | 244 | $50.6M | $73K | 26 | $16.8M | 270 | 2,740 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 1,144 approvals.
Against Massachusetts and the country
| FY2021–FY2025 | Worcester County | Massachusetts | United States |
|---|---|---|---|
| Approvals | 992 | 8,965 | 342,825 |
| Approvals per 1,000 establishments | 51.7 | 48.8 | 41.0 |
| Median 7(a) approval | $100K | $100K | $190K |
| Median 504 approval | $399K | $455K | $657K |
| Average approval | $428K | $374K | $573K |
| 504 share of approvals | 17.8% | 15.0% | 11.0% |
| Jobs supported per approval, as reported | 9.1 | 9.1 | 10.5 |
| Share of state approvals | 11.1% | 100.0% | — |
Approval sizes
- $50,000 or less28.8%286
- $50,001 to $150,00024.8%246
- $150,001 to $350,00019.1%189
- $350,001 to $1 million16.0%159
- $1 million to $2 million6.4%63
- Over $2 million4.9%49
Age of the businesses
- Existing, more than 2 years old63.9%634
- New business, 2 years or less16.9%168
- Startup, loan funds will open the business10.3%102
- Change of ownership8.9%88
Questions and answers
Which lenders make the most SBA loans in Worcester County?
By approvals in FY2021 to FY2025: TD Bank, National Association (123), Webster Five Cents Savings Bank (64), St. Mary's CU (63), Bay Colony Development Corporation (61), Worcester Business Development Corporation (52). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Worcester County?
The median 7(a) approval was $100K and the median 504 approval $399K; the Massachusetts 7(a) median was $100K.
Which industries get the most SBA loans in Worcester County?
Restaurants and Other Eating Places (70); Building Equipment Contractors (55); Services to Buildings and Dwellings (53); Residential Building Construction (38); Automotive Repair and Maintenance (37).
Is SBA lending in Worcester County rising?
Approvals in the three latest complete fiscal years total 697, against 421 in the three before: rising (+66%).
How does Worcester County compare with the rest of Massachusetts?
51.7 approvals per 1,000 establishments against 48.8 statewide, and 992 of the state's 8,965 approvals.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Establishment counts are from the Census Bureau's County Business Patterns 2023, which leaves out most farms, government and businesses without employees. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error