States › Maine › Aroostook County
County7th of 16 in Maine by approvalsFIPS 23003
SBA loans in Aroostook County, Maine
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.
SBA approved 78 loans to businesses in Aroostook County, Maine, in FY2021 to FY2025, worth $20.1M: 76 under 7(a) and 2 under 504.
That is 41.0 approvals per 1,000 business establishments (1,903 establishments in 2023), close to the Maine figure of 46.0 and close to the national 41.0.
It ranks 7th of 16 Maine counties with approvals. In FY2025 there were 13, down 24% on FY2024.
17 lenders had approvals here; the most active were Katahdin Trust Company (28), TD Bank, National Association (13) and Acadia FCU (10). The most common industry was logging.
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 Aroostook County
By number of approvals to businesses in the county, FY2021–FY2025; 17 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Katahdin Trust CompanyPatten, ME | 28 | $6.9M | 35.9% | |
| 2 | TD Bank, National AssociationWilmington, DE | 13 | $393K | 16.7% | |
| 3 | Acadia FCUFort Kent, ME | 10 | $1.5M | 12.8% | |
| 4 | KeyBank National AssociationCleveland, OH | 7 | $259K | 9.0% | |
| 5 | Bangor Savings BankBangor, ME | 4 | $367K | 5.1% | |
| 6 | BayFirst National BankSaint Petersburg, FL | 3 | $290K | 3.8% | |
| 7 | Colony BankFitzgerald, GA | 2 | — | 2.6% | |
| 8 | Readycap Lending, LLCBerkeley Heights, NJ | 2 | — | 2.6% | |
| 9 | Machias Savings BankMachias, ME | 1 | — | 1.3% | |
| 10 | Live Oak Banking CompanyWilmington, NC | 1 | — | 1.3% | |
| 11 | First BankSouthern Pines, NC | 1 | — | 1.3% | |
| 12 | Eastern Maine Development CorporationBangor, ME · CDC | 1 | — | 1.3% | |
| 13 | Citizens BankElizabethton, TN | 1 | — | 1.3% | |
| 14 | Empeople Credit UnionMoline, IL | 1 | — | 1.3% | |
| 15 | Granite State Economic Development CorporationPortsmouth, NH · CDC | 1 | — | 1.3% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | LoggingNAICS 1133 | 17 | 21.8% | |
| 2 | Services to Buildings and DwellingsNAICS 5617 | 7 | 9.0% | |
| 3 | Restaurants and Other Eating PlacesNAICS 7225 | 4 | 5.1% | |
| 4 | Grocery StoresNAICS 4451 | 3 | 3.8% | |
| 5 | Waste CollectionNAICS 5621 | 3 | 3.8% | |
| 6 | Building Finishing ContractorsNAICS 2383 | 3 | 3.8% | |
| 7 | Specialized Freight TruckingNAICS 4842 | 2 | 2.6% | |
| 8 | Offices of DentistsNAICS 6212 | 2 | 2.6% | |
| 9 | Automotive Repair and MaintenanceNAICS 8111 | 2 | 2.6% | |
| 10 | General Freight TruckingNAICS 4841 | 2 | 2.6% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Agriculture, Forestry, Fishing and Hunting | 18 | 23.1% | |
| 2 | Administrative and Support and Waste Management and Remediation Services | 10 | 12.8% | |
| 3 | Retail Trade | 9 | 11.5% | |
| 4 | Accommodation and Food Services | 9 | 11.5% | |
| 5 | Manufacturing | 7 | 9.0% | |
| 6 | Health Care and Social Assistance | 6 | 7.7% | |
| 7 | Construction | 6 | 7.7% | |
| 8 | Transportation and Warehousing | 5 | 6.4% |
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* | 4 | $340K | $63K | 0 | — | 4 | 8 |
| FY2025 | 13 | $2.6M | $68K | 0 | — | 13 | 44 |
| FY2024 | 17 | $7.4M | $150K | 0 | — | 17 | 172 |
| FY2023 | 11 | $651K | $75K | 0 | — | 11 | 54 |
| FY2022 | 14 | $2.2M | $76K | 1 | — | 15 | 66 |
| FY2021 | 21 | $6.2M | $104K | 1 | — | 22 | 235 |
| FY2020 | 12 | $5.3M | $350K | 0 | — | 12 | 70 |
| FY2019 | 8 | $1.9M | $33K | 0 | — | 8 | 65 |
| FY2018 | 19 | $2.1M | $65K | 0 | — | 19 | 64 |
| FY2017 | 13 | $3.4M | $66K | 0 | — | 13 | 61 |
| FY2016 | 18 | $1.5M | $44K | 0 | — | 18 | 113 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 70 approvals.
Against Maine and the country
| FY2021–FY2025 | Aroostook County | Maine | United States |
|---|---|---|---|
| Approvals | 78 | 1,996 | 342,825 |
| Approvals per 1,000 establishments | 41.0 | 46.0 | 41.0 |
| Median 7(a) approval | $83K | $100K | $190K |
| Median 504 approval | — | $385K | $657K |
| Average approval | $257K | $327K | $573K |
| 504 share of approvals | 2.6% | 17.1% | 11.0% |
| Jobs supported per approval, as reported | 7.3 | 8.4 | 10.5 |
| Share of state approvals | 3.9% | 100.0% | — |
Approval sizes
- $50,000 or less38.5%30
- $50,001 to $150,00026.9%21
- $150,001 to $350,00020.5%16
- $350,001 to $1 million7.7%6
- $1 million to $2 million5.1%4
- Over $2 million1.3%1
Age of the businesses
- Existing, more than 2 years old42.3%33
- New business, 2 years or less33.3%26
- Startup, loan funds will open the business23.1%18
- Change of ownership1.3%1
Questions and answers
Which lenders make the most SBA loans in Aroostook County?
By approvals in FY2021 to FY2025: Katahdin Trust Company (28), TD Bank, National Association (13), Acadia FCU (10), KeyBank National Association (7), Bangor Savings Bank (4). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Aroostook County?
The median 7(a) approval was $83K; the Maine 7(a) median was $100K.
Which industries get the most SBA loans in Aroostook County?
Logging (17); Services to Buildings and Dwellings (7); Restaurants and Other Eating Places (4); Grocery Stores (3); Waste Collection (3).
Is SBA lending in Aroostook County rising?
Approvals in the three latest complete fiscal years total 41, against 49 in the three before: falling (-16%).
How does Aroostook County compare with the rest of Maine?
41.0 approvals per 1,000 establishments against 46.0 statewide, and 78 of the state's 1,996 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