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County5th of 16 in Maine by approvalsFIPS 23009
SBA loans in Hancock 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 93 loans to businesses in Hancock County, Maine, in FY2021 to FY2025, worth $33.6M: 79 under 7(a) and 14 under 504.
That is 38.8 approvals per 1,000 business establishments (2,397 establishments in 2023), below the Maine figure of 46.0 and close to the national 41.0.
It ranks 5th of 16 Maine counties with approvals. In FY2025 there were 19, down 24% on FY2024.
16 lenders had approvals here; the most active were Bar Harbor Bank & Trust (17), Granite State Economic Development Corporation (14) and Franklin Savings Bank (13). The most common industry was fishing.
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 Hancock County
By number of approvals to businesses in the county, FY2021–FY2025; 16 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Bar Harbor Bank & TrustBar Harbor, ME | 17 | $1.7M | 18.3% | |
| 2 | Granite State Economic Development CorporationPortsmouth, NH · CDC | 14 | $10.7M | 15.1% | |
| 3 | Franklin Savings BankFarmington, ME | 13 | $2.5M | 14.0% | |
| 4 | Machias Savings BankMachias, ME | 12 | $4.2M | 12.9% | |
| 5 | Bangor Savings BankBangor, ME | 9 | $2.4M | 9.7% | |
| 6 | Seaboard FCUBucksport, ME | 9 | $508K | 9.7% | |
| 7 | TD Bank, National AssociationWilmington, DE | 5 | $138K | 5.4% | |
| 8 | KeyBank National AssociationCleveland, OH | 3 | $85K | 3.2% | |
| 9 | Live Oak Banking CompanyWilmington, NC | 2 | — | 2.2% | |
| 10 | Readycap Lending, LLCBerkeley Heights, NJ | 2 | — | 2.2% | |
| 11 | First Bank of the LakeOsage Beach, MO | 2 | — | 2.2% | |
| 12 | Katahdin Trust CompanyPatten, ME | 1 | — | 1.1% | |
| 13 | TowneBankPortsmouth, VA | 1 | — | 1.1% | |
| 14 | Northeast BankLewiston, ME | 1 | — | 1.1% | |
| 15 | Newtek Bank, National AssociationMiami, FL | 1 | — | 1.1% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | FishingNAICS 1141 | 11 | 11.8% | |
| 2 | Restaurants and Other Eating PlacesNAICS 7225 | 9 | 9.7% | |
| 3 | Services to Buildings and DwellingsNAICS 5617 | 9 | 9.7% | |
| 4 | RV (Recreational Vehicle) Parks and Recreational CampsNAICS 7212 | 7 | 7.5% | |
| 5 | Traveler AccommodationNAICS 7211 | 5 | 5.4% | |
| 6 | Lessors of Real EstateNAICS 5311 | 4 | 4.3% | |
| 7 | Drycleaning and Laundry ServicesNAICS 8123 | 4 | 4.3% | |
| 8 | Building Equipment ContractorsNAICS 2382 | 3 | 3.2% | |
| 9 | Grocery and Related Product Merchant WholesalersNAICS 4244 | 3 | 3.2% | |
| 10 | Consumer Goods RentalNAICS 5322 | 3 | 3.2% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 22 | 23.7% | |
| 2 | Agriculture, Forestry, Fishing and Hunting | 11 | 11.8% | |
| 3 | Administrative and Support and Waste Management and Remediation Services | 11 | 11.8% | |
| 4 | Real Estate and Rental and Leasing | 7 | 7.5% | |
| 5 | Health Care and Social Assistance | 7 | 7.5% | |
| 6 | Other Services (except Public Administration) | 7 | 7.5% | |
| 7 | Manufacturing | 5 | 5.4% | |
| 8 | Retail Trade | 5 | 5.4% |
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 | $800K | $238K | 0 | — | 4 | 20 |
| FY2025 | 18 | $9.0M | $100K | 1 | — | 19 | 140 |
| FY2024 | 21 | $4.9M | $112K | 4 | $1.8M | 25 | 140 |
| FY2023 | 13 | $3.6M | $50K | 5 | $5.8M | 18 | 98 |
| FY2022 | 10 | $3.1M | $107K | 3 | $1.3M | 13 | 64 |
| FY2021 | 17 | $2.4M | $115K | 1 | — | 18 | 80 |
| FY2020 | 12 | $2.0M | $102K | 2 | — | 14 | 60 |
| FY2019 | 6 | $975K | $110K | 2 | — | 8 | 50 |
| FY2018 | 12 | $1.1M | $72K | 5 | $1.9M | 17 | 125 |
| FY2017 | 15 | $1.2M | $57K | 4 | $1.2M | 19 | 111 |
| FY2016 | 14 | $1.3M | $66K | 4 | $1.0M | 18 | 95 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 76 approvals.
Against Maine and the country
| FY2021–FY2025 | Hancock County | Maine | United States |
|---|---|---|---|
| Approvals | 93 | 1,996 | 342,825 |
| Approvals per 1,000 establishments | 38.8 | 46.0 | 41.0 |
| Median 7(a) approval | $100K | $100K | $190K |
| Median 504 approval | $565K | $385K | $657K |
| Average approval | $362K | $327K | $573K |
| 504 share of approvals | 15.1% | 17.1% | 11.0% |
| Jobs supported per approval, as reported | 5.6 | 8.4 | 10.5 |
| Share of state approvals | 4.7% | 100.0% | — |
Approval sizes
- $50,000 or less29.0%27
- $50,001 to $150,00024.7%23
- $150,001 to $350,00021.5%20
- $350,001 to $1 million17.2%16
- $1 million to $2 million5.4%5
- Over $2 million2.2%2
Age of the businesses
- Existing, more than 2 years old59.1%55
- New business, 2 years or less15.1%14
- Startup, loan funds will open the business16.1%15
- Change of ownership9.7%9
Questions and answers
Which lenders make the most SBA loans in Hancock County?
By approvals in FY2021 to FY2025: Bar Harbor Bank & Trust (17), Granite State Economic Development Corporation (14), Franklin Savings Bank (13), Machias Savings Bank (12), Bangor Savings Bank (9). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Hancock County?
The median 7(a) approval was $100K and the median 504 approval $565K; the Maine 7(a) median was $100K.
Which industries get the most SBA loans in Hancock County?
Fishing (11); Restaurants and Other Eating Places (9); Services to Buildings and Dwellings (9); RV (Recreational Vehicle) Parks and Recreational Camps (7); Traveler Accommodation (5).
Is SBA lending in Hancock County rising?
Approvals in the three latest complete fiscal years total 62, against 45 in the three before: rising (+38%).
How does Hancock County compare with the rest of Maine?
38.8 approvals per 1,000 establishments against 46.0 statewide, and 93 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