County13th of 16 in Maine by approvalsFIPS 23027
SBA loans in Waldo 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 38 loans to businesses in Waldo County, Maine, in FY2021 to FY2025, worth $9.3M: 29 under 7(a) and 9 under 504.
That is 37.9 approvals per 1,000 business establishments (1,003 establishments in 2023), below the Maine figure of 46.0 and close to the national 41.0.
It ranks 13th of 16 Maine counties with approvals. In FY2025 there were 7.
11 lenders had approvals here; the most active were Bangor Savings Bank (9), Granite State Economic Development Corporation (8) and KeyBank National Association (6). The most common industry was traveler accommodation.
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 Waldo County
By number of approvals to businesses in the county, FY2021–FY2025; 11 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Bangor Savings BankBangor, ME | 9 | $1.4M | 23.7% | |
| 2 | Granite State Economic Development CorporationPortsmouth, NH · CDC | 8 | $4.6M | 21.1% | |
| 3 | KeyBank National AssociationCleveland, OH | 6 | $954K | 15.8% | |
| 4 | TD Bank, National AssociationWilmington, DE | 4 | $196K | 10.5% | |
| 5 | Machias Savings BankMachias, ME | 3 | $934K | 7.9% | |
| 6 | Katahdin Trust CompanyPatten, ME | 2 | — | 5.3% | |
| 7 | Readycap Lending, LLCBerkeley Heights, NJ | 2 | — | 5.3% | |
| 8 | Live Oak Banking CompanyWilmington, NC | 1 | — | 2.6% | |
| 9 | NBT Bank, National AssociationNorwich, NY | 1 | — | 2.6% | |
| 10 | Southern Maine Finance AgencyBiddeford, ME · CDC | 1 | — | 2.6% | |
| 11 | Bar Harbor Bank & TrustBar Harbor, ME | 1 | — | 2.6% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Traveler AccommodationNAICS 7211 | 4 | 10.5% | |
| 2 | Services to Buildings and DwellingsNAICS 5617 | 4 | 10.5% | |
| 3 | Restaurants and Other Eating PlacesNAICS 7225 | 3 | 7.9% | |
| 4 | Bakeries and Tortilla ManufacturingNAICS 3118 | 3 | 7.9% | |
| 5 | Beverage ManufacturingNAICS 3121 | 2 | 5.3% | |
| 6 | Architectural, Engineering, and Related ServicesNAICS 5413 | 2 | 5.3% | |
| 7 | Grocery StoresNAICS 4451 | 2 | 5.3% | |
| 8 | Other Wood Product ManufacturingNAICS 3219 | 2 | 5.3% | |
| 9 | RV (Recreational Vehicle) Parks and Recreational CampsNAICS 7212 | 1 | 2.6% | |
| 10 | Residential Building ConstructionNAICS 2361 | 1 | 2.6% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Manufacturing | 10 | 26.3% | |
| 2 | Accommodation and Food Services | 8 | 21.1% | |
| 3 | Administrative and Support and Waste Management and Remediation Services | 4 | 10.5% | |
| 4 | Professional, Scientific, and Technical Services | 3 | 7.9% | |
| 5 | Construction | 2 | 5.3% | |
| 6 | Other Services (except Public Administration) | 2 | 5.3% | |
| 7 | Retail Trade | 2 | 5.3% | |
| 8 | Agriculture, Forestry, Fishing and Hunting | 2 | 5.3% |
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 | $2.4M | $408K | 1 | — | 5 | 67 |
| FY2025 | 6 | $1.2M | $229K | 1 | — | 7 | 48 |
| FY2024 | 2 | — | — | 1 | — | 3 | 12 |
| FY2023 | 5 | $487K | $74K | 1 | — | 6 | 41 |
| FY2022 | 8 | $760K | $74K | 3 | $1.7M | 11 | 38 |
| FY2021 | 8 | $1.6M | $215K | 3 | $1.5M | 11 | 64 |
| FY2020 | 5 | $867K | $67K | 3 | $929K | 8 | 29 |
| FY2019 | 6 | $560K | $38K | 1 | — | 7 | 28 |
| FY2018 | 3 | $95K | $25K | 1 | — | 4 | 28 |
| FY2017 | 4 | $262K | $75K | 3 | $1.1M | 7 | 41 |
| FY2016 | 13 | $4.0M | $150K | 0 | — | 13 | 118 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 39 approvals.
Against Maine and the country
| FY2021–FY2025 | Waldo County | Maine | United States |
|---|---|---|---|
| Approvals | 38 | 1,996 | 342,825 |
| Approvals per 1,000 establishments | 37.9 | 46.0 | 41.0 |
| Median 7(a) approval | $116K | $100K | $190K |
| Median 504 approval | $349K | $385K | $657K |
| Average approval | $245K | $327K | $573K |
| 504 share of approvals | 23.7% | 17.1% | 11.0% |
| Jobs supported per approval, as reported | 5.3 | 8.4 | 10.5 |
| Share of state approvals | 1.9% | 100.0% | — |
Approval sizes
- $50,000 or less15.8%6
- $50,001 to $150,00028.9%11
- $150,001 to $350,00036.8%14
- $350,001 to $1 million13.2%5
- $1 million to $2 million5.3%2
Age of the businesses
- Existing, more than 2 years old44.7%17
- New business, 2 years or less15.8%6
- Startup, loan funds will open the business28.9%11
- Change of ownership10.5%4
Questions and answers
Which lenders make the most SBA loans in Waldo County?
By approvals in FY2021 to FY2025: Bangor Savings Bank (9), Granite State Economic Development Corporation (8), KeyBank National Association (6), TD Bank, National Association (4), Machias Savings Bank (3). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Waldo County?
The median 7(a) approval was $116K and the median 504 approval $349K; the Maine 7(a) median was $100K.
Which industries get the most SBA loans in Waldo County?
Traveler Accommodation (4); Services to Buildings and Dwellings (4); Restaurants and Other Eating Places (3); Bakeries and Tortilla Manufacturing (3); Beverage Manufacturing (2).
Is SBA lending in Waldo County rising?
Approvals in the three latest complete fiscal years total 16, against 30 in the three before: falling (-47%).
How does Waldo County compare with the rest of Maine?
37.9 approvals per 1,000 establishments against 46.0 statewide, and 38 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