States › Rhode Island › Kent County
County2nd of 5 in Rhode Island by approvalsFIPS 44003
SBA loans in Kent County, Rhode Island
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 256 loans to businesses in Kent County, Rhode Island, in FY2021 to FY2025, worth $121M: 199 under 7(a) and 57 under 504.
That is 54.0 approvals per 1,000 business establishments (4,739 establishments in 2023), close to the Rhode Island figure of 47.5 and above the national 41.0.
It ranks 2nd of 5 Rhode Island counties with approvals. In FY2025 there were 73, up 40% on FY2024.
42 lenders had approvals here; the most active were Beacon Bank and Trust (28), Eastern Bank (20) and Ocean State Business Development Authority (19). 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 Kent County
By number of approvals to businesses in the county, FY2021–FY2025; 42 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Beacon Bank and TrustBrookline, MA | 28 | $7.8M | 10.9% | |
| 2 | Eastern BankBoston, MA | 20 | $7.3M | 7.8% | |
| 3 | Ocean State Business Development AuthorityWarwick, RI · CDC | 19 | $9.0M | 7.4% | |
| 4 | Webster Bank National AssociationWaterbury, CT | 19 | $6.7M | 7.4% | |
| 5 | New England Certified Development CorporationWakefield, MA · CDC | 17 | $7.1M | 6.6% | |
| 6 | TD Bank, National AssociationWilmington, DE | 17 | $4.6M | 6.6% | |
| 7 | Bay Colony Development CorporationWaltham, MA · CDC | 14 | $9.4M | 5.5% | |
| 8 | Northeast BankLewiston, ME | 11 | $1.7M | 4.3% | |
| 9 | Navigant CUSmithfield, RI | 9 | $2.5M | 3.5% | |
| 10 | Citizens Bank, National AssociationProvidence, RI | 8 | $3.6M | 3.1% | |
| 11 | BankNewportMiddletown, RI | 7 | $390K | 2.7% | |
| 12 | Live Oak Banking CompanyWilmington, NC | 6 | $11.4M | 2.3% | |
| 13 | The Huntington National BankColumbus, OH | 6 | $1.5M | 2.3% | |
| 14 | BayFirst National BankSaint Petersburg, FL | 6 | $1.1M | 2.3% | |
| 15 | Bristol County Savings BankTaunton, MA | 6 | $1.1M | 2.3% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 21 | 8.2% | |
| 2 | Child Day Care ServicesNAICS 6244 | 12 | 4.7% | |
| 3 | Services to Buildings and DwellingsNAICS 5617 | 12 | 4.7% | |
| 4 | Automotive Repair and MaintenanceNAICS 8111 | 9 | 3.5% | |
| 5 | Building Equipment ContractorsNAICS 2382 | 9 | 3.5% | |
| 6 | Architectural, Engineering, and Related ServicesNAICS 5413 | 8 | 3.1% | |
| 7 | Personal Care ServicesNAICS 8121 | 7 | 2.7% | |
| 8 | Traveler AccommodationNAICS 7211 | 6 | 2.3% | |
| 9 | Furniture and Home Furnishings RetailersNAICS 4491 | 6 | 2.3% | |
| 10 | Building Finishing ContractorsNAICS 2383 | 6 | 2.3% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Health Care and Social Assistance | 37 | 14.5% | |
| 2 | Accommodation and Food Services | 34 | 13.3% | |
| 3 | Retail Trade | 33 | 12.9% | |
| 4 | Other Services (except Public Administration) | 25 | 9.8% | |
| 5 | Construction | 24 | 9.4% | |
| 6 | Professional, Scientific, and Technical Services | 22 | 8.6% | |
| 7 | Administrative and Support and Waste Management and Remediation Services | 16 | 6.3% | |
| 8 | Wholesale Trade | 15 | 5.9% |
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* | 23 | $9.6M | $60K | 7 | $3.7M | 30 | 175 |
| FY2025 | 62 | $27.9M | $172K | 11 | $7.3M | 73 | 728 |
| FY2024 | 46 | $18.0M | $118K | 6 | $1.7M | 52 | 428 |
| FY2023 | 39 | $14.9M | $150K | 8 | $2.9M | 47 | 470 |
| FY2022 | 18 | $4.7M | $175K | 15 | $9.8M | 33 | 244 |
| FY2021 | 34 | $27.3M | $310K | 17 | $6.7M | 51 | 472 |
| FY2020 | 41 | $15.8M | $150K | 9 | $2.6M | 50 | 522 |
| FY2019 | 53 | $9.9M | $78K | 13 | $6.1M | 66 | 361 |
| FY2018 | 64 | $12.2M | $80K | 9 | $3.2M | 73 | 438 |
| FY2017 | 72 | $12.7M | $68K | 9 | $6.0M | 81 | 443 |
| FY2016 | 82 | $12.2M | $93K | 7 | $4.4M | 89 | 597 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 359 approvals.
Against Rhode Island and the country
| FY2021–FY2025 | Kent County | Rhode Island | United States |
|---|---|---|---|
| Approvals | 256 | 1,402 | 342,825 |
| Approvals per 1,000 establishments | 54.0 | 47.5 | 41.0 |
| Median 7(a) approval | $200K | $150K | $190K |
| Median 504 approval | $340K | $366K | $657K |
| Average approval | $473K | $406K | $573K |
| 504 share of approvals | 22.3% | 20.0% | 11.0% |
| Jobs supported per approval, as reported | 9.1 | 8.2 | 10.5 |
| Share of state approvals | 18.3% | 100.0% | — |
Approval sizes
- $50,000 or less15.6%40
- $50,001 to $150,00024.6%63
- $150,001 to $350,00027.3%70
- $350,001 to $1 million23.0%59
- $1 million to $2 million4.3%11
- Over $2 million5.1%13
Age of the businesses
- Existing, more than 2 years old66.0%169
- New business, 2 years or less14.1%36
- Startup, loan funds will open the business10.9%28
- Change of ownership9.0%23
Questions and answers
Which lenders make the most SBA loans in Kent County?
By approvals in FY2021 to FY2025: Beacon Bank and Trust (28), Eastern Bank (20), Ocean State Business Development Authority (19), Webster Bank National Association (19), New England Certified Development Corporation (17). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Kent County?
The median 7(a) approval was $200K and the median 504 approval $340K; the Rhode Island 7(a) median was $150K.
Which industries get the most SBA loans in Kent County?
Restaurants and Other Eating Places (21); Child Day Care Services (12); Services to Buildings and Dwellings (12); Automotive Repair and Maintenance (9); Building Equipment Contractors (9).
Is SBA lending in Kent County rising?
Approvals in the three latest complete fiscal years total 172, against 134 in the three before: rising (+28%).
How does Kent County compare with the rest of Rhode Island?
54.0 approvals per 1,000 establishments against 47.5 statewide, and 256 of the state's 1,402 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