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County3rd of 5 in Rhode Island by approvalsFIPS 44005
SBA loans in Newport 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.
Businesses in Newport County, Rhode Island, received 168 SBA loan approvals worth $60.1M in FY2021 to FY2025 (126 7(a), 42 504).
That is 60.0 approvals per 1,000 business establishments (2,800 establishments in 2023), above the Rhode Island figure of 47.5 and above the national 41.0.
It ranks 3rd of 5 Rhode Island counties with approvals. In FY2025 there were 54, up 35% on FY2024.
35 lenders had approvals here; the most active were BankNewport (51), Ocean State Business Development Authority (32) and Webster Bank National Association (11). 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 Newport County
By number of approvals to businesses in the county, FY2021–FY2025; 35 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | BankNewportMiddletown, RI | 51 | $3.8M | 30.4% | |
| 2 | Ocean State Business Development AuthorityWarwick, RI · CDC | 32 | $15.1M | 19.0% | |
| 3 | Webster Bank National AssociationWaterbury, CT | 11 | $5.1M | 6.5% | |
| 4 | Baycoast BankSwansea, MA | 9 | $1.9M | 5.4% | |
| 5 | Bay Colony Development CorporationWaltham, MA · CDC | 8 | $4.3M | 4.8% | |
| 6 | Beacon Bank and TrustBrookline, MA | 6 | $1.3M | 3.6% | |
| 7 | Citizens Bank, National AssociationProvidence, RI | 5 | $6.6M | 3.0% | |
| 8 | Readycap Lending, LLCBerkeley Heights, NJ | 4 | $5.1M | 2.4% | |
| 9 | Community Investment CorporationHamden, CT | 4 | $578K | 2.4% | |
| 10 | TD Bank, National AssociationWilmington, DE | 4 | $115K | 2.4% | |
| 11 | Newtek Bank, National AssociationMiami, FL | 3 | $3.3M | 1.8% | |
| 12 | Newtek Small Business Finance, Inc.Lake Success, NY | 2 | — | 1.2% | |
| 13 | Bank of America, National AssociationCharlotte, NC | 2 | — | 1.2% | |
| 14 | First Bank of the LakeOsage Beach, MO | 2 | — | 1.2% | |
| 15 | Northeast BankLewiston, ME | 2 | — | 1.2% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 25 | 14.9% | |
| 2 | Other Specialty Trade ContractorsNAICS 2389 | 9 | 5.4% | |
| 3 | Services to Buildings and DwellingsNAICS 5617 | 9 | 5.4% | |
| 4 | Computer Systems Design and Related ServicesNAICS 5415 | 6 | 3.6% | |
| 5 | Specialized Design ServicesNAICS 5414 | 6 | 3.6% | |
| 6 | Offices of Other Health PractitionersNAICS 6213 | 6 | 3.6% | |
| 7 | Beer, Wine, and Liquor StoresNAICS 4453 | 5 | 3.0% | |
| 8 | Other Amusement and Recreation IndustriesNAICS 7139 | 5 | 3.0% | |
| 9 | Building Equipment ContractorsNAICS 2382 | 4 | 2.4% | |
| 10 | Printing and Related Support ActivitiesNAICS 3231 | 4 | 2.4% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 30 | 17.9% | |
| 2 | Professional, Scientific, and Technical Services | 25 | 14.9% | |
| 3 | Construction | 25 | 14.9% | |
| 4 | Retail Trade | 16 | 9.5% | |
| 5 | Administrative and Support and Waste Management and Remediation Services | 12 | 7.1% | |
| 6 | Health Care and Social Assistance | 11 | 6.5% | |
| 7 | Manufacturing | 10 | 6.0% | |
| 8 | Other Services (except Public Administration) | 10 | 6.0% |
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* | 20 | $5.0M | $100K | 3 | $1.1M | 23 | 56 |
| FY2025 | 52 | $13.2M | $100K | 2 | — | 54 | 205 |
| FY2024 | 32 | $10.5M | $100K | 8 | $3.1M | 40 | 150 |
| FY2023 | 15 | $5.7M | $178K | 7 | $4.9M | 22 | 281 |
| FY2022 | 12 | $3.6M | $157K | 14 | $4.9M | 26 | 118 |
| FY2021 | 15 | $6.8M | $200K | 11 | $6.1M | 26 | 153 |
| FY2020 | 9 | $1.5M | $160K | 11 | $11.2M | 20 | 128 |
| FY2019 | 15 | $11.2M | $104K | 12 | $3.1M | 27 | 211 |
| FY2018 | 23 | $3.2M | $100K | 14 | $4.8M | 37 | 275 |
| FY2017 | 28 | $6.5M | $100K | 5 | $2.5M | 33 | 286 |
| FY2016 | 31 | $4.1M | $50K | 9 | $4.0M | 40 | 285 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 157 approvals.
Against Rhode Island and the country
| FY2021–FY2025 | Newport County | Rhode Island | United States |
|---|---|---|---|
| Approvals | 168 | 1,402 | 342,825 |
| Approvals per 1,000 establishments | 60.0 | 47.5 | 41.0 |
| Median 7(a) approval | $100K | $150K | $190K |
| Median 504 approval | $367K | $366K | $657K |
| Average approval | $358K | $406K | $573K |
| 504 share of approvals | 25.0% | 20.0% | 11.0% |
| Jobs supported per approval, as reported | 5.4 | 8.2 | 10.5 |
| Share of state approvals | 12.0% | 100.0% | — |
Approval sizes
- $50,000 or less22.6%38
- $50,001 to $150,00029.2%49
- $150,001 to $350,00020.2%34
- $350,001 to $1 million20.8%35
- $1 million to $2 million5.4%9
- Over $2 million1.8%3
Age of the businesses
- Existing, more than 2 years old72.0%121
- New business, 2 years or less12.5%21
- Startup, loan funds will open the business9.5%16
- Change of ownership5.4%9
- Not answered0.6%1
Questions and answers
Which lenders make the most SBA loans in Newport County?
By approvals in FY2021 to FY2025: BankNewport (51), Ocean State Business Development Authority (32), Webster Bank National Association (11), Baycoast Bank (9), Bay Colony Development Corporation (8). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Newport County?
The median 7(a) approval was $100K and the median 504 approval $367K; the Rhode Island 7(a) median was $150K.
Which industries get the most SBA loans in Newport County?
Restaurants and Other Eating Places (25); Other Specialty Trade Contractors (9); Services to Buildings and Dwellings (9); Computer Systems Design and Related Services (6); Specialized Design Services (6).
Is SBA lending in Newport County rising?
Approvals in the three latest complete fiscal years total 116, against 72 in the three before: rising (+61%).
How does Newport County compare with the rest of Rhode Island?
60.0 approvals per 1,000 establishments against 47.5 statewide, and 168 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