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SBA loans in Providence 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 Providence County, Rhode Island, received 750 SBA loan approvals worth $279M in FY2021 to FY2025 (625 7(a), 125 504).
That is 45.7 approvals per 1,000 business establishments (16,414 establishments in 2023), close to the Rhode Island figure of 47.5 and close to the national 41.0.
It ranks 1st of 5 Rhode Island counties with approvals. In FY2025 there were 186, up 13% on FY2024.
71 lenders had approvals here; the most active were TD Bank, National Association (93), Eastern Bank (79) and Ocean State Business Development Authority (50). 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 Providence County
By number of approvals to businesses in the county, FY2021–FY2025; 71 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | TD Bank, National AssociationWilmington, DE | 93 | $8.6M | 12.4% | |
| 2 | Eastern BankBoston, MA | 79 | $25.1M | 10.5% | |
| 3 | Ocean State Business Development AuthorityWarwick, RI · CDC | 50 | $29.1M | 6.7% | |
| 4 | Beacon Bank and TrustBrookline, MA | 48 | $12.6M | 6.4% | |
| 5 | Webster Bank National AssociationWaterbury, CT | 47 | $21.2M | 6.3% | |
| 6 | Bristol County Savings BankTaunton, MA | 45 | $19.0M | 6.0% | |
| 7 | Bay Colony Development CorporationWaltham, MA · CDC | 30 | $12.3M | 4.0% | |
| 8 | New England Certified Development CorporationWakefield, MA · CDC | 28 | $15.4M | 3.7% | |
| 9 | Navigant CUSmithfield, RI | 27 | $5.5M | 3.6% | |
| 10 | BankNewportMiddletown, RI | 25 | $1.7M | 3.3% | |
| 11 | Santander Bank, National AssociationWilmington, DE | 21 | $1.3M | 2.8% | |
| 12 | Citizens Bank, National AssociationProvidence, RI | 18 | $15.9M | 2.4% | |
| 13 | The Huntington National BankColumbus, OH | 17 | $3.7M | 2.3% | |
| 14 | Community Investment CorporationHamden, CT | 16 | $2.7M | 2.1% | |
| 15 | Bank of America, National AssociationCharlotte, NC | 14 | $6.3M | 1.9% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 83 | 11.1% | |
| 2 | Automotive Repair and MaintenanceNAICS 8111 | 28 | 3.7% | |
| 3 | Residential Building ConstructionNAICS 2361 | 26 | 3.5% | |
| 4 | Beer, Wine, and Liquor StoresNAICS 4453 | 25 | 3.3% | |
| 5 | Grocery StoresNAICS 4451 | 24 | 3.2% | |
| 6 | Personal Care ServicesNAICS 8121 | 24 | 3.2% | |
| 7 | Services to Buildings and DwellingsNAICS 5617 | 22 | 2.9% | |
| 8 | Other Specialty Trade ContractorsNAICS 2389 | 22 | 2.9% | |
| 9 | Offices of Other Health PractitionersNAICS 6213 | 22 | 2.9% | |
| 10 | Building Equipment ContractorsNAICS 2382 | 21 | 2.8% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Retail Trade | 115 | 15.3% | |
| 2 | Construction | 108 | 14.4% | |
| 3 | Accommodation and Food Services | 100 | 13.3% | |
| 4 | Other Services (except Public Administration) | 80 | 10.7% | |
| 5 | Health Care and Social Assistance | 69 | 9.2% | |
| 6 | Manufacturing | 63 | 8.4% | |
| 7 | Professional, Scientific, and Technical Services | 48 | 6.4% | |
| 8 | Transportation and Warehousing | 34 | 4.5% |
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* | 61 | $12.5M | $100K | 10 | $3.3M | 71 | 540 |
| FY2025 | 161 | $40.6M | $100K | 25 | $21.0M | 186 | 1,306 |
| FY2024 | 144 | $38.5M | $100K | 21 | $8.7M | 165 | 1,271 |
| FY2023 | 124 | $45.7M | $100K | 20 | $8.4M | 144 | 1,032 |
| FY2022 | 99 | $42.1M | $150K | 30 | $15.9M | 129 | 1,233 |
| FY2021 | 97 | $48.5M | $240K | 29 | $10.0M | 126 | 1,556 |
| FY2020 | 82 | $23.4M | $128K | 27 | $14.3M | 109 | 674 |
| FY2019 | 114 | $38.7M | $100K | 26 | $9.7M | 140 | 1,483 |
| FY2018 | 201 | $37.0M | $85K | 26 | $11.2M | 227 | 1,770 |
| FY2017 | 184 | $26.7M | $100K | 20 | $9.8M | 204 | 1,281 |
| FY2016 | 222 | $35.7M | $100K | 26 | $14.2M | 248 | 1,564 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 928 approvals.
Against Rhode Island and the country
| FY2021–FY2025 | Providence County | Rhode Island | United States |
|---|---|---|---|
| Approvals | 750 | 1,402 | 342,825 |
| Approvals per 1,000 establishments | 45.7 | 47.5 | 41.0 |
| Median 7(a) approval | $125K | $150K | $190K |
| Median 504 approval | $351K | $366K | $657K |
| Average approval | $373K | $406K | $573K |
| 504 share of approvals | 16.7% | 20.0% | 11.0% |
| Jobs supported per approval, as reported | 8.5 | 8.2 | 10.5 |
| Share of state approvals | 53.5% | 100.0% | — |
Approval sizes
- $50,000 or less22.7%170
- $50,001 to $150,00028.4%213
- $150,001 to $350,00022.1%166
- $350,001 to $1 million18.7%140
- $1 million to $2 million4.9%37
- Over $2 million3.2%24
Age of the businesses
- Existing, more than 2 years old64.7%485
- New business, 2 years or less17.5%131
- Startup, loan funds will open the business10.7%80
- Change of ownership7.2%54
Questions and answers
Which lenders make the most SBA loans in Providence County?
By approvals in FY2021 to FY2025: TD Bank, National Association (93), Eastern Bank (79), Ocean State Business Development Authority (50), Beacon Bank and Trust (48), Webster Bank National Association (47). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Providence County?
The median 7(a) approval was $125K and the median 504 approval $351K; the Rhode Island 7(a) median was $150K.
Which industries get the most SBA loans in Providence County?
Restaurants and Other Eating Places (83); Automotive Repair and Maintenance (28); Residential Building Construction (26); Beer, Wine, and Liquor Stores (25); Grocery Stores (24).
Is SBA lending in Providence County rising?
Approvals in the three latest complete fiscal years total 495, against 364 in the three before: rising (+36%).
How does Providence County compare with the rest of Rhode Island?
45.7 approvals per 1,000 establishments against 47.5 statewide, and 750 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