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County4th of 5 in Rhode Island by approvalsFIPS 44009
SBA loans in Washington 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 162 loans to businesses in Washington County, Rhode Island, in FY2021 to FY2025, worth $85.2M: 118 under 7(a) and 44 under 504.
That is 42.6 approvals per 1,000 business establishments (3,799 establishments in 2023), close to the Rhode Island figure of 47.5 and close to the national 41.0.
It ranks 4th of 5 Rhode Island counties with approvals. In FY2025 there were 43, up 54% on FY2024.
39 lenders had approvals here; the most active were Beacon Bank and Trust (16), Ocean State Business Development Authority (14) and New England Certified Development Corporation (12). 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 Washington County
By number of approvals to businesses in the county, FY2021–FY2025; 39 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Beacon Bank and TrustBrookline, MA | 16 | $8.9M | 9.9% | |
| 2 | Ocean State Business Development AuthorityWarwick, RI · CDC | 14 | $16.5M | 8.6% | |
| 3 | New England Certified Development CorporationWakefield, MA · CDC | 12 | $6.3M | 7.4% | |
| 4 | Bay Colony Development CorporationWaltham, MA · CDC | 10 | $5.6M | 6.2% | |
| 5 | Eastern BankBoston, MA | 9 | $3.3M | 5.6% | |
| 6 | Webster Bank National AssociationWaterbury, CT | 8 | $2.3M | 4.9% | |
| 7 | TD Bank, National AssociationWilmington, DE | 8 | $741K | 4.9% | |
| 8 | The Huntington National BankColumbus, OH | 7 | $5.7M | 4.3% | |
| 9 | Jewett City Savings BankJewett City, CT | 7 | $3.3M | 4.3% | |
| 10 | Community Investment CorporationHamden, CT · CDC | 7 | $2.3M | 4.3% | |
| 11 | BayFirst National BankSaint Petersburg, FL | 7 | $827K | 4.3% | |
| 12 | Newtek Small Business Finance, Inc.Lake Success, NY | 5 | $6.1M | 3.1% | |
| 13 | Navigant CUSmithfield, RI | 5 | $2.6M | 3.1% | |
| 14 | Bank of America, National AssociationCharlotte, NC | 5 | $1.3M | 3.1% | |
| 15 | BankNewportMiddletown, RI | 5 | $284K | 3.1% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 27 | 16.7% | |
| 2 | Offices of Other Health PractitionersNAICS 6213 | 10 | 6.2% | |
| 3 | Traveler AccommodationNAICS 7211 | 9 | 5.6% | |
| 4 | Offices of PhysiciansNAICS 6211 | 7 | 4.3% | |
| 5 | Other Specialty Trade ContractorsNAICS 2389 | 7 | 4.3% | |
| 6 | Architectural, Engineering, and Related ServicesNAICS 5413 | 5 | 3.1% | |
| 7 | Services to Buildings and DwellingsNAICS 5617 | 5 | 3.1% | |
| 8 | Management, Scientific, and Technical Consulting ServicesNAICS 5416 | 5 | 3.1% | |
| 9 | Other Amusement and Recreation IndustriesNAICS 7139 | 4 | 2.5% | |
| 10 | Building Equipment ContractorsNAICS 2382 | 4 | 2.5% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 38 | 23.5% | |
| 2 | Health Care and Social Assistance | 21 | 13.0% | |
| 3 | Retail Trade | 19 | 11.7% | |
| 4 | Construction | 19 | 11.7% | |
| 5 | Manufacturing | 12 | 7.4% | |
| 6 | Other Services (except Public Administration) | 12 | 7.4% | |
| 7 | Professional, Scientific, and Technical Services | 12 | 7.4% | |
| 8 | Administrative and Support and Waste Management and Remediation Services | 7 | 4.3% |
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* | 19 | $8.8M | $140K | 4 | $1.5M | 23 | 171 |
| FY2025 | 38 | $19.3M | $150K | 5 | $3.2M | 43 | 394 |
| FY2024 | 21 | $9.3M | $150K | 7 | $2.7M | 28 | 255 |
| FY2023 | 14 | $3.5M | $198K | 8 | $11.1M | 22 | 144 |
| FY2022 | 20 | $8.3M | $200K | 17 | $10.7M | 37 | 262 |
| FY2021 | 25 | $13.7M | $250K | 7 | $3.4M | 32 | 205 |
| FY2020 | 17 | $5.1M | $135K | 6 | $2.1M | 23 | 116 |
| FY2019 | 24 | $6.4M | $91K | 10 | $5.5M | 34 | 154 |
| FY2018 | 29 | $4.0M | $85K | 10 | $5.9M | 39 | 209 |
| FY2017 | 46 | $13.1M | $75K | 12 | $9.7M | 58 | 422 |
| FY2016 | 40 | $10.9M | $100K | 6 | $4.4M | 46 | 499 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 200 approvals.
Against Rhode Island and the country
| FY2021–FY2025 | Washington County | Rhode Island | United States |
|---|---|---|---|
| Approvals | 162 | 1,402 | 342,825 |
| Approvals per 1,000 establishments | 42.6 | 47.5 | 41.0 |
| Median 7(a) approval | $188K | $150K | $190K |
| Median 504 approval | $506K | $366K | $657K |
| Average approval | $526K | $406K | $573K |
| 504 share of approvals | 27.2% | 20.0% | 11.0% |
| Jobs supported per approval, as reported | 7.8 | 8.2 | 10.5 |
| Share of state approvals | 11.6% | 100.0% | — |
Approval sizes
- $50,000 or less15.4%25
- $50,001 to $150,00022.8%37
- $150,001 to $350,00024.7%40
- $350,001 to $1 million26.5%43
- $1 million to $2 million4.9%8
- Over $2 million5.6%9
Age of the businesses
- Existing, more than 2 years old66.7%108
- New business, 2 years or less11.1%18
- Startup, loan funds will open the business13.0%21
- Change of ownership9.3%15
Questions and answers
Which lenders make the most SBA loans in Washington County?
By approvals in FY2021 to FY2025: Beacon Bank and Trust (16), Ocean State Business Development Authority (14), New England Certified Development Corporation (12), Bay Colony Development Corporation (10), Eastern Bank (9). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Washington County?
The median 7(a) approval was $188K and the median 504 approval $506K; the Rhode Island 7(a) median was $150K.
Which industries get the most SBA loans in Washington County?
Restaurants and Other Eating Places (27); Offices of Other Health Practitioners (10); Traveler Accommodation (9); Offices of Physicians (7); Other Specialty Trade Contractors (7).
Is SBA lending in Washington County rising?
Approvals in the three latest complete fiscal years total 93, against 92 in the three before: broadly level (+1%).
How does Washington County compare with the rest of Rhode Island?
42.6 approvals per 1,000 establishments against 47.5 statewide, and 162 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