Lenders › Bankwell Bank
7(a) lenderNew Canaan, ConnecticutFDIC-insured bank298th of 2,184 by approvals
Bankwell Bank
SBA 7(a) loan approvals by fiscal year, where they went, how large they were, and how loans from earlier years turned out.
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.
In FY2021 to FY2025 SBA approved 110 7(a) loans, worth $130M, through Bankwell Bank of New Canaan, Connecticut, an FDIC-insured bank in the SBA 7(a) program. By number of approvals that is 298th among 2,184 active 7(a) lenders.
In FY2025, the latest complete fiscal year, it had 68 approvals totalling $58.6M, up 518% on FY2024 (11). FY2026 to 30 Jun 2026 adds 67 more.
The median approval was $789K, against $190K for the 7(a) program as a whole; 11.8% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 28 states and territories and 73 counties, led by Florida (22.7%), Texas (12.7%) and California (10.0%). The largest industry group was finance and insurance at 43.6% of approvals, and 1.8% of approvals were to franchise businesses.
Of 161 disbursed loans approved in FY2010 to FY2021, SBA records 7 as charged off (4.3%), 132 as paid in full and 22 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below it.
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. Loans appear under the lender they are assigned to today, so a lender's figures include loans it took over. Data through 30 Jun 2026.
Approvals by fiscal year
| Fiscal year | Approvals | Dollars approved | Median approval | Average approval | Jobs supported, as reported |
|---|---|---|---|---|---|
| FY2026* | 67 | $113M | $1.1M | $1.7M | 1,018 |
| FY2025 | 68 | $58.6M | $475K | $862K | 1,031 |
| FY2024 | 11 | $7.3M | $400K | $665K | 125 |
| FY2023 | 7 | $17.6M | $2.8M | $2.5M | 25 |
| FY2022 | 7 | $13.0M | $1.6M | $1.9M | 35 |
| FY2021 | 17 | $33.7M | $1.4M | $2.0M | 70 |
| FY2020 | 8 | $17.2M | $1.9M | $2.2M | 45 |
| FY2019 | 12 | $17.2M | $1.5M | $1.4M | 52 |
| FY2018 | 8 | $9.4M | $814K | $1.2M | 28 |
| FY2017 | 8 | $11.7M | $693K | $1.5M | 135 |
| FY2016 | 12 | $8.8M | $503K | $736K | 248 |
Approvals are counted in the year SBA approved them and include approvals later cancelled. In the five fiscal years before the current window (FY2016–FY2020) the lender had 48 approvals. First approval on file: FY2010.
How earlier loans turned out
Only loans approved at least five fiscal years ago (FY2010–FY2021) are counted, because newer loans have had little time to be paid in full or charged off. "Charged off" is SBA's status for a loan on which it has written off the remaining balance.
| Loans approved FY2010–FY2021 | This lender | Florida | 7(a) program |
|---|---|---|---|
| Approvals in these years | 188 | 31,863 | 639,905 |
| Cancelled or never disbursed | 27 | 3,596 | 79,313 |
| Disbursed loans | 161 | 28,267 | 560,592 |
| Paid in full | 132 | 20,064 | 435,813 |
| Charged off | 7 | 2,783 | 36,891 |
| Still outstanding (status exempt from disclosure) | 22 | 5,420 | 87,888 |
| Charged off, share of disbursed loans | 4.3% | 9.8% | 6.6% |
| Dollars charged off, share of disbursed dollars | 2.3% | 3.1% | 2.5% |
| Dollars charged off | $2.9M | $442M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 16 | 10 | 0 | — | 2.8% |
| FY2020 | 7 | 6 | 0 | — | 4.0% |
| FY2019 | 10 | 8 | 0 | — | 6.7% |
| FY2018 | 8 | 5 | 0 | — | 7.9% |
| FY2017 | 7 | 5 | 0 | — | 7.7% |
| FY2016 | 10 | 8 | 0 | — | 7.2% |
| FY2015 | 14 | 10 | 1 | — | 6.9% |
| FY2014 | 26 | 23 | 1 | — | 6.4% |
| FY2013 | 18 | 14 | 4 | — | 6.0% |
| FY2012 | 12 | 10 | 1 | — | 6.3% |
| FY2011 | 19 | 19 | 0 | — | 6.9% |
| FY2010 | 14 | 14 | 0 | — | 9.2% |
A share is shown only where at least 30 loans from that year were disbursed.
Against the 7(a) program
| FY2021–FY2025 | This lender | 7(a) program |
|---|---|---|
| Median approval | $789K | $190K |
| Average approval | $1.2M | $518K |
| Approvals of $150,000 or less | 11.8% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 27.3% | 34.3% |
| Approvals to franchise businesses | 1.8% | 11.5% |
| Jobs supported per approval, as reported | 11.7 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 4.3% | 6.6% |
States served
| # | State of the business (28 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Florida | 25 | $35.7M | 22.7% | |
| 2 | Texas | 14 | $21.4M | 12.7% | |
| 3 | California | 11 | $18.0M | 10.0% | |
| 4 | New Jersey | 8 | $10.7M | 7.3% | |
| 5 | Georgia | 6 | $6.0M | 5.5% | |
| 6 | Pennsylvania | 6 | $5.9M | 5.5% | |
| 7 | Connecticut | 6 | $2.5M | 5.5% | |
| 8 | New York | 5 | $6.0M | 4.5% | |
| 9 | Illinois | 4 | $1.6M | 3.6% | |
| 10 | North Carolina | 2 | — | 1.8% | |
| 11 | Maryland | 2 | — | 1.8% | |
| 12 | Utah | 2 | — | 1.8% |
In Florida the lender accounts for 0.1% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (73 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Los Angeles County, CA | 5 | $8.4M | 4.5% | |
| 2 | Miami-Dade County, FL | 5 | $5.7M | 4.5% | |
| 3 | Palm Beach County, FL | 4 | $7.1M | 3.6% | |
| 4 | Sarasota County, FL | 4 | $5.0M | 3.6% | |
| 5 | Walton County, FL | 4 | $2.0M | 3.6% | |
| 6 | Western Connecticut Planning Region, CT | 4 | $1.0M | 3.6% | |
| 7 | Hillsborough County, FL | 3 | $6.8M | 2.7% | |
| 8 | Monmouth County, NJ | 3 | $4.3M | 2.7% | |
| 9 | Muscogee County, GA | 3 | $3.7M | 2.7% | |
| 10 | Travis County, TX | 3 | $3.1M | 2.7% | |
| 11 | Middlesex County, NJ | 3 | $2.7M | 2.7% | |
| 12 | Johnson County, TX | 2 | — | 1.8% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Finance and Insurance | 48 | 43.6% | |
| 2 | Accommodation and Food Services | 15 | 13.6% | |
| 3 | Health Care and Social Assistance | 10 | 9.1% | |
| 4 | Professional, Scientific, and Technical Services | 8 | 7.3% | |
| 5 | Construction | 5 | 4.5% | |
| 6 | Other Services (except Public Administration) | 4 | 3.6% | |
| 7 | Retail Trade | 4 | 3.6% | |
| 8 | Transportation and Warehousing | 4 | 3.6% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Agencies, Brokerages, and Other Insurance Related ActivitiesNAICS 5242 | 48 | 43.6% | |
| 2 | Restaurants and Other Eating PlacesNAICS 7225 | 14 | 12.7% | |
| 3 | Child Day Care ServicesNAICS 6244 | 5 | 4.5% | |
| 4 | Other Professional, Scientific, and Technical ServicesNAICS 5419 | 3 | 2.7% | |
| 5 | Educational Support ServicesNAICS 6117 | 2 | 1.8% | |
| 6 | Specialty Food StoresNAICS 4452 | 2 | 1.8% | |
| 7 | Computer Systems Design and Related ServicesNAICS 5415 | 2 | 1.8% | |
| 8 | Building Finishing ContractorsNAICS 2383 | 2 | 1.8% | |
| 9 | Management, Scientific, and Technical Consulting ServicesNAICS 5416 | 2 | 1.8% | |
| 10 | Services to Buildings and DwellingsNAICS 5617 | 2 | 1.8% |
Approval sizes
- $50,000 or less0.9%1
- $50,001 to $150,00010.9%12
- $150,001 to $350,00019.1%21
- $350,001 to $1 million24.5%27
- $1 million to $2 million25.5%28
- Over $2 million19.1%21
Loan terms
- Over 5 to 10 years90.9%100
- Over 10 to 20 years1.8%2
- Over 20 years7.3%8
Age of the businesses
- Existing, more than 2 years old45.5%50
- New business, 2 years or less15.5%17
- Startup, loan funds will open the business11.8%13
- Change of ownership27.3%30
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 105 | 95.5% | |
| 2 | 7a General | 3 | 2.7% | |
| 3 | International Trade Loans | 2 | 1.8% |
Franchise share
2 of 110 approvals in FY2021–FY2025 (1.8%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Firehouse Subs | 1 | 0.9% | |
| 2 | Goosehead Insurance | 1 | 0.9% |
Questions and answers
How many SBA loans does Bankwell Bank make?
SBA approved 68 7(a) loans through Bankwell Bank in FY2025, worth $58.6M, and 110 over FY2021 to FY2025. That ranks 298th of 2,184 active 7(a) lenders by number of approvals.
How large are Bankwell Bank's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $789K and the average $1.2M. The program-wide median was $190K.
What is Bankwell Bank's charge-off rate?
Of 161 disbursed loans approved in FY2010 to FY2021, SBA records 7 as charged off (4.3%), 132 as paid in full and 22 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below it. Loans are listed under the lender that holds them today, so the figure includes loans taken over from other lenders. Status is as recorded by SBA on 30 Jun 2026.
Which industries does Bankwell Bank lend to most?
By number of approvals in FY2021 to FY2025: agencies, brokerages, and other insurance related activities (48); restaurants and other eating places (14); child day care services (5); other professional, scientific, and technical services (3).
Where does Bankwell Bank make SBA loans?
In 28 states and territories. Florida 25, Texas 14, California 11, New Jersey 8, Georgia 6. In Florida it accounts for 0.1% of all 7(a) approvals.
Is Bankwell Bank's SBA lending rising?
Approvals in the three latest complete fiscal years total 86, against 32 in the three before: rising (+169%).
Where does this data come from?
From the Small Business Administration's 7(a) and 504 FOIA loan files, as of 30 Jun 2026. Borrower names and addresses in those files are discarded when the files are read and appear nowhere on this site.
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. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error