Lenders › Citizens Bank, National Association
7(a) lenderProvidence, Rhode IslandFDIC-insured bank93rd of 2,184 by approvals
Citizens Bank, National Association
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.
Citizens Bank, National Association, based in Providence, Rhode Island, is an FDIC-insured bank in the SBA 7(a) program. SBA approved 413 of its 7(a) loans worth $291M in FY2021 to FY2025, which places it 93rd of 2,184 active 7(a) lenders by number of approvals.
In FY2025, the latest complete fiscal year, it had 110 approvals totalling $64.8M, up 53% on FY2024 (72). FY2026 to 30 Jun 2026 adds 43 more.
The median approval was $350K, against $190K for the 7(a) program as a whole; 19.9% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 16 states and territories and 102 counties, led by Massachusetts (21.5%), Pennsylvania (14.3%) and Michigan (13.1%). The largest industry group was construction at 14.5% of approvals, and 5.1% of approvals were to franchise businesses.
Of 4,526 disbursed loans approved in FY2010 to FY2021, SBA records 180 as charged off (4.0%), 4,011 as paid in full and 335 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* | 43 | $37.7M | $410K | $877K | 470 |
| FY2025 | 110 | $64.8M | $400K | $589K | 1,800 |
| FY2024 | 72 | $33.2M | $300K | $461K | 1,232 |
| FY2023 | 81 | $63.9M | $350K | $788K | 1,354 |
| FY2022 | 70 | $52.2M | $337K | $745K | 811 |
| FY2021 | 80 | $76.6M | $435K | $958K | 1,616 |
| FY2020 | 116 | $62.0M | $200K | $534K | 1,142 |
| FY2019 | 225 | $73.5M | $185K | $327K | 1,805 |
| FY2018 | 607 | $106M | $100K | $175K | 3,796 |
| FY2017 | 842 | $112M | $80K | $133K | 3,443 |
| FY2016 | 932 | $124M | $75K | $133K | 3,386 |
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 2,722 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 | Massachusetts | 7(a) program |
|---|---|---|---|
| Approvals in these years | 5,695 | 21,862 | 639,905 |
| Cancelled or never disbursed | 1,169 | 2,699 | 79,313 |
| Disbursed loans | 4,526 | 19,163 | 560,592 |
| Paid in full | 4,011 | 16,336 | 435,813 |
| Charged off | 180 | 1,068 | 36,891 |
| Still outstanding (status exempt from disclosure) | 335 | 1,759 | 87,888 |
| Charged off, share of disbursed loans | 4.0% | 5.6% | 6.6% |
| Dollars charged off, share of disbursed dollars | 1.7% | 2.9% | 2.5% |
| Dollars charged off | $11.6M | $94.5M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 66 | 15 | 0 | 0.0% | 2.8% |
| FY2020 | 85 | 44 | 0 | 0.0% | 4.0% |
| FY2019 | 157 | 105 | 4 | 2.5% | 6.7% |
| FY2018 | 462 | 370 | 18 | 3.9% | 7.9% |
| FY2017 | 630 | 552 | 29 | 4.6% | 7.7% |
| FY2016 | 737 | 681 | 20 | 2.7% | 7.2% |
| FY2015 | 585 | 539 | 21 | 3.6% | 6.9% |
| FY2014 | 346 | 323 | 21 | 6.1% | 6.4% |
| FY2013 | 88 | 84 | 3 | 3.4% | 6.0% |
| FY2012 | 362 | 334 | 23 | 6.4% | 6.3% |
| FY2011 | 554 | 526 | 26 | 4.7% | 6.9% |
| FY2010 | 454 | 438 | 15 | 3.3% | 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 | $350K | $190K |
| Average approval | $704K | $518K |
| Approvals of $150,000 or less | 19.9% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 31.2% | 34.3% |
| Approvals to franchise businesses | 5.1% | 11.5% |
| Jobs supported per approval, as reported | 16.5 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 4.0% | 6.6% |
States served
| # | State of the business (16 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Massachusetts | 89 | $56.9M | 21.5% | |
| 2 | Pennsylvania | 59 | $42.9M | 14.3% | |
| 3 | Michigan | 54 | $30.8M | 13.1% | |
| 4 | New York | 45 | $34.9M | 10.9% | |
| 5 | Connecticut | 35 | $21.4M | 8.5% | |
| 6 | Rhode Island | 33 | $26.5M | 8.0% | |
| 7 | Ohio | 27 | $17.4M | 6.5% | |
| 8 | New Jersey | 25 | $16.8M | 6.1% | |
| 9 | New Hampshire | 20 | $17.1M | 4.8% | |
| 10 | Florida | 10 | $7.9M | 2.4% | |
| 11 | Vermont | 4 | $4.5M | 1.0% | |
| 12 | Virginia | 4 | $3.1M | 1.0% |
In Massachusetts the lender accounts for 1.2% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (102 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Middlesex County, MA | 21 | $16.5M | 5.1% | |
| 2 | Macomb County, MI | 21 | $13.8M | 5.1% | |
| 3 | Norfolk County, MA | 21 | $6.2M | 5.1% | |
| 4 | Providence County, RI | 18 | $15.9M | 4.4% | |
| 5 | Wayne County, MI | 18 | $13.1M | 4.4% | |
| 6 | Suffolk County, MA | 15 | $12.3M | 3.6% | |
| 7 | Oakland County, MI | 15 | $3.8M | 3.6% | |
| 8 | Bristol County, MA | 13 | $10.3M | 3.1% | |
| 9 | Cuyahoga County, OH | 12 | $5.2M | 2.9% | |
| 10 | Philadelphia County, PA | 11 | $6.1M | 2.7% | |
| 11 | Rockingham County, NH | 10 | $6.2M | 2.4% | |
| 12 | Plymouth County, MA | 9 | $3.6M | 2.2% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 60 | 14.5% | |
| 2 | Retail Trade | 55 | 13.3% | |
| 3 | Professional, Scientific, and Technical Services | 52 | 12.6% | |
| 4 | Other Services (except Public Administration) | 46 | 11.1% | |
| 5 | Manufacturing | 34 | 8.2% | |
| 6 | Accommodation and Food Services | 32 | 7.7% | |
| 7 | Wholesale Trade | 31 | 7.5% | |
| 8 | Health Care and Social Assistance | 24 | 5.8% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 31 | 7.5% | |
| 2 | Computer Systems Design and Related ServicesNAICS 5415 | 17 | 4.1% | |
| 3 | Building Finishing ContractorsNAICS 2383 | 17 | 4.1% | |
| 4 | Building Equipment ContractorsNAICS 2382 | 15 | 3.6% | |
| 5 | Automotive Repair and MaintenanceNAICS 8111 | 15 | 3.6% | |
| 6 | Other Professional, Scientific, and Technical ServicesNAICS 5419 | 12 | 2.9% | |
| 7 | Services to Buildings and DwellingsNAICS 5617 | 12 | 2.9% | |
| 8 | Grocery StoresNAICS 4451 | 11 | 2.7% | |
| 9 | Personal Care ServicesNAICS 8121 | 10 | 2.4% | |
| 10 | Management, Scientific, and Technical Consulting ServicesNAICS 5416 | 8 | 1.9% |
Approval sizes
- $50,000 or less2.7%11
- $50,001 to $150,00017.2%71
- $150,001 to $350,00031.5%130
- $350,001 to $1 million30.0%124
- $1 million to $2 million10.2%42
- Over $2 million8.5%35
Loan terms
- 5 years or less1.5%6
- Over 5 to 10 years76.8%317
- Over 10 to 20 years4.4%18
- Over 20 years17.4%72
Age of the businesses
- Existing, more than 2 years old64.2%265
- New business, 2 years or less29.5%122
- Startup, loan funds will open the business1.7%7
- Change of ownership4.6%19
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 232 | 56.2% | |
| 2 | SBA Express Program | 176 | 42.6% | |
| 3 | 7a General | 5 | 1.2% |
Franchise share
21 of 413 approvals in FY2021–FY2025 (5.1%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Edible Arrangements | 2 | 0.5% | |
| 2 | Dairy Queen | 2 | 0.5% | |
| 3 | Abbey Carpet & Floor | 1 | 0.2% | |
| 4 | VP Racing Fuels, Inc. | 1 | 0.2% | |
| 5 | Pearle Vision | 1 | 0.2% | |
| 6 | Taco Bell | 1 | 0.2% | |
| 7 | Tim Hortons | 1 | 0.2% | |
| 8 | Savvy Sliders | 1 | 0.2% |
Questions and answers
How many SBA loans does Citizens Bank, National Association make?
SBA approved 110 7(a) loans through Citizens Bank, National Association in FY2025, worth $64.8M, and 413 over FY2021 to FY2025. That ranks 93rd of 2,184 active 7(a) lenders by number of approvals.
How large are Citizens Bank, National Association's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $350K and the average $704K. The program-wide median was $190K.
What is Citizens Bank, National Association's charge-off rate?
Of 4,526 disbursed loans approved in FY2010 to FY2021, SBA records 180 as charged off (4.0%), 4,011 as paid in full and 335 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 Citizens Bank, National Association lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (31); computer systems design and related services (17); building finishing contractors (17); building equipment contractors (15).
Where does Citizens Bank, National Association make SBA loans?
In 16 states and territories. Massachusetts 89, Pennsylvania 59, Michigan 54, New York 45, Connecticut 35. In Massachusetts it accounts for 1.2% of all 7(a) approvals.
Is Citizens Bank, National Association's SBA lending rising?
Approvals in the three latest complete fiscal years total 263, against 266 in the three before: broadly level (-1%).
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