Lenders › Needham Bank
7(a) lenderNeedham, MassachusettsFDIC-insured bank172nd of 2,184 by approvals
Needham 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 220 7(a) loans, worth $50.8M, through Needham Bank of Needham, Massachusetts, an FDIC-insured bank in the SBA 7(a) program. By number of approvals that is 172nd among 2,184 active 7(a) lenders.
In FY2025, the latest complete fiscal year, it had 11 approvals totalling $4.1M, down 52% on FY2024 (23). FY2026 to 30 Jun 2026 adds 6 more.
The median approval was $100K, against $190K for the 7(a) program as a whole; 61.8% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 5 states and territories and 18 counties, led by Massachusetts (87.3%), New Hampshire (10.0%) and Connecticut (1.4%). The largest industry group was construction at 15.0% of approvals, and 6.4% of approvals were to franchise businesses.
Of 362 disbursed loans approved in FY2010 to FY2021, SBA records 9 as charged off (2.5%), 317 as paid in full and 36 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* | 6 | $1.2M | $165K | $200K | 43 |
| FY2025 | 11 | $4.1M | $215K | $373K | 85 |
| FY2024 | 23 | $3.5M | $50K | $154K | 180 |
| FY2023 | 59 | $9.3M | $50K | $158K | 972 |
| FY2022 | 72 | $19.7M | $106K | $273K | 729 |
| FY2021 | 55 | $14.2M | $200K | $257K | 468 |
| FY2020 | 25 | $6.4M | $150K | $256K | 237 |
| FY2019 | 32 | $10.6M | $188K | $330K | 338 |
| FY2018 | 42 | $16.0M | $150K | $381K | 728 |
| FY2017 | 27 | $13.5M | $150K | $499K | 702 |
| FY2016 | 35 | $8.6M | $145K | $245K | 765 |
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 161 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 | 412 | 21,862 | 639,905 |
| Cancelled or never disbursed | 50 | 2,699 | 79,313 |
| Disbursed loans | 362 | 19,163 | 560,592 |
| Paid in full | 317 | 16,336 | 435,813 |
| Charged off | 9 | 1,068 | 36,891 |
| Still outstanding (status exempt from disclosure) | 36 | 1,759 | 87,888 |
| Charged off, share of disbursed loans | 2.5% | 5.6% | 6.6% |
| Dollars charged off, share of disbursed dollars | 0.6% | 2.9% | 2.5% |
| Dollars charged off | $580K | $94.5M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 39 | 24 | 1 | 2.6% | 2.8% |
| FY2020 | 22 | 16 | 0 | — | 4.0% |
| FY2019 | 28 | 21 | 0 | — | 6.7% |
| FY2018 | 35 | 28 | 3 | 8.6% | 7.9% |
| FY2017 | 27 | 25 | 0 | — | 7.7% |
| FY2016 | 31 | 30 | 0 | 0.0% | 7.2% |
| FY2015 | 40 | 39 | 1 | 2.5% | 6.9% |
| FY2014 | 48 | 46 | 1 | 2.1% | 6.4% |
| FY2013 | 25 | 22 | 2 | — | 6.0% |
| FY2012 | 19 | 18 | 1 | — | 6.3% |
| FY2011 | 33 | 33 | 0 | 0.0% | 6.9% |
| FY2010 | 15 | 15 | 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 | $100K | $190K |
| Average approval | $231K | $518K |
| Approvals of $150,000 or less | 61.8% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 32.7% | 34.3% |
| Approvals to franchise businesses | 6.4% | 11.5% |
| Jobs supported per approval, as reported | 11.1 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 2.5% | 6.6% |
States served
| # | State of the business (5 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Massachusetts | 192 | $36.5M | 87.3% | |
| 2 | New Hampshire | 22 | $7.6M | 10.0% | |
| 3 | Connecticut | 3 | $5.3M | 1.4% | |
| 4 | Rhode Island | 2 | — | 0.9% | |
| 5 | Florida | 1 | — | 0.5% |
In Massachusetts the lender accounts for 2.5% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (18 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Norfolk County, MA | 68 | $8.9M | 30.9% | |
| 2 | Middlesex County, MA | 45 | $8.4M | 20.5% | |
| 3 | Worcester County, MA | 35 | $8.3M | 15.9% | |
| 4 | Suffolk County, MA | 19 | $2.7M | 8.6% | |
| 5 | Essex County, MA | 15 | $4.1M | 6.8% | |
| 6 | Rockingham County, NH | 13 | $3.6M | 5.9% | |
| 7 | Plymouth County, MA | 6 | $2.7M | 2.7% | |
| 8 | Merrimack County, NH | 4 | $1.0M | 1.8% | |
| 9 | Southeastern Connecticut Planning Region, CT | 3 | $5.3M | 1.4% | |
| 10 | Strafford County, NH | 3 | $2.2M | 1.4% | |
| 11 | Providence County, RI | 2 | — | 0.9% | |
| 12 | Hampshire County, MA | 1 | — | 0.5% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 33 | 15.0% | |
| 2 | Professional, Scientific, and Technical Services | 28 | 12.7% | |
| 3 | Accommodation and Food Services | 18 | 8.2% | |
| 4 | Health Care and Social Assistance | 18 | 8.2% | |
| 5 | Arts, Entertainment, and Recreation | 17 | 7.7% | |
| 6 | Other Services (except Public Administration) | 17 | 7.7% | |
| 7 | Administrative and Support and Waste Management and Remediation Services | 16 | 7.3% | |
| 8 | Retail Trade | 16 | 7.3% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 16 | 7.3% | |
| 2 | Building Equipment ContractorsNAICS 2382 | 15 | 6.8% | |
| 3 | Motor Vehicle and Motor Vehicle Parts and Supplies Merchant WholesalersNAICS 4231 | 12 | 5.5% | |
| 4 | Other Amusement and Recreation IndustriesNAICS 7139 | 10 | 4.5% | |
| 5 | Services to Buildings and DwellingsNAICS 5617 | 9 | 4.1% | |
| 6 | Accounting, Tax Preparation, Bookkeeping, and Payroll ServicesNAICS 5412 | 8 | 3.6% | |
| 7 | Management, Scientific, and Technical Consulting ServicesNAICS 5416 | 8 | 3.6% | |
| 8 | Automotive Repair and MaintenanceNAICS 8111 | 8 | 3.6% | |
| 9 | Residential Building ConstructionNAICS 2361 | 6 | 2.7% | |
| 10 | Computer Systems Design and Related ServicesNAICS 5415 | 5 | 2.3% |
Approval sizes
- $50,000 or less38.2%84
- $50,001 to $150,00023.6%52
- $150,001 to $350,00024.1%53
- $350,001 to $1 million10.9%24
- $1 million to $2 million2.3%5
- Over $2 million0.9%2
Loan terms
- 5 years or less17.3%38
- Over 5 to 10 years77.3%170
- Over 10 to 20 years4.5%10
- Over 20 years0.9%2
Age of the businesses
- Existing, more than 2 years old62.7%138
- New business, 2 years or less22.3%49
- Startup, loan funds will open the business10.5%23
- Change of ownership4.5%10
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | SBA Express Program | 124 | 56.4% | |
| 2 | Preferred Lenders Program | 76 | 34.5% | |
| 3 | 7a General | 7 | 3.2% | |
| 4 | Working Capital CAPLine | 7 | 3.2% | |
| 5 | Export Express | 5 | 2.3% | |
| 6 | Builders CAPLine | 1 | 0.5% |
Franchise share
14 of 220 approvals in FY2021–FY2025 (6.4%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | The UPS Store | 6 | 2.7% | |
| 2 | Orange Theory Fitness | 2 | 0.9% | |
| 3 | Rolling Suds | 2 | 0.9% | |
| 4 | Launch Family Entertainment | 1 | 0.5% | |
| 5 | Sub Zero Ice Cream & Yogurt | 1 | 0.5% | |
| 6 | 101 Mobility | 1 | 0.5% | |
| 7 | CertaPro Painters | 1 | 0.5% |
Questions and answers
How many SBA loans does Needham Bank make?
SBA approved 11 7(a) loans through Needham Bank in FY2025, worth $4.1M, and 220 over FY2021 to FY2025. That ranks 172nd of 2,184 active 7(a) lenders by number of approvals.
How large are Needham Bank's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $100K and the average $231K. The program-wide median was $190K.
What is Needham Bank's charge-off rate?
Of 362 disbursed loans approved in FY2010 to FY2021, SBA records 9 as charged off (2.5%), 317 as paid in full and 36 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 Needham Bank lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (16); building equipment contractors (15); motor vehicle and motor vehicle parts and supplies merchant wholesalers (12); other amusement and recreation industries (10).
Where does Needham Bank make SBA loans?
In 5 states and territories. Massachusetts 192, New Hampshire 22, Connecticut 3, Rhode Island 2, Florida 1. In Massachusetts it accounts for 2.5% of all 7(a) approvals.
Is Needham Bank's SBA lending rising?
Approvals in the three latest complete fiscal years total 93, against 152 in the three before: falling (-39%).
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