Lenders › Northern Bank and Trust Company
7(a) lenderWoburn, MassachusettsFDIC-insured bank475th of 2,184 by approvals
Northern Bank and Trust Company
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.
Northern Bank and Trust Company, based in Woburn, Massachusetts, is an FDIC-insured bank in the SBA 7(a) program. SBA approved 55 of its 7(a) loans worth $28.1M in FY2021 to FY2025, which places it 475th of 2,184 active 7(a) lenders by number of approvals.
In FY2025, the latest complete fiscal year, it had 5 approvals totalling $7.9M. FY2026 to 30 Jun 2026 adds 4 more.
The median approval was $256K, against $190K for the 7(a) program as a whole; 27.3% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 8 states and territories and 15 counties, led by Massachusetts (87.3%), Florida (1.8%) and New Hampshire (1.8%). The largest industry group was accommodation and food services at 34.5% of approvals, and 20.0% of approvals were to franchise businesses.
Of 56 disbursed loans approved in FY2010 to FY2021, SBA records 3 as charged off (5.4%), 26 as paid in full and 27 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* | 4 | $1.7M | $381K | $422K | 18 |
| FY2025 | 5 | $7.9M | $990K | $1.6M | 139 |
| FY2024 | 9 | $4.7M | $250K | $520K | 259 |
| FY2023 | 4 | $2.1M | $626K | $528K | 60 |
| FY2022 | 25 | $10.0M | $256K | $398K | 384 |
| FY2021 | 12 | $3.4M | $200K | $283K | 149 |
| FY2020 | 10 | $3.3M | $175K | $333K | 178 |
| FY2019 | 23 | $11.7M | $280K | $510K | 447 |
| FY2018 | 11 | $7.8M | $250K | $706K | 339 |
| FY2017 | 2 | — | — | — | 31 |
| FY2016 | 0 | — | — | — | 0 |
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 46 approvals. First approval on file: FY2017.
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 | 58 | 21,862 | 639,905 |
| Cancelled or never disbursed | 2 | 2,699 | 79,313 |
| Disbursed loans | 56 | 19,163 | 560,592 |
| Paid in full | 26 | 16,336 | 435,813 |
| Charged off | 3 | 1,068 | 36,891 |
| Still outstanding (status exempt from disclosure) | 27 | 1,759 | 87,888 |
| Charged off, share of disbursed loans | 5.4% | 5.6% | 6.6% |
| Dollars charged off, share of disbursed dollars | 2.5% | 2.9% | 2.5% |
| Dollars charged off | $605K | $94.5M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 12 | 4 | 1 | — | 2.8% |
| FY2020 | 10 | 8 | 0 | — | 4.0% |
| FY2019 | 22 | 11 | 0 | — | 6.7% |
| FY2018 | 10 | 2 | 2 | — | 7.9% |
| FY2017 | 2 | 1 | 0 | — | 7.7% |
| FY2016 | 0 | 0 | 0 | — | 7.2% |
| FY2015 | 0 | 0 | 0 | — | 6.9% |
| FY2014 | 0 | 0 | 0 | — | 6.4% |
| FY2013 | 0 | 0 | 0 | — | 6.0% |
| FY2012 | 0 | 0 | 0 | — | 6.3% |
| FY2011 | 0 | 0 | 0 | — | 6.9% |
| FY2010 | 0 | 0 | 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 | $256K | $190K |
| Average approval | $510K | $518K |
| Approvals of $150,000 or less | 27.3% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 63.6% | 34.3% |
| Approvals to franchise businesses | 20.0% | 11.5% |
| Jobs supported per approval, as reported | 18.0 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 5.4% | 6.6% |
States served
| # | State of the business (8 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Massachusetts | 48 | $26.3M | 87.3% | |
| 2 | Florida | 1 | — | 1.8% | |
| 3 | New Hampshire | 1 | — | 1.8% | |
| 4 | Vermont | 1 | — | 1.8% | |
| 5 | North Carolina | 1 | — | 1.8% | |
| 6 | Georgia | 1 | — | 1.8% | |
| 7 | Texas | 1 | — | 1.8% | |
| 8 | Connecticut | 1 | — | 1.8% |
In Massachusetts the lender accounts for 0.6% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (15 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Middlesex County, MA | 34 | $14.7M | 61.8% | |
| 2 | Essex County, MA | 7 | $6.0M | 12.7% | |
| 3 | Barnstable County, MA | 2 | — | 3.6% | |
| 4 | Norfolk County, MA | 1 | — | 1.8% | |
| 5 | Hamilton County, FL | 1 | — | 1.8% | |
| 6 | Suffolk County, MA | 1 | — | 1.8% | |
| 7 | Dukes County, MA | 1 | — | 1.8% | |
| 8 | Rockingham County, NH | 1 | — | 1.8% | |
| 9 | Worcester County, MA | 1 | — | 1.8% | |
| 10 | Lamoille County, VT | 1 | — | 1.8% | |
| 11 | Durham County, NC | 1 | — | 1.8% | |
| 12 | Gwinnett County, GA | 1 | — | 1.8% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 19 | 34.5% | |
| 2 | Professional, Scientific, and Technical Services | 7 | 12.7% | |
| 3 | Real Estate and Rental and Leasing | 7 | 12.7% | |
| 4 | Other Services (except Public Administration) | 5 | 9.1% | |
| 5 | Construction | 4 | 7.3% | |
| 6 | Retail Trade | 3 | 5.5% | |
| 7 | Manufacturing | 3 | 5.5% | |
| 8 | Educational Services | 3 | 5.5% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 18 | 32.7% | |
| 2 | Consumer Goods RentalNAICS 5322 | 4 | 7.3% | |
| 3 | Personal Care ServicesNAICS 8121 | 3 | 5.5% | |
| 4 | Lessors of Real EstateNAICS 5311 | 3 | 5.5% | |
| 5 | Other Schools and InstructionNAICS 6116 | 3 | 5.5% | |
| 6 | Architectural, Engineering, and Related ServicesNAICS 5413 | 2 | 3.6% | |
| 7 | Beverage ManufacturingNAICS 3121 | 2 | 3.6% | |
| 8 | Specialty Food StoresNAICS 4452 | 2 | 3.6% | |
| 9 | Accounting, Tax Preparation, Bookkeeping, and Payroll ServicesNAICS 5412 | 2 | 3.6% | |
| 10 | Residential Building ConstructionNAICS 2361 | 2 | 3.6% |
Approval sizes
- $50,000 or less9.1%5
- $50,001 to $150,00018.2%10
- $150,001 to $350,00036.4%20
- $350,001 to $1 million25.5%14
- $1 million to $2 million7.3%4
- Over $2 million3.6%2
Loan terms
- 5 years or less1.8%1
- Over 5 to 10 years81.8%45
- Over 10 to 20 years9.1%5
- Over 20 years7.3%4
Age of the businesses
- Existing, more than 2 years old18.2%10
- New business, 2 years or less29.1%16
- Startup, loan funds will open the business34.5%19
- Change of ownership18.2%10
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 48 | 87.3% | |
| 2 | SBA Express Program | 7 | 12.7% |
Franchise share
11 of 55 approvals in FY2021–FY2025 (20.0%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Crumbl | 3 | 5.5% | |
| 2 | Code Wiz | 3 | 5.5% | |
| 3 | The Spectrum Kid's Gyms | 1 | 1.8% | |
| 4 | Earthwise Pet | 1 | 1.8% | |
| 5 | Schooley Mitchell | 1 | 1.8% |
Questions and answers
How many SBA loans does Northern Bank and Trust Company make?
SBA approved 5 7(a) loans through Northern Bank and Trust Company in FY2025, worth $7.9M, and 55 over FY2021 to FY2025. That ranks 475th of 2,184 active 7(a) lenders by number of approvals.
How large are Northern Bank and Trust Company's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $256K and the average $510K. The program-wide median was $190K.
What is Northern Bank and Trust Company's charge-off rate?
Of 56 disbursed loans approved in FY2010 to FY2021, SBA records 3 as charged off (5.4%), 26 as paid in full and 27 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 Northern Bank and Trust Company lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (18); consumer goods rental (4); personal care services (3); lessors of real estate (3).
Where does Northern Bank and Trust Company make SBA loans?
In 8 states and territories. Massachusetts 48, Florida 1, New Hampshire 1, Vermont 1, North Carolina 1. In Massachusetts it accounts for 0.6% of all 7(a) approvals.
Is Northern Bank and Trust Company's SBA lending rising?
Approvals in the three latest complete fiscal years total 18, against 47 in the three before: falling (-62%).
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