Lenders › Shoreham Bank
7(a) lenderWarwick, Rhode IslandFDIC-insured bank112th of 2,184 by approvals
Shoreham 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 332 7(a) loans, worth $608M, through Shoreham Bank of Warwick, Rhode Island, an FDIC-insured bank in the SBA 7(a) program. By number of approvals that is 112th among 2,184 active 7(a) lenders.
In FY2025, the latest complete fiscal year, it had 153 approvals totalling $141M, up 135% on FY2024 (65). FY2026 to 30 Jun 2026 adds 44 more.
The median approval was $1.4M, against $190K for the 7(a) program as a whole; 32.2% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 43 states and territories and 212 counties, led by Ohio (13.3%), Michigan (10.5%) and Indiana (9.6%). The largest industry group was accommodation and food services at 62.3% of approvals, and 39.2% of approvals were to franchise businesses.
Of 181 disbursed loans approved in FY2010 to FY2021, SBA records 4 as charged off (2.2%), 126 as paid in full and 51 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* | 44 | $83.5M | $1.8M | $1.9M | 712 |
| FY2025 | 153 | $141M | $150K | $921K | 1,642 |
| FY2024 | 65 | $135M | $2.0M | $2.1M | 649 |
| FY2023 | 35 | $105M | $3.0M | $3.0M | 437 |
| FY2022 | 39 | $101M | $2.4M | $2.6M | 436 |
| FY2021 | 40 | $125M | $3.2M | $3.1M | 596 |
| FY2020 | 26 | $64.7M | $2.4M | $2.5M | 337 |
| FY2019 | 17 | $53.8M | $2.9M | $3.2M | 268 |
| FY2018 | 10 | $28.8M | $3.5M | $2.9M | 169 |
| FY2017 | 6 | $6.1M | $800K | $1.0M | 29 |
| FY2016 | 16 | $14.0M | $505K | $874K | 179 |
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 75 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 | Ohio | 7(a) program |
|---|---|---|---|
| Approvals in these years | 197 | 36,740 | 639,905 |
| Cancelled or never disbursed | 16 | 5,259 | 79,313 |
| Disbursed loans | 181 | 31,481 | 560,592 |
| Paid in full | 126 | 25,599 | 435,813 |
| Charged off | 4 | 1,791 | 36,891 |
| Still outstanding (status exempt from disclosure) | 51 | 4,091 | 87,888 |
| Charged off, share of disbursed loans | 2.2% | 5.7% | 6.6% |
| Dollars charged off, share of disbursed dollars | 0.8% | 2.7% | 2.5% |
| Dollars charged off | $2.8M | $213M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 38 | 25 | 0 | 0.0% | 2.8% |
| FY2020 | 24 | 13 | 0 | — | 4.0% |
| FY2019 | 16 | 8 | 2 | — | 6.7% |
| FY2018 | 10 | 5 | 0 | — | 7.9% |
| FY2017 | 5 | 4 | 0 | — | 7.7% |
| FY2016 | 14 | 10 | 0 | — | 7.2% |
| FY2015 | 4 | 2 | 0 | — | 6.9% |
| FY2014 | 4 | 2 | 1 | — | 6.4% |
| FY2013 | 18 | 16 | 0 | — | 6.0% |
| FY2012 | 15 | 13 | 0 | — | 6.3% |
| FY2011 | 20 | 18 | 1 | — | 6.9% |
| FY2010 | 13 | 10 | 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 | $1.4M | $190K |
| Average approval | $1.8M | $518K |
| Approvals of $150,000 or less | 32.2% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 43.4% | 34.3% |
| Approvals to franchise businesses | 39.2% | 11.5% |
| Jobs supported per approval, as reported | 11.3 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 2.2% | 6.6% |
States served
| # | State of the business (43 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Ohio | 44 | $119M | 13.3% | |
| 2 | Michigan | 35 | $82.7M | 10.5% | |
| 3 | Indiana | 32 | $65.8M | 9.6% | |
| 4 | Florida | 14 | $38.3M | 4.2% | |
| 5 | Texas | 14 | $22.2M | 4.2% | |
| 6 | Illinois | 14 | $17.6M | 4.2% | |
| 7 | California | 14 | $3.6M | 4.2% | |
| 8 | Wisconsin | 13 | $38.0M | 3.9% | |
| 9 | New York | 13 | $13.3M | 3.9% | |
| 10 | Pennsylvania | 11 | $32.2M | 3.3% | |
| 11 | Rhode Island | 11 | $8.9M | 3.3% | |
| 12 | Georgia | 8 | $7.0M | 2.4% |
In Ohio the lender accounts for 0.2% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (212 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Wayne County, MI | 9 | $16.8M | 2.7% | |
| 2 | Marion County, IN | 8 | $17.2M | 2.4% | |
| 3 | Stark County, OH | 7 | $20.2M | 2.1% | |
| 4 | Harris County, TX | 5 | $16.3M | 1.5% | |
| 5 | Milwaukee County, WI | 5 | $15.9M | 1.5% | |
| 6 | Summit County, OH | 5 | $13.4M | 1.5% | |
| 7 | Oakland County, MI | 5 | $11.5M | 1.5% | |
| 8 | Kent County, RI | 5 | $6.9M | 1.5% | |
| 9 | Providence County, RI | 5 | $1.9M | 1.5% | |
| 10 | Allegheny County, PA | 4 | $14.3M | 1.2% | |
| 11 | Richland County, OH | 4 | $10.1M | 1.2% | |
| 12 | Lake County, IN | 4 | $8.8M | 1.2% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 207 | 62.3% | |
| 2 | Retail Trade | 23 | 6.9% | |
| 3 | Construction | 17 | 5.1% | |
| 4 | Other Services (except Public Administration) | 14 | 4.2% | |
| 5 | Professional, Scientific, and Technical Services | 12 | 3.6% | |
| 6 | Transportation and Warehousing | 11 | 3.3% | |
| 7 | Real Estate and Rental and Leasing | 10 | 3.0% | |
| 8 | Health Care and Social Assistance | 10 | 3.0% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Traveler AccommodationNAICS 7211 | 186 | 56.0% | |
| 2 | Restaurants and Other Eating PlacesNAICS 7225 | 17 | 5.1% | |
| 3 | General Freight TruckingNAICS 4841 | 10 | 3.0% | |
| 4 | Residential Building ConstructionNAICS 2361 | 8 | 2.4% | |
| 5 | Activities Related to Real EstateNAICS 5313 | 7 | 2.1% | |
| 6 | Services to Buildings and DwellingsNAICS 5617 | 6 | 1.8% | |
| 7 | Beer, Wine, and Liquor StoresNAICS 4453 | 5 | 1.5% | |
| 8 | Offices of Other Health PractitionersNAICS 6213 | 5 | 1.5% | |
| 9 | Automotive Repair and MaintenanceNAICS 8111 | 4 | 1.2% | |
| 10 | Gasoline StationsNAICS 4571 | 4 | 1.2% |
Approval sizes
- $50,000 or less2.4%8
- $50,001 to $150,00029.8%99
- $150,001 to $350,0002.1%7
- $350,001 to $1 million9.6%32
- $1 million to $2 million13.6%45
- Over $2 million42.5%141
Loan terms
- Over 5 to 10 years35.2%117
- Over 10 to 20 years1.2%4
- Over 20 years63.6%211
Age of the businesses
- Existing, more than 2 years old38.9%129
- New business, 2 years or less43.4%144
- Change of ownership17.8%59
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 321 | 96.7% | |
| 2 | 7a General | 11 | 3.3% |
Franchise share
130 of 332 approvals in FY2021–FY2025 (39.2%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | La Quinta by Wyndham | 17 | 5.1% | |
| 2 | Super 8 by Wyndhan | 14 | 4.2% | |
| 3 | Best Western | 10 | 3.0% | |
| 4 | Quality Inn | 10 | 3.0% | |
| 5 | Red Roof Inn | 10 | 3.0% | |
| 6 | Holiday Inn Express | 6 | 1.8% | |
| 7 | Days Inn | 5 | 1.5% | |
| 8 | Comfort Suites by Choice Hotels | 4 | 1.2% |
Questions and answers
How many SBA loans does Shoreham Bank make?
SBA approved 153 7(a) loans through Shoreham Bank in FY2025, worth $141M, and 332 over FY2021 to FY2025. That ranks 112th of 2,184 active 7(a) lenders by number of approvals.
How large are Shoreham Bank's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $1.4M and the average $1.8M. The program-wide median was $190K.
What is Shoreham Bank's charge-off rate?
Of 181 disbursed loans approved in FY2010 to FY2021, SBA records 4 as charged off (2.2%), 126 as paid in full and 51 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 Shoreham Bank lend to most?
By number of approvals in FY2021 to FY2025: traveler accommodation (186); restaurants and other eating places (17); general freight trucking (10); residential building construction (8).
Where does Shoreham Bank make SBA loans?
In 43 states and territories. Ohio 44, Michigan 35, Indiana 32, Florida 14, Texas 14. In Ohio it accounts for 0.2% of all 7(a) approvals.
Is Shoreham Bank's SBA lending rising?
Approvals in the three latest complete fiscal years total 253, against 105 in the three before: rising (+141%).
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