SBA Ledger

States › Connecticut

State1.3% of US approvals159 lenders active

SBA loans in Connecticut

7(a) and 504 approvals by fiscal year, the lenders behind them, and where in the state they went. Pick a fiscal year for that year's lenders and counties.

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.

SBA approved 4,358 small business loans in Connecticut in FY2021 to FY2025: 3,919 under the 7(a) program and 439 under 504, worth $1.90bn together.

That is 48.8 approvals for every 1,000 business establishments in the state, against 41.0 nationally, and 1.3% of all approvals in the country (24th of 54 states and territories).

In FY2025 there were 1,091 approvals totalling $480M, up 12% on FY2024. The median 7(a) approval over the five years was $148K and the median 504 approval $494K.

159 lenders had at least one approval in the state; by number of 7(a) approvals the most active were Manufacturers and Traders Trust Company (684), Webster Bank National Association (589) and TD Bank, National Association (456).

Of 7(a) loans approved in FY2010 to FY2021 and disbursed, SBA records 6.3% as charged off, against 6.6% nationally.

1,091approvals, FY20254,358 in FY2021–FY2025
$480Mapproved, FY2025$1.90bn in FY2021–FY2025
48.8approvals per 1,000 establishments, FY2021–FY2025US: 41.0
$148Kmedian 7(a) approvalUS: $190K
6.3%7(a) loans approved FY2010–FY2021 charged offUS: 6.6%

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. Data through 30 Jun 2026.

Most active 7(a) lenders in Connecticut

Ranked by number of approvals to businesses in the state, FY2021–FY2025. The column of bars shows each lender's approvals here in every fiscal year; the charged-off column is the lender's nationwide figure.

#LenderApprovals in CT, FY2021–25DollarsShareMedian approval, all statesFY2016–26Charged off, FY2010–21 loans
1Manufacturers and Traders Trust CompanyBuffalo, NY684$88.4M17.5%$50K8.0%
2Webster Bank National AssociationWaterbury, CT589$202M15.0%$200K3.8%
3TD Bank, National AssociationWilmington, DE456$64.1M11.6%$50K14.4%
4Liberty BankMiddletown, CT212$46.3M5.4%$100K3.7%
5KeyBank National AssociationCleveland, OH183$35.2M4.7%$75K4.3%
6Newtek Bank, National AssociationMiami, FL146$75.8M3.7%$225K—
7Northeast BankLewiston, ME113$16.3M2.9%$106K12.8%
8The Huntington National BankColumbus, OH105$32.0M2.7%$92K5.7%
9Live Oak Banking CompanyWilmington, NC103$149M2.6%$850K2.2%
10BayFirst National BankSaint Petersburg, FL90$14.7M2.3%$150K19.2%
11Readycap Lending, LLCBerkeley Heights, NJ88$39.8M2.2%$138K4.3%
12Beacon Bank and TrustBrookline, MA67$68.4M1.7%$630K4.6%
13Ives BankDanbury, CT67$26.5M1.7%$250K4.8%
14Newtek Small Business Finance, Inc.Lake Success, NY65$49.7M1.7%$300K6.8%
15Celtic Bank CorporationSalt Lake City, UT61$66.2M1.6%$150K17.0%
16Bank of America, National AssociationCharlotte, NC50$22.3M1.3%$300K2.6%
17Wells Fargo Bank National AssociationSioux Falls, SD47$11.2M1.2%$15K7.9%
18JPMorgan Chase Bank, National AssociationColumbus, OH47$10.3M1.2%$200K7.4%
19United Midwest Savings Bank National AssociationDe Graff, OH39$10.8M1.0%$150K15.9%
20Connecticut Community Bank, National AssociationNorwalk, CT37$23.9M0.9%$489K0.0%
21Citizens Bank, National AssociationProvidence, RI35$21.4M0.9%$350K4.0%
22Thomaston Savings BankThomaston, CT32$10.9M0.8%$149K7.1%
23Community Investment CorporationHamden, CT29$4.9M0.7%$150K10.1%
24Ion BankNaugatuck, CT28$19.1M0.7%$304K2.9%
25Newtown Savings BankNewtown, CT27$6.8M0.7%$150K3.5%
26Torrington Savings BankTorrington, CT24$4.0M0.6%$113K—
27First Bank of the LakeOsage Beach, MO23$11.5M0.6%$350K2.7%
28Jewett City Savings BankJewett City, CT20$6.3M0.5%$200K2.2%
29First County BankStamford, CT15$8.3M0.4%$250K—
30Lendistry SBLC, LLCLos Angeles, CA15$3.3M0.4%$150K22.7%
31Santander Bank, National AssociationWilmington, DE14$773K0.4%$60K6.8%
32Byline BankChicago, IL13$15.7M0.3%$806K9.5%
33Harvest Small Business Finance, LLCLaguna Hills, CA11$7.9M0.3%$765K0.4%
34Colony BankFitzgerald, GA11$6.1M0.3%$150K7.0%
35Union Savings BankDanbury, CT11$1.9M0.3%$150K1.5%
36The Bancorp Bank National AssociationSioux Falls, SD10$4.8M0.3%$589K6.7%
37Hanover Community BankMineola, NY9$17.1M0.2%$563K2.7%
38First Merchants BankIndianapolis, IN8$10.0M0.2%$350K5.0%
39United Community BankGreenville, SC8$6.5M0.2%$550K4.5%
40NBT Bank, National AssociationNorwich, NY8$3.4M0.2%$200K5.7%

504 certified development companies

#LenderApprovals in CT, FY2021–25DollarsShareMedian approval, all statesFY2016–26Charged off, FY2010–21 loans
1New England Certified Development CorporationWakefield, MA · 504 CDC209$183M47.6%$499K0.8%
2Community Investment CorporationHamden, CT · 504 CDC191$144M43.5%$450K2.5%
3Bay Colony Development CorporationWaltham, MA · 504 CDC21$22.6M4.8%$417K1.3%
4Housatonic Industrial Development CorporationDanbury, CT · 504 CDC12$8.6M2.7%$526K0.0%
5Ocean State Business Development AuthorityWarwick, RI · 504 CDC3$1.2M0.7%$426K1.3%
6Granite State Economic Development CorporationPortsmouth, NH · 504 CDC2—0.5%$363K1.5%

Fiscal-year ledger

Fiscal year7(a) approvals7(a) dollarsMedian 7(a)504 approvals504 dollarsAll approvalsJobs supported, as reported
FY2026*649$203M$100K79$81.0M7285,149
FY20251,005$389M$130K86$90.9M1,0918,767
FY2024902$319M$120K73$62.7M9759,440
FY2023744$290M$130K90$71.7M8347,901
FY2022636$235M$125K104$70.8M7407,106
FY2021632$295M$200K86$71.5M7186,967
FY2020444$166M$125K73$40.0M5174,147
FY2019660$219M$100K64$40.6M7246,107
FY2018736$204M$100K72$46.7M8086,053
FY2017702$208M$100K66$33.0M7686,235
FY2016690$202M$100K55$35.8M7456,593

7(a) approvals504 approvals

919293949596979899000102030405060708091011121314151617181920212223242526
SBA approvals in Connecticut by fiscal year, FY1991 to FY2026.

Counties

Approvals in FY2021–FY2025 set against the Census Bureau's count of business establishments. Counties with at least 30 approvals have their own page.

#CountyApprovalsDollarsEstablishmentsPer 1,000 establishmentsBy fiscal year
1Capitol Planning Region905$398M23,64238.3
2Western Connecticut Planning Region686$334M19,95534.4
3South Central Connecticut Planning Region536$254M13,77938.9
4Naugatuck Valley Planning Region366$145M9,11440.2
5Fairfield County315$147M26,91511.7
6Greater Bridgeport Planning Region312$90.5M6,94145.0
7Hartford County299$112M22,54113.3
8New Haven County218$89.4M19,24911.3
9Lower Connecticut River Valley Planning Region171$77.3M4,48938.1
10Southeastern Connecticut Planning Region162$83.8M5,88327.5
11Northwest Hills Planning Region101$36.4M2,90934.7
12Northeastern Connecticut Planning Region82$30.8M1,75146.8
13Middlesex County54$28.7M4,20812.8
14Litchfield County54$26.7M4,68111.5
15New London County49$23.7M5,7518.5
16Tolland County27$8.9M2,33411.6
17Windham County21$9.1M2,1269.9

Industries

#Industry group (NAICS 4-digit)ApprovalsDollarsShare
1Restaurants and Other Eating PlacesNAICS 7225357$123M8.2%
2Services to Buildings and DwellingsNAICS 5617168$42.6M3.9%
3Building Equipment ContractorsNAICS 2382161$53.4M3.7%
4Personal Care ServicesNAICS 8121157$29.6M3.6%
5Residential Building ConstructionNAICS 2361153$31.6M3.5%
6Beer, Wine, and Liquor StoresNAICS 4453137$59.7M3.1%
7Automotive Repair and MaintenanceNAICS 8111124$53.0M2.8%
8Offices of Other Health PractitionersNAICS 6213120$29.5M2.8%
9Other Amusement and Recreation IndustriesNAICS 7139108$61.8M2.5%
10Building Finishing ContractorsNAICS 2383105$18.4M2.4%
11Other Specialty Trade ContractorsNAICS 238990$39.8M2.1%
12General Freight TruckingNAICS 484182$22.9M1.9%
13Child Day Care ServicesNAICS 624478$43.9M1.8%
14Other Personal ServicesNAICS 812977$28.4M1.8%
15Management, Scientific, and Technical Consulting ServicesNAICS 541674$17.7M1.7%

Sectors

#NAICS sectorApprovalsShare
1Construction63214.5%
2Retail Trade59713.7%
3Accommodation and Food Services46110.6%
4Health Care and Social Assistance45810.5%
5Other Services (except Public Administration)44010.1%
6Professional, Scientific, and Technical Services3678.4%
7Manufacturing3558.1%
8Administrative and Support and Waste Management and Remediation Services2706.2%
9Wholesale Trade1734.0%
10Transportation and Warehousing1613.7%

Franchise brands

#BrandApprovalsShare
1The Learning Experience110.3%
2The Goddard School60.1%
3The UPS Store60.1%
4Nautical Bowls50.1%
5Gameday Men's Health50.1%
6Subway50.1%
7Domino's Pizza40.1%
8Hammer & Nails Grooming For Guys40.1%
9Metal Supermarkets40.1%
10Ellie Mental Health40.1%

How earlier loans turned out

Connecticut, 7(a)6.3%
United States, 7(a)6.6%
Connecticut, 5041.6%
United States, 5041.2%
Share of disbursed loans approved FY2010–FY2021 that SBA records as charged off, by program.
Loans approved FY2010–FY2021CT 7(a)US 7(a)CT 504US 504
Approvals in these years7,226639,90581285,591
Cancelled or never disbursed96379,31313612,514
Disbursed loans6,263560,59267673,077
Paid in full4,827435,81327335,491
Charged off39736,89111905
Still outstanding (status exempt from disclosure)1,03987,88839236,681
Charged off, share of disbursed loans6.3%6.6%1.6%1.2%
Dollars charged off, share of disbursed dollars2.8%2.5%1.2%0.9%
Dollars charged off$56.3M$5.70bn$4.9M$499M

Approval sizes

Age of the businesses

Against the country

FY2021–FY2025ConnecticutUnited States
Approvals per 1,000 establishments48.841.0
Median 7(a) approval$148K$190K
Median 504 approval$494K$657K
504 share of approvals10.1%11.0%
Jobs supported per approval, as reported9.210.5
Approvals, change on FY2016–FY202022%10%

Questions and answers

Which lenders make the most SBA loans in Connecticut?

By 7(a) approvals in FY2021 to FY2025: Manufacturers and Traders Trust Company (684), Webster Bank National Association (589), TD Bank, National Association (456), Liberty Bank (212), KeyBank National Association (183). For 504 loans: New England Certified Development Corporation (209), Community Investment Corporation (191), Bay Colony Development Corporation (21). Volume says how active a lender is, nothing about terms or service.

How large are typical SBA loans in Connecticut?

The median 7(a) approval was $148K and the median 504 approval $494K; the average across both programs was $435K.

Which industries get the most SBA loans in Connecticut?

Restaurants and Other Eating Places (357); Services to Buildings and Dwellings (168); Building Equipment Contractors (161); Personal Care Services (157); Residential Building Construction (153).

Which Connecticut counties receive the most SBA loans?

Capitol Planning Region (905), Western Connecticut Planning Region (686), South Central Connecticut Planning Region (536), Naugatuck Valley Planning Region (366), Fairfield County (315), by approvals in FY2021 to FY2025.

Is SBA lending in Connecticut rising?

Approvals in the three latest complete fiscal years total 2,900, against 1,975 in the three before: rising (+47%).

What share of SBA loans in Connecticut are charged off?

Of 7(a) loans approved in FY2010 to FY2021 and disbursed, 6.3% are recorded as charged off (national: 6.6%); for 504 loans the figure is 1.6% (national: 1.2%). Newer loans are left out because most have not had time to reach either outcome.

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. Establishment counts are from the Census Bureau's County Business Patterns 2023, which leaves out most farms, government and businesses without employees. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error