SBA loans in Connecticut, FY2024

That fiscal year's approvals by lender and by county.

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 FY2024 (1 October 2023 to 30 September 2024) SBA approved 975 loans in Connecticut: 902 under 7(a) and 73 under 504, worth $382M.

That is up 17% on FY2023, when there were 834 approvals worth $362M.

Connecticut accounted for 1.3% of the 76,235 approvals nationwide that year. 76 lenders had at least one approval in the state; Manufacturers and Traders Trust Company had the most, 168.

975approvalsFY2023: 834

$382Mdollars approvedFY2023: $362M

$120Kmedian 7(a) approvalFY2023: $130K

76lenders with an approval

9,440jobs supported, as reported

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.

Approvals by lender

The 40 lenders with the most approvals to Connecticut businesses in FY2024, of 76 active.

#	Lender	Program	Approvals	Dollars	Share of state	FY2023	Change
1	Manufacturers and Traders Trust Company	7(a)	168	$19.0M	17.2%	126	+42
2	TD Bank, National Association	7(a)	98	$9.2M	10.1%	111	-13
3	Webster Bank National Association	7(a)	95	$31.4M	9.7%	117	-22
4	Newtek Bank, National Association	7(a)	64	$35.4M	6.6%	25	+39
5	Liberty Bank	7(a)	40	$10.7M	4.1%	25	+15
6	Northeast Bank	7(a)	38	$5.1M	3.9%	4	+34
7	BayFirst National Bank	7(a)	38	$5.0M	3.9%	27	+11
8	New England Certified Development Corporation	504	36	$33.7M	3.7%	46	-10
9	KeyBank National Association	7(a)	36	$6.7M	3.7%	41	-5
10	Readycap Lending, LLC	7(a)	32	$9.8M	3.3%	10	+22
11	Community Investment Corporation	504	31	$26.4M	3.2%	39	-8
12	Live Oak Banking Company	7(a)	24	$35.6M	2.5%	17	+7
13	The Huntington National Bank	7(a)	24	$7.6M	2.5%	31	-7
14	JPMorgan Chase Bank, National Association	7(a)	22	$3.2M	2.3%	11	+11
15	Beacon Bank and Trust	7(a)	18	$12.5M	1.8%	13	+5
16	Bank of America, National Association	7(a)	17	$8.3M	1.7%	11	+6
17	Celtic Bank Corporation	7(a)	15	$17.7M	1.5%	14	+1
18	Ives Bank	7(a)	15	$7.3M	1.5%	11	+4
19	United Midwest Savings Bank National Association	7(a)	15	$6.2M	1.5%	2	+13
20	First Bank of the Lake	7(a)	10	$3.3M	1.0%	3	+7
21	Newtown Savings Bank	7(a)	10	$2.8M	1.0%	5	+5
22	Wells Fargo Bank National Association	7(a)	8	$1.7M	0.8%	11	-3
23	Union Savings Bank	7(a)	8	$1.6M	0.8%	1	+7
24	Connecticut Community Bank, National Association	7(a)	7	$5.0M	0.7%	8	-1
25	Ion Bank	7(a)	6	$6.1M	0.6%	4	+2
26	Lendistry SBLC, LLC	7(a)	5	$440K	0.5%	1	+4
27	CIBC Bank USA	7(a)	4	$4.5M	0.4%	1	+3
28	Bay Colony Development Corporation	504	4	$1.9M	0.4%	4	0
29	New Valley Bank & Trust	7(a)	4	$1.0M	0.4%	1	+3
30	Citizens Bank, National Association	7(a)	4	$890K	0.4%	7	-3
31	Torrington Savings Bank	7(a)	4	$721K	0.4%	8	-4
32	Colony Bank	7(a)	4	$548K	0.4%	1	+3
33	Harvest Small Business Finance, LLC	7(a)	3	$3.1M	0.3%	1	+2
34	Rockland Trust Company	7(a)	3	$1.4M	0.3%	1	+2
35	TowneBank	7(a)	3	$1.1M	0.3%	1	+2
36	Tompkins Community Bank	7(a)	3	$632K	0.3%	0	new
37	Community Investment Corporation	7(a)	3	$590K	0.3%	10	-7
38	Community Capital New York, Inc.	7(a)	3	$450K	0.3%	0	new
39	Santander Bank, National Association	7(a)	3	$220K	0.3%	0	new
40	First Merchants Bank	7(a)	2	—	0.2%	0	new

Approvals by county

#	County	Approvals	Dollars	Share of state	FY2023	Change
1	Capitol Planning Region	211	$87.9M	21.6%	181	+30
2	Western Connecticut Planning Region	155	$55.7M	15.9%	137	+18
3	South Central Connecticut Planning Region	126	$58.9M	12.9%	99	+27
4	Naugatuck Valley Planning Region	86	$26.1M	8.8%	73	+13
5	Greater Bridgeport Planning Region	83	$25.7M	8.5%	60	+23
6	Hartford County	65	$23.5M	6.7%	57	+8
7	Fairfield County	54	$39.9M	5.5%	66	-12
8	New Haven County	43	$10.9M	4.4%	34	+9
9	Northwest Hills Planning Region	40	$9.1M	4.1%	12	+28
10	Southeastern Connecticut Planning Region	37	$20.2M	3.8%	29	+8
11	Lower Connecticut River Valley Planning Region	27	$6.1M	2.8%	32	-5
12	Middlesex County	11	$4.2M	1.1%	8	+3
13	Northeastern Connecticut Planning Region	10	$1.5M	1.0%	18	-8
14	Litchfield County	8	$5.1M	0.8%	8	0
15	New London County	8	$2.6M	0.8%	9	-1
16	Tolland County	7	$3.2M	0.7%	6	+1
17	Windham County	4	$1.1M	0.4%	5	-1

FY2024 against FY2023

Connecticut	FY2024	FY2023
7(a) approvals	902	744
7(a) dollars	$319M	$290M
Median 7(a) approval	$120K	$130K
504 approvals	73	90
504 dollars	$62.7M	$71.7M
Jobs supported, as reported	9,440	7,901

Questions and answers

Which lenders made the most SBA loans in Connecticut in FY2024?

Manufacturers and Traders Trust Company (168), TD Bank, National Association (98), Webster Bank National Association (95), Newtek Bank, National Association (64), Liberty Bank (40). 76 lenders had at least one approval.

How many SBA loans were approved in Connecticut in FY2024?

975: 902 under 7(a) worth $319M and 73 under 504 worth $62.7M.

Which Connecticut counties had the most SBA approvals in FY2024?

Capitol Planning Region (211), Western Connecticut Planning Region (155), South Central Connecticut Planning Region (126), Naugatuck Valley Planning Region (86), Greater Bridgeport Planning Region (83).

When does FY2024 start and end?

The federal fiscal year 2024 runs from 1 October 2023 to 30 September 2024.

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