States › Maine
State0.6% of US approvals88 lenders active
SBA loans in Maine
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.
Businesses in Maine received 1,996 SBA loan approvals worth $652M in FY2021 to FY2025, 1,654 of them 7(a) loans and 342 504 loans.
That is 46.0 approvals for every 1,000 business establishments in the state, against 41.0 nationally, and 0.6% of all approvals in the country (37th of 54 states and territories).
In FY2025 there were 465 approvals totalling $147M, up 11% on FY2024. The median 7(a) approval over the five years was $100K and the median 504 approval $385K.
88 lenders had at least one approval in the state; by number of 7(a) approvals the most active were TD Bank, National Association (314), Bangor Savings Bank (246) and Maine Community Bank (213).
Of 7(a) loans approved in FY2010 to FY2021 and disbursed, SBA records 4.3% as charged off, against 6.6% nationally.
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 Maine
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.
| # | Lender | Approvals in ME, FY2021–25 | Dollars | Share | Median approval, all states | FY2016–26 | Charged off, FY2010–21 loans |
|---|---|---|---|---|---|---|---|
| 1 | TD Bank, National AssociationWilmington, DE | 314 | $36.4M | 19.0% | $50K | 14.4% | |
| 2 | Bangor Savings BankBangor, ME | 246 | $43.7M | 14.9% | $125K | 2.6% | |
| 3 | Maine Community BankPortland, ME | 213 | $57.2M | 12.9% | $100K | 1.3% | |
| 4 | KeyBank National AssociationCleveland, OH | 75 | $11.1M | 4.5% | $75K | 4.3% | |
| 5 | Manufacturers and Traders Trust CompanyBuffalo, NY | 65 | $7.7M | 3.9% | $50K | 8.0% | |
| 6 | Katahdin Trust CompanyPatten, ME | 64 | $25.4M | 3.9% | $158K | 2.8% | |
| 7 | Kennebunk Savings BankKennebunk, ME | 63 | $17.0M | 3.8% | $203K | 1.3% | |
| 8 | Androscoggin Savings BankLewiston, ME | 60 | $16.6M | 3.6% | $115K | 0.0% | |
| 9 | Machias Savings BankMachias, ME | 57 | $20.5M | 3.4% | $160K | 7.3% | |
| 10 | Norway Savings BankNorway, ME | 51 | $17.5M | 3.1% | $105K | 0.0% | |
| 11 | Northeast BankLewiston, ME | 42 | $6.8M | 2.5% | $106K | 12.8% | |
| 12 | Bar Harbor Bank & TrustBar Harbor, ME | 40 | $5.1M | 2.4% | $73K | 2.6% | |
| 13 | Franklin Savings BankFarmington, ME | 36 | $5.3M | 2.2% | $115K | 4.3% | |
| 14 | Bath Savings InstitutionBath, ME | 27 | $8.1M | 1.6% | $105K | 7.7% | |
| 15 | BayFirst National BankSaint Petersburg, FL | 27 | $7.2M | 1.6% | $150K | 19.2% | |
| 16 | Atlantic Regional Federal Credit UnionSouth Portland, ME | 27 | $2.1M | 1.6% | $50K | — | |
| 17 | Live Oak Banking CompanyWilmington, NC | 22 | $32.5M | 1.3% | $850K | 2.2% | |
| 18 | Newtek Bank, National AssociationMiami, FL | 20 | $5.8M | 1.2% | $225K | — | |
| 19 | Camden National BankCamden, ME | 18 | $9.3M | 1.1% | $60K | 4.6% | |
| 20 | Readycap Lending, LLCBerkeley Heights, NJ | 16 | $5.2M | 1.0% | $138K | 4.3% | |
| 21 | Seaboard FCUBucksport, ME | 13 | $932K | 0.8% | $53K | 2.9% | |
| 22 | The Huntington National BankColumbus, OH | 11 | $2.8M | 0.7% | $92K | 5.7% | |
| 23 | Acadia FCUFort Kent, ME | 11 | $1.5M | 0.7% | $104K | — | |
| 24 | Empeople Credit UnionMoline, IL | 8 | $1.8M | 0.5% | $210K | 2.3% | |
| 25 | Saco and Biddeford Savings InstitutionSaco, ME | 7 | $1.4M | 0.4% | $296K | 0.0% | |
| 26 | Newtek Small Business Finance, Inc.Lake Success, NY | 7 | $1.0M | 0.4% | $300K | 6.8% | |
| 27 | Byline BankChicago, IL | 6 | $7.9M | 0.4% | $806K | 9.5% | |
| 28 | Partners Bank of New EnglandSanford, ME | 6 | $1.7M | 0.4% | $139K | 0.0% | |
| 29 | Celtic Bank CorporationSalt Lake City, UT | 6 | $620K | 0.4% | $150K | 17.0% | |
| 30 | Customers BankMalvern, PA | 5 | $8.1M | 0.3% | $500K | 6.8% | |
| 31 | United Midwest Savings Bank National AssociationDe Graff, OH | 5 | $1.7M | 0.3% | $150K | 15.9% | |
| 32 | Bank of America, National AssociationCharlotte, NC | 4 | $4.1M | 0.2% | $300K | 2.6% | |
| 33 | Eastern BankBoston, MA | 4 | $1.4M | 0.2% | $78K | 6.7% | |
| 34 | First Bank of the LakeOsage Beach, MO | 4 | $972K | 0.2% | $350K | 2.7% | |
| 35 | Colony BankFitzgerald, GA | 4 | $709K | 0.2% | $150K | 7.0% | |
| 36 | Ameris BankAtlanta, GA | 3 | $4.0M | 0.2% | $723K | 5.5% | |
| 37 | Citizens BankElizabethton, TN | 3 | $1.6M | 0.2% | $495K | 5.4% | |
| 38 | NBT Bank, National AssociationNorwich, NY | 3 | $672K | 0.2% | $200K | 5.7% | |
| 39 | Eastern Maine Development CorporationBangor, ME | 3 | $443K | 0.2% | $150K | 7.1% | |
| 40 | Hanover Community BankMineola, NY | 2 | — | 0.1% | $563K | 2.7% |
504 certified development companies
| # | Lender | Approvals in ME, FY2021–25 | Dollars | Share | Median approval, all states | FY2016–26 | Charged off, FY2010–21 loans |
|---|---|---|---|---|---|---|---|
| 1 | Granite State Economic Development CorporationPortsmouth, NH · 504 CDC | 310 | $200M | 90.6% | $363K | 1.5% | |
| 2 | Southern Maine Finance AgencyBiddeford, ME · 504 CDC | 20 | $8.8M | 5.8% | $309K | 4.0% | |
| 3 | New England Certified Development CorporationWakefield, MA · 504 CDC | 10 | $6.2M | 2.9% | $499K | 0.8% | |
| 4 | Eastern Maine Development CorporationBangor, ME · 504 CDC | 2 | — | 0.6% | — | 0.0% |
Fiscal-year ledger
| Fiscal year | 7(a) approvals | 7(a) dollars | Median 7(a) | 504 approvals | 504 dollars | All approvals | Jobs supported, as reported |
|---|---|---|---|---|---|---|---|
| FY2026* | 190 | $67.3M | $102K | 32 | $31.4M | 222 | 1,910 |
| FY2025 | 411 | $104M | $100K | 54 | $43.3M | 465 | 3,668 |
| FY2024 | 371 | $86.3M | $90K | 48 | $31.7M | 419 | 3,092 |
| FY2023 | 346 | $73.9M | $93K | 58 | $36.6M | 404 | 3,352 |
| FY2022 | 259 | $65.5M | $100K | 89 | $64.2M | 348 | 3,197 |
| FY2021 | 267 | $105M | $150K | 93 | $41.0M | 360 | 3,459 |
| FY2020 | 205 | $40.4M | $75K | 70 | $30.1M | 275 | 1,742 |
| FY2019 | 240 | $53.5M | $63K | 59 | $24.5M | 299 | 2,215 |
| FY2018 | 289 | $49.8M | $66K | 59 | $32.0M | 348 | 2,078 |
| FY2017 | 303 | $68.5M | $84K | 74 | $40.0M | 377 | 2,886 |
| FY2016 | 321 | $66.4M | $75K | 59 | $26.9M | 380 | 2,894 |
7(a) approvals504 approvals
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.
| # | County | Approvals | Dollars | Establishments | Per 1,000 establishments | By fiscal year |
|---|---|---|---|---|---|---|
| 1 | Cumberland County | 663 | $224M | 12,242 | 54.2 | |
| 2 | York County | 408 | $136M | 5,914 | 69.0 | |
| 3 | Penobscot County | 163 | $45.4M | 4,222 | 38.6 | |
| 4 | Androscoggin County | 139 | $51.6M | 2,877 | 48.3 | |
| 5 | Hancock County | 93 | $33.6M | 2,397 | 38.8 | |
| 6 | Oxford County | 78 | $14.4M | 1,381 | 56.5 | |
| 7 | Aroostook County | 78 | $20.1M | 1,903 | 41.0 | |
| 8 | Kennebec County | 71 | $24.9M | 3,318 | 21.4 | |
| 9 | Knox County | 70 | $24.4M | 1,823 | 38.4 | |
| 10 | Sagadahoc County | 48 | $12.8M | 1,011 | 47.5 | |
| 11 | Somerset County | 45 | $14.6M | 1,211 | 37.2 | |
| 12 | Lincoln County | 44 | $12.6M | 1,383 | 31.8 | |
| 13 | Waldo County | 38 | $9.3M | 1,003 | 37.9 | |
| 14 | Washington County | 21 | $5.1M | 845 | 24.9 | |
| 15 | Franklin County | 21 | $16.5M | 878 | 23.9 | |
| 16 | Piscataquis County | 16 | $6.6M | 465 | 34.4 |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 230 | $67.8M | 11.5% | |
| 2 | Services to Buildings and DwellingsNAICS 5617 | 86 | $16.6M | 4.3% | |
| 3 | Offices of Other Health PractitionersNAICS 6213 | 70 | $11.5M | 3.5% | |
| 4 | Traveler AccommodationNAICS 7211 | 68 | $73.3M | 3.4% | |
| 5 | Automotive Repair and MaintenanceNAICS 8111 | 66 | $17.9M | 3.3% | |
| 6 | Other Amusement and Recreation IndustriesNAICS 7139 | 61 | $19.4M | 3.1% | |
| 7 | Building Equipment ContractorsNAICS 2382 | 57 | $20.2M | 2.9% | |
| 8 | Personal Care ServicesNAICS 8121 | 51 | $7.8M | 2.6% | |
| 9 | Other Specialty Trade ContractorsNAICS 2389 | 47 | $10.2M | 2.4% | |
| 10 | Grocery StoresNAICS 4451 | 44 | $25.2M | 2.2% | |
| 11 | Residential Building ConstructionNAICS 2361 | 44 | $7.3M | 2.2% | |
| 12 | General Freight TruckingNAICS 4841 | 44 | $5.8M | 2.2% | |
| 13 | Child Day Care ServicesNAICS 6244 | 40 | $10.9M | 2.0% | |
| 14 | LoggingNAICS 1133 | 32 | $4.9M | 1.6% | |
| 15 | Building Finishing ContractorsNAICS 2383 | 32 | $3.3M | 1.6% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 369 | 18.5% | |
| 2 | Construction | 230 | 11.5% | |
| 3 | Retail Trade | 219 | 11.0% | |
| 4 | Other Services (except Public Administration) | 181 | 9.1% | |
| 5 | Health Care and Social Assistance | 174 | 8.7% | |
| 6 | Manufacturing | 173 | 8.7% | |
| 7 | Administrative and Support and Waste Management and Remediation Services | 134 | 6.7% | |
| 8 | Professional, Scientific, and Technical Services | 124 | 6.2% | |
| 9 | Transportation and Warehousing | 83 | 4.2% | |
| 10 | Arts, Entertainment, and Recreation | 78 | 3.9% |
Franchise brands
| # | Brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Aroma Joe’s | 8 | 0.4% | |
| 2 | Hannaford Bros. Co., LLC | 3 | 0.2% | |
| 3 | Home Instead | 3 | 0.2% | |
| 4 | Subway | 3 | 0.2% | |
| 5 | All Dry | 3 | 0.2% | |
| 6 | Coffee News | 3 | 0.2% | |
| 7 | Ford Motor Company Dealer Sales and Service Agreement | 2 | 0.1% | |
| 8 | Ace Hardware | 2 | 0.1% | |
| 9 | The Little Gym | 2 | 0.1% | |
| 10 | OTTO Protland Pizza | 2 | 0.1% |
How earlier loans turned out
| Loans approved FY2010–FY2021 | ME 7(a) | US 7(a) | ME 504 | US 504 |
|---|---|---|---|---|
| Approvals in these years | 3,794 | 639,905 | 701 | 85,591 |
| Cancelled or never disbursed | 409 | 79,313 | 62 | 12,514 |
| Disbursed loans | 3,385 | 560,592 | 639 | 73,077 |
| Paid in full | 2,851 | 435,813 | 290 | 35,491 |
| Charged off | 145 | 36,891 | 8 | 905 |
| Still outstanding (status exempt from disclosure) | 389 | 87,888 | 341 | 36,681 |
| Charged off, share of disbursed loans | 4.3% | 6.6% | 1.3% | 1.2% |
| Dollars charged off, share of disbursed dollars | 2.5% | 2.5% | 0.9% | 0.9% |
| Dollars charged off | $16.4M | $5.70bn | $2.6M | $499M |
Approval sizes
- $50,000 or less28.0%559
- $50,001 to $150,00025.6%511
- $150,001 to $350,00023.4%467
- $350,001 to $1 million16.2%323
- $1 million to $2 million4.3%86
- Over $2 million2.5%50
Age of the businesses
- Existing, more than 2 years old51.4%1,026
- New business, 2 years or less19.1%381
- Startup, loan funds will open the business21.2%424
- Change of ownership8.2%164
- Not answered0.1%1
Against the country
| FY2021–FY2025 | Maine | United States |
|---|---|---|
| Approvals per 1,000 establishments | 46.0 | 41.0 |
| Median 7(a) approval | $100K | $190K |
| Median 504 approval | $385K | $657K |
| 504 share of approvals | 17.1% | 11.0% |
| Jobs supported per approval, as reported | 8.4 | 10.5 |
| Approvals, change on FY2016–FY2020 | 19% | 10% |
Questions and answers
Which lenders make the most SBA loans in Maine?
By 7(a) approvals in FY2021 to FY2025: TD Bank, National Association (314), Bangor Savings Bank (246), Maine Community Bank (213), KeyBank National Association (75), Manufacturers and Traders Trust Company (65). For 504 loans: Granite State Economic Development Corporation (310), Southern Maine Finance Agency (20), New England Certified Development Corporation (10). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Maine?
The median 7(a) approval was $100K and the median 504 approval $385K; the average across both programs was $327K.
Which industries get the most SBA loans in Maine?
Restaurants and Other Eating Places (230); Services to Buildings and Dwellings (86); Offices of Other Health Practitioners (70); Traveler Accommodation (68); Automotive Repair and Maintenance (66).
Which Maine counties receive the most SBA loans?
Cumberland County (663), York County (408), Penobscot County (163), Androscoggin County (139), Hancock County (93), by approvals in FY2021 to FY2025.
Is SBA lending in Maine rising?
Approvals in the three latest complete fiscal years total 1,288, against 983 in the three before: rising (+31%).
What share of SBA loans in Maine are charged off?
Of 7(a) loans approved in FY2010 to FY2021 and disbursed, 4.3% are recorded as charged off (national: 6.6%); for 504 loans the figure is 1.3% (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