FY20201 Oct 2019 – 30 Sep 2020
SBA loans in Maine, FY2020
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 FY2020 (1 October 2019 to 30 September 2020) SBA approved 275 loans in Maine: 205 under 7(a) and 70 under 504, worth $70.5M.
That is down 8% on FY2019, when there were 299 approvals worth $78.0M.
Maine accounted for 0.6% of the 49,417 approvals nationwide that year. 35 lenders had at least one approval in the state; Granite State Economic Development Corporation had the most, 62.
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 35 lenders with the most approvals to Maine businesses in FY2020, of 35 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2019 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Granite State Economic Development Corporation | 504 | 62 | $26.0M | 22.5% | 48 | +14 |
| 2 | Bangor Savings Bank | 7(a) | 37 | $3.4M | 13.5% | 52 | -15 |
| 3 | TD Bank, National Association | 7(a) | 28 | $1.2M | 10.2% | 51 | -23 |
| 4 | Franklin Savings Bank | 7(a) | 18 | $3.5M | 6.5% | 1 | +17 |
| 5 | Camden National Bank | 7(a) | 15 | $2.2M | 5.5% | 21 | -6 |
| 6 | Empeople Credit Union | 7(a) | 13 | $1.0M | 4.7% | 16 | -3 |
| 7 | KeyBank National Association | 7(a) | 11 | $2.9M | 4.0% | 7 | +4 |
| 8 | Norway Savings Bank | 7(a) | 11 | $2.4M | 4.0% | 5 | +6 |
| 9 | Maine Community Bank | 7(a) | 9 | $2.7M | 3.3% | 6 | +3 |
| 10 | Bath Savings Institution | 7(a) | 8 | $1.6M | 2.9% | 7 | +1 |
| 11 | New England Certified Development Corporation | 504 | 7 | $3.7M | 2.5% | 0 | new |
| 12 | Live Oak Banking Company | 7(a) | 6 | $4.8M | 2.2% | 4 | +2 |
| 13 | Partners Bank of New England | 7(a) | 6 | $2.8M | 2.2% | 8 | -2 |
| 14 | Katahdin Trust Company | 7(a) | 6 | $644K | 2.2% | 3 | +3 |
| 15 | Kennebunk Savings Bank | 7(a) | 5 | $272K | 1.8% | 7 | -2 |
| 16 | University Credit Union | 7(a) | 4 | $176K | 1.5% | 1 | +3 |
| 17 | Machias Savings Bank | 7(a) | 3 | $1.9M | 1.1% | 3 | 0 |
| 18 | Seaboard FCU | 7(a) | 3 | $101K | 1.1% | 4 | -1 |
| 19 | Manufacturers and Traders Trust Company | 7(a) | 3 | $75K | 1.1% | 8 | -5 |
| 20 | Atlantic Regional Federal Credit Union | 7(a) | 2 | — | 0.7% | 1 | +1 |
| 21 | BayFirst National Bank | 7(a) | 2 | — | 0.7% | 3 | -1 |
| 22 | Eastern Bank | 7(a) | 2 | — | 0.7% | 0 | new |
| 23 | Acadia FCU | 7(a) | 2 | — | 0.7% | 3 | -1 |
| 24 | Bank of America, National Association | 7(a) | 1 | — | 0.4% | 1 | 0 |
| 25 | Celtic Bank Corporation | 7(a) | 1 | — | 0.4% | 2 | -1 |
| 26 | Byline Bank | 7(a) | 1 | — | 0.4% | 2 | -1 |
| 27 | Newtek Small Business Finance, Inc. | 7(a) | 1 | — | 0.4% | 1 | 0 |
| 28 | Androscoggin Savings Bank | 7(a) | 1 | — | 0.4% | 0 | new |
| 29 | Skowhegan Savings Bank | 7(a) | 1 | — | 0.4% | 0 | new |
| 30 | Stearns Bank National Association | 7(a) | 1 | — | 0.4% | 4 | -3 |
| 31 | Eastern Maine Development Corporation | 504 | 1 | — | 0.4% | 1 | 0 |
| 32 | First State Bank Nebraska | 7(a) | 1 | — | 0.4% | 0 | new |
| 33 | Strafford Economic Development Corporation | 7(a) | 1 | — | 0.4% | 0 | new |
| 34 | Newburyport Five Cents Savings Bank | 7(a) | 1 | — | 0.4% | 0 | new |
| 35 | The Huntington National Bank | 7(a) | 1 | — | 0.4% | 0 | new |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2019 | Change |
|---|---|---|---|---|---|---|
| 1 | Cumberland County | 86 | $21.0M | 31.3% | 105 | -19 |
| 2 | York County | 59 | $18.1M | 21.5% | 73 | -14 |
| 3 | Penobscot County | 32 | $4.6M | 11.6% | 41 | -9 |
| 4 | Hancock County | 14 | $2.8M | 5.1% | 8 | +6 |
| 5 | Kennebec County | 14 | $1.5M | 5.1% | 4 | +10 |
| 6 | Androscoggin County | 13 | $3.2M | 4.7% | 14 | -1 |
| 7 | Aroostook County | 12 | $5.3M | 4.4% | 8 | +4 |
| 8 | Oxford County | 10 | $2.3M | 3.6% | 4 | +6 |
| 9 | Waldo County | 8 | $1.8M | 2.9% | 7 | +1 |
| 10 | Knox County | 6 | $2.7M | 2.2% | 8 | -2 |
| 11 | Sagadahoc County | 5 | $2.6M | 1.8% | 12 | -7 |
| 12 | Washington County | 4 | $1.2M | 1.5% | 0 | new |
| 13 | Franklin County | 4 | $1.1M | 1.5% | 2 | +2 |
| 14 | Lincoln County | 4 | $810K | 1.5% | 10 | -6 |
| 15 | Somerset County | 3 | $568K | 1.1% | 2 | +1 |
| 16 | Piscataquis County | 1 | — | 0.4% | 1 | 0 |
FY2020 against FY2019
| Maine | FY2020 | FY2019 |
|---|---|---|
| 7(a) approvals | 205 | 240 |
| 7(a) dollars | $40.4M | $53.5M |
| Median 7(a) approval | $75K | $63K |
| 504 approvals | 70 | 59 |
| 504 dollars | $30.1M | $24.5M |
| Jobs supported, as reported | 1,742 | 2,215 |
Questions and answers
Which lenders made the most SBA loans in Maine in FY2020?
Granite State Economic Development Corporation (62), Bangor Savings Bank (37), TD Bank, National Association (28), Franklin Savings Bank (18), Camden National Bank (15). 35 lenders had at least one approval.
How many SBA loans were approved in Maine in FY2020?
275: 205 under 7(a) worth $40.4M and 70 under 504 worth $30.1M.
Which Maine counties had the most SBA approvals in FY2020?
Cumberland County (86), York County (59), Penobscot County (32), Hancock County (14), Kennebec County (14).
When does FY2020 start and end?
The federal fiscal year 2020 runs from 1 October 2019 to 30 September 2020.
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