FY20211 Oct 2020 – 30 Sep 2021
SBA loans in Maine, FY2021
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 FY2021 (1 October 2020 to 30 September 2021) SBA approved 360 loans in Maine: 267 under 7(a) and 93 under 504, worth $146M.
That is up 31% on FY2020, when there were 275 approvals worth $70.5M.
Maine accounted for 0.6% of the 61,532 approvals nationwide that year. 43 lenders had at least one approval in the state; Granite State Economic Development Corporation had the most, 86.
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 Maine businesses in FY2021, of 43 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2020 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Granite State Economic Development Corporation | 504 | 86 | $37.9M | 23.9% | 62 | +24 |
| 2 | Bangor Savings Bank | 7(a) | 47 | $8.1M | 13.1% | 37 | +10 |
| 3 | Maine Community Bank | 7(a) | 22 | $4.3M | 6.1% | 9 | +13 |
| 4 | Kennebunk Savings Bank | 7(a) | 20 | $5.8M | 5.6% | 5 | +15 |
| 5 | TD Bank, National Association | 7(a) | 19 | $9.5M | 5.3% | 28 | -9 |
| 6 | KeyBank National Association | 7(a) | 19 | $4.7M | 5.3% | 11 | +8 |
| 7 | Franklin Savings Bank | 7(a) | 19 | $1.9M | 5.3% | 18 | +1 |
| 8 | Katahdin Trust Company | 7(a) | 14 | $13.1M | 3.9% | 6 | +8 |
| 9 | Machias Savings Bank | 7(a) | 13 | $3.3M | 3.6% | 3 | +10 |
| 10 | Camden National Bank | 7(a) | 11 | $7.2M | 3.1% | 15 | -4 |
| 11 | Norway Savings Bank | 7(a) | 9 | $2.0M | 2.5% | 11 | -2 |
| 12 | Bath Savings Institution | 7(a) | 8 | $2.2M | 2.2% | 8 | 0 |
| 13 | New England Certified Development Corporation | 504 | 7 | $3.1M | 1.9% | 7 | 0 |
| 14 | Acadia FCU | 7(a) | 7 | $1.0M | 1.9% | 2 | +5 |
| 15 | Live Oak Banking Company | 7(a) | 6 | $4.7M | 1.7% | 6 | 0 |
| 16 | Partners Bank of New England | 7(a) | 6 | $1.7M | 1.7% | 6 | 0 |
| 17 | Empeople Credit Union | 7(a) | 6 | $964K | 1.7% | 13 | -7 |
| 18 | Byline Bank | 7(a) | 4 | $5.2M | 1.1% | 1 | +3 |
| 19 | Manufacturers and Traders Trust Company | 7(a) | 4 | $900K | 1.1% | 3 | +1 |
| 20 | Bar Harbor Bank & Trust | 7(a) | 4 | $700K | 1.1% | 0 | new |
| 21 | Androscoggin Savings Bank | 7(a) | 2 | — | 0.6% | 1 | +1 |
| 22 | Ameris Bank | 7(a) | 2 | — | 0.6% | 0 | new |
| 23 | BayFirst National Bank | 7(a) | 2 | — | 0.6% | 2 | 0 |
| 24 | Readycap Lending, LLC | 7(a) | 2 | — | 0.6% | 0 | new |
| 25 | SouthState Bank, National Association | 7(a) | 2 | — | 0.6% | 0 | new |
| 26 | Atlantic Regional Federal Credit Union | 7(a) | 2 | — | 0.6% | 2 | 0 |
| 27 | Beacon Bank and Trust | 7(a) | 1 | — | 0.3% | 0 | new |
| 28 | Stone Bank | 7(a) | 1 | — | 0.3% | 0 | new |
| 29 | Skowhegan Savings Bank | 7(a) | 1 | — | 0.3% | 1 | 0 |
| 30 | United Community Bank | 7(a) | 1 | — | 0.3% | 0 | new |
| 31 | Gulf Coast Bank and Trust Company | 7(a) | 1 | — | 0.3% | 0 | new |
| 32 | Citizens Bank | 7(a) | 1 | — | 0.3% | 0 | new |
| 33 | First Bank of the Lake | 7(a) | 1 | — | 0.3% | 0 | new |
| 34 | Craft Bank | 7(a) | 1 | — | 0.3% | 0 | new |
| 35 | Harvest Small Business Finance, LLC | 7(a) | 1 | — | 0.3% | 0 | new |
| 36 | MVB Bank, Inc. | 7(a) | 1 | — | 0.3% | 0 | new |
| 37 | Colony Bank | 7(a) | 1 | — | 0.3% | 0 | new |
| 38 | Five Star Bank | 7(a) | 1 | — | 0.3% | 0 | new |
| 39 | United Midwest Savings Bank National Association | 7(a) | 1 | — | 0.3% | 0 | new |
| 40 | Seaboard FCU | 7(a) | 1 | — | 0.3% | 3 | -2 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2020 | Change |
|---|---|---|---|---|---|---|
| 1 | Cumberland County | 108 | $44.3M | 30.0% | 86 | +22 |
| 2 | York County | 88 | $37.7M | 24.4% | 59 | +29 |
| 3 | Penobscot County | 34 | $16.4M | 9.4% | 32 | +2 |
| 4 | Aroostook County | 22 | $6.4M | 6.1% | 12 | +10 |
| 5 | Hancock County | 18 | $2.7M | 5.0% | 14 | +4 |
| 6 | Androscoggin County | 17 | $5.6M | 4.7% | 13 | +4 |
| 7 | Sagadahoc County | 11 | $2.6M | 3.1% | 5 | +6 |
| 8 | Waldo County | 11 | $3.1M | 3.1% | 8 | +3 |
| 9 | Knox County | 11 | $7.1M | 3.1% | 6 | +5 |
| 10 | Kennebec County | 10 | $6.3M | 2.8% | 14 | -4 |
| 11 | Oxford County | 9 | $1.4M | 2.5% | 10 | -1 |
| 12 | Somerset County | 6 | $4.4M | 1.7% | 3 | +3 |
| 13 | Piscataquis County | 4 | $1.7M | 1.1% | 1 | +3 |
| 14 | Washington County | 4 | $304K | 1.1% | 4 | 0 |
| 15 | Lincoln County | 4 | $825K | 1.1% | 4 | 0 |
| 16 | Franklin County | 3 | $5.3M | 0.8% | 4 | -1 |
FY2021 against FY2020
| Maine | FY2021 | FY2020 |
|---|---|---|
| 7(a) approvals | 267 | 205 |
| 7(a) dollars | $105M | $40.4M |
| Median 7(a) approval | $150K | $75K |
| 504 approvals | 93 | 70 |
| 504 dollars | $41.0M | $30.1M |
| Jobs supported, as reported | 3,459 | 1,742 |
Questions and answers
Which lenders made the most SBA loans in Maine in FY2021?
Granite State Economic Development Corporation (86), Bangor Savings Bank (47), Maine Community Bank (22), Kennebunk Savings Bank (20), TD Bank, National Association (19). 43 lenders had at least one approval.
How many SBA loans were approved in Maine in FY2021?
360: 267 under 7(a) worth $105M and 93 under 504 worth $41.0M.
Which Maine counties had the most SBA approvals in FY2021?
Cumberland County (108), York County (88), Penobscot County (34), Aroostook County (22), Hancock County (18).
When does FY2021 start and end?
The federal fiscal year 2021 runs from 1 October 2020 to 30 September 2021.
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