FY20221 Oct 2021 – 30 Sep 2022
SBA loans in Maine, FY2022
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 FY2022 (1 October 2021 to 30 September 2022) SBA approved 348 loans in Maine: 259 under 7(a) and 89 under 504, worth $130M.
That is about level with FY2021, when there were 360 approvals worth $146M.
Maine accounted for 0.6% of the 56,932 approvals nationwide that year. 41 lenders had at least one approval in the state; Granite State Economic Development Corporation had the most, 83.
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 FY2022, of 41 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2021 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Granite State Economic Development Corporation | 504 | 83 | $59.0M | 23.9% | 86 | -3 |
| 2 | Maine Community Bank | 7(a) | 45 | $9.6M | 12.9% | 22 | +23 |
| 3 | Bangor Savings Bank | 7(a) | 44 | $6.4M | 12.6% | 47 | -3 |
| 4 | TD Bank, National Association | 7(a) | 38 | $2.6M | 10.9% | 19 | +19 |
| 5 | Kennebunk Savings Bank | 7(a) | 20 | $5.5M | 5.7% | 20 | 0 |
| 6 | KeyBank National Association | 7(a) | 19 | $3.2M | 5.5% | 19 | 0 |
| 7 | Machias Savings Bank | 7(a) | 12 | $3.3M | 3.4% | 13 | -1 |
| 8 | Androscoggin Savings Bank | 7(a) | 12 | $2.0M | 3.4% | 2 | +10 |
| 9 | Katahdin Trust Company | 7(a) | 9 | $1.1M | 2.6% | 14 | -5 |
| 10 | Manufacturers and Traders Trust Company | 7(a) | 7 | $683K | 2.0% | 4 | +3 |
| 11 | Live Oak Banking Company | 7(a) | 6 | $8.1M | 1.7% | 6 | 0 |
| 12 | Bath Savings Institution | 7(a) | 4 | $1.0M | 1.1% | 8 | -4 |
| 13 | Newtek Small Business Finance, Inc. | 7(a) | 4 | $877K | 1.1% | 1 | +3 |
| 14 | Acadia FCU | 7(a) | 4 | $542K | 1.1% | 7 | -3 |
| 15 | Norway Savings Bank | 7(a) | 3 | $3.2M | 0.9% | 9 | -6 |
| 16 | New England Certified Development Corporation | 504 | 3 | $3.1M | 0.9% | 7 | -4 |
| 17 | The Huntington National Bank | 7(a) | 3 | $660K | 0.9% | 0 | new |
| 18 | Camden National Bank | 7(a) | 3 | $580K | 0.9% | 11 | -8 |
| 19 | Seaboard FCU | 7(a) | 3 | $88K | 0.9% | 1 | +2 |
| 20 | Eastern Maine Development Corporation | 504 | 2 | — | 0.6% | 0 | new |
| 21 | BayFirst National Bank | 7(a) | 2 | — | 0.6% | 2 | 0 |
| 22 | Empeople Credit Union | 7(a) | 2 | — | 0.6% | 6 | -4 |
| 23 | Bar Harbor Bank & Trust | 7(a) | 2 | — | 0.6% | 4 | -2 |
| 24 | Hanover Community Bank | 7(a) | 1 | — | 0.3% | 0 | new |
| 25 | Lincoln Savings Bank | 7(a) | 1 | — | 0.3% | 0 | new |
| 26 | Regions Bank | 7(a) | 1 | — | 0.3% | 0 | new |
| 27 | IncredibleBank | 7(a) | 1 | — | 0.3% | 0 | new |
| 28 | First Bank | 7(a) | 1 | — | 0.3% | 0 | new |
| 29 | Primary Bank | 7(a) | 1 | — | 0.3% | 0 | new |
| 30 | Southern Maine Finance Agency | 504 | 1 | — | 0.3% | 0 | new |
| 31 | Saco and Biddeford Savings Institution | 7(a) | 1 | — | 0.3% | 0 | new |
| 32 | Franklin Savings Bank | 7(a) | 1 | — | 0.3% | 19 | -18 |
| 33 | University Credit Union | 7(a) | 1 | — | 0.3% | 0 | new |
| 34 | Eastern Maine Development Corporation | 7(a) | 1 | — | 0.3% | 0 | new |
| 35 | First National Bank | 7(a) | 1 | — | 0.3% | 0 | new |
| 36 | United Midwest Savings Bank National Association | 7(a) | 1 | — | 0.3% | 1 | 0 |
| 37 | Lighthouse Federal Credit Union | 7(a) | 1 | — | 0.3% | 0 | new |
| 38 | Atlantic Regional Federal Credit Union | 7(a) | 1 | — | 0.3% | 2 | -1 |
| 39 | Northeast Bank | 7(a) | 1 | — | 0.3% | 0 | new |
| 40 | Celtic Bank Corporation | 7(a) | 1 | — | 0.3% | 0 | new |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2021 | Change |
|---|---|---|---|---|---|---|
| 1 | Cumberland County | 133 | $55.3M | 38.2% | 108 | +25 |
| 2 | York County | 67 | $22.7M | 19.3% | 88 | -21 |
| 3 | Androscoggin County | 26 | $14.4M | 7.5% | 17 | +9 |
| 4 | Penobscot County | 24 | $4.5M | 6.9% | 34 | -10 |
| 5 | Aroostook County | 15 | $3.0M | 4.3% | 22 | -7 |
| 6 | Hancock County | 13 | $4.4M | 3.7% | 18 | -5 |
| 7 | Waldo County | 11 | $2.5M | 3.2% | 11 | 0 |
| 8 | Lincoln County | 10 | $1.5M | 2.9% | 4 | +6 |
| 9 | Knox County | 9 | $3.8M | 2.6% | 11 | -2 |
| 10 | Kennebec County | 8 | $2.5M | 2.3% | 10 | -2 |
| 11 | Franklin County | 8 | $2.6M | 2.3% | 3 | +5 |
| 12 | Somerset County | 8 | $2.1M | 2.3% | 6 | +2 |
| 13 | Oxford County | 5 | $2.1M | 1.4% | 9 | -4 |
| 14 | Sagadahoc County | 5 | $2.7M | 1.4% | 11 | -6 |
| 15 | Piscataquis County | 3 | $2.6M | 0.9% | 4 | -1 |
| 16 | Washington County | 3 | $3.1M | 0.9% | 4 | -1 |
FY2022 against FY2021
| Maine | FY2022 | FY2021 |
|---|---|---|
| 7(a) approvals | 259 | 267 |
| 7(a) dollars | $65.5M | $105M |
| Median 7(a) approval | $100K | $150K |
| 504 approvals | 89 | 93 |
| 504 dollars | $64.2M | $41.0M |
| Jobs supported, as reported | 3,197 | 3,459 |
Questions and answers
Which lenders made the most SBA loans in Maine in FY2022?
Granite State Economic Development Corporation (83), Maine Community Bank (45), Bangor Savings Bank (44), TD Bank, National Association (38), Kennebunk Savings Bank (20). 41 lenders had at least one approval.
How many SBA loans were approved in Maine in FY2022?
348: 259 under 7(a) worth $65.5M and 89 under 504 worth $64.2M.
Which Maine counties had the most SBA approvals in FY2022?
Cumberland County (133), York County (67), Androscoggin County (26), Penobscot County (24), Aroostook County (15).
When does FY2022 start and end?
The federal fiscal year 2022 runs from 1 October 2021 to 30 September 2022.
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