FY20231 Oct 2022 – 30 Sep 2023
SBA loans in Maine, FY2023
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 FY2023 (1 October 2022 to 30 September 2023) SBA approved 404 loans in Maine: 346 under 7(a) and 58 under 504, worth $111M.
That is up 16% on FY2022, when there were 348 approvals worth $130M.
Maine accounted for 0.6% of the 63,286 approvals nationwide that year. 38 lenders had at least one approval in the state; TD Bank, National Association had the most, 79.
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 38 lenders with the most approvals to Maine businesses in FY2023, of 38 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2022 | Change |
|---|---|---|---|---|---|---|---|
| 1 | TD Bank, National Association | 7(a) | 79 | $6.5M | 19.6% | 38 | +41 |
| 2 | Bangor Savings Bank | 7(a) | 58 | $10.5M | 14.4% | 44 | +14 |
| 3 | Granite State Economic Development Corporation | 504 | 54 | $35.2M | 13.4% | 83 | -29 |
| 4 | Maine Community Bank | 7(a) | 53 | $13.9M | 13.1% | 45 | +8 |
| 5 | Androscoggin Savings Bank | 7(a) | 19 | $4.8M | 4.7% | 12 | +7 |
| 6 | KeyBank National Association | 7(a) | 19 | $1.8M | 4.7% | 19 | 0 |
| 7 | Manufacturers and Traders Trust Company | 7(a) | 14 | $690K | 3.5% | 7 | +7 |
| 8 | Katahdin Trust Company | 7(a) | 13 | $4.2M | 3.2% | 9 | +4 |
| 9 | BayFirst National Bank | 7(a) | 11 | $1.7M | 2.7% | 2 | +9 |
| 10 | Norway Savings Bank | 7(a) | 9 | $1.4M | 2.2% | 3 | +6 |
| 11 | Kennebunk Savings Bank | 7(a) | 8 | $1.8M | 2.0% | 20 | -12 |
| 12 | Franklin Savings Bank | 7(a) | 7 | $765K | 1.7% | 1 | +6 |
| 13 | Machias Savings Bank | 7(a) | 6 | $2.8M | 1.5% | 12 | -6 |
| 14 | Customers Bank | 7(a) | 4 | $4.9M | 1.0% | 0 | new |
| 15 | Southern Maine Finance Agency | 504 | 4 | $1.4M | 1.0% | 1 | +3 |
| 16 | Newtek Bank, National Association | 7(a) | 4 | $1.3M | 1.0% | 0 | new |
| 17 | Bath Savings Institution | 7(a) | 4 | $588K | 1.0% | 4 | 0 |
| 18 | Bar Harbor Bank & Trust | 7(a) | 4 | $284K | 1.0% | 2 | +2 |
| 19 | Live Oak Banking Company | 7(a) | 3 | $6.7M | 0.7% | 6 | -3 |
| 20 | Readycap Lending, LLC | 7(a) | 3 | $1.4M | 0.7% | 1 | +2 |
| 21 | Camden National Bank | 7(a) | 3 | $479K | 0.7% | 3 | 0 |
| 22 | Northeast Bank | 7(a) | 3 | $367K | 0.7% | 1 | +2 |
| 23 | Bank of America, National Association | 7(a) | 2 | — | 0.5% | 0 | new |
| 24 | The Huntington National Bank | 7(a) | 2 | — | 0.5% | 3 | -1 |
| 25 | Atlantic Regional Federal Credit Union | 7(a) | 2 | — | 0.5% | 1 | +1 |
| 26 | Webster Bank National Association | 7(a) | 2 | — | 0.5% | 0 | new |
| 27 | Seaboard FCU | 7(a) | 2 | — | 0.5% | 3 | -1 |
| 28 | Newtek Small Business Finance, Inc. | 7(a) | 2 | — | 0.5% | 4 | -2 |
| 29 | Ameris Bank | 7(a) | 1 | — | 0.2% | 0 | new |
| 30 | 22nd State Bank, A Division of 22nd State Banking Company | 7(a) | 1 | — | 0.2% | 0 | new |
| 31 | First National Bank of Pennsylvania | 7(a) | 1 | — | 0.2% | 0 | new |
| 32 | First-Citizens Bank & Trust Company | 7(a) | 1 | — | 0.2% | 0 | new |
| 33 | Five Star Bank | 7(a) | 1 | — | 0.2% | 0 | new |
| 34 | Leader Bank, National Association | 7(a) | 1 | — | 0.2% | 0 | new |
| 35 | Eastern Maine Development Corporation | 7(a) | 1 | — | 0.2% | 1 | 0 |
| 36 | United Midwest Savings Bank National Association | 7(a) | 1 | — | 0.2% | 1 | 0 |
| 37 | Celtic Bank Corporation | 7(a) | 1 | — | 0.2% | 1 | 0 |
| 38 | Service FCU | 7(a) | 1 | — | 0.2% | 0 | new |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2022 | Change |
|---|---|---|---|---|---|---|
| 1 | Cumberland County | 136 | $35.1M | 33.7% | 133 | +3 |
| 2 | York County | 68 | $17.6M | 16.8% | 67 | +1 |
| 3 | Penobscot County | 37 | $10.0M | 9.2% | 24 | +13 |
| 4 | Androscoggin County | 34 | $15.5M | 8.4% | 26 | +8 |
| 5 | Oxford County | 25 | $5.4M | 6.2% | 5 | +20 |
| 6 | Knox County | 20 | $5.5M | 5.0% | 9 | +11 |
| 7 | Hancock County | 18 | $9.4M | 4.5% | 13 | +5 |
| 8 | Somerset County | 13 | $4.5M | 3.2% | 8 | +5 |
| 9 | Aroostook County | 11 | $651K | 2.7% | 15 | -4 |
| 10 | Sagadahoc County | 11 | $2.4M | 2.7% | 5 | +6 |
| 11 | Kennebec County | 11 | $2.3M | 2.7% | 8 | +3 |
| 12 | Lincoln County | 7 | $473K | 1.7% | 10 | -3 |
| 13 | Waldo County | 6 | $656K | 1.5% | 11 | -5 |
| 14 | Washington County | 4 | $340K | 1.0% | 3 | +1 |
| 15 | Franklin County | 2 | — | 0.5% | 8 | -6 |
| 16 | Piscataquis County | 1 | — | 0.2% | 3 | -2 |
FY2023 against FY2022
| Maine | FY2023 | FY2022 |
|---|---|---|
| 7(a) approvals | 346 | 259 |
| 7(a) dollars | $73.9M | $65.5M |
| Median 7(a) approval | $93K | $100K |
| 504 approvals | 58 | 89 |
| 504 dollars | $36.6M | $64.2M |
| Jobs supported, as reported | 3,352 | 3,197 |
Questions and answers
Which lenders made the most SBA loans in Maine in FY2023?
TD Bank, National Association (79), Bangor Savings Bank (58), Granite State Economic Development Corporation (54), Maine Community Bank (53), Androscoggin Savings Bank (19). 38 lenders had at least one approval.
How many SBA loans were approved in Maine in FY2023?
404: 346 under 7(a) worth $73.9M and 58 under 504 worth $36.6M.
Which Maine counties had the most SBA approvals in FY2023?
Cumberland County (136), York County (68), Penobscot County (37), Androscoggin County (34), Oxford County (25).
When does FY2023 start and end?
The federal fiscal year 2023 runs from 1 October 2022 to 30 September 2023.
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