FY20241 Oct 2023 – 30 Sep 2024
SBA loans in Maine, FY2024
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 FY2024 (1 October 2023 to 30 September 2024) SBA approved 419 loans in Maine: 371 under 7(a) and 48 under 504, worth $118M.
That is about level with FY2023, when there were 404 approvals worth $111M.
Maine accounted for 0.5% of the 76,235 approvals nationwide that year. 41 lenders had at least one approval in the state; TD Bank, National Association had the most, 91.
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 FY2024, of 41 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2023 | Change |
|---|---|---|---|---|---|---|---|
| 1 | TD Bank, National Association | 7(a) | 91 | $11.0M | 21.7% | 79 | +12 |
| 2 | Maine Community Bank | 7(a) | 53 | $16.5M | 12.6% | 53 | 0 |
| 3 | Bangor Savings Bank | 7(a) | 47 | $7.7M | 11.2% | 58 | -11 |
| 4 | Granite State Economic Development Corporation | 504 | 44 | $30.2M | 10.5% | 54 | -10 |
| 5 | Norway Savings Bank | 7(a) | 19 | $6.8M | 4.5% | 9 | +10 |
| 6 | Katahdin Trust Company | 7(a) | 17 | $5.5M | 4.1% | 13 | +4 |
| 7 | Bar Harbor Bank & Trust | 7(a) | 17 | $1.6M | 4.1% | 4 | +13 |
| 8 | Machias Savings Bank | 7(a) | 16 | $9.5M | 3.8% | 6 | +10 |
| 9 | Manufacturers and Traders Trust Company | 7(a) | 10 | $2.1M | 2.4% | 14 | -4 |
| 10 | Northeast Bank | 7(a) | 10 | $740K | 2.4% | 3 | +7 |
| 11 | Kennebunk Savings Bank | 7(a) | 9 | $2.5M | 2.1% | 8 | +1 |
| 12 | KeyBank National Association | 7(a) | 8 | $460K | 1.9% | 19 | -11 |
| 13 | BayFirst National Bank | 7(a) | 7 | $917K | 1.7% | 11 | -4 |
| 14 | Androscoggin Savings Bank | 7(a) | 7 | $778K | 1.7% | 19 | -12 |
| 15 | Readycap Lending, LLC | 7(a) | 6 | $1.1M | 1.4% | 3 | +3 |
| 16 | Bath Savings Institution | 7(a) | 6 | $610K | 1.4% | 4 | +2 |
| 17 | Newtek Bank, National Association | 7(a) | 5 | $2.9M | 1.2% | 4 | +1 |
| 18 | Atlantic Regional Federal Credit Union | 7(a) | 5 | $280K | 1.2% | 2 | +3 |
| 19 | Southern Maine Finance Agency | 504 | 4 | $1.5M | 1.0% | 4 | 0 |
| 20 | Seaboard FCU | 7(a) | 4 | $401K | 1.0% | 2 | +2 |
| 21 | The Huntington National Bank | 7(a) | 3 | $955K | 0.7% | 2 | +1 |
| 22 | NBT Bank, National Association | 7(a) | 3 | $672K | 0.7% | 0 | new |
| 23 | Franklin Savings Bank | 7(a) | 3 | $650K | 0.7% | 7 | -4 |
| 24 | Celtic Bank Corporation | 7(a) | 3 | $305K | 0.7% | 1 | +2 |
| 25 | Bank of America, National Association | 7(a) | 2 | — | 0.5% | 2 | 0 |
| 26 | 1st Financial Bank USA | 7(a) | 2 | — | 0.5% | 0 | new |
| 27 | Saco and Biddeford Savings Institution | 7(a) | 2 | — | 0.5% | 0 | new |
| 28 | Colony Bank | 7(a) | 2 | — | 0.5% | 0 | new |
| 29 | JPMorgan Chase Bank, National Association | 7(a) | 2 | — | 0.5% | 0 | new |
| 30 | Truliant FCU | 7(a) | 1 | — | 0.2% | 0 | new |
| 31 | T Bank, National Association | 7(a) | 1 | — | 0.2% | 0 | new |
| 32 | Rockland Trust Company | 7(a) | 1 | — | 0.2% | 0 | new |
| 33 | Byline Bank | 7(a) | 1 | — | 0.2% | 0 | new |
| 34 | Maine State CU | 7(a) | 1 | — | 0.2% | 0 | new |
| 35 | Citizens Bank | 7(a) | 1 | — | 0.2% | 0 | new |
| 36 | North State Bank | 7(a) | 1 | — | 0.2% | 0 | new |
| 37 | First National Bank | 7(a) | 1 | — | 0.2% | 0 | new |
| 38 | United Midwest Savings Bank National Association | 7(a) | 1 | — | 0.2% | 1 | 0 |
| 39 | Eastern Bank | 7(a) | 1 | — | 0.2% | 0 | new |
| 40 | Service FCU | 7(a) | 1 | — | 0.2% | 1 | 0 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2023 | Change |
|---|---|---|---|---|---|---|
| 1 | Cumberland County | 136 | $38.0M | 32.5% | 136 | 0 |
| 2 | York County | 89 | $30.0M | 21.2% | 68 | +21 |
| 3 | Penobscot County | 35 | $5.5M | 8.4% | 37 | -2 |
| 4 | Androscoggin County | 30 | $7.2M | 7.2% | 34 | -4 |
| 5 | Hancock County | 25 | $6.7M | 6.0% | 18 | +7 |
| 6 | Aroostook County | 17 | $7.4M | 4.1% | 11 | +6 |
| 7 | Kennebec County | 17 | $5.5M | 4.1% | 11 | +6 |
| 8 | Oxford County | 15 | $1.6M | 3.6% | 25 | -10 |
| 9 | Knox County | 13 | $3.5M | 3.1% | 20 | -7 |
| 10 | Somerset County | 13 | $2.4M | 3.1% | 13 | 0 |
| 11 | Lincoln County | 9 | $2.0M | 2.1% | 7 | +2 |
| 12 | Sagadahoc County | 8 | $1.1M | 1.9% | 11 | -3 |
| 13 | Piscataquis County | 5 | $1.4M | 1.2% | 1 | +4 |
| 14 | Franklin County | 3 | $4.0M | 0.7% | 2 | +1 |
| 15 | Waldo County | 3 | $1.6M | 0.7% | 6 | -3 |
| 16 | Washington County | 1 | — | 0.2% | 4 | -3 |
FY2024 against FY2023
| Maine | FY2024 | FY2023 |
|---|---|---|
| 7(a) approvals | 371 | 346 |
| 7(a) dollars | $86.3M | $73.9M |
| Median 7(a) approval | $90K | $93K |
| 504 approvals | 48 | 58 |
| 504 dollars | $31.7M | $36.6M |
| Jobs supported, as reported | 3,092 | 3,352 |
Questions and answers
Which lenders made the most SBA loans in Maine in FY2024?
TD Bank, National Association (91), Maine Community Bank (53), Bangor Savings Bank (47), Granite State Economic Development Corporation (44), Norway Savings Bank (19). 41 lenders had at least one approval.
How many SBA loans were approved in Maine in FY2024?
419: 371 under 7(a) worth $86.3M and 48 under 504 worth $31.7M.
Which Maine counties had the most SBA approvals in FY2024?
Cumberland County (136), York County (89), Penobscot County (35), Androscoggin County (30), Hancock County (25).
When does FY2024 start and end?
The federal fiscal year 2024 runs from 1 October 2023 to 30 September 2024.
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