SBA Ledger

States › Maryland

State1.6% of US approvals172 lenders active

SBA loans in Maryland

7(a) and 504 approvals by fiscal year, the lenders behind them, and where in the state they went. Pick a fiscal year for that year's lenders and counties.

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.

Businesses in Maryland received 5,330 SBA loan approvals worth $2.31bn in FY2021 to FY2025, 5,118 of them 7(a) loans and 212 504 loans.

That is 37.3 approvals for every 1,000 business establishments in the state, against 41.0 nationally, and 1.6% of all approvals in the country (22nd of 54 states and territories).

In FY2025 there were 1,516 approvals totalling $572M, up 19% on FY2024. The median 7(a) approval over the five years was $138K and the median 504 approval $866K.

172 lenders had at least one approval in the state; by number of 7(a) approvals the most active were Manufacturers and Traders Trust Company (1,951), TD Bank, National Association (270) and Northeast Bank (223).

Of 7(a) loans approved in FY2010 to FY2021 and disbursed, SBA records 7.8% as charged off, against 6.6% nationally.

1,516approvals, FY20255,330 in FY2021–FY2025
$572Mapproved, FY2025$2.31bn in FY2021–FY2025
37.3approvals per 1,000 establishments, FY2021–FY2025US: 41.0
$138Kmedian 7(a) approvalUS: $190K
7.8%7(a) loans approved FY2010–FY2021 charged offUS: 6.6%

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.

Most active 7(a) lenders in Maryland

Ranked by number of approvals to businesses in the state, FY2021–FY2025. The column of bars shows each lender's approvals here in every fiscal year; the charged-off column is the lender's nationwide figure.

#LenderApprovals in MD, FY2021–25DollarsShareMedian approval, all statesFY2016–26Charged off, FY2010–21 loans
1Manufacturers and Traders Trust CompanyBuffalo, NY1,951$259M38.1%$50K8.0%
2TD Bank, National AssociationWilmington, DE270$43.5M5.3%$50K14.4%
3Northeast BankLewiston, ME223$34.6M4.4%$106K12.8%
4Readycap Lending, LLCBerkeley Heights, NJ198$71.9M3.9%$138K4.3%
5Newtek Bank, National AssociationMiami, FL175$79.7M3.4%$225K—
6BayFirst National BankSaint Petersburg, FL172$31.5M3.4%$150K19.2%
7The Huntington National BankColumbus, OH170$76.8M3.3%$92K5.7%
8Wells Fargo Bank National AssociationSioux Falls, SD122$22.7M2.4%$15K7.9%
9Live Oak Banking CompanyWilmington, NC107$151M2.1%$850K2.2%
10PNC Bank, National AssociationWilmington, DE107$15.2M2.1%$50K8.1%
11Fulton Bank, National AssociationLancaster, PA94$65.8M1.8%$465K6.5%
12United Midwest Savings Bank National AssociationDe Graff, OH89$25.9M1.7%$150K15.9%
13Celtic Bank CorporationSalt Lake City, UT74$49.8M1.4%$150K17.0%
14Newtek Small Business Finance, Inc.Lake Success, NY72$36.2M1.4%$300K6.8%
15Bank of America, National AssociationCharlotte, NC72$27.9M1.4%$300K2.6%
16Hanmi BankLos Angeles, CA56$66.1M1.1%$630K6.0%
17Capital Bank, National AssociationRockville, MD56$36.6M1.1%$312K6.5%
18Truist BankCharlotte, NC43$60.2M0.8%$771K4.5%
19Harvest Small Business Finance, LLCLaguna Hills, CA40$33.9M0.8%$765K0.4%
20Wilmington Savings Fund Society FSBWilmington, DE40$32.4M0.8%$500K5.9%
21Atlantic Union BankRichmond, VA39$27.3M0.8%$492K4.5%
22Lendistry SBLC, LLCLos Angeles, CA39$8.7M0.8%$150K22.7%
23First National Bank of PennsylvaniaGreenville, PA33$35.4M0.6%$621K9.2%
24JPMorgan Chase Bank, National AssociationColumbus, OH32$5.8M0.6%$200K7.4%
25Beacon Bank and TrustBrookline, MA30$34.6M0.6%$630K4.6%
26CDC Small Business Finance Corp.San Diego, CA29$3.5M0.6%$150K17.9%
27Meridian BankMalvern, PA26$28.8M0.5%$525K2.8%
28Univest Bank and Trust CoSouderton, PA26$19.0M0.5%$350K6.7%
29First Bank of the LakeOsage Beach, MO26$18.2M0.5%$350K2.7%
30SouthState Bank, National AssociationWinter Haven, FL26$10.1M0.5%$350K2.8%
31Citizens BankElizabethton, TN25$12.6M0.5%$495K5.4%
32Firstrust Savings BankConshohocken, PA21$19.7M0.4%$823K1.3%
33Colony BankFitzgerald, GA20$15.4M0.4%$150K7.0%
34First Internet Bank of IndianaFishers, IN19$37.5M0.4%$895K5.3%
35Orrstown BankHarrisburg, PA18$10.9M0.4%$250K5.2%
36WesBanco Bank, Inc.Wheeling, WV18$8.3M0.4%$278K4.6%
37EagleBankBethesda, MD17$9.2M0.3%$363K10.4%
38GBankLas Vegas, NV14$36.6M0.3%$2.2M1.7%
39The Bancorp Bank National AssociationSioux Falls, SD14$12.9M0.3%$589K6.7%
40PCB BankLos Angeles, CA14$11.0M0.3%$850K3.0%

504 certified development companies

#LenderApprovals in MD, FY2021–25DollarsShareMedian approval, all statesFY2016–26Charged off, FY2010–21 loans
1Business Finance Group, Inc.Fairfax, VA · 504 CDC139$162M65.6%$584K0.9%
2Chesapeake Business Finance CorporationBethesda, MD · 504 CDC26$45.0M12.3%$926K4.8%
3504 Capital CorporationChesapeake, VA · 504 CDC19$31.2M9.0%$537K0.5%
4Rappahannock Economic Development CorporationFredericksburg, VA · 504 CDC16$15.9M7.5%$580K0.7%
5Prince George's Financial Services CorporationLargo, MD · 504 CDC11$6.8M5.2%$496K—
6Georgia Certified Development CorporationAtlanta, GA · 504 CDC1—0.5%$1.0M0.0%

Fiscal-year ledger

Fiscal year7(a) approvals7(a) dollarsMedian 7(a)504 approvals504 dollarsAll approvalsJobs supported, as reported
FY2026*895$366M$112K24$38.5M9199,339
FY20251,481$528M$150K35$43.5M1,51615,598
FY20241,233$434M$105K38$59.0M1,27112,961
FY2023934$363M$105K28$42.2M96211,920
FY2022771$331M$115K51$53.5M8228,836
FY2021699$386M$200K60$65.7M7599,610
FY2020624$240M$100K39$46.4M6637,843
FY2019891$310M$100K27$20.8M91810,552
FY20181,026$321M$100K26$23.6M1,05210,451
FY2017832$305M$150K28$41.1M8609,085
FY2016859$273M$100K36$38.9M8959,687

7(a) approvals504 approvals

919293949596979899000102030405060708091011121314151617181920212223242526
SBA approvals in Maryland by fiscal year, FY1991 to FY2026.

Counties

Approvals in FY2021–FY2025 set against the Census Bureau's count of business establishments. Counties with at least 30 approvals have their own page.

#CountyApprovalsDollarsEstablishmentsPer 1,000 establishmentsBy fiscal year
1Montgomery County848$360M27,67730.6
2Prince George's County791$301M16,35048.4
3Baltimore County749$295M20,34036.8
4Anne Arundel County568$277M14,71838.6
5Baltimore city489$205M12,38339.5
6Howard County450$211M10,05044.8
7Frederick County309$157M6,59146.9
8Harford County236$96.8M5,63641.9
9Carroll County136$62.5M4,27931.8
10Charles County112$52.9M2,79340.1
11Washington County111$56.0M3,41732.5
12Calvert County71$36.6M1,72541.2
13Wicomico County58$19.1M2,49523.2
14Queen Anne's County58$19.1M1,42140.8
15Worcester County58$27.1M2,25625.7
16Allegany County54$22.5M1,43037.8
17St. Mary's County50$43.5M2,09023.9
18Cecil County45$15.0M1,77625.3
19Garrett County41$9.4M95143.1
20Talbot County38$23.0M1,46825.9
21Caroline County21$5.4M63433.1
22Dorchester County20$5.8M68729.1
23Kent County11$4.6M57019.3
24Somerset County6$1.2M36016.7

Industries

#Industry group (NAICS 4-digit)ApprovalsDollarsShare
1Restaurants and Other Eating PlacesNAICS 7225499$231M9.4%
2Personal Care ServicesNAICS 8121199$38.3M3.7%
3Management, Scientific, and Technical Consulting ServicesNAICS 5416193$58.0M3.6%
4Offices of Other Health PractitionersNAICS 6213185$39.3M3.5%
5Services to Buildings and DwellingsNAICS 5617183$38.5M3.4%
6Automotive Repair and MaintenanceNAICS 8111174$80.8M3.3%
7Computer Systems Design and Related ServicesNAICS 5415169$75.4M3.2%
8Building Equipment ContractorsNAICS 2382162$61.8M3.0%
9Other Amusement and Recreation IndustriesNAICS 7139159$90.2M3.0%
10Residential Building ConstructionNAICS 2361140$27.3M2.6%
11General Freight TruckingNAICS 4841130$27.3M2.4%
12Beer, Wine, and Liquor StoresNAICS 4453110$102M2.1%
13Child Day Care ServicesNAICS 6244101$71.8M1.9%
14Other Specialty Trade ContractorsNAICS 2389100$51.9M1.9%
15Other Professional, Scientific, and Technical ServicesNAICS 541998$47.5M1.8%

Sectors

#NAICS sectorApprovalsShare
1Professional, Scientific, and Technical Services73413.8%
2Health Care and Social Assistance66612.5%
3Accommodation and Food Services61911.6%
4Construction61011.4%
5Retail Trade55810.5%
6Other Services (except Public Administration)54610.2%
7Administrative and Support and Waste Management and Remediation Services3115.8%
8Transportation and Warehousing2735.1%
9Manufacturing2394.5%
10Arts, Entertainment, and Recreation1923.6%

Franchise brands

#BrandApprovalsShare
1The UPS Store220.4%
2Kiddie Academy120.2%
3Celebree School110.2%
4Tropical Smoothie Cafe90.2%
5Subway80.2%
6Primrose Schools70.1%
7Nothing Bundt Cakes70.1%
8Property Management Inc.70.1%
9Vital Care60.1%
10Jersey Mike’s Subs60.1%

How earlier loans turned out

Maryland, 7(a)7.8%
United States, 7(a)6.6%
Maryland, 5041.6%
United States, 5041.2%
Share of disbursed loans approved FY2010–FY2021 that SBA records as charged off, by program.
Loans approved FY2010–FY2021MD 7(a)US 7(a)MD 504US 504
Approvals in these years9,121639,90561185,591
Cancelled or never disbursed1,21979,31311712,514
Disbursed loans7,902560,59249473,077
Paid in full5,996435,81323035,491
Charged off61836,8918905
Still outstanding (status exempt from disclosure)1,28887,88825636,681
Charged off, share of disbursed loans7.8%6.6%1.6%1.2%
Dollars charged off, share of disbursed dollars3.3%2.5%1.0%0.9%
Dollars charged off$92.6M$5.70bn$4.7M$499M

Approval sizes

Age of the businesses

Against the country

FY2021–FY2025MarylandUnited States
Approvals per 1,000 establishments37.341.0
Median 7(a) approval$138K$190K
Median 504 approval$866K$657K
504 share of approvals4.0%11.0%
Jobs supported per approval, as reported11.110.5
Approvals, change on FY2016–FY202021%10%

Questions and answers

Which lenders make the most SBA loans in Maryland?

By 7(a) approvals in FY2021 to FY2025: Manufacturers and Traders Trust Company (1,951), TD Bank, National Association (270), Northeast Bank (223), Readycap Lending, LLC (198), Newtek Bank, National Association (175). For 504 loans: Business Finance Group, Inc. (139), Chesapeake Business Finance Corporation (26), 504 Capital Corporation (19). Volume says how active a lender is, nothing about terms or service.

How large are typical SBA loans in Maryland?

The median 7(a) approval was $138K and the median 504 approval $866K; the average across both programs was $433K.

Which industries get the most SBA loans in Maryland?

Restaurants and Other Eating Places (499); Personal Care Services (199); Management, Scientific, and Technical Consulting Services (193); Offices of Other Health Practitioners (185); Services to Buildings and Dwellings (183).

Which Maryland counties receive the most SBA loans?

Montgomery County (848), Prince George's County (791), Baltimore County (749), Anne Arundel County (568), Baltimore city (489), by approvals in FY2021 to FY2025.

Is SBA lending in Maryland rising?

Approvals in the three latest complete fiscal years total 3,749, against 2,244 in the three before: rising (+67%).

What share of SBA loans in Maryland are charged off?

Of 7(a) loans approved in FY2010 to FY2021 and disbursed, 7.8% are recorded as charged off (national: 6.6%); for 504 loans the figure is 1.6% (national: 1.2%). Newer loans are left out because most have not had time to reach either outcome.

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. Establishment counts are from the Census Bureau's County Business Patterns 2023, which leaves out most farms, government and businesses without employees. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error