SBA Ledger

States › Maryland › FY2023

FY20231 Oct 2022 – 30 Sep 2023

SBA loans in Maryland, 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 962 loans in Maryland: 934 under 7(a) and 28 under 504, worth $406M.

That is up 17% on FY2022, when there were 822 approvals worth $385M.

Maryland accounted for 1.5% of the 63,286 approvals nationwide that year. 90 lenders had at least one approval in the state; Manufacturers and Traders Trust Company had the most, 349.

962approvalsFY2022: 822
$406Mdollars approvedFY2022: $385M
$105Kmedian 7(a) approvalFY2022: $115K
90lenders with an approval
11,920jobs supported, as reported

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 Maryland businesses in FY2023, of 90 active.

#LenderProgramApprovalsDollarsShare of stateFY2022Change
1Manufacturers and Traders Trust Company7(a)349$39.0M36.3%328+21
2TD Bank, National Association7(a)61$9.6M6.3%33+28
3BayFirst National Bank7(a)53$10.1M5.5%22+31
4The Huntington National Bank7(a)37$16.7M3.8%24+13
5Newtek Bank, National Association7(a)26$11.3M2.7%0new
6Wells Fargo Bank National Association7(a)26$8.4M2.7%21+5
7PNC Bank, National Association7(a)26$3.3M2.7%27-1
8Bank of America, National Association7(a)22$6.9M2.3%9+13
9Fulton Bank, National Association7(a)21$19.3M2.2%17+4
10Readycap Lending, LLC7(a)21$9.7M2.2%23-2
11Newtek Small Business Finance, Inc.7(a)20$6.3M2.1%28-8
12Business Finance Group, Inc.50419$25.4M2.0%32-13
13Live Oak Banking Company7(a)18$24.7M1.9%17+1
14Hanmi Bank7(a)12$10.7M1.2%5+7
15United Midwest Savings Bank National Association7(a)12$2.2M1.2%13-1
16Beacon Bank and Trust7(a)11$16.8M1.1%3+8
17Univest Bank and Trust Co7(a)11$8.3M1.1%0new
18Capital Bank, National Association7(a)11$7.9M1.1%16-5
19Atlantic Union Bank7(a)8$7.6M0.8%11-3
20Celtic Bank Corporation7(a)8$4.7M0.8%17-9
21Northeast Bank7(a)8$407K0.8%2+6
22First Bank of the Lake7(a)7$6.1M0.7%3+4
23Truist Bank7(a)6$9.4M0.6%17-11
24SouthState Bank, National Association7(a)6$4.0M0.6%0new
25Wilmington Savings Fund Society FSB7(a)6$3.4M0.6%3+3
26Citizens Bank7(a)6$3.2M0.6%3+3
27504 Capital Corporation5045$10.3M0.5%4+1
28First Internet Bank of Indiana7(a)5$8.8M0.5%0new
29The Bancorp Bank National Association7(a)5$7.7M0.5%2+3
30Colony Bank7(a)5$4.6M0.5%1+4
31Harvest Small Business Finance, LLC7(a)5$4.0M0.5%2+3
32Firstrust Savings Bank7(a)5$1.9M0.5%3+2
33CDC Small Business Finance Corp.7(a)5$978K0.5%6-1
34Shore United Bank, National Association7(a)5$958K0.5%2+3
35Bank Five Nine7(a)4$9.1M0.4%1+3
36Meridian Bank7(a)4$6.8M0.4%3+1
37Old National Bank7(a)4$6.3M0.4%1+3
38PCB Bank7(a)4$3.6M0.4%40
39Heritage Bank Inc7(a)4$2.2M0.4%0new
40Banesco USA7(a)4$1.8M0.4%1+3

Approvals by county

#CountyApprovalsDollarsShare of stateFY2022Change
1Baltimore County165$63.6M17.2%111+54
2Montgomery County140$56.3M14.6%122+18
3Prince George's County119$51.9M12.4%121-2
4Anne Arundel County101$49.3M10.5%107-6
5Baltimore city101$40.7M10.5%91+10
6Howard County72$34.0M7.5%70+2
7Frederick County56$27.8M5.8%49+7
8Harford County49$19.2M5.1%36+13
9Charles County36$13.5M3.7%18+18
10Washington County23$12.1M2.4%12+11
11Carroll County21$9.7M2.2%13+8
12Calvert County12$3.8M1.2%11+1
13Allegany County11$6.9M1.1%8+3
14Wicomico County9$2.1M0.9%7+2
15Queen Anne's County9$1.1M0.9%10-1
16St. Mary's County9$6.7M0.9%6+3
17Worcester County7$1.0M0.7%70
18Talbot County6$862K0.6%4+2
19Garrett County5$1.8M0.5%6-1
20Cecil County5$460K0.5%8-3
21Dorchester County2—0.2%1+1
22Somerset County2—0.2%0new
23Caroline County1—0.1%2-1
24Kent County1—0.1%2-1

FY2023 against FY2022

MarylandFY2023FY2022
7(a) approvals934771
7(a) dollars$363M$331M
Median 7(a) approval$105K$115K
504 approvals2851
504 dollars$42.2M$53.5M
Jobs supported, as reported11,9208,836

Questions and answers

Which lenders made the most SBA loans in Maryland in FY2023?

Manufacturers and Traders Trust Company (349), TD Bank, National Association (61), BayFirst National Bank (53), The Huntington National Bank (37), Newtek Bank, National Association (26). 90 lenders had at least one approval.

How many SBA loans were approved in Maryland in FY2023?

962: 934 under 7(a) worth $363M and 28 under 504 worth $42.2M.

Which Maryland counties had the most SBA approvals in FY2023?

Baltimore County (165), Montgomery County (140), Prince George's County (119), Anne Arundel County (101), Baltimore city (101).

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