SBA Ledger

States › Maryland › FY2024

FY20241 Oct 2023 – 30 Sep 2024

SBA loans in Maryland, 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 1,271 loans in Maryland: 1,233 under 7(a) and 38 under 504, worth $493M.

That is up 32% on FY2023, when there were 962 approvals worth $406M.

Maryland accounted for 1.7% of the 76,235 approvals nationwide that year. 90 lenders had at least one approval in the state; Manufacturers and Traders Trust Company had the most, 436.

1,271approvalsFY2023: 962
$493Mdollars approvedFY2023: $406M
$105Kmedian 7(a) approvalFY2023: $105K
90lenders with an approval
12,961jobs 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 FY2024, of 90 active.

#LenderProgramApprovalsDollarsShare of stateFY2023Change
1Manufacturers and Traders Trust Company7(a)436$54.8M34.3%349+87
2TD Bank, National Association7(a)84$14.5M6.6%61+23
3Readycap Lending, LLC7(a)73$19.2M5.7%21+52
4Newtek Bank, National Association7(a)69$37.5M5.4%26+43
5BayFirst National Bank7(a)57$8.9M4.5%53+4
6Northeast Bank7(a)53$6.0M4.2%8+45
7The Huntington National Bank7(a)52$18.8M4.1%37+15
8PNC Bank, National Association7(a)28$1.8M2.2%26+2
9Wells Fargo Bank National Association7(a)27$4.5M2.1%26+1
10Business Finance Group, Inc.50426$38.2M2.0%19+7
11Bank of America, National Association7(a)25$9.8M2.0%22+3
12Live Oak Banking Company7(a)23$28.8M1.8%18+5
13Fulton Bank, National Association7(a)21$10.9M1.7%210
14United Midwest Savings Bank National Association7(a)17$7.0M1.3%12+5
15SouthState Bank, National Association7(a)16$4.6M1.3%6+10
16Capital Bank, National Association7(a)15$12.4M1.2%11+4
17JPMorgan Chase Bank, National Association7(a)15$2.9M1.2%4+11
18Harvest Small Business Finance, LLC7(a)13$13.8M1.0%5+8
19Celtic Bank Corporation7(a)13$5.6M1.0%8+5
20Lendistry SBLC, LLC7(a)11$2.3M0.9%3+8
21Hanmi Bank7(a)9$8.7M0.7%12-3
22Heritage Bank Inc7(a)8$2.4M0.6%4+4
23First Internet Bank of Indiana7(a)7$16.8M0.6%5+2
24First National Bank of Pennsylvania7(a)7$6.7M0.6%4+3
25CDC Small Business Finance Corp.7(a)7$1.0M0.6%5+2
26Univest Bank and Trust Co7(a)6$6.2M0.5%11-5
27Meridian Bank7(a)6$5.9M0.5%4+2
28Bank of Clarke7(a)6$5.0M0.5%3+3
29WesBanco Bank, Inc.7(a)6$4.5M0.5%2+4
30Citizens Bank7(a)6$4.2M0.5%60
31Colony Bank7(a)6$1.6M0.5%5+1
32First Bank of the Lake7(a)6$1.2M0.5%7-1
33Truist Bank7(a)5$9.7M0.4%6-1
34Atlantic Union Bank7(a)5$2.0M0.4%8-3
35Chesapeake Business Finance Corporation5044$10.4M0.3%1+3
36504 Capital Corporation5044$7.5M0.3%5-1
37Woori America Bank7(a)4$7.3M0.3%1+3
38Hanover Community Bank7(a)4$7.3M0.3%1+3
39Capital One National Association7(a)4$6.6M0.3%2+2
40Beacon Bank and Trust7(a)4$4.1M0.3%11-7

Approvals by county

#CountyApprovalsDollarsShare of stateFY2023Change
1Montgomery County235$111M18.5%140+95
2Prince George's County196$64.0M15.4%119+77
3Baltimore County173$63.0M13.6%165+8
4Anne Arundel County128$62.3M10.1%101+27
5Baltimore city107$40.3M8.4%101+6
6Howard County91$39.8M7.2%72+19
7Frederick County77$29.0M6.1%56+21
8Harford County55$12.8M4.3%49+6
9Carroll County36$15.2M2.8%21+15
10Washington County21$7.7M1.7%23-2
11Allegany County19$2.4M1.5%11+8
12Charles County18$9.5M1.4%36-18
13Calvert County17$10.6M1.3%12+5
14Wicomico County15$2.6M1.2%9+6
15Queen Anne's County15$5.5M1.2%9+6
16St. Mary's County14$8.1M1.1%9+5
17Worcester County10$1.6M0.8%7+3
18Garrett County9$923K0.7%5+4
19Cecil County9$1.1M0.7%5+4
20Caroline County8$753K0.6%1+7
21Talbot County8$4.0M0.6%6+2
22Dorchester County7$262K0.6%2+5
23Kent County3$577K0.2%1+2

FY2024 against FY2023

MarylandFY2024FY2023
7(a) approvals1,233934
7(a) dollars$434M$363M
Median 7(a) approval$105K$105K
504 approvals3828
504 dollars$59.0M$42.2M
Jobs supported, as reported12,96111,920

Questions and answers

Which lenders made the most SBA loans in Maryland in FY2024?

Manufacturers and Traders Trust Company (436), TD Bank, National Association (84), Readycap Lending, LLC (73), Newtek Bank, National Association (69), BayFirst National Bank (57). 90 lenders had at least one approval.

How many SBA loans were approved in Maryland in FY2024?

1,271: 1,233 under 7(a) worth $434M and 38 under 504 worth $59.0M.

Which Maryland counties had the most SBA approvals in FY2024?

Montgomery County (235), Prince George's County (196), Baltimore County (173), Anne Arundel County (128), Baltimore city (107).

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