SBA Ledger

States › Maryland › FY2025

FY20251 Oct 2024 – 30 Sep 2025

SBA loans in Maryland, FY2025

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 FY2025 (1 October 2024 to 30 September 2025) SBA approved 1,516 loans in Maryland: 1,481 under 7(a) and 35 under 504, worth $572M.

That is up 19% on FY2024, when there were 1,271 approvals worth $493M.

Maryland accounted for 1.8% of the 84,840 approvals nationwide that year. 110 lenders had at least one approval in the state; Manufacturers and Traders Trust Company had the most, 554.

1,516approvalsFY2024: 1,271
$572Mdollars approvedFY2024: $493M
$150Kmedian 7(a) approvalFY2024: $105K
110lenders with an approval
15,598jobs 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 FY2025, of 110 active.

#LenderProgramApprovalsDollarsShare of stateFY2024Change
1Manufacturers and Traders Trust Company7(a)554$65.2M36.5%436+118
2Northeast Bank7(a)160$28.1M10.6%53+107
3Newtek Bank, National Association7(a)80$30.9M5.3%69+11
4Readycap Lending, LLC7(a)73$25.1M4.8%730
5TD Bank, National Association7(a)66$10.6M4.4%84-18
6The Huntington National Bank7(a)50$29.1M3.3%52-2
7BayFirst National Bank7(a)35$4.9M2.3%57-22
8Celtic Bank Corporation7(a)31$21.5M2.0%13+18
9United Midwest Savings Bank National Association7(a)31$11.7M2.0%17+14
10Live Oak Banking Company7(a)29$28.2M1.9%23+6
11Lendistry SBLC, LLC7(a)25$5.9M1.6%11+14
12Fulton Bank, National Association7(a)21$11.6M1.4%210
13Wells Fargo Bank National Association7(a)20$2.1M1.3%27-7
14Business Finance Group, Inc.50418$17.1M1.2%26-8
15PNC Bank, National Association7(a)16$4.0M1.1%28-12
16Harvest Small Business Finance, LLC7(a)14$9.5M0.9%13+1
17Bank of America, National Association7(a)11$5.7M0.7%25-14
18Hanmi Bank7(a)10$14.2M0.7%9+1
19JPMorgan Chase Bank, National Association7(a)10$2.4M0.7%15-5
20Rappahannock Economic Development Corporation5049$11.0M0.6%3+6
21Wilmington Savings Fund Society FSB7(a)9$5.7M0.6%3+6
22Open Bank7(a)9$5.5M0.6%1+8
23Univest Bank and Trust Co7(a)9$4.5M0.6%6+3
24GBank7(a)7$19.1M0.5%1+6
25First Internet Bank of Indiana7(a)7$11.8M0.5%70
26First Bank of the Lake7(a)7$2.1M0.5%6+1
27Beacon Bank and Trust7(a)6$5.7M0.4%4+2
28WesBanco Bank, Inc.7(a)6$1.6M0.4%60
29CenTrust Bank, A Division of SmartBiz Bank National Association7(a)6$1.0M0.4%0new
30First-Citizens Bank & Trust Company7(a)5$9.1M0.3%0new
31FDIC - Community Bank & Trust-West Georgia7(a)5$7.4M0.3%0new
32Meridian Bank7(a)5$4.2M0.3%6-1
33HomeTrust Bank7(a)5$3.5M0.3%2+3
34Grasshopper Bank National Association7(a)5$3.3M0.3%1+4
35VelocitySBA, LLC7(a)5$2.6M0.3%3+2
36Colony Bank7(a)5$2.3M0.3%6-1
37Capital One National Association7(a)5$2.3M0.3%4+1
38U.S. Bank, National Association7(a)5$1.6M0.3%1+4
39Atlantic Union Bank7(a)5$1.6M0.3%50
40TowneBank7(a)4$6.6M0.3%2+2

Approvals by county

#CountyApprovalsDollarsShare of stateFY2024Change
1Prince George's County256$89.0M16.9%196+60
2Montgomery County230$73.3M15.2%235-5
3Baltimore County198$72.0M13.1%173+25
4Anne Arundel County151$62.9M10.0%128+23
5Howard County132$49.0M8.7%91+41
6Baltimore city110$31.7M7.3%107+3
7Frederick County93$49.8M6.1%77+16
8Harford County73$28.1M4.8%55+18
9Washington County44$27.0M2.9%21+23
10Carroll County39$9.7M2.6%36+3
11Charles County27$8.7M1.8%18+9
12Wicomico County25$9.0M1.6%15+10
13Calvert County16$10.1M1.1%17-1
14Cecil County16$7.7M1.1%9+7
15Worcester County16$6.1M1.1%10+6
16Talbot County16$8.7M1.1%8+8
17Allegany County14$7.0M0.9%19-5
18Queen Anne's County14$4.9M0.9%15-1
19St. Mary's County14$10.4M0.9%140
20Garrett County12$2.1M0.8%9+3
21Dorchester County7$1.8M0.5%70
22Caroline County7$2.4M0.5%8-1
23Somerset County3$245K0.2%0new
24Kent County3$150K0.2%30

FY2025 against FY2024

MarylandFY2025FY2024
7(a) approvals1,4811,233
7(a) dollars$528M$434M
Median 7(a) approval$150K$105K
504 approvals3538
504 dollars$43.5M$59.0M
Jobs supported, as reported15,59812,961

Questions and answers

Which lenders made the most SBA loans in Maryland in FY2025?

Manufacturers and Traders Trust Company (554), Northeast Bank (160), Newtek Bank, National Association (80), Readycap Lending, LLC (73), TD Bank, National Association (66). 110 lenders had at least one approval.

How many SBA loans were approved in Maryland in FY2025?

1,516: 1,481 under 7(a) worth $528M and 35 under 504 worth $43.5M.

Which Maryland counties had the most SBA approvals in FY2025?

Prince George's County (256), Montgomery County (230), Baltimore County (198), Anne Arundel County (151), Howard County (132).

When does FY2025 start and end?

The federal fiscal year 2025 runs from 1 October 2024 to 30 September 2025.

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