States › Massachusetts › FY2016
FY20161 Oct 2015 – 30 Sep 2016
SBA loans in Massachusetts, FY2016
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 FY2016 (1 October 2015 to 30 September 2016) SBA approved 2,836 loans in Massachusetts: 2,566 under 7(a) and 270 under 504, worth $559M.
That is up 10% on FY2015, when there were 2,588 approvals worth $468M.
Massachusetts accounted for 4.1% of the 70,012 approvals nationwide that year. 123 lenders had at least one approval in the state; Eastern Bank had the most, 855.
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 Massachusetts businesses in FY2016, of 123 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2015 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Eastern Bank | 7(a) | 855 | $54.0M | 30.1% | 864 | -9 |
| 2 | Citizens Bank, National Association | 7(a) | 224 | $36.6M | 7.9% | 124 | +100 |
| 3 | Beacon Bank and Trust | 7(a) | 223 | $21.4M | 7.9% | 158 | +65 |
| 4 | Rockland Trust Company | 7(a) | 154 | $25.0M | 5.4% | 135 | +19 |
| 5 | TD Bank, National Association | 7(a) | 99 | $13.4M | 3.5% | 84 | +15 |
| 6 | Bay Colony Development Corporation | 504 | 89 | $45.6M | 3.1% | 80 | +9 |
| 7 | Granite State Economic Development Corporation | 504 | 79 | $62.6M | 2.8% | 76 | +3 |
| 8 | Leader Bank, National Association | 7(a) | 68 | $6.8M | 2.4% | 73 | -5 |
| 9 | Santander Bank, National Association | 7(a) | 65 | $6.5M | 2.3% | 89 | -24 |
| 10 | New England Certified Development Corporation | 504 | 60 | $47.2M | 2.1% | 51 | +9 |
| 11 | St. Mary's CU | 7(a) | 51 | $2.1M | 1.8% | 26 | +25 |
| 12 | Cambridge Savings Bank | 7(a) | 49 | $7.5M | 1.7% | 39 | +10 |
| 13 | Salem Five Cents Savings Bank | 7(a) | 46 | $5.9M | 1.6% | 26 | +20 |
| 14 | UniBank for Savings | 7(a) | 45 | $3.2M | 1.6% | 17 | +28 |
| 15 | South Shore Bank | 7(a) | 35 | $2.8M | 1.2% | 34 | +1 |
| 16 | Bristol County Savings Bank | 7(a) | 32 | $7.4M | 1.1% | 35 | -3 |
| 17 | Wells Fargo Bank National Association | 7(a) | 27 | $16.2M | 1.0% | 23 | +4 |
| 18 | bankHometown | 7(a) | 25 | $3.9M | 0.9% | 6 | +19 |
| 19 | Manufacturers and Traders Trust Company | 7(a) | 25 | $3.8M | 0.9% | 23 | +2 |
| 20 | Celtic Bank Corporation | 7(a) | 24 | $10.0M | 0.8% | 16 | +8 |
| 21 | Avidia Bank | 7(a) | 24 | $8.4M | 0.8% | 13 | +11 |
| 22 | The Cape Cod Five Cents Savings Bank | 7(a) | 21 | $2.9M | 0.7% | 20 | +1 |
| 23 | Live Oak Banking Company | 7(a) | 19 | $28.0M | 0.7% | 16 | +3 |
| 24 | Northeast Bank | 7(a) | 19 | $6.8M | 0.7% | 30 | -11 |
| 25 | BrightBridge Credit Union | 7(a) | 19 | $3.7M | 0.7% | 26 | -7 |
| 26 | Florence Bank | 7(a) | 19 | $1.4M | 0.7% | 13 | +6 |
| 27 | Happen Bank | 7(a) | 18 | $10.6M | 0.6% | 18 | 0 |
| 28 | South Eastern Economic Development Corporation | 504 | 18 | $5.7M | 0.6% | 24 | -6 |
| 29 | Cornerstone Bank | 7(a) | 16 | $2.0M | 0.6% | 27 | -11 |
| 30 | Middlesex Savings Bank | 7(a) | 15 | $3.7M | 0.5% | 9 | +6 |
| 31 | TruNorth Bank | 7(a) | 15 | $3.5M | 0.5% | 12 | +3 |
| 32 | Independence Bank | 7(a) | 15 | $1.9M | 0.5% | 25 | -10 |
| 33 | BayFirst National Bank | 7(a) | 14 | $3.4M | 0.5% | 1 | +13 |
| 34 | Cape & Islands Community Development, Inc. | 504 | 12 | $10.1M | 0.4% | 11 | +1 |
| 35 | Westfield Bank | 7(a) | 12 | $1.3M | 0.4% | 10 | +2 |
| 36 | Fall River Five Cents Savings Bank d/b/a BankFive | 7(a) | 12 | $1.3M | 0.4% | 16 | -4 |
| 37 | bankESB | 7(a) | 12 | $1.2M | 0.4% | 19 | -7 |
| 38 | Worcester Business Development Corporation | 504 | 11 | $4.6M | 0.4% | 5 | +6 |
| 39 | MountainOne Bank | 7(a) | 11 | $2.2M | 0.4% | 18 | -7 |
| 40 | Stearns Bank National Association | 7(a) | 11 | $1.6M | 0.4% | 8 | +3 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2015 | Change |
|---|---|---|---|---|---|---|
| 1 | Middlesex County | 604 | $119M | 21.3% | 607 | -3 |
| 2 | Essex County | 382 | $66.4M | 13.5% | 389 | -7 |
| 3 | Norfolk County | 330 | $68.3M | 11.6% | 303 | +27 |
| 4 | Plymouth County | 308 | $57.3M | 10.9% | 253 | +55 |
| 5 | Suffolk County | 293 | $57.4M | 10.3% | 237 | +56 |
| 6 | Worcester County | 270 | $67.4M | 9.5% | 224 | +46 |
| 7 | Hampden County | 166 | $24.2M | 5.9% | 117 | +49 |
| 8 | Bristol County | 164 | $36.6M | 5.8% | 158 | +6 |
| 9 | Barnstable County | 153 | $35.0M | 5.4% | 128 | +25 |
| 10 | Berkshire County | 79 | $9.0M | 2.8% | 85 | -6 |
| 11 | Hampshire County | 52 | $7.8M | 1.8% | 51 | +1 |
| 12 | Franklin County | 23 | $4.3M | 0.8% | 17 | +6 |
| 13 | Nantucket County | 8 | $5.8M | 0.3% | 12 | -4 |
| 14 | Dukes County | 4 | $537K | 0.1% | 7 | -3 |
FY2016 against FY2015
| Massachusetts | FY2016 | FY2015 |
|---|---|---|
| 7(a) approvals | 2,566 | 2,341 |
| 7(a) dollars | $383M | $328M |
| Median 7(a) approval | $50K | $50K |
| 504 approvals | 270 | 247 |
| 504 dollars | $176M | $140M |
| Jobs supported, as reported | 18,722 | 18,285 |
Questions and answers
Which lenders made the most SBA loans in Massachusetts in FY2016?
Eastern Bank (855), Citizens Bank, National Association (224), Beacon Bank and Trust (223), Rockland Trust Company (154), TD Bank, National Association (99). 123 lenders had at least one approval.
How many SBA loans were approved in Massachusetts in FY2016?
2,836: 2,566 under 7(a) worth $383M and 270 under 504 worth $176M.
Which Massachusetts counties had the most SBA approvals in FY2016?
Middlesex County (604), Essex County (382), Norfolk County (330), Plymouth County (308), Suffolk County (293).
When does FY2016 start and end?
The federal fiscal year 2016 runs from 1 October 2015 to 30 September 2016.
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