States › Massachusetts › FY2017
FY20171 Oct 2016 – 30 Sep 2017
SBA loans in Massachusetts, FY2017
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 FY2017 (1 October 2016 to 30 September 2017) SBA approved 2,811 loans in Massachusetts: 2,547 under 7(a) and 264 under 504, worth $489M.
That is about level with FY2016, when there were 2,836 approvals worth $559M.
Massachusetts accounted for 4.1% of the 68,648 approvals nationwide that year. 116 lenders had at least one approval in the state; Eastern Bank had the most, 979.
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 FY2017, of 116 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2016 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Eastern Bank | 7(a) | 979 | $70.6M | 34.8% | 855 | +124 |
| 2 | Citizens Bank, National Association | 7(a) | 208 | $26.6M | 7.4% | 224 | -16 |
| 3 | Beacon Bank and Trust | 7(a) | 181 | $12.1M | 6.4% | 223 | -42 |
| 4 | TD Bank, National Association | 7(a) | 145 | $10.6M | 5.2% | 99 | +46 |
| 5 | Rockland Trust Company | 7(a) | 116 | $19.2M | 4.1% | 154 | -38 |
| 6 | Bay Colony Development Corporation | 504 | 98 | $44.7M | 3.5% | 89 | +9 |
| 7 | Granite State Economic Development Corporation | 504 | 83 | $43.8M | 3.0% | 79 | +4 |
| 8 | Leader Bank, National Association | 7(a) | 65 | $7.3M | 2.3% | 68 | -3 |
| 9 | UniBank for Savings | 7(a) | 64 | $6.8M | 2.3% | 45 | +19 |
| 10 | Santander Bank, National Association | 7(a) | 50 | $5.1M | 1.8% | 65 | -15 |
| 11 | Cambridge Savings Bank | 7(a) | 49 | $7.7M | 1.7% | 49 | 0 |
| 12 | New England Certified Development Corporation | 504 | 46 | $29.2M | 1.6% | 60 | -14 |
| 13 | St. Mary's CU | 7(a) | 46 | $1.7M | 1.6% | 51 | -5 |
| 14 | Avidia Bank | 7(a) | 33 | $7.6M | 1.2% | 24 | +9 |
| 15 | Salem Five Cents Savings Bank | 7(a) | 32 | $6.3M | 1.1% | 46 | -14 |
| 16 | Manufacturers and Traders Trust Company | 7(a) | 29 | $8.2M | 1.0% | 25 | +4 |
| 17 | Northeast Bank | 7(a) | 24 | $3.0M | 0.9% | 19 | +5 |
| 18 | Live Oak Banking Company | 7(a) | 23 | $22.6M | 0.8% | 19 | +4 |
| 19 | Independence Bank | 7(a) | 22 | $1.7M | 0.8% | 15 | +7 |
| 20 | Celtic Bank Corporation | 7(a) | 21 | $3.3M | 0.7% | 24 | -3 |
| 21 | Webster Bank National Association | 7(a) | 21 | $2.0M | 0.7% | 8 | +13 |
| 22 | Cornerstone Bank | 7(a) | 21 | $1.6M | 0.7% | 16 | +5 |
| 23 | The Cape Cod Five Cents Savings Bank | 7(a) | 19 | $1.9M | 0.7% | 21 | -2 |
| 24 | TruNorth Bank | 7(a) | 17 | $1.3M | 0.6% | 15 | +2 |
| 25 | Bristol County Savings Bank | 7(a) | 16 | $2.0M | 0.6% | 32 | -16 |
| 26 | South Shore Bank | 7(a) | 15 | $876K | 0.5% | 35 | -20 |
| 27 | Wells Fargo Bank National Association | 7(a) | 14 | $12.2M | 0.5% | 27 | -13 |
| 28 | South Eastern Economic Development Corporation | 504 | 14 | $7.5M | 0.5% | 18 | -4 |
| 29 | Cape & Islands Community Development, Inc. | 504 | 14 | $6.6M | 0.5% | 12 | +2 |
| 30 | Newtek Small Business Finance, Inc. | 7(a) | 12 | $18.5M | 0.4% | 10 | +2 |
| 31 | bankHometown | 7(a) | 12 | $2.5M | 0.4% | 25 | -13 |
| 32 | Westfield Bank | 7(a) | 12 | $2.2M | 0.4% | 12 | 0 |
| 33 | Country Bank for Savings | 7(a) | 12 | $1.1M | 0.4% | 1 | +11 |
| 34 | KeyBank National Association | 7(a) | 11 | $4.7M | 0.4% | 4 | +7 |
| 35 | Stearns Bank National Association | 7(a) | 11 | $2.4M | 0.4% | 11 | 0 |
| 36 | Sharon & Crescent United CU | 7(a) | 10 | $843K | 0.4% | 3 | +7 |
| 37 | Greenfield Savings Bank | 7(a) | 10 | $760K | 0.4% | 9 | +1 |
| 38 | Customers Bank | 7(a) | 9 | $6.3M | 0.3% | 2 | +7 |
| 39 | Happen Bank | 7(a) | 9 | $5.4M | 0.3% | 18 | -9 |
| 40 | BrightBridge Credit Union | 7(a) | 9 | $873K | 0.3% | 19 | -10 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2016 | Change |
|---|---|---|---|---|---|---|
| 1 | Middlesex County | 612 | $105M | 21.8% | 604 | +8 |
| 2 | Essex County | 378 | $53.7M | 13.4% | 382 | -4 |
| 3 | Norfolk County | 340 | $67.5M | 12.1% | 330 | +10 |
| 4 | Worcester County | 312 | $62.1M | 11.1% | 270 | +42 |
| 5 | Suffolk County | 285 | $40.0M | 10.1% | 293 | -8 |
| 6 | Plymouth County | 281 | $42.1M | 10.0% | 308 | -27 |
| 7 | Bristol County | 172 | $31.4M | 6.1% | 164 | +8 |
| 8 | Barnstable County | 151 | $30.1M | 5.4% | 153 | -2 |
| 9 | Hampden County | 145 | $33.6M | 5.2% | 166 | -21 |
| 10 | Berkshire County | 72 | $13.0M | 2.6% | 79 | -7 |
| 11 | Hampshire County | 34 | $5.8M | 1.2% | 52 | -18 |
| 12 | Franklin County | 15 | $2.1M | 0.5% | 23 | -8 |
| 13 | Nantucket County | 9 | $1.1M | 0.3% | 8 | +1 |
| 14 | Dukes County | 5 | $1.3M | 0.2% | 4 | +1 |
FY2017 against FY2016
| Massachusetts | FY2017 | FY2016 |
|---|---|---|
| 7(a) approvals | 2,547 | 2,566 |
| 7(a) dollars | $350M | $383M |
| Median 7(a) approval | $50K | $50K |
| 504 approvals | 264 | 270 |
| 504 dollars | $139M | $176M |
| Jobs supported, as reported | 18,302 | 18,722 |
Questions and answers
Which lenders made the most SBA loans in Massachusetts in FY2017?
Eastern Bank (979), Citizens Bank, National Association (208), Beacon Bank and Trust (181), TD Bank, National Association (145), Rockland Trust Company (116). 116 lenders had at least one approval.
How many SBA loans were approved in Massachusetts in FY2017?
2,811: 2,547 under 7(a) worth $350M and 264 under 504 worth $139M.
Which Massachusetts counties had the most SBA approvals in FY2017?
Middlesex County (612), Essex County (378), Norfolk County (340), Worcester County (312), Suffolk County (285).
When does FY2017 start and end?
The federal fiscal year 2017 runs from 1 October 2016 to 30 September 2017.
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