States › Massachusetts › FY2018
FY20181 Oct 2017 – 30 Sep 2018
SBA loans in Massachusetts, FY2018
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 FY2018 (1 October 2017 to 30 September 2018) SBA approved 2,398 loans in Massachusetts: 2,128 under 7(a) and 270 under 504, worth $525M.
That is down 15% on FY2017, when there were 2,811 approvals worth $489M.
Massachusetts accounted for 3.6% of the 66,228 approvals nationwide that year. 117 lenders had at least one approval in the state; Eastern Bank had the most, 620.
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 FY2018, of 117 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2017 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Eastern Bank | 7(a) | 620 | $50.9M | 25.9% | 979 | -359 |
| 2 | TD Bank, National Association | 7(a) | 227 | $14.2M | 9.5% | 145 | +82 |
| 3 | Citizens Bank, National Association | 7(a) | 143 | $20.9M | 6.0% | 208 | -65 |
| 4 | Bay Colony Development Corporation | 504 | 93 | $51.5M | 3.9% | 98 | -5 |
| 5 | Beacon Bank and Trust | 7(a) | 92 | $8.5M | 3.8% | 181 | -89 |
| 6 | Granite State Economic Development Corporation | 504 | 76 | $43.0M | 3.2% | 83 | -7 |
| 7 | Rockland Trust Company | 7(a) | 72 | $21.1M | 3.0% | 116 | -44 |
| 8 | Leader Bank, National Association | 7(a) | 70 | $8.0M | 2.9% | 65 | +5 |
| 9 | New England Certified Development Corporation | 504 | 60 | $52.9M | 2.5% | 46 | +14 |
| 10 | Independence Bank | 7(a) | 57 | $2.5M | 2.4% | 22 | +35 |
| 11 | Salem Five Cents Savings Bank | 7(a) | 50 | $11.3M | 2.1% | 32 | +18 |
| 12 | Santander Bank, National Association | 7(a) | 50 | $4.8M | 2.1% | 50 | 0 |
| 13 | Cambridge Savings Bank | 7(a) | 48 | $5.1M | 2.0% | 49 | -1 |
| 14 | Webster Bank National Association | 7(a) | 46 | $17.5M | 1.9% | 21 | +25 |
| 15 | UniBank for Savings | 7(a) | 43 | $4.0M | 1.8% | 64 | -21 |
| 16 | Northeast Bank | 7(a) | 38 | $4.7M | 1.6% | 24 | +14 |
| 17 | St. Mary's CU | 7(a) | 36 | $2.0M | 1.5% | 46 | -10 |
| 18 | Cornerstone Bank | 7(a) | 26 | $4.0M | 1.1% | 21 | +5 |
| 19 | Live Oak Banking Company | 7(a) | 22 | $28.5M | 0.9% | 23 | -1 |
| 20 | South Shore Bank | 7(a) | 22 | $4.3M | 0.9% | 15 | +7 |
| 21 | Avidia Bank | 7(a) | 21 | $15.0M | 0.9% | 33 | -12 |
| 22 | BayFirst National Bank | 7(a) | 20 | $4.4M | 0.8% | 8 | +12 |
| 23 | Celtic Bank Corporation | 7(a) | 20 | $3.3M | 0.8% | 21 | -1 |
| 24 | TruNorth Bank | 7(a) | 20 | $2.0M | 0.8% | 17 | +3 |
| 25 | Cape & Islands Community Development, Inc. | 504 | 17 | $8.4M | 0.7% | 14 | +3 |
| 26 | Manufacturers and Traders Trust Company | 7(a) | 16 | $3.6M | 0.7% | 29 | -13 |
| 27 | The Cape Cod Five Cents Savings Bank | 7(a) | 16 | $1.4M | 0.7% | 19 | -3 |
| 28 | Needham Bank | 7(a) | 15 | $5.9M | 0.6% | 2 | +13 |
| 29 | Fall River Five Cents Savings Bank d/b/a BankFive | 7(a) | 14 | $1.4M | 0.6% | 6 | +8 |
| 30 | Wells Fargo Bank National Association | 7(a) | 12 | $11.8M | 0.5% | 14 | -2 |
| 31 | South Eastern Economic Development Corporation | 504 | 12 | $10.0M | 0.5% | 14 | -2 |
| 32 | Stearns Bank National Association | 7(a) | 12 | $3.8M | 0.5% | 11 | +1 |
| 33 | Bristol County Savings Bank | 7(a) | 12 | $2.1M | 0.5% | 16 | -4 |
| 34 | Greenfield Co-Operative Bank | 7(a) | 12 | $1.1M | 0.5% | 6 | +6 |
| 35 | Workers FCU | 7(a) | 12 | $738K | 0.5% | 9 | +3 |
| 36 | Northern Bank and Trust Company | 7(a) | 11 | $7.8M | 0.5% | 2 | +9 |
| 37 | bankHometown | 7(a) | 10 | $1.8M | 0.4% | 12 | -2 |
| 38 | PeoplesBank | 7(a) | 10 | $763K | 0.4% | 4 | +6 |
| 39 | Bank of America, National Association | 7(a) | 9 | $4.5M | 0.4% | 8 | +1 |
| 40 | Greenfield Savings Bank | 7(a) | 9 | $1.2M | 0.4% | 10 | -1 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2017 | Change |
|---|---|---|---|---|---|---|
| 1 | Middlesex County | 569 | $117M | 23.7% | 612 | -43 |
| 2 | Essex County | 324 | $51.0M | 13.5% | 378 | -54 |
| 3 | Norfolk County | 271 | $80.8M | 11.3% | 340 | -69 |
| 4 | Suffolk County | 263 | $51.9M | 11.0% | 285 | -22 |
| 5 | Plymouth County | 242 | $46.8M | 10.1% | 281 | -39 |
| 6 | Worcester County | 240 | $53.2M | 10.0% | 312 | -72 |
| 7 | Bristol County | 150 | $36.3M | 6.3% | 172 | -22 |
| 8 | Barnstable County | 148 | $43.7M | 6.2% | 151 | -3 |
| 9 | Hampden County | 90 | $15.8M | 3.8% | 145 | -55 |
| 10 | Berkshire County | 38 | $8.7M | 1.6% | 72 | -34 |
| 11 | Hampshire County | 33 | $10.9M | 1.4% | 34 | -1 |
| 12 | Franklin County | 21 | $3.3M | 0.9% | 15 | +6 |
| 13 | Nantucket County | 5 | $3.2M | 0.2% | 9 | -4 |
| 14 | Dukes County | 4 | $1.8M | 0.2% | 5 | -1 |
FY2018 against FY2017
| Massachusetts | FY2018 | FY2017 |
|---|---|---|
| 7(a) approvals | 2,128 | 2,547 |
| 7(a) dollars | $353M | $350M |
| Median 7(a) approval | $60K | $50K |
| 504 approvals | 270 | 264 |
| 504 dollars | $172M | $139M |
| Jobs supported, as reported | 17,153 | 18,302 |
Questions and answers
Which lenders made the most SBA loans in Massachusetts in FY2018?
Eastern Bank (620), TD Bank, National Association (227), Citizens Bank, National Association (143), Bay Colony Development Corporation (93), Beacon Bank and Trust (92). 117 lenders had at least one approval.
How many SBA loans were approved in Massachusetts in FY2018?
2,398: 2,128 under 7(a) worth $353M and 270 under 504 worth $172M.
Which Massachusetts counties had the most SBA approvals in FY2018?
Middlesex County (569), Essex County (324), Norfolk County (271), Suffolk County (263), Plymouth County (242).
When does FY2018 start and end?
The federal fiscal year 2018 runs from 1 October 2017 to 30 September 2018.
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