SBA loans in Massachusetts, FY2022

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 FY2022 (1 October 2021 to 30 September 2022) SBA approved 1,463 loans in Massachusetts: 1,125 under 7(a) and 338 under 504, worth $572M.

That is about level with FY2021, when there were 1,445 approvals worth $687M.

Massachusetts accounted for 2.6% of the 56,932 approvals nationwide that year. 119 lenders had at least one approval in the state; Eastern Bank had the most, 260.

1,463approvalsFY2021: 1,445

$572Mdollars approvedFY2021: $687M

$100Kmedian 7(a) approvalFY2021: $150K

119lenders with an approval

12,515jobs 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 Massachusetts businesses in FY2022, of 119 active.

#	Lender	Program	Approvals	Dollars	Share of state	FY2021	Change
1	Eastern Bank	7(a)	260	$36.7M	17.8%	200	+60
2	Bay Colony Development Corporation	504	121	$76.5M	8.3%	128	-7
3	Granite State Economic Development Corporation	504	105	$73.2M	7.2%	105	0
4	TD Bank, National Association	7(a)	89	$10.0M	6.1%	71	+18
5	New England Certified Development Corporation	504	59	$54.6M	4.0%	54	+5
6	Needham Bank	7(a)	58	$8.0M	4.0%	45	+13
7	Webster Bank National Association	7(a)	56	$15.2M	3.8%	66	-10
8	St. Mary's CU	7(a)	41	$3.0M	2.8%	34	+7
9	Salem Five Cents Savings Bank	7(a)	38	$14.4M	2.6%	26	+12
10	Rockland Trust Company	7(a)	32	$10.2M	2.2%	45	-13
11	Santander Bank, National Association	7(a)	32	$1.7M	2.2%	1	+31
12	Beacon Bank and Trust	7(a)	28	$12.3M	1.9%	38	-10
13	Newtek Small Business Finance, Inc.	7(a)	25	$12.2M	1.7%	20	+5
14	The Cape Cod Five Cents Savings Bank	7(a)	24	$2.6M	1.6%	16	+8
15	South Eastern Economic Development Corporation	504	22	$20.3M	1.5%	22	0
16	Leader Bank, National Association	7(a)	19	$10.4M	1.3%	53	-34
17	Northern Bank and Trust Company	7(a)	19	$8.3M	1.3%	11	+8
18	Bristol County Savings Bank	7(a)	17	$2.7M	1.2%	19	-2
19	Live Oak Banking Company	7(a)	16	$28.8M	1.1%	47	-31
20	Cape & Islands Community Development, Inc.	504	16	$12.8M	1.1%	22	-6
21	Cambridge Savings Bank	7(a)	16	$5.0M	1.1%	23	-7
22	Citizens Bank, National Association	7(a)	15	$8.6M	1.0%	16	-1
23	Webster Five Cents Savings Bank	7(a)	15	$2.8M	1.0%	6	+9
24	The Huntington National Bank	7(a)	13	$4.7M	0.9%	10	+3
25	Worcester Business Development Corporation	504	12	$5.6M	0.8%	9	+3
26	Bank of America, National Association	7(a)	12	$5.4M	0.8%	4	+8
27	BayFirst National Bank	7(a)	12	$2.0M	0.8%	7	+5
28	Workers FCU	7(a)	12	$1.0M	0.8%	11	+1
29	Avidia Bank	7(a)	11	$4.7M	0.8%	12	-1
30	Readycap Lending, LLC	7(a)	11	$2.0M	0.8%	4	+7
31	TruNorth Bank	7(a)	10	$2.8M	0.7%	15	-5
32	Newburyport Five Cents Savings Bank	7(a)	9	$1.7M	0.6%	10	-1
33	Common Capital Inc.	7(a)	9	$1.5M	0.6%	2	+7
34	Cornerstone Bank	7(a)	9	$1.5M	0.6%	6	+3
35	Fall River Five Cents Savings Bank d/b/a BankFive	7(a)	9	$956K	0.6%	10	-1
36	Celtic Bank Corporation	7(a)	8	$6.0M	0.5%	4	+4
37	Middlesex Savings Bank	7(a)	8	$4.6M	0.5%	0	new
38	Dean Co-operative Bank	7(a)	8	$864K	0.5%	3	+5
39	KeyBank National Association	7(a)	7	$5.7M	0.5%	10	-3
40	Mechanics Cooperative Bank	7(a)	7	$862K	0.5%	9	-2

Approvals by county

#	County	Approvals	Dollars	Share of state	FY2021	Change
1	Middlesex County	326	$126M	22.3%	356	-30
2	Essex County	238	$83.2M	16.3%	222	+16
3	Worcester County	168	$81.7M	11.5%	127	+41
4	Norfolk County	148	$69.5M	10.1%	172	-24
5	Plymouth County	144	$43.2M	9.8%	128	+16
6	Suffolk County	116	$42.7M	7.9%	97	+19
7	Bristol County	103	$40.0M	7.0%	103	0
8	Barnstable County	88	$32.1M	6.0%	90	-2
9	Hampden County	71	$27.0M	4.9%	52	+19
10	Berkshire County	19	$7.4M	1.3%	42	-23
11	Hampshire County	18	$3.1M	1.2%	22	-4
12	Franklin County	10	$4.9M	0.7%	16	-6
13	Nantucket County	9	$5.9M	0.6%	12	-3
14	Dukes County	5	$5.2M	0.3%	6	-1

FY2022 against FY2021

Massachusetts	FY2022	FY2021
7(a) approvals	1,125	1,103
7(a) dollars	$327M	$480M
Median 7(a) approval	$100K	$150K
504 approvals	338	342
504 dollars	$245M	$207M
Jobs supported, as reported	12,515	15,074

Questions and answers

Which lenders made the most SBA loans in Massachusetts in FY2022?

Eastern Bank (260), Bay Colony Development Corporation (121), Granite State Economic Development Corporation (105), TD Bank, National Association (89), New England Certified Development Corporation (59). 119 lenders had at least one approval.

How many SBA loans were approved in Massachusetts in FY2022?

1,463: 1,125 under 7(a) worth $327M and 338 under 504 worth $245M.

Which Massachusetts counties had the most SBA approvals in FY2022?

Middlesex County (326), Essex County (238), Worcester County (168), Norfolk County (148), Plymouth County (144).

When does FY2022 start and end?

The federal fiscal year 2022 runs from 1 October 2021 to 30 September 2022.

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