States › Massachusetts › FY2023
FY20231 Oct 2022 – 30 Sep 2023
SBA loans in Massachusetts, FY2023
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 FY2023 (1 October 2022 to 30 September 2023) SBA approved 1,632 loans in Massachusetts: 1,429 under 7(a) and 203 under 504, worth $612M.
That is up 12% on FY2022, when there were 1,463 approvals worth $572M.
Massachusetts accounted for 2.6% of the 63,286 approvals nationwide that year. 126 lenders had at least one approval in the state; Eastern Bank had the most, 247.
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 FY2023, of 126 active.
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2022 | Change |
|---|---|---|---|---|---|---|
| 1 | Middlesex County | 374 | $157M | 22.9% | 326 | +48 |
| 2 | Essex County | 273 | $67.7M | 16.7% | 238 | +35 |
| 3 | Worcester County | 211 | $79.1M | 12.9% | 168 | +43 |
| 4 | Norfolk County | 164 | $58.4M | 10.0% | 148 | +16 |
| 5 | Suffolk County | 141 | $55.2M | 8.6% | 116 | +25 |
| 6 | Plymouth County | 133 | $64.0M | 8.1% | 144 | -11 |
| 7 | Bristol County | 112 | $39.9M | 6.9% | 103 | +9 |
| 8 | Barnstable County | 94 | $28.3M | 5.8% | 88 | +6 |
| 9 | Hampden County | 65 | $22.3M | 4.0% | 71 | -6 |
| 10 | Berkshire County | 22 | $19.8M | 1.3% | 19 | +3 |
| 11 | Hampshire County | 16 | $9.9M | 1.0% | 18 | -2 |
| 12 | Franklin County | 12 | $4.6M | 0.7% | 10 | +2 |
| 13 | Nantucket County | 10 | $4.0M | 0.6% | 9 | +1 |
| 14 | Dukes County | 5 | $1.5M | 0.3% | 5 | 0 |
FY2023 against FY2022
| Massachusetts | FY2023 | FY2022 |
|---|---|---|
| 7(a) approvals | 1,429 | 1,125 |
| 7(a) dollars | $435M | $327M |
| Median 7(a) approval | $100K | $100K |
| 504 approvals | 203 | 338 |
| 504 dollars | $178M | $245M |
| Jobs supported, as reported | 16,158 | 12,515 |
Questions and answers
Which lenders made the most SBA loans in Massachusetts in FY2023?
Eastern Bank (247), TD Bank, National Association (202), Bay Colony Development Corporation (72), Granite State Economic Development Corporation (63), Needham Bank (56). 126 lenders had at least one approval.
How many SBA loans were approved in Massachusetts in FY2023?
1,632: 1,429 under 7(a) worth $435M and 203 under 504 worth $178M.
Which Massachusetts counties had the most SBA approvals in FY2023?
Middlesex County (374), Essex County (273), Worcester County (211), Norfolk County (164), Suffolk County (141).
When does FY2023 start and end?
The federal fiscal year 2023 runs from 1 October 2022 to 30 September 2023.
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