SBA loans in Massachusetts, FY2025

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 FY2025 (1 October 2024 to 30 September 2025) SBA approved 2,283 loans in Massachusetts: 2,038 under 7(a) and 245 under 504, worth $783M.

That is about level with FY2024, when there were 2,142 approvals worth $699M.

Massachusetts accounted for 2.7% of the 84,840 approvals nationwide that year. 144 lenders had at least one approval in the state; Eastern Bank had the most, 323.

2,283approvalsFY2024: 2,142

$783Mdollars approvedFY2024: $699M

$100Kmedian 7(a) approvalFY2024: $100K

144lenders with an approval

18,378jobs 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 FY2025, of 144 active.

#	Lender	Program	Approvals	Dollars	Share of state	FY2024	Change
1	Eastern Bank	7(a)	323	$56.0M	14.1%	346	-23
2	TD Bank, National Association	7(a)	241	$27.3M	10.6%	274	-33
3	Northeast Bank	7(a)	156	$22.9M	6.8%	56	+100
4	Rockland Trust Company	7(a)	149	$43.0M	6.5%	144	+5
5	Manufacturers and Traders Trust Company	7(a)	141	$14.8M	6.2%	87	+54
6	Granite State Economic Development Corporation	504	84	$62.1M	3.7%	72	+12
7	Newtek Bank, National Association	7(a)	84	$33.9M	3.7%	61	+23
8	Bay Colony Development Corporation	504	81	$57.5M	3.5%	77	+4
9	Salem Five Cents Savings Bank	7(a)	75	$14.1M	3.3%	44	+31
10	Beacon Bank and Trust	7(a)	55	$25.1M	2.4%	41	+14
11	The Huntington National Bank	7(a)	47	$21.5M	2.1%	56	-9
12	Bristol County Savings Bank	7(a)	43	$3.4M	1.9%	36	+7
13	Live Oak Banking Company	7(a)	41	$53.3M	1.8%	27	+14
14	Readycap Lending, LLC	7(a)	41	$11.0M	1.8%	46	-5
15	The Cape Cod Five Cents Savings Bank	7(a)	35	$2.5M	1.5%	15	+20
16	New England Certified Development Corporation	504	32	$20.7M	1.4%	39	-7
17	Leader Bank, National Association	7(a)	30	$23.0M	1.3%	29	+1
18	Citizens Bank, National Association	7(a)	29	$13.4M	1.3%	20	+9
19	Bank of America, National Association	7(a)	28	$11.4M	1.2%	44	-16
20	Webster Bank National Association	7(a)	24	$8.4M	1.1%	48	-24
21	BayFirst National Bank	7(a)	22	$3.5M	1.0%	55	-33
22	United Midwest Savings Bank National Association	7(a)	20	$10.8M	0.9%	17	+3
23	Avidia Bank	7(a)	20	$6.6M	0.9%	7	+13
24	Lendistry SBLC, LLC	7(a)	20	$5.3M	0.9%	9	+11
25	Baycoast Bank	7(a)	20	$2.5M	0.9%	10	+10
26	Celtic Bank Corporation	7(a)	19	$3.2M	0.8%	14	+5
27	St. Mary's CU	7(a)	17	$1.5M	0.7%	46	-29
28	Worcester Business Development Corporation	504	15	$12.0M	0.7%	5	+10
29	Santander Bank, National Association	7(a)	15	$1.2M	0.7%	24	-9
30	Cape & Islands Community Development, Inc.	504	14	$11.9M	0.6%	9	+5
31	South Eastern Economic Development Corporation	504	14	$10.1M	0.6%	9	+5
32	Webster Five Cents Savings Bank	7(a)	12	$2.2M	0.5%	17	-5
33	Northwest Bank	7(a)	11	$16.0M	0.5%	3	+8
34	Needham Bank	7(a)	11	$4.1M	0.5%	22	-11
35	South Shore Bank	7(a)	10	$3.2M	0.4%	0	new
36	First Bank of the Lake	7(a)	9	$2.6M	0.4%	12	-3
37	Common Capital Inc.	7(a)	9	$1.2M	0.4%	9	0
38	Harvest Small Business Finance, LLC	7(a)	8	$4.6M	0.4%	2	+6
39	North Brookfield Savings Bank	7(a)	8	$622K	0.4%	4	+4
40	First National Bank of Pennsylvania	7(a)	7	$8.4M	0.3%	3	+4

Approvals by county

#	County	Approvals	Dollars	Share of state	FY2024	Change
1	Middlesex County	548	$187M	24.0%	482	+66
2	Essex County	331	$83.1M	14.5%	336	-5
3	Worcester County	241	$109M	10.6%	245	-4
4	Norfolk County	234	$80.2M	10.2%	257	-23
5	Plymouth County	208	$88.9M	9.1%	166	+42
6	Suffolk County	191	$69.8M	8.4%	202	-11
7	Bristol County	174	$57.4M	7.6%	141	+33
8	Barnstable County	131	$40.1M	5.7%	112	+19
9	Hampden County	105	$34.4M	4.6%	96	+9
10	Hampshire County	46	$14.3M	2.0%	35	+11
11	Berkshire County	34	$10.8M	1.5%	47	-13
12	Franklin County	21	$3.4M	0.9%	9	+12
13	Nantucket County	11	$2.3M	0.5%	5	+6
14	Dukes County	8	$2.0M	0.4%	9	-1

FY2025 against FY2024

Massachusetts	FY2025	FY2024
7(a) approvals	2,038	1,928
7(a) dollars	$596M	$523M
Median 7(a) approval	$100K	$100K
504 approvals	245	214
504 dollars	$187M	$175M
Jobs supported, as reported	18,378	19,098

Questions and answers

Which lenders made the most SBA loans in Massachusetts in FY2025?

Eastern Bank (323), TD Bank, National Association (241), Northeast Bank (156), Rockland Trust Company (149), Manufacturers and Traders Trust Company (141). 144 lenders had at least one approval.

How many SBA loans were approved in Massachusetts in FY2025?

2,283: 2,038 under 7(a) worth $596M and 245 under 504 worth $187M.

Which Massachusetts counties had the most SBA approvals in FY2025?

Middlesex County (548), Essex County (331), Worcester County (241), Norfolk County (234), Plymouth County (208).

When does FY2025 start and end?

The federal fiscal year 2025 runs from 1 October 2024 to 30 September 2025.

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