SBA Ledger

States › Rhode Island › FY2025

FY20251 Oct 2024 – 30 Sep 2025

SBA loans in Rhode Island, 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 376 loans in Rhode Island: 331 under 7(a) and 45 under 504, worth $139M.

That is up 27% on FY2024, when there were 295 approvals worth $93.9M.

Rhode Island accounted for 0.4% of the 84,840 approvals nationwide that year. 53 lenders had at least one approval in the state; BankNewport had the most, 72.

376approvalsFY2024: 295
$139Mdollars approvedFY2024: $93.9M
$100Kmedian 7(a) approvalFY2024: $100K
53lenders with an approval
2,749jobs 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 Rhode Island businesses in FY2025, of 53 active.

#LenderProgramApprovalsDollarsShare of stateFY2024Change
1BankNewport7(a)72$4.5M19.1%31+41
2Northeast Bank7(a)27$4.5M7.2%3+24
3Beacon Bank and Trust7(a)25$7.0M6.6%31-6
4Eastern Bank7(a)25$5.3M6.6%12+13
5TD Bank, National Association7(a)25$1.8M6.6%30-5
6Ocean State Business Development Authority50420$17.0M5.3%23-3
7Bristol County Savings Bank7(a)15$5.1M4.0%10+5
8Citizens Bank, National Association7(a)12$10.5M3.2%1+11
9The Huntington National Bank7(a)12$6.5M3.2%8+4
10New England Certified Development Corporation50411$9.0M2.9%5+6
11Bay Colony Development Corporation50411$6.0M2.9%10+1
12Live Oak Banking Company7(a)9$11.2M2.4%2+7
13Webster Bank National Association7(a)9$2.2M2.4%15-6
14Readycap Lending, LLC7(a)8$3.1M2.1%11-3
15Shoreham Bank7(a)7$3.1M1.9%3+4
16Rockland Trust Company7(a)7$2.8M1.9%3+4
17Navigant CU7(a)7$1.7M1.9%11-4
18Newtek Bank, National Association7(a)6$4.0M1.6%12-6
19Community Investment Corporation7(a)5$633K1.3%6-1
20Celtic Bank Corporation7(a)5$525K1.3%2+3
21First Internet Bank of Indiana7(a)4$4.2M1.1%0new
22Bank of America, National Association7(a)4$2.0M1.1%9-5
23The Washington Trust Company of Westerly7(a)4$1.3M1.1%1+3
24BayFirst National Bank7(a)4$424K1.1%7-3
25Santander Bank, National Association7(a)4$288K1.1%10-6
26Baycoast Bank7(a)3$653K0.8%30
27Dean Co-operative Bank7(a)3$590K0.8%0new
28JPMorgan Chase Bank, National Association7(a)3$280K0.8%5-2
29South Eastern Economic Development Corporation5042—0.5%1+1
30First Bank of the Lake7(a)2—0.5%1+1
31Heritage Bank Inc7(a)2—0.5%1+1
32Lendistry SBLC, LLC7(a)2—0.5%20
33Bank Five Nine7(a)1—0.3%10
34Meridian Bank7(a)1—0.3%0new
35Commonwealth Business Bank7(a)1—0.3%0new
36Truliant FCU7(a)1—0.3%0new
37First Financial Bank7(a)1—0.3%0new
38Oconee State Bank7(a)1—0.3%0new
39Community Investment Corporation5041—0.3%4-3
40Citizens Bank7(a)1—0.3%0new

Approvals by county

#CountyApprovalsDollarsShare of stateFY2024Change
1Providence County186$61.7M49.5%165+21
2Kent County73$35.2M19.4%52+21
3Newport County54$14.6M14.4%40+14
4Washington County43$22.4M11.4%28+15
5Bristol County20$5.0M5.3%10+10

FY2025 against FY2024

Rhode IslandFY2025FY2024
7(a) approvals331252
7(a) dollars$105M$77.4M
Median 7(a) approval$100K$100K
504 approvals4543
504 dollars$33.8M$16.5M
Jobs supported, as reported2,7492,188

Questions and answers

Which lenders made the most SBA loans in Rhode Island in FY2025?

BankNewport (72), Northeast Bank (27), Beacon Bank and Trust (25), Eastern Bank (25), TD Bank, National Association (25). 53 lenders had at least one approval.

How many SBA loans were approved in Rhode Island in FY2025?

376: 331 under 7(a) worth $105M and 45 under 504 worth $33.8M.

Which Rhode Island counties had the most SBA approvals in FY2025?

Providence County (186), Kent County (73), Newport County (54), Washington County (43), Bristol County (20).

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