FY20211 Oct 2020 – 30 Sep 2021
SBA loans in Vermont, FY2021
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 FY2021 (1 October 2020 to 30 September 2021) SBA approved 194 loans in Vermont: 150 under 7(a) and 44 under 504, worth $73.1M.
That is about level with FY2020, when there were 196 approvals worth $35.5M.
Vermont accounted for 0.3% of the 61,532 approvals nationwide that year. 36 lenders had at least one approval in the state; Granite State Economic Development Corporation had the most, 38.
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 36 lenders with the most approvals to Vermont businesses in FY2021, of 36 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2020 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Granite State Economic Development Corporation | 504 | 38 | $18.0M | 19.6% | 25 | +13 |
| 2 | Community National Bank | 7(a) | 21 | $4.0M | 10.8% | 50 | -29 |
| 3 | Vermont 504 Corporation | 7(a) | 15 | $2.4M | 7.7% | 14 | +1 |
| 4 | Manufacturers and Traders Trust Company | 7(a) | 11 | $2.2M | 5.7% | 16 | -5 |
| 5 | TD Bank, National Association | 7(a) | 10 | $2.6M | 5.2% | 6 | +4 |
| 6 | North Country Federal Credit Union | 7(a) | 9 | $670K | 4.6% | 10 | -1 |
| 7 | Heritage Family FCU | 7(a) | 7 | $1.1M | 3.6% | 4 | +3 |
| 8 | Vermont FCU | 7(a) | 7 | $615K | 3.6% | 0 | new |
| 9 | Union Bank | 7(a) | 7 | $306K | 3.6% | 16 | -9 |
| 10 | Live Oak Banking Company | 7(a) | 5 | $7.1M | 2.6% | 1 | +4 |
| 11 | National Bank of Middlebury | 7(a) | 5 | $1.6M | 2.6% | 3 | +2 |
| 12 | Mascoma Bank | 7(a) | 5 | $1.1M | 2.6% | 0 | new |
| 13 | Peoples Trust Company of St. Albans | 7(a) | 5 | $325K | 2.6% | 1 | +4 |
| 14 | The Bank of Bennington | 7(a) | 5 | $220K | 2.6% | 2 | +3 |
| 15 | New England Certified Development Corporation | 504 | 4 | $6.9M | 2.1% | 0 | new |
| 16 | United Midwest Savings Bank National Association | 7(a) | 4 | $3.9M | 2.1% | 0 | new |
| 17 | KeyBank National Association | 7(a) | 4 | $2.4M | 2.1% | 3 | +1 |
| 18 | Newtek Small Business Finance, Inc. | 7(a) | 4 | $2.0M | 2.1% | 2 | +2 |
| 19 | Bar Harbor Bank & Trust | 7(a) | 4 | $415K | 2.1% | 10 | -6 |
| 20 | Byline Bank | 7(a) | 3 | $2.8M | 1.5% | 1 | +2 |
| 21 | EastRise Federal Credit Union | 7(a) | 3 | $385K | 1.5% | 11 | -8 |
| 22 | Citizens Bank, National Association | 7(a) | 2 | — | 1.0% | 0 | new |
| 23 | Passumpsic Savings Bank | 7(a) | 2 | — | 1.0% | 1 | +1 |
| 24 | Green Mountain CU | 7(a) | 2 | — | 1.0% | 1 | +1 |
| 25 | Ledyard National Bank | 7(a) | 1 | — | 0.5% | 1 | 0 |
| 26 | CRF Small Business Loan Company, LLC | 7(a) | 1 | — | 0.5% | 0 | new |
| 27 | Celtic Bank Corporation | 7(a) | 1 | — | 0.5% | 0 | new |
| 28 | Bay Colony Development Corporation | 504 | 1 | — | 0.5% | 0 | new |
| 29 | First Bank | 7(a) | 1 | — | 0.5% | 0 | new |
| 30 | Vermont 504 Corporation | 504 | 1 | — | 0.5% | 1 | 0 |
| 31 | Gulf Coast Bank and Trust Company | 7(a) | 1 | — | 0.5% | 0 | new |
| 32 | Community Bank, National Association | 7(a) | 1 | — | 0.5% | 0 | new |
| 33 | Claremont Savings Bank | 7(a) | 1 | — | 0.5% | 0 | new |
| 34 | NBT Bank, National Association | 7(a) | 1 | — | 0.5% | 0 | new |
| 35 | Savings Bank of Walpole | 7(a) | 1 | — | 0.5% | 1 | 0 |
| 36 | Beacon Bank and Trust | 7(a) | 1 | — | 0.5% | 2 | -1 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2020 | Change |
|---|---|---|---|---|---|---|
| 1 | Chittenden County | 69 | $35.9M | 35.6% | 50 | +19 |
| 2 | Washington County | 16 | $4.9M | 8.2% | 42 | -26 |
| 3 | Addison County | 15 | $7.6M | 7.7% | 10 | +5 |
| 4 | Lamoille County | 14 | $2.4M | 7.2% | 16 | -2 |
| 5 | Windsor County | 13 | $3.1M | 6.7% | 9 | +4 |
| 6 | Rutland County | 13 | $2.5M | 6.7% | 11 | +2 |
| 7 | Orleans County | 10 | $1.9M | 5.2% | 12 | -2 |
| 8 | Caledonia County | 9 | $840K | 4.6% | 10 | -1 |
| 9 | Bennington County | 9 | $4.4M | 4.6% | 6 | +3 |
| 10 | Windham County | 9 | $4.2M | 4.6% | 5 | +4 |
| 11 | Franklin County | 9 | $4.3M | 4.6% | 10 | -1 |
| 12 | Orange County | 5 | $457K | 2.6% | 15 | -10 |
| 13 | Grand Isle County | 3 | $611K | 1.5% | 0 | new |
FY2021 against FY2020
| Vermont | FY2021 | FY2020 |
|---|---|---|
| 7(a) approvals | 150 | 170 |
| 7(a) dollars | $46.4M | $25.0M |
| Median 7(a) approval | $100K | $65K |
| 504 approvals | 44 | 26 |
| 504 dollars | $26.7M | $10.5M |
| Jobs supported, as reported | 1,510 | 1,163 |
Questions and answers
Which lenders made the most SBA loans in Vermont in FY2021?
Granite State Economic Development Corporation (38), Community National Bank (21), Vermont 504 Corporation (15), Manufacturers and Traders Trust Company (11), TD Bank, National Association (10). 36 lenders had at least one approval.
How many SBA loans were approved in Vermont in FY2021?
194: 150 under 7(a) worth $46.4M and 44 under 504 worth $26.7M.
Which Vermont counties had the most SBA approvals in FY2021?
Chittenden County (69), Washington County (16), Addison County (15), Lamoille County (14), Windsor County (13).
When does FY2021 start and end?
The federal fiscal year 2021 runs from 1 October 2020 to 30 September 2021.
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