FY20221 Oct 2021 – 30 Sep 2022
SBA loans in Vermont, 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 159 loans in Vermont: 133 under 7(a) and 26 under 504, worth $52.1M.
That is down 18% on FY2021, when there were 194 approvals worth $73.1M.
Vermont accounted for 0.3% of the 56,932 approvals nationwide that year. 35 lenders had at least one approval in the state; Granite State Economic Development Corporation had the most, 22.
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 35 lenders with the most approvals to Vermont businesses in FY2022, of 35 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2021 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Granite State Economic Development Corporation | 504 | 22 | $10.2M | 13.8% | 38 | -16 |
| 2 | EastRise Federal Credit Union | 7(a) | 19 | $1.2M | 11.9% | 3 | +16 |
| 3 | Community National Bank | 7(a) | 17 | $3.1M | 10.7% | 21 | -4 |
| 4 | Heritage Family FCU | 7(a) | 13 | $1.5M | 8.2% | 7 | +6 |
| 5 | Union Bank | 7(a) | 12 | $1.0M | 7.5% | 7 | +5 |
| 6 | Peoples Trust Company of St. Albans | 7(a) | 9 | $966K | 5.7% | 5 | +4 |
| 7 | Manufacturers and Traders Trust Company | 7(a) | 9 | $875K | 5.7% | 11 | -2 |
| 8 | KeyBank National Association | 7(a) | 7 | $1.1M | 4.4% | 4 | +3 |
| 9 | North Country Federal Credit Union | 7(a) | 7 | $451K | 4.4% | 9 | -2 |
| 10 | TD Bank, National Association | 7(a) | 5 | $3.1M | 3.1% | 10 | -5 |
| 11 | NBT Bank, National Association | 7(a) | 4 | $6.7M | 2.5% | 1 | +3 |
| 12 | Vermont FCU | 7(a) | 3 | $700K | 1.9% | 7 | -4 |
| 13 | The Bank of Bennington | 7(a) | 3 | $540K | 1.9% | 5 | -2 |
| 14 | Vermont 504 Corporation | 7(a) | 3 | $207K | 1.9% | 15 | -12 |
| 15 | Green Mountain CU | 7(a) | 3 | $157K | 1.9% | 2 | +1 |
| 16 | SouthState Bank, National Association | 7(a) | 2 | — | 1.3% | 0 | new |
| 17 | New England Certified Development Corporation | 504 | 2 | — | 1.3% | 4 | -2 |
| 18 | Community Bank, National Association | 7(a) | 2 | — | 1.3% | 1 | +1 |
| 19 | Live Oak Banking Company | 7(a) | 1 | — | 0.6% | 5 | -4 |
| 20 | Bay Colony Development Corporation | 504 | 1 | — | 0.6% | 1 | 0 |
| 21 | Beacon Bank and Trust | 7(a) | 1 | — | 0.6% | 1 | 0 |
| 22 | IncredibleBank | 7(a) | 1 | — | 0.6% | 0 | new |
| 23 | Hometown Bank | 7(a) | 1 | — | 0.6% | 0 | new |
| 24 | Celtic Bank Corporation | 7(a) | 1 | — | 0.6% | 1 | 0 |
| 25 | United Midwest Savings Bank National Association | 7(a) | 1 | — | 0.6% | 4 | -3 |
| 26 | Newtek Small Business Finance, Inc. | 7(a) | 1 | — | 0.6% | 4 | -3 |
| 27 | JPMorgan Chase Bank, National Association | 7(a) | 1 | — | 0.6% | 0 | new |
| 28 | Bar Harbor Bank & Trust | 7(a) | 1 | — | 0.6% | 4 | -3 |
| 29 | Readycap Lending, LLC | 7(a) | 1 | — | 0.6% | 0 | new |
| 30 | Vermont 504 Corporation | 504 | 1 | — | 0.6% | 1 | 0 |
| 31 | Northern Bank and Trust Company | 7(a) | 1 | — | 0.6% | 0 | new |
| 32 | Taunton FCU | 7(a) | 1 | — | 0.6% | 0 | new |
| 33 | BayFirst National Bank | 7(a) | 1 | — | 0.6% | 0 | new |
| 34 | Mascoma Bank | 7(a) | 1 | — | 0.6% | 5 | -4 |
| 35 | National Bank of Middlebury | 7(a) | 1 | — | 0.6% | 5 | -4 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2021 | Change |
|---|---|---|---|---|---|---|
| 1 | Chittenden County | 44 | $14.6M | 27.7% | 69 | -25 |
| 2 | Rutland County | 19 | $7.9M | 11.9% | 13 | +6 |
| 3 | Franklin County | 17 | $2.9M | 10.7% | 9 | +8 |
| 4 | Washington County | 15 | $2.1M | 9.4% | 16 | -1 |
| 5 | Orleans County | 12 | $1.5M | 7.5% | 10 | +2 |
| 6 | Bennington County | 10 | $4.1M | 6.3% | 9 | +1 |
| 7 | Windham County | 10 | $3.7M | 6.3% | 9 | +1 |
| 8 | Windsor County | 7 | $10.1M | 4.4% | 13 | -6 |
| 9 | Orange County | 7 | $1.9M | 4.4% | 5 | +2 |
| 10 | Lamoille County | 7 | $2.4M | 4.4% | 14 | -7 |
| 11 | Caledonia County | 5 | $357K | 3.1% | 9 | -4 |
| 12 | Addison County | 3 | $168K | 1.9% | 15 | -12 |
| 13 | Grand Isle County | 3 | $374K | 1.9% | 3 | 0 |
FY2022 against FY2021
| Vermont | FY2022 | FY2021 |
|---|---|---|
| 7(a) approvals | 133 | 150 |
| 7(a) dollars | $36.3M | $46.4M |
| Median 7(a) approval | $75K | $100K |
| 504 approvals | 26 | 44 |
| 504 dollars | $15.8M | $26.7M |
| Jobs supported, as reported | 1,491 | 1,510 |
Questions and answers
Which lenders made the most SBA loans in Vermont in FY2022?
Granite State Economic Development Corporation (22), EastRise Federal Credit Union (19), Community National Bank (17), Heritage Family FCU (13), Union Bank (12). 35 lenders had at least one approval.
How many SBA loans were approved in Vermont in FY2022?
159: 133 under 7(a) worth $36.3M and 26 under 504 worth $15.8M.
Which Vermont counties had the most SBA approvals in FY2022?
Chittenden County (44), Rutland County (19), Franklin County (17), Washington County (15), Orleans County (12).
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