FY20231 Oct 2022 – 30 Sep 2023
SBA loans in Vermont, 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 164 loans in Vermont: 155 under 7(a) and 9 under 504, worth $46.8M.
That is about level with FY2022, when there were 159 approvals worth $52.1M.
Vermont accounted for 0.3% of the 63,286 approvals nationwide that year. 34 lenders had at least one approval in the state; Community National Bank had the most, 21.
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 34 lenders with the most approvals to Vermont businesses in FY2023, of 34 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2022 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Community National Bank | 7(a) | 21 | $2.5M | 12.8% | 17 | +4 |
| 2 | Heritage Family FCU | 7(a) | 20 | $2.5M | 12.2% | 13 | +7 |
| 3 | TD Bank, National Association | 7(a) | 17 | $2.6M | 10.4% | 5 | +12 |
| 4 | EastRise Federal Credit Union | 7(a) | 17 | $1.3M | 10.4% | 19 | -2 |
| 5 | Granite State Economic Development Corporation | 504 | 9 | $8.3M | 5.5% | 22 | -13 |
| 6 | Manufacturers and Traders Trust Company | 7(a) | 8 | $515K | 4.9% | 9 | -1 |
| 7 | Bar Harbor Bank & Trust | 7(a) | 7 | $1.1M | 4.3% | 1 | +6 |
| 8 | Vermont FCU | 7(a) | 6 | $575K | 3.7% | 3 | +3 |
| 9 | Peoples Trust Company of St. Albans | 7(a) | 6 | $426K | 3.7% | 9 | -3 |
| 10 | North Country Federal Credit Union | 7(a) | 6 | $256K | 3.7% | 7 | -1 |
| 11 | The Bank of Bennington | 7(a) | 5 | $237K | 3.0% | 3 | +2 |
| 12 | KeyBank National Association | 7(a) | 4 | $536K | 2.4% | 7 | -3 |
| 13 | Mascoma Bank | 7(a) | 4 | $485K | 2.4% | 1 | +3 |
| 14 | Live Oak Banking Company | 7(a) | 3 | $1.9M | 1.8% | 1 | +2 |
| 15 | Newtek Small Business Finance, Inc. | 7(a) | 3 | $766K | 1.8% | 1 | +2 |
| 16 | The Huntington National Bank | 7(a) | 3 | $750K | 1.8% | 0 | new |
| 17 | National Bank of Middlebury | 7(a) | 3 | $485K | 1.8% | 1 | +2 |
| 18 | Celtic Bank Corporation | 7(a) | 2 | — | 1.2% | 1 | +1 |
| 19 | Beacon Bank and Trust | 7(a) | 2 | — | 1.2% | 1 | +1 |
| 20 | JPMorgan Chase Bank, National Association | 7(a) | 2 | — | 1.2% | 1 | +1 |
| 21 | Union Bank | 7(a) | 2 | — | 1.2% | 12 | -10 |
| 22 | Green Mountain CU | 7(a) | 2 | — | 1.2% | 3 | -1 |
| 23 | MVB Bank, Inc. | 7(a) | 1 | — | 0.6% | 0 | new |
| 24 | Byline Bank | 7(a) | 1 | — | 0.6% | 0 | new |
| 25 | Ledyard National Bank | 7(a) | 1 | — | 0.6% | 0 | new |
| 26 | First Internet Bank of Indiana | 7(a) | 1 | — | 0.6% | 0 | new |
| 27 | 22nd State Bank, A Division of 22nd State Banking Company | 7(a) | 1 | — | 0.6% | 0 | new |
| 28 | Readycap Lending, LLC | 7(a) | 1 | — | 0.6% | 1 | 0 |
| 29 | First National Bank of Pennsylvania | 7(a) | 1 | — | 0.6% | 0 | new |
| 30 | Community Bank, National Association | 7(a) | 1 | — | 0.6% | 2 | -1 |
| 31 | TowneBank | 7(a) | 1 | — | 0.6% | 0 | new |
| 32 | Savings Bank of Walpole | 7(a) | 1 | — | 0.6% | 0 | new |
| 33 | BayFirst National Bank | 7(a) | 1 | — | 0.6% | 1 | 0 |
| 34 | Vermont 504 Corporation | 7(a) | 1 | — | 0.6% | 3 | -2 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2022 | Change |
|---|---|---|---|---|---|---|
| 1 | Chittenden County | 38 | $7.9M | 23.2% | 44 | -6 |
| 2 | Rutland County | 29 | $7.7M | 17.7% | 19 | +10 |
| 3 | Washington County | 20 | $6.0M | 12.2% | 15 | +5 |
| 4 | Windham County | 15 | $9.2M | 9.1% | 10 | +5 |
| 5 | Franklin County | 11 | $978K | 6.7% | 17 | -6 |
| 6 | Windsor County | 9 | $1.7M | 5.5% | 7 | +2 |
| 7 | Bennington County | 9 | $715K | 5.5% | 10 | -1 |
| 8 | Orange County | 9 | $4.3M | 5.5% | 7 | +2 |
| 9 | Orleans County | 7 | $1.7M | 4.3% | 12 | -5 |
| 10 | Caledonia County | 6 | $982K | 3.7% | 5 | +1 |
| 11 | Lamoille County | 6 | $1.1M | 3.7% | 7 | -1 |
| 12 | Addison County | 3 | $4.4M | 1.8% | 3 | 0 |
| 13 | Grand Isle County | 1 | — | 0.6% | 3 | -2 |
| 14 | Essex County | 1 | — | 0.6% | 0 | new |
FY2023 against FY2022
| Vermont | FY2023 | FY2022 |
|---|---|---|
| 7(a) approvals | 155 | 133 |
| 7(a) dollars | $38.5M | $36.3M |
| Median 7(a) approval | $75K | $75K |
| 504 approvals | 9 | 26 |
| 504 dollars | $8.3M | $15.8M |
| Jobs supported, as reported | 1,266 | 1,491 |
Questions and answers
Which lenders made the most SBA loans in Vermont in FY2023?
Community National Bank (21), Heritage Family FCU (20), TD Bank, National Association (17), EastRise Federal Credit Union (17), Granite State Economic Development Corporation (9). 34 lenders had at least one approval.
How many SBA loans were approved in Vermont in FY2023?
164: 155 under 7(a) worth $38.5M and 9 under 504 worth $8.3M.
Which Vermont counties had the most SBA approvals in FY2023?
Chittenden County (38), Rutland County (29), Washington County (20), Windham County (15), Franklin County (11).
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