FY20241 Oct 2023 – 30 Sep 2024
SBA loans in Vermont, FY2024
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 FY2024 (1 October 2023 to 30 September 2024) SBA approved 173 loans in Vermont: 157 under 7(a) and 16 under 504, worth $48.1M.
That is about level with FY2023, when there were 164 approvals worth $46.8M.
Vermont accounted for 0.2% of the 76,235 approvals nationwide that year. 32 lenders had at least one approval in the state; TD Bank, National Association had the most, 36.
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 32 lenders with the most approvals to Vermont businesses in FY2024, of 32 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2023 | Change |
|---|---|---|---|---|---|---|---|
| 1 | TD Bank, National Association | 7(a) | 36 | $8.0M | 20.8% | 17 | +19 |
| 2 | Community National Bank | 7(a) | 31 | $4.3M | 17.9% | 21 | +10 |
| 3 | Manufacturers and Traders Trust Company | 7(a) | 20 | $1.4M | 11.6% | 8 | +12 |
| 4 | Granite State Economic Development Corporation | 504 | 14 | $8.0M | 8.1% | 9 | +5 |
| 5 | Vermont FCU | 7(a) | 8 | $657K | 4.6% | 6 | +2 |
| 6 | Heritage Family FCU | 7(a) | 6 | $674K | 3.5% | 20 | -14 |
| 7 | Northeast Bank | 7(a) | 6 | $418K | 3.5% | 0 | new |
| 8 | North Country Federal Credit Union | 7(a) | 5 | $313K | 2.9% | 6 | -1 |
| 9 | Live Oak Banking Company | 7(a) | 4 | $4.2M | 2.3% | 3 | +1 |
| 10 | The Huntington National Bank | 7(a) | 4 | $3.2M | 2.3% | 3 | +1 |
| 11 | Newtek Bank, National Association | 7(a) | 4 | $2.4M | 2.3% | 0 | new |
| 12 | Vermont Community Loan Fund, Inc. | 7(a) | 4 | $350K | 2.3% | 0 | new |
| 13 | KeyBank National Association | 7(a) | 4 | $65K | 2.3% | 4 | 0 |
| 14 | Bar Harbor Bank & Trust | 7(a) | 3 | $378K | 1.7% | 7 | -4 |
| 15 | Peoples Trust Company of St. Albans | 7(a) | 3 | $370K | 1.7% | 6 | -3 |
| 16 | EastRise Federal Credit Union | 7(a) | 3 | $214K | 1.7% | 17 | -14 |
| 17 | Bank of America, National Association | 7(a) | 2 | — | 1.2% | 0 | new |
| 18 | Readycap Lending, LLC | 7(a) | 2 | — | 1.2% | 1 | +1 |
| 19 | Bay Colony Development Corporation | 504 | 1 | — | 0.6% | 0 | new |
| 20 | Northfield Savings Bank | 7(a) | 1 | — | 0.6% | 0 | new |
| 21 | Bank Five Nine | 7(a) | 1 | — | 0.6% | 0 | new |
| 22 | Pathward National Association | 7(a) | 1 | — | 0.6% | 0 | new |
| 23 | Milestone Bank | 7(a) | 1 | — | 0.6% | 0 | new |
| 24 | OptimumBank | 7(a) | 1 | — | 0.6% | 0 | new |
| 25 | NBT Bank, National Association | 7(a) | 1 | — | 0.6% | 0 | new |
| 26 | Mascoma Bank | 7(a) | 1 | — | 0.6% | 4 | -3 |
| 27 | New England Certified Development Corporation | 504 | 1 | — | 0.6% | 0 | new |
| 28 | Magnifi Financial CU | 7(a) | 1 | — | 0.6% | 0 | new |
| 29 | Beacon Bank and Trust | 7(a) | 1 | — | 0.6% | 2 | -1 |
| 30 | National Bank of Middlebury | 7(a) | 1 | — | 0.6% | 3 | -2 |
| 31 | BayFirst National Bank | 7(a) | 1 | — | 0.6% | 1 | 0 |
| 32 | Savings Bank of Walpole | 7(a) | 1 | — | 0.6% | 1 | 0 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2023 | Change |
|---|---|---|---|---|---|---|
| 1 | Chittenden County | 58 | $20.9M | 33.5% | 38 | +20 |
| 2 | Washington County | 23 | $2.0M | 13.3% | 20 | +3 |
| 3 | Franklin County | 18 | $3.6M | 10.4% | 11 | +7 |
| 4 | Rutland County | 14 | $6.3M | 8.1% | 29 | -15 |
| 5 | Windham County | 14 | $5.3M | 8.1% | 15 | -1 |
| 6 | Bennington County | 10 | $2.7M | 5.8% | 9 | +1 |
| 7 | Caledonia County | 7 | $2.7M | 4.0% | 6 | +1 |
| 8 | Windsor County | 7 | $835K | 4.0% | 9 | -2 |
| 9 | Orleans County | 7 | $1.8M | 4.0% | 7 | 0 |
| 10 | Orange County | 7 | $912K | 4.0% | 9 | -2 |
| 11 | Lamoille County | 6 | $964K | 3.5% | 6 | 0 |
| 12 | Addison County | 2 | — | 1.2% | 3 | -1 |
FY2024 against FY2023
| Vermont | FY2024 | FY2023 |
|---|---|---|
| 7(a) approvals | 157 | 155 |
| 7(a) dollars | $36.0M | $38.5M |
| Median 7(a) approval | $65K | $75K |
| 504 approvals | 16 | 9 |
| 504 dollars | $12.1M | $8.3M |
| Jobs supported, as reported | 1,118 | 1,266 |
Questions and answers
Which lenders made the most SBA loans in Vermont in FY2024?
TD Bank, National Association (36), Community National Bank (31), Manufacturers and Traders Trust Company (20), Granite State Economic Development Corporation (14), Vermont FCU (8). 32 lenders had at least one approval.
How many SBA loans were approved in Vermont in FY2024?
173: 157 under 7(a) worth $36.0M and 16 under 504 worth $12.1M.
Which Vermont counties had the most SBA approvals in FY2024?
Chittenden County (58), Washington County (23), Franklin County (18), Rutland County (14), Windham County (14).
When does FY2024 start and end?
The federal fiscal year 2024 runs from 1 October 2023 to 30 September 2024.
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