FY20251 Oct 2024 – 30 Sep 2025
SBA loans in Vermont, 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 228 loans in Vermont: 209 under 7(a) and 19 under 504, worth $82.5M.
That is up 32% on FY2024, when there were 173 approvals worth $48.1M.
Vermont accounted for 0.3% of the 84,840 approvals nationwide that year. 39 lenders had at least one approval in the state; TD Bank, National Association had the most, 45.
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 39 lenders with the most approvals to Vermont businesses in FY2025, of 39 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2024 | Change |
|---|---|---|---|---|---|---|---|
| 1 | TD Bank, National Association | 7(a) | 45 | $3.0M | 19.7% | 36 | +9 |
| 2 | Manufacturers and Traders Trust Company | 7(a) | 38 | $2.8M | 16.7% | 20 | +18 |
| 3 | Community National Bank | 7(a) | 26 | $9.6M | 11.4% | 31 | -5 |
| 4 | Granite State Economic Development Corporation | 504 | 17 | $20.8M | 7.5% | 14 | +3 |
| 5 | Northeast Bank | 7(a) | 16 | $2.2M | 7.0% | 6 | +10 |
| 6 | Heritage Family FCU | 7(a) | 10 | $785K | 4.4% | 6 | +4 |
| 7 | KeyBank National Association | 7(a) | 9 | $1.4M | 3.9% | 4 | +5 |
| 8 | Vermont 504 Corporation | 7(a) | 6 | $1.2M | 2.6% | 0 | new |
| 9 | BayFirst National Bank | 7(a) | 6 | $629K | 2.6% | 1 | +5 |
| 10 | Beacon Bank and Trust | 7(a) | 4 | $6.1M | 1.8% | 1 | +3 |
| 11 | The Huntington National Bank | 7(a) | 4 | $1.9M | 1.8% | 4 | 0 |
| 12 | Bar Harbor Bank & Trust | 7(a) | 4 | $348K | 1.8% | 3 | +1 |
| 13 | North Country Federal Credit Union | 7(a) | 4 | $240K | 1.8% | 5 | -1 |
| 14 | Newtek Bank, National Association | 7(a) | 3 | $5.5M | 1.3% | 4 | -1 |
| 15 | Live Oak Banking Company | 7(a) | 3 | $600K | 1.3% | 4 | -1 |
| 16 | Celtic Bank Corporation | 7(a) | 3 | $396K | 1.3% | 0 | new |
| 17 | Vermont Community Loan Fund, Inc. | 7(a) | 3 | $375K | 1.3% | 4 | -1 |
| 18 | First Bank of the Lake | 7(a) | 2 | — | 0.9% | 0 | new |
| 19 | Citizens Bank, National Association | 7(a) | 2 | — | 0.9% | 0 | new |
| 20 | Northfield Savings Bank | 7(a) | 2 | — | 0.9% | 1 | +1 |
| 21 | Passumpsic Savings Bank | 7(a) | 2 | — | 0.9% | 0 | new |
| 22 | Peoples Trust Company of St. Albans | 7(a) | 2 | — | 0.9% | 3 | -1 |
| 23 | Bank Five Nine | 7(a) | 1 | — | 0.4% | 1 | 0 |
| 24 | National Cooperative Bank, National Association | 7(a) | 1 | — | 0.4% | 0 | new |
| 25 | United Midwest Savings Bank National Association | 7(a) | 1 | — | 0.4% | 0 | new |
| 26 | First Financial Bank | 7(a) | 1 | — | 0.4% | 0 | new |
| 27 | Mission Valley Bank | 7(a) | 1 | — | 0.4% | 0 | new |
| 28 | Bay Colony Development Corporation | 504 | 1 | — | 0.4% | 1 | 0 |
| 29 | Capital Regional Development Council | 504 | 1 | — | 0.4% | 0 | new |
| 30 | Citizens Bank | 7(a) | 1 | — | 0.4% | 0 | new |
| 31 | City National Bank of Florida | 7(a) | 1 | — | 0.4% | 0 | new |
| 32 | NBT Bank, National Association | 7(a) | 1 | — | 0.4% | 1 | 0 |
| 33 | OptimumBank | 7(a) | 1 | — | 0.4% | 1 | 0 |
| 34 | CenTrust Bank, A Division of SmartBiz Bank National Association | 7(a) | 1 | — | 0.4% | 0 | new |
| 35 | Mascoma Bank | 7(a) | 1 | — | 0.4% | 1 | 0 |
| 36 | Union Bank | 7(a) | 1 | — | 0.4% | 0 | new |
| 37 | EastRise Federal Credit Union | 7(a) | 1 | — | 0.4% | 3 | -2 |
| 38 | Community Bank, National Association | 7(a) | 1 | — | 0.4% | 0 | new |
| 39 | Vermont FCU | 7(a) | 1 | — | 0.4% | 8 | -7 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2024 | Change |
|---|---|---|---|---|---|---|
| 1 | Chittenden County | 64 | $28.3M | 28.1% | 58 | +6 |
| 2 | Windham County | 22 | $5.7M | 9.6% | 14 | +8 |
| 3 | Windsor County | 19 | $7.7M | 8.3% | 7 | +12 |
| 4 | Rutland County | 18 | $4.9M | 7.9% | 14 | +4 |
| 5 | Franklin County | 17 | $9.0M | 7.5% | 18 | -1 |
| 6 | Washington County | 16 | $5.6M | 7.0% | 23 | -7 |
| 7 | Lamoille County | 15 | $10.0M | 6.6% | 6 | +9 |
| 8 | Caledonia County | 13 | $2.4M | 5.7% | 7 | +6 |
| 9 | Bennington County | 12 | $4.8M | 5.3% | 10 | +2 |
| 10 | Orange County | 12 | $2.1M | 5.3% | 7 | +5 |
| 11 | Addison County | 10 | $1.1M | 4.4% | 2 | +8 |
| 12 | Orleans County | 7 | $380K | 3.1% | 7 | 0 |
| 13 | Grand Isle County | 3 | $500K | 1.3% | 0 | new |
FY2025 against FY2024
| Vermont | FY2025 | FY2024 |
|---|---|---|
| 7(a) approvals | 209 | 157 |
| 7(a) dollars | $60.1M | $36.0M |
| Median 7(a) approval | $60K | $65K |
| 504 approvals | 19 | 16 |
| 504 dollars | $22.4M | $12.1M |
| Jobs supported, as reported | 1,563 | 1,118 |
Questions and answers
Which lenders made the most SBA loans in Vermont in FY2025?
TD Bank, National Association (45), Manufacturers and Traders Trust Company (38), Community National Bank (26), Granite State Economic Development Corporation (17), Northeast Bank (16). 39 lenders had at least one approval.
How many SBA loans were approved in Vermont in FY2025?
228: 209 under 7(a) worth $60.1M and 19 under 504 worth $22.4M.
Which Vermont counties had the most SBA approvals in FY2025?
Chittenden County (64), Windham County (22), Windsor County (19), Rutland County (18), Franklin County (17).
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