Best SBA lenders
Best SBA lenders in Connecticut
The most active SBA lenders in Connecticut, ranked from every 7(a) and 504 loan in the SBA's public record, FY2010-2026. Manufacturers and Traders Trust Company leads with 1,884 loans funded.
By Mario Bailey · Source: SBA FOIA 7(a) and 504 data, FY2010–2026, as of 2026-03-31
Top SBA lenders in Connecticut
The full Connecticut ranking, by SBA loans funded since FY2010. Every figure is in-state: each lender's loans, dollars, average loan size, and 7(a) charge-off rate cover its Connecticut lending only, not its national book. A charge-off rate appears only when a lender has at least 20 funded 7(a) loans in Connecticut; below that line, and on 504-only lending, it reads “not reported,” never 0%.
| # | Lender | Loans | Total funded | Average loan | 7(a) charge-off |
|---|---|---|---|---|---|
| 1 | Manufacturers and Traders Trust Company | 1,884 | $287.5M | $153K | 3.45% |
| 2 | Webster Bank National Association | 1,428 | $422.9M | $296K | 1.89% |
| 3 | TD Bank, National Association | 986 | $162.4M | $165K | 7.51% |
| 4 | Community Investment Corporation | 711 | $383.2M | $539K | 6.02% |
| 5 | Liberty Bank | 639 | $97.6M | $153K | 2.50% |
| 6 | KeyBank National Association | 487 | $145.4M | $299K | 2.26% |
| 7 | New England Certified Development Corporation | 461 | $367.8M | $798K | not reported |
| 8 | Beacon Bank and Trust | 393 | $139.1M | $354K | 4.58% |
| 9 | Wells Fargo Bank National Association | 325 | $112.3M | $346K | 6.15% |
| 10 | Newtek Small Business Finance, Inc. | 273 | $224.6M | $823K | 2.20% |
| 11 | Citizens Bank, National Association | 268 | $55.6M | $208K | 3.36% |
| 12 | Live Oak Banking Company | 238 | $288.0M | $1.2M | 0.00% |
| 13 | JPMorgan Chase Bank, National Association | 230 | $44.0M | $191K | 8.26% |
| 14 | Ives Bank | 182 | $63.1M | $346K | 2.20% |
| 15 | Northeast Bank | 182 | $37.7M | $207K | 0.00% |
| 16 | Celtic Bank Corporation | 179 | $134.4M | $751K | 9.50% |
| 17 | Thomaston Savings Bank | 174 | $32.4M | $186K | 4.60% |
| 18 | Newtek Bank, National Association | 171 | $84.7M | $495K | 0.00% |
| 19 | Newtown Savings Bank | 159 | $41.1M | $259K | 2.52% |
| 20 | Union Savings Bank | 154 | $19.4M | $126K | 1.30% |
| 21 | Bankwell Bank | 148 | $59.5M | $402K | 4.73% |
| 22 | BayFirst National Bank | 143 | $27.9M | $195K | 3.50% |
| 23 | Santander Bank, National Association | 124 | $18.3M | $148K | 4.84% |
| 24 | The Huntington National Bank | 122 | $42.7M | $350K | 1.64% |
| 25 | Readycap Lending, LLC | 107 | $52.0M | $486K | 1.87% |
SBA 7(a) and 504 loans, FY2010–2026, as of 2026-03-31, from the SBA's public record.
7(a) banks vs 504 lenders (CDCs) in Connecticut
The two SBA programs have different lenders. A 7(a) loan comes from one bank or credit union; a 504 project pairs a bank with a Certified Development Company (CDC), the nonprofit that funds the SBA-backed portion. The leaders in Connecticut by each program's loans funded since FY2010:
- 1. Manufacturers and Traders Trust Company 1,884 loans
- 2. Webster Bank National Association 1,428 loans
- 3. TD Bank, National Association 986 loans
- 4. Liberty Bank 639 loans
- 5. KeyBank National Association 487 loans
- 1. Community Investment Corporation 628 loans
- 2. New England Certified Development Corporation 461 loans
- 3. Housatonic Industrial Development Corporation 55 loans
- 4. Bay Colony Development Corporation 48 loans
- 5. Ocean State Business Development Authority 15 loans
Counts are each program's funded loans in Connecticut. How the two programs differ: 504 vs 7(a), by the data.
Where SBA lending concentrates in Connecticut
The 3 industries with the most SBA loans in Connecticut since FY2010, and the most active lender in each. A lender that leads your industry locally can matter more than the overall #1.
| Industry | Loans | Total funded | Most active lender |
|---|---|---|---|
| Retail Trade | 1,735 | $626.1M | Manufacturers and Traders Trust Company (272 loans) |
| Construction | 1,644 | $377.0M | Manufacturers and Traders Trust Company (379 loans) |
| Accommodation and Food Services | 1,337 | $688.9M | Manufacturers and Traders Trust Company (157 loans) |
Full industry, city, and yearly breakdowns: SBA lending in Connecticut.
How this ranking works
- “Most active” means loans funded. The ranking counts every SBA 7(a) and 504 loan funded to Connecticut businesses in the SBA's public FOIA record, FY2010–2026, as of 2026-03-31. No lender pays to appear or to rank, and activity is not a fit score: the right lender for you depends on your industry, loan size, and timeline.
- The 10-loan line. A lender enters the Connecticut table only with at least 10 loans funded in-state, so one-off activity never reads as a track record. Industry cells above are held to at least 30 loans.
- Charge-off is 7(a)-only and needs 20+ loans. The SBA reports charge-offs on 7(a) loans, never on 504 loans. We show an in-state rate only when a lender has at least 20 funded 7(a) loans in Connecticut; anything thinner reads “not reported,” never 0%. It is a charge-off share of funded loans to date, not a lifetime default rate.
- Name collisions are excluded, and counted. The SBA does not normalize lender names across mergers and rebrands, so one name can blend several unrelated institutions. Flagged names are never ranked on this page; each exclusion is disclosed under the table.
The exact calculations and limits: methodology.
Best SBA lenders in Connecticut: frequently asked questions
Who is the most active SBA lender in Connecticut?
Manufacturers and Traders Trust Company is the most active SBA lender in Connecticut in the public record, with 1,884 7(a) and 504 loans funded since FY2010 ($287.5M in Connecticut). The ranking counts loans funded, never who pays us.
Do these lenders only serve Connecticut?
No. The ranking measures activity in Connecticut: loans funded to Connecticut businesses in the SBA's record. Many of these lenders are national or multi-state institutions; the loans, dollars, and charge-off figures shown are their Connecticut lending only.
What's the difference between a 7(a) lender and a CDC?
A 7(a) lender is a bank or credit union that funds an SBA-guaranteed loan directly. A Certified Development Company (CDC) is a nonprofit that funds the SBA-backed portion of a 504 project alongside a bank. Charge-off is reported only on 7(a) loans, so a 504-only CDC shows "not reported," never 0%.
How many SBA lenders are active in Connecticut?
81 lenders have funded at least 10 SBA loans in Connecticut since FY2010 in the public record (as of 2026-03-31). The table above names the 25 most active of them; names that blend several same-named institutions are excluded from rankings.
Mario Bailey. (2026). Best SBA lenders in Connecticut. SBA Loan Index. https://sbaloanindex.com/best-sba-lenders/in/ct/
Free to cite and quote with attribution and a link. Members of the press can reach us via our press page.
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