Best SBA lenders
Best SBA lenders in Massachusetts
The most active SBA lenders in Massachusetts, ranked from every 7(a) and 504 loan in the SBA's public record, FY2010-2026. Eastern Bank leads with 8,219 loans funded.
By Mario Bailey · Source: SBA FOIA 7(a) and 504 data, FY2010–2026, as of 2026-03-31
Top SBA lenders in Massachusetts
The full Massachusetts 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 Massachusetts lending only, not its national book. A charge-off rate appears only when a lender has at least 20 funded 7(a) loans in Massachusetts; 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 | Eastern Bank | 8,219 | $738.5M | $90K | 5.57% |
| 2 | TD Bank, National Association | 2,029 | $264.0M | $130K | 5.03% |
| 3 | Rockland Trust Company | 1,724 | $386.3M | $224K | 1.57% |
| 4 | Bay Colony Development Corporation | 1,424 | $858.2M | $603K | not reported |
| 5 | Granite State Economic Development Corporation | 1,414 | $883.8M | $625K | not reported |
| 6 | Beacon Bank and Trust | 1,268 | $233.1M | $184K | 3.31% |
| 7 | Citizens Bank, National Association | 1,256 | $238.9M | $190K | 1.67% |
| 8 | Santander Bank, National Association | 941 | $106.0M | $113K | 3.19% |
| 9 | New England Certified Development Corporation | 769 | $589.4M | $766K | not reported |
| 10 | Manufacturers and Traders Trust Company | 668 | $117.8M | $176K | 2.40% |
| 11 | Leader Bank, National Association | 658 | $123.2M | $187K | 0.91% |
| 12 | Salem Five Cents Savings Bank | 615 | $167.0M | $272K | 1.63% |
| 13 | Webster Bank National Association | 558 | $192.5M | $345K | 3.05% |
| 14 | Cambridge Savings Bank | 507 | $102.8M | $203K | 4.93% |
| 15 | St. Mary's CU | 437 | $27.5M | $63K | 0.46% |
| 16 | UniBank for Savings | 403 | $35.4M | $88K | 1.49% |
| 17 | Northeast Bank | 384 | $64.2M | $167K | 4.69% |
| 18 | South Shore Bank | 353 | $35.0M | $99K | 2.55% |
| 19 | South Eastern Economic Development Corporation | 349 | $175.5M | $503K | 3.85% |
| 20 | Live Oak Banking Company | 336 | $419.3M | $1.2M | 1.49% |
| 21 | Bristol County Savings Bank | 326 | $54.7M | $168K | 0.61% |
| 22 | Needham Bank | 312 | $74.7M | $239K | 0.32% |
| 23 | The Cape Cod Five Cents Savings Bank | 307 | $43.5M | $142K | 2.93% |
| 24 | Middlesex Savings Bank | 242 | $44.7M | $185K | 2.48% |
| 25 | TruNorth Bank | 229 | $58.5M | $255K | 0.87% |
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 Massachusetts
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 Massachusetts by each program's loans funded since FY2010:
- 1. Eastern Bank 8,219 loans
- 2. TD Bank, National Association 2,029 loans
- 3. Rockland Trust Company 1,724 loans
- 4. Beacon Bank and Trust 1,268 loans
- 5. Citizens Bank, National Association 1,256 loans
- 1. Bay Colony Development Corporation 1,424 loans
- 2. Granite State Economic Development Corporation 1,414 loans
- 3. New England Certified Development Corporation 769 loans
- 4. South Eastern Economic Development Corporation 323 loans
- 5. Cape & Islands Community Development, Inc. 203 loans
Counts are each program's funded loans in Massachusetts. How the two programs differ: 504 vs 7(a), by the data.
Where SBA lending concentrates in Massachusetts
The 3 industries with the most SBA loans in Massachusetts 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 |
|---|---|---|---|
| Construction | 4,777 | $852.0M | Eastern Bank (1,340 loans) |
| Professional and Technical Services | 4,119 | $788.6M | Eastern Bank (1,491 loans) |
| Retail Trade | 3,816 | $978.0M | Eastern Bank (712 loans) |
Full industry, city, and yearly breakdowns: SBA lending in Massachusetts.
How this ranking works
- “Most active” means loans funded. The ranking counts every SBA 7(a) and 504 loan funded to Massachusetts 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 Massachusetts 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 Massachusetts; 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 Massachusetts: frequently asked questions
Who is the most active SBA lender in Massachusetts?
Eastern Bank is the most active SBA lender in Massachusetts in the public record, with 8,219 7(a) and 504 loans funded since FY2010 ($738.5M in Massachusetts). The ranking counts loans funded, never who pays us.
Do these lenders only serve Massachusetts?
No. The ranking measures activity in Massachusetts: loans funded to Massachusetts 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 Massachusetts 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 Massachusetts?
150 lenders have funded at least 10 SBA loans in Massachusetts 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 Massachusetts. SBA Loan Index. https://sbaloanindex.com/best-sba-lenders/in/ma/
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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