SBA lending by state
SBA Lending in Massachusetts
In Massachusetts, SBA lenders funded 33,361 7(a) and 504 loans since FY2010, totaling $8.6B, an average of $259K per loan. The most active lender is Eastern Bank, and the most-funded industry is Accommodation and Food Services.
By Mario Bailey · Source: SBA FOIA data, FY2010–2026 (as of 2026-03-31)
Top SBA lenders in Massachusetts
Ranked by SBA loans funded in Massachusetts since FY2010. Each lender's figures, including its 7(a) charge-off rate, cover its Massachusetts loans only. Charge-off is reported on 7(a) loans, never on 504 loans, so a lender without a reliable 7(a) sample in Massachusetts shows “not reported,” never 0%.
See the full Massachusetts ranking : up to 25 lenders, with the 7(a) vs 504 leaders and industry context.
| # | 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% |
SBA 7(a) and 504 loans, FY2010–2026, as of 2026-03-31, from the SBA's public record.
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504 lenders (CDCs) in Massachusetts
An SBA 504 project in Massachusetts pairs two lenders: a bank or credit union funds roughly half the cost as a first mortgage, and a Certified Development Company (CDC) funds about 40% through an SBA-backed debenture, with the borrower putting down around 10%. Below are the CDCs most active on 504 loans in Massachusetts, ranked by 504 loans funded in the state since FY2010. Figures are 504-only; charge-off is reported on 7(a) loans only and does not apply to CDCs.
| CDC | 504 loans | 504 volume |
|---|---|---|
| Bay Colony Development Corporation | 1,424 | $858.2M |
| Granite State Economic Development Corporation | 1,414 | $883.8M |
| New England Certified Development Corporation | 769 | $589.4M |
| South Eastern Economic Development Corporation | 323 | $172.5M |
| Cape & Islands Community Development, Inc. | 203 | $117.1M |
| Worcester Business Development Corporation | 127 | $88.2M |
| Ocean State Business Development Authority | 31 | $33.0M |
| SomerCor 504, Inc. | 1 | $1.5M |
| Business Development Corporation (BDC) | 1 | $1.2M |
| Southern Maine Finance Agency | 1 | $675K |
Showing the 10 CDCs most active on 504 loans in Massachusetts; the full directory lists every CDC.
All Certified Development Companies · Current 504 loan rates · How 504 loans work
Top industries funded in Massachusetts
| Industry | Loans | Total volume |
|---|---|---|
| Accommodation and Food Services | 3,778 | $1.3B |
| Retail Trade | 3,816 | $978.0M |
| Health Care and Social Assistance | 2,829 | $918.4M |
| Construction | 4,777 | $852.0M |
| Manufacturing | 2,234 | $796.8M |
| Professional and Technical Services | 4,119 | $788.6M |
| Other Services | 3,431 | $696.7M |
| Arts, Entertainment, Recreation | 962 | $453.4M |
Top cities for SBA loans in Massachusetts
Where SBA 7(a) and 504 borrowers in Massachusetts are located, by funded volume.
| City | Loans | Total volume |
|---|---|---|
| Boston | 1,556 | $473.3M |
| Worcester | 645 | $174.8M |
| Cambridge | 450 | $113.6M |
| Brockton | 410 | $112.4M |
| Woburn | 390 | $110.7M |
| Plymouth | 470 | $103.6M |
| Quincy | 467 | $97.9M |
| Waltham | 303 | $93.3M |
SBA lending by metro area in Massachusetts
Which lenders fund each Massachusetts market, with local loan sizes and industries.
- SBA lenders in Boston, MA 26,095 loans
- SBA lenders in Providence, RI 7,808 loans
- SBA lenders in Worcester, MA 3,396 loans
- SBA lenders in Barnstable Town, MA 1,927 loans
- SBA lenders in Springfield, MA 1,426 loans
- SBA lenders in Pittsfield, MA 722 loans
- SBA lenders in Amherst Town, MA 481 loans
- SBA lenders in Greenfield, MA 245 loans
- SBA lenders in Nantucket, MA 131 loans
- SBA lenders in Vineyard Haven, MA 109 loans
SBA lending in Massachusetts by year
Funded SBA volume by approval fiscal year (FY2010–2026).
| Fiscal year | Loans | Total volume |
|---|---|---|
| 2010 | 1,847 | $352.0M |
| 2011 | 1,943 | $424.1M |
| 2012 | 1,844 | $408.6M |
| 2013 | 1,797 | $395.3M |
| 2014 | 2,324 | $423.1M |
| 2015 | 2,587 | $467.4M |
| 2016 | 2,836 | $558.8M |
| 2017 | 2,808 | $488.7M |
| 2018 | 2,397 | $524.2M |
| 2019 | 1,836 | $512.7M |
| 2020 | 1,407 | $447.6M |
| 2021 | 1,441 | $679.9M |
| 2022 | 1,462 | $570.9M |
| 2023 | 1,633 | $612.4M |
| 2024 | 2,140 | $697.3M |
| 2025 | 2,280 | $782.3M |
| 2026 | 779 | $293.0M |
SBA lending in Massachusetts: frequently asked questions
How much SBA lending is there in Massachusetts?
SBA lenders funded 33,361 7(a) and 504 loans totaling $8.6B in Massachusetts in the public SBA data (as of 2026-03-31), an average of $259K per loan.
Who is the most active SBA lender in Massachusetts?
Eastern Bank is the most active SBA lender in Massachusetts in the public data, by loans funded.
What industries get the most SBA loans in Massachusetts?
The most-funded industry for SBA loans in Massachusetts is Accommodation and Food Services.
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