SBA lending by state
SBA Lending in Rhode Island
In Rhode Island, SBA lenders funded 5,554 7(a) and 504 loans since FY2010, totaling $1.6B, an average of $287K per loan. The most active lender is Beacon Bank and Trust, 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 Rhode Island
Ranked by SBA loans funded in Rhode Island since FY2010. Each lender's figures, including its 7(a) charge-off rate, cover its Rhode Island loans only. Charge-off is reported on 7(a) loans, never on 504 loans, so a lender without a reliable 7(a) sample in Rhode Island shows “not reported,” never 0%.
See the full Rhode Island 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 | Beacon Bank and Trust | 820 | $133.6M | $163K | 1.83% |
| 2 | Eastern Bank | 665 | $125.1M | $188K | 3.01% |
| 3 | Citizens Bank, National Association | 407 | $88.6M | $218K | 1.23% |
| 4 | Ocean State Business Development Authority | 363 | $195.9M | $540K | not reported |
| 5 | BankNewport | 319 | $32.8M | $103K | 0.31% |
| 6 | Bristol County Savings Bank | 279 | $68.5M | $246K | 1.79% |
| 7 | Webster Bank National Association | 249 | $92.1M | $370K | 2.01% |
| 8 | Navigant CU | 210 | $38.2M | $182K | 2.86% |
| 9 | TD Bank, National Association | 209 | $34.7M | $166K | 10.53% |
| 10 | Bay Colony Development Corporation | 197 | $112.8M | $573K | not reported |
Excludes 1 lender whose records blend same-named institutions; see our methodology.
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 Rhode Island
An SBA 504 project in Rhode Island 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 Rhode Island, 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 |
|---|---|---|
| Ocean State Business Development Authority | 363 | $195.9M |
| Bay Colony Development Corporation | 197 | $112.8M |
| New England Certified Development Corporation | 181 | $82.5M |
| South Eastern Economic Development Corporation | 64 | $33.4M |
| Community Investment Corporation | 48 | $17.3M |
All Certified Development Companies · Current 504 loan rates · How 504 loans work
Top industries funded in Rhode Island
| Industry | Loans | Total volume |
|---|---|---|
| Accommodation and Food Services | 762 | $282.2M |
| Manufacturing | 516 | $227.6M |
| Retail Trade | 755 | $206.1M |
| Construction | 654 | $136.3M |
| Health Care and Social Assistance | 512 | $132.7M |
| Wholesale Trade | 264 | $119.4M |
| Professional and Technical Services | 539 | $116.6M |
| Other Services | 544 | $110.6M |
Top cities for SBA loans in Rhode Island
Where SBA 7(a) and 504 borrowers in Rhode Island are located, by funded volume.
| City | Loans | Total volume |
|---|---|---|
| Providence | 781 | $201.0M |
| Warwick | 580 | $160.9M |
| Cranston | 464 | $115.8M |
| East Providence | 170 | $66.6M |
| Pawtucket | 249 | $61.0M |
| North Kingstown | 175 | $59.1M |
| Newport | 186 | $58.4M |
| Middletown | 120 | $50.3M |
SBA lending by metro area in Rhode Island
Which lenders fund each Rhode Island market, with local loan sizes and industries.
- SBA lenders in Providence, RI 7,808 loans
SBA lending in Rhode Island by year
Funded SBA volume by approval fiscal year (FY2010–2026).
| Fiscal year | Loans | Total volume |
|---|---|---|
| 2010 | 431 | $97.5M |
| 2011 | 443 | $126.5M |
| 2012 | 340 | $87.2M |
| 2013 | 310 | $69.9M |
| 2014 | 427 | $86.4M |
| 2015 | 356 | $88.5M |
| 2016 | 450 | $94.5M |
| 2017 | 404 | $91.2M |
| 2018 | 400 | $83.4M |
| 2019 | 283 | $91.0M |
| 2020 | 215 | $83.5M |
| 2021 | 251 | $134.7M |
| 2022 | 236 | $102.1M |
| 2023 | 245 | $100.0M |
| 2024 | 295 | $93.5M |
| 2025 | 378 | $139.7M |
| 2026 | 90 | $26.8M |
SBA lending in Rhode Island: frequently asked questions
How much SBA lending is there in Rhode Island?
SBA lenders funded 5,554 7(a) and 504 loans totaling $1.6B in Rhode Island in the public SBA data (as of 2026-03-31), an average of $287K per loan.
Who is the most active SBA lender in Rhode Island?
Beacon Bank and Trust is the most active SBA lender in Rhode Island in the public data, by loans funded.
What industries get the most SBA loans in Rhode Island?
The most-funded industry for SBA loans in Rhode Island is Accommodation and Food Services.
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