Last annual update:
Maine-based banks were among the largest lenders to “The Pine Tree State” businesses through the U.S. Small Business Administration’s 7(a) program. Whether your business is a restaurant, auto repair, medical practice, funeral home, veterinary or hotel, your mission is to exceed your customer expectations. So, if you’re ready to step up your business to the next level, here are the top SBA Lenders in Maine:
Most active SBA lenders in Maine
| State Rank | Bank | Bank Headquarters | # of Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|---|
| 1 | TD Bank | Wilmington, DE | 54 | $33,461 | 10.6% |
| 2 | Bangor Savings Bank | Bangor, ME | 43 | $99,209 | 6.1% |
| 3 | Camden National Bank | Camden, ME | 18 | $153,611 | 5.1% |
| 4 | Infinity FCU | Westbrook, ME | 17 | $53,588 | 8.3% |
| 5 | Norway Savings Bank | Norway, ME | 7 | $280,114 | 5.6% |
| 6 | Kennebunk Savings Bank | Kennebunk, ME | 7 | $231,000 | 5.6% |
| 7 | Bath Savings Institution | Bath, ME | 7 | $146,549 | 6.2% |
| 8 | KeyBank | Cleveland, OH | 6 | $582,500 | 7.3% |
| 9 | Live Oak | Wilmington, NC | 5 | $951,000 | 7.0% |
| 10 | Stearns Bank | Saint Cloud, MN | 4 | $382,250 | 7.9% |
| 11 | Gorham Savings Bank | Gorham, ME | 4 | $276,250 | 5.3% |
| 12 | Seaboard FCU | Bucksport, ME | 4 | $67,500 | 6.8% |
| 13 | People's United Bank | Bridgeport, CT | 4 | $36,875 | 9.3% |
| 14 | First Home Bank | Saint Petersburg, FL | 3 | $150,000 | 8.0% |
| 15 | Northway Bank | Berlin, NH | 3 | $31,667 | 6.8% |
Top Maine PPP lenders (loans <$150,000)
| Rank | Bank | # PPP Loans |
|---|---|---|
| 1 | Bangor Savings Bank | 3,733 |
| 2 | Camden National Bank | 2,642 |
| 3 | Machias Savings Bank | 1,964 |
| 4 | First National Bank | 1,569 |
| 5 | TD Bank | 1,550 |
| 6 | Norway Savings Bank | 1,204 |
| 7 | Bar Harbor Bank & Trust | 939 |
| 8 | Kennebunk Savings Bank | 937 |
| 9 | Gorham Savings Bank | 872 |
| 10 | KeyBank National Association | 872 |
Top Maine PPP lenders (loans >$150,000)
| Rank | Bank | # PPP Loans |
|---|---|---|
| 1 | Bangor Savings Bank | 426 |
| 2 | Camden National Bank | 273 |
| 3 | TD Bank | 240 |
| 4 | Machias Savings Bank | 201 |
| 5 | KeyBank National Association | 195 |
| 6 | Norway Savings Bank | 162 |
| 7 | Gorham Savings Bank | 159 |
| 8 | First National Bank | 118 |
| 9 | People's United Bank | 104 |
| 10 | Androscoggin Savings Bank | 103 |
Note: Maine PPP loan activity data from the CARES Act from March – August and does not include Heals/Heroes Act PPP loans.