Top Massachusetts SBA Lenders | SBA Loans in MA

Last annual update: May 8, 2023


  Find me a lender

Massachusetts-based banks were among the largest lenders to “The Bay 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 Massachusetts:

Top SBA lenders in Massachusetts

MA RankMassachusetts BankBank HQs# of LoansAvg InterestAvg MA Loan
1Eastern BankBoston, MA1767.7%$146,190
2TD BankWilmington, DE638.8%$114,275
3Webster BankWaterbury, CT406.6%$317,460
4Needham BankNeedham, MA376.3%$104,776
5St. Mary's CUMarlborough, MA315.1%$67,184
6Santander BankWilmington, DE218.1%$61,814
7Cape Cod Five Cents Savings BankHyannis, MA174.9%$126,976
8Northern Bank and Trust CompanyWoburn, MA166.4%$497,181
9Bank of AmericaCharlotte, NC153.5%$415,840
10Brookline BankBrookline, MA147.1%$190,929
11Salem Five Cents Savings BankSalem, MA146.0%$476,171
12BayFirst National BankSaint Petersburg, FL138.6%$144,308
13Bristol County Savings BankTaunton, MA136.9%$76,169
14Webster Five Cents Savings BankWebster, MA134.3%$191,969
15Newtek Small Business FinanceLake Success, NY127.3%$1,051,375


SBA loans – Massachusetts

A note about these Massachusetts SBA lenders – People frequently ask us if one of the banks above is 1) on the Massachusetts preferred lender list 2) an approved lender in Massachusetts, or 3) participating in the Massachusetts SBA Express lending program. All these questions revolve around whether a given SBA bank makes small business SBA loans in Massachusetts and can they process SBA loans quickly. The answer is yes, of course. These are not the small banks that only make a few SBA loans a year and do not understand the SBA 7(a) loan program. These are the banks that have made the most SBA loans in Massachusetts and in Boston.

We analyze thousands of SBA loans each year and rank lenders based on recent activity. We would be remiss if we did not mention that although many banks will only lend in certain geographies, there are a handful of extremely aggressive nationwide SBA lenders who will lend anywhere. These lenders understand the SBA program as well as anyone and move very quickly, so we recommend not limiting your search to your home state. If you utilize our lender match tool, we can find you suitable SBA banks based on your geography, industry, and company and size at no cost or obligation to you to save you valuable time.


  Find me a lender