apply for a Rhode Island SBA Loan
Last annual update:
Note: On March 31 the Treasury and SBA released important information regarding CARES Act SBA 7(a) loans. We encourage you to read our blog post and act quickly.
Rhode Island-based banks were among the largest lenders to “The Ocean State” businesses through the U.S. Small Business Administration’s 7(a) program. Whether your business is a hotel, restaurant, auto repair, medical practice, veterinary or pharmacy, 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 Rhode Island:
| State Rank | Bank | Headquarters | # Loans | Avg Loan | Avg Int |
|---|---|---|---|---|---|
| 1 | Navigant CU | Smithfield, RI | 22 | $103,523 | 8.0% |
| 2 | Webster Bank | Waterbury, CT | 18 | $383,378 | 8.0% |
| 3 | Bank Rhode Island | Providence, RI | 17 | $75,141 | 7.6% |
| 4 | HarborOne Bank | Brockton, MA | 16 | $149,238 | 6.4% |
| 5 | Freedom National Bank | Greenville, RI | 16 | $110,425 | 5.8% |
| 6 | Greenwood CU | Warwick, RI | 10 | $249,000 | 6.1% |
| 7 | TD Bank | Wilmington, DE | 10 | $39,880 | 10.3% |
| 8 | Citizens Bank | Providence, RI | 9 | $358,111 | 7.4% |
| 9 | Independence Bank | East Greenwich, RI | 9 | $136,111 | 7.0% |
| 10 | Bristol County Savings Bank | Taunton, MA | 8 | $168,000 | 5.7% |
| 11 | Santander Bank | Wilmington, DE | 8 | $37,438 | 11.0% |
| 12 | Newtek Small Business Finance | Lake Success, NY | 6 | $1,517,167 | 8.2% |
apply for a Rhode Island SBA Loan