1,315 SBA loans worth $488.9M went to Rhode Island businesses between October 2021 and June 2026, from 96 lenders. BankNewport made the most 7(a) loans, 153 or 14% of the state's total, and the ten most active lenders made 65%. The median 7(a) loan was $100,000, below the national median of $158,000. Restaurants and hotels was the most financed industry, at 15% of loans. Annual loan count rose 53% from fiscal 2023 to fiscal 2025.
| # | Lender | Loans | Approved | Median loan | To startups | Most common borrower |
|---|---|---|---|---|---|---|
| 1 | BankNewport Bank · Middletown, RI | 153 | $10.5M | $60,000 | 16% | Construction |
| 2 | TD Bank Bank · Wilmington, DE | 129 | $9.7M | $25,000 | 50% | Construction |
| 3 | Beacon Bank and Trust Bank · Boston, MA | 89 | $28.5M | $100,000 | 18% | Professional and technical services |
| 4 | Eastern Bank Bank · Boston, MA | 77 | $21.3M | $150,000 | 14% | Retail |
| 5 | Webster Bank Bank · Stamford, CT | 68 | $27.4M | $139,350 | 32% | Restaurants and hotels |
| 6 | Bristol County Savings Bank Bank · Taunton, MA | 45 | $14.5M | $100,000 | 20% | Construction |
| 7 | Northeast Bank Bank · Portland, ME | 36 | $5.4M | $100,000 | 6% | Restaurants and hotels |
| 8 | Navigant CU Credit union · Smithfield, RI | 35 | $9.2M | $168,000 | 29% | Restaurants and hotels |
| 9 | Huntington National Bank Bank · Columbus, OH | 33 | $12.0M | $247,000 | 64% | Construction |
| 10 | Citizens Bank Bank · Providence, RI | 32 | $25.1M | $385,000 | 44% | Restaurants and hotels |
| 11 | Santander Bank Bank · Wilmington, DE | 28 | $1.7M | $50,000 | 4% | Construction |
| 12 | Newtek Bank Bank · Miami, FL | 25 | $11.2M | $250,000 | 12% | Restaurants and hotels |
| 13 | Community Investment Non-bank lender · Hamden, CT | 24 | $3.8M | $149,500 | 62% | Restaurants and hotels |
| 14 | BayFirst National Bank Bank · St. Petersburg, FL | 24 | $3.3M | $150,000 | 4% | Professional and technical services |
| 15 | Readycap Lending Non-bank lender · Berkeley Heights, NJ | 23 | $12.4M | $130,000 | 13% | Restaurants and hotels |
| 16 | Bank of America Bank · Charlotte, NC | 22 | $9.5M | $332,500 | 9% | Health care and social assistance |
| 17 | Baycoast Bank Bank · Swansea, MA | 22 | $3.5M | $100,000 | 50% | Construction |
| 18 | Live Oak Banking Bank · Wilmington, NC | 18 | $20.7M | $565,000 | 22% | Health care and social assistance |
| 19 | Shoreham Bank Bank · Warwick, RI | 13 | $7.2M | $400,000 | 46% | Restaurants and hotels |
| 20 | Rockland Trust Bank · Rockland, MA | 12 | $5.8M | $233,500 | 50% | Retail |
| 21 | JPMorgan Chase Bank Bank · Columbus, OH | 10 | $1.7M | $100,000 | 10% | Retail |
| 22 | Celtic Bank Bank · Salt Lake City, UT | 8 | $2.5M | $150,000 | 0% | Wholesale trade |
| 23 | Washington Trust Company of Westerly Bank · Westerly, RI | 8 | $1.7M | $142,500 | 0% | Construction |
| 24 | South Eastern Economic Development Non-bank lender · Taunton, MA | 8 | $892K | $101,250 | 62% | Restaurants and hotels |
| 25 | First Bank of the Lake Bank · Osage Beach, MO | 6 | $8.1M | $584,500 | 67% | Professional and technical services |
| # | Certified development company | Loans | SBA portion approved | Median |
|---|---|---|---|---|
| 1 | Ocean State Business Development Authority Warwick, RI | 110 | $67.1M | $426,000 |
| 2 | New England Certified Development Wakefield, MA | 51 | $27.1M | $314,000 |
| 3 | Bay Colony Development Waltham, MA | 47 | $26.8M | $386,000 |
| 4 | Community Investment Hamden, CT | 21 | $6.1M | $228,000 |
| 5 | South Eastern Economic Development Taunton, MA | 9 | $4.3M | $434,000 |
| Industry | Loans | Share | Median loan | Most active lender |
|---|---|---|---|---|
| Restaurants and hotels | 201 | $200,000 | BankNewport | |
| Construction | 184 | $100,000 | BankNewport | |
| Retail | 178 | $180,000 | Eastern Bank | |
| Other services (repair, personal care) | 129 | $145,000 | TD Bank | |
| Health care and social assistance | 125 | $177,000 | Ocean State Business Development Authority | |
| Professional and technical services | 105 | $100,000 | Beacon Bank and Trust | |
| Manufacturing | 95 | $250,000 | Webster Bank | |
| Administrative and support services | 75 | $100,000 | BankNewport | |
| Wholesale trade | 49 | $250,000 | Beacon Bank and Trust | |
| Transportation and warehousing | 47 | $40,000 | TD Bank | |
| Arts, entertainment and recreation | 40 | $184,000 | Ocean State Business Development Authority | |
| Real estate and rental | 33 | $150,000 | BankNewport |
| City | Loans | Approved | Median loan | Most active lender |
|---|---|---|---|---|
| Providence | 220 | $72.2M | $104,750 | TD Bank |
| Warwick | 127 | $61.1M | $210,000 | Beacon Bank and Trust |
| Cranston | 114 | $38.9M | $150,000 | TD Bank |
| Newport | 60 | $22.3M | $133,000 | BankNewport |
| Johnston | 55 | $14.8M | $100,000 | TD Bank |
| Pawtucket | 50 | $13.7M | $106,000 | TD Bank |
| North Kingstown | 46 | $23.0M | $276,000 | Beacon Bank and Trust |
| East Greenwich | 40 | $14.4M | $252,000 | Ocean State Business Development Authority |
| East Providence | 39 | $14.6M | $168,000 | Ocean State Business Development Authority |
| Bristol | 38 | $8.4M | $97,800 | BankNewport |
| Coventry | 38 | $12.6M | $112,500 | Beacon Bank and Trust |
| Portsmouth | 37 | $9.3M | $100,000 | BankNewport |
| Cumberland | 33 | $11.4M | $146,000 | Bristol County Savings Bank |
| Tiverton | 32 | $6.4M | $100,000 | BankNewport |
| Middletown | 28 | $14.3M | $300,500 | BankNewport |
16 Rhode Island cities and suburbs with at least 25 SBA loans since October 2021. Search any zip code at the top of the page.