SBA loan data
SBA loans in Massachusetts: FY2020–FY2025 data
Massachusetts ranked #14 of 50 states and DC by number of SBA 7(a) and 504 loans approved in FY2020–FY2025. Below: volume by year, loan sizes, industries, and the lenders and CDCs that made the most loans, all from SBA's public loan-level data.
Data as of (SBA 7(a) & 504 FOIA release). Headline figures cover fiscal years 2020 through 2025 (October 1, 2019 to September 30, 2025). Methodology and sources.
Headline numbers, FY2020–FY2025
9,065 SBA 7(a) and 504 loans totaling $3.27 billion were approved in Massachusetts in FY2020–FY2025 (7,650 7(a) and 1,415 504), excluding loans later cancelled.
- 9,065SBA loans approved (7(a) + 504)
- $3.27 billionTotal approved amount
- $100,000Median 7(a) loan (7,650 loans)
- $428,000Median 504 amount (1,415 loans)
- 80,465Jobs supported, as reported on the loans
- 5.8%Loans to franchise businesses
What this means for a borrower
- Half of the 7(a) loans approved in Massachusetts were between $50,000 and $289,500, and the median was $100,000, 50% below the national median of $198,300. A request well above $289,500 would be larger than three in four 7(a) loans recorded here.
- 57.0% of 7(a) loans here were under $150,000 (national: 40.6%).
- 504 loans were 15.6% of the loans counted here (national: 11.7%), with a median 504 amount of $428,000.
- 220 lenders (counted by name as recorded in the data) approved at least one 7(a) loan here. The 10 most active by count made 57.5% of 7(a) loans, so 7(a) lending here is moderately concentrated.
- 7(a) approvals went from 993 in FY2020 to 1,718 in FY2025, up 73%.
- The sector with the most loans was Construction (16.4% of loans), followed by Accommodation and Food Services (12.1%).
These are counts of approved loans. The data does not show applications that were declined or withdrawn, so it says nothing about approval odds, and past volume is not a forecast for any individual request.
Loans by fiscal year
| Fiscal year | 7(a) loans | 7(a) amount | 504 loans | 504 amount |
|---|---|---|---|---|
| FY2020 | 993 | $227.7 million | 224 | $122.6 million |
| FY2021 | 951 | $416.8 million | 283 | $159.5 million |
| FY2022 | 998 | $290.5 million | 292 | $209.3 million |
| FY2023 | 1,268 | $371.9 million | 180 | $154.3 million |
| FY2024 | 1,722 | $463.9 million | 203 | $169.3 million |
| FY2025 | 1,718 | $507.9 million | 233 | $180.8 million |
| FY2026 (to 06/30, partial) | 956 | $325.2 million | 140 | $119.0 million |
FY2026 covers only part of the year and is not included in any other figure on this page. Recent years can still change as loans are cancelled after approval.
Loan sizes
| Measure | 7(a) | 504 |
|---|---|---|
| Loans | 7,650 | 1,415 |
| 25th percentile | $50,000 | $251,000 |
| Median | $100,000 | $428,000 |
| 75th percentile | $289,500 | $821,500 |
| Average | $297,855 | $703,816 |
| Loan amount | 7(a) loans | 7(a) share | 504 loans | 504 share |
|---|---|---|---|---|
| Under $150,000 | 4,361 | 57.0% | 136 | 9.6% |
| $150,000 to $349,999 | 1,638 | 21.4% | 431 | 30.5% |
| $350,000 to $999,999 | 1,137 | 14.9% | 577 | 40.8% |
| $1 million to $1,999,999 | 322 | 4.2% | 180 | 12.7% |
| $2 million to $4,999,999 | 170 | 2.2% | 83 | 5.9% |
| $5 million or more | 22 | 0.3% | fewer than 10 | fewer than 10 |
504 amounts are the CDC portion recorded in SBA's data (the "GrossApproval" field); the separate first-lien lender loan in a 504 project is not included, so 504 and 7(a) amounts are not directly comparable.
Industries
| Sector | Loans | Share | Amount |
|---|---|---|---|
| Construction (23) | 1,485 | 16.4% | $370.0 million |
| Accommodation and Food Services (72) | 1,099 | 12.1% | $490.2 million |
| Professional, Scientific, and Technical Services (54) | 995 | 11.0% | $293.3 million |
| Retail Trade (44-45) | 994 | 11.0% | $325.9 million |
| Other Services (except Public Administration) (81) | 938 | 10.3% | $292.3 million |
| Health Care and Social Assistance (62) | 807 | 8.9% | $358.4 million |
| Administrative and Support and Waste Management and Remediation Services (56) | 709 | 7.8% | $174.0 million |
| Manufacturing (31-33) | 542 | 6.0% | $290.6 million |
| Transportation and Warehousing (48-49) | 327 | 3.6% | $97.1 million |
| Wholesale Trade (42) | 293 | 3.2% | $166.0 million |
| Industry | Loans | Share |
|---|---|---|
| Full-Service Restaurants (722511) | 515 | 5.7% |
| Landscaping Services (561730) | 324 | 3.6% |
| Limited-Service Restaurants (722513) | 295 | 3.3% |
| Residential Remodelers (236118) | 208 | 2.3% |
| Plumbing, Heating, and Air-Conditioning Contractors (238220) | 201 | 2.2% |
| Beauty Salons (812112) | 179 | 2.0% |
| General Automotive Repair (811111) | 174 | 1.9% |
| Electrical Contractors and Other Wiring Installation Contractors (238210) | 165 | 1.8% |
| Child Care Services (624410) | 163 | 1.8% |
| All Other Specialty Trade Contractors (238990) | 162 | 1.8% |
Shares are of all 7(a) and 504 loans for Massachusetts in FY2020–FY2025. Only industries with at least 10 loans are listed.
Most active lenders and CDCs
Ranked by number of loans approved for Massachusetts in FY2020–FY2025, then by amount. Names are shown exactly as recorded in SBA's data; the same institution can appear under more than one name, and we do not merge them. Lenders or CDCs with fewer than 10 loans here are not listed. This is a count of past activity, not a ranking of quality or a recommendation.
| # | Lender (as recorded) | Loans | Amount |
|---|---|---|---|
| 1 | Eastern Bank | 1,691 | $236.1 million |
| 2 | TD Bank, National Association | 814 | $113.2 million |
| 3 | Rockland Trust Company | 391 | $138.6 million |
| 4 | Manufacturers and Traders Trust Company | 260 | $38.3 million |
| 5 | Webster Bank National Association | 254 | $106.7 million |
| 6 | Salem Five Cents Savings Bank | 227 | $53.8 million |
| 7 | St. Mary's CU | 212 | $15.5 million |
| 8 | Beacon Bank and Trust | 211 | $104.1 million |
| 9 | The Huntington National Bank | 172 | $66.8 million |
| 10 | Needham Bank | 163 | $30.4 million |
| # | CDC (as recorded) | Loans | Amount |
|---|---|---|---|
| 1 | Bay Colony Development Corporation | 491 | $304.5 million |
| 2 | Granite State Economic Development Corporation | 444 | $303.6 million |
| 3 | New England Certified Development Corporation | 244 | $203.6 million |
| 4 | South Eastern Economic Development Corporation | 83 | $60.4 million |
| 5 | Cape & Islands Community Development, Inc. | 79 | $57.4 million |
| 6 | Worcester Business Development Corporation | 58 | $38.4 million |
| 7 | Ocean State Business Development Authority | 13 | $23.7 million |
220 lender names appear on at least one 7(a) loan for Massachusetts, and 10 CDC names on at least one 504 loan.
7(a) loans by processing method
| Processing method (as recorded) | Loans | Share of 7(a) |
|---|---|---|
| SBA Express Program | 4,692 | 61.3% |
| Preferred Lenders Program | 2,606 | 34.1% |
| 7a General | 263 | 3.4% |
| Community Advantage Initiative | 30 | 0.4% |
| Working Capital CAPLine | 18 | 0.2% |
| Export Express | 15 | 0.2% |
Compare
See national SBA loan data and every state, or the Pennsylvania county breakdown. Industry pages show the same tables for the 25 industries with the most SBA loans nationally.
Questions this data answers
How many SBA loans were approved in Massachusetts from FY2020 to FY2025?
9,065 SBA 7(a) and 504 loans totaling $3.27 billion: 7,650 7(a) loans and 1,415 504 loans, according to SBA FOIA data as of June 30, 2026. Loans later cancelled are excluded.
What is the median SBA 7(a) loan size in Massachusetts?
$100,000 for loans approved in FY2020–FY2025. Half of the 7(a) loans were between $50,000 and $289,500; the average was $297,855, pulled up by a smaller number of large loans.
What is the typical SBA 504 loan amount in Massachusetts?
The median 504 amount was $428,000 across 1,415 loans. This is the CDC portion recorded in SBA's data; the separate first-lien lender loan in a 504 project is not included.
Which industries received the most SBA loans in Massachusetts?
By loan count: Construction (16.4%), Accommodation and Food Services (12.1%), Professional, Scientific, and Technical Services (11.0%), based on the NAICS code recorded for each loan.
Related guides
Have a specific deal in mind?
The numbers above describe loans that were approved. They do not say what any lender would do with your request. Tell us what you are trying to finance and we will help you see how it lines up. No documents needed to start, and we do not pull your credit.
Figures are compiled by Precise SBA from the U.S. Small Business Administration's public 7(a) and 504 FOIA loan-level data and are shown as recorded, including lender names. They describe past approvals only: they are not rates, approval odds, a ranking or an endorsement of any lender, and not a prediction for any loan. Precise SBA is not a lender and is not affiliated with the U.S. Small Business Administration. We never charge you. If a loan closes, the lender may pay us a referral fee, disclosed on SBA Form 159 (how we get paid).