Connecticut SBA lending, from federal loan records
SBA Lenders Actively Funding Businesses in Connecticut
Since FY2020, 163 lenders have funded 4,858 SBA loans worth $2.1B for businesses in Connecticut. Borrowers reported 42,206 jobs supported by those loans. Below is who actually writes them, how big they run, and which Connecticut businesses get funded.
Most active SBA lenders in Connecticut
Ranked by loans funded for Connecticut projects since FY2020, not by advertising budget. A lender headquartered elsewhere that funds heavily in Connecticut beats a local name that rarely writes SBA loans.
| Lender | Program | CT loans since FY2020 | Since FY2025 | Median loan | Median rate |
|---|---|---|---|---|---|
| Manufacturers and Traders Trust Company | 7(a) | 877 | 428 | $50K | 10.75% |
| Webster Bank National Association | 7(a) | 599 | 90 | $150K | 7.25% |
| TD Bank, National Association | 7(a) | 445 | 135 | $50K | 10.5% |
| Community Investment Corporation | 504 (CDC) | 289 | 85 | $392K | n/a |
| New England Certified Development Corporation | 504 (CDC) | 264 | 78 | $455K | n/a |
| Liberty Bank | 7(a) | 255 | 81 | $100K | 9% |
| KeyBank National Association | 7(a) | 191 | 34 | $50K | 9.91% |
| Newtek Bank, National Association | 7(a) | 141 | 68 | $250K | 11.5% |
| Live Oak Banking Company | 7(a) | 130 | 57 | $793K | 8.64% |
| The Huntington National Bank | 7(a) | 99 | 30 | $222K | 10% |
| Readycap Lending, LLC | 7(a) | 96 | 37 | $202K | 10.75% |
| BayFirst National Bank | 7(a) | 91 | 22 | $150K | 12.25% |
| Beacon Bank and Trust | 7(a) | 89 | 22 | $500K | 8.25% |
| Celtic Bank Corporation | 7(a) | 68 | 16 | $683K | 9.88% |
| Ives Bank | 7(a) | 66 | 21 | $200K | 9% |
| Northeast Bank | 7(a) | 62 | 37 | $100K | 10.75% |
| Wells Fargo Bank National Association | 7(a) | 54 | 16 | $25K | 9.75% |
| JPMorgan Chase Bank, National Association | 7(a) | 52 | 10 | $200K | 10.48% |
| Newtek Small Business Finance, Inc. | 7(a) | 52 | 0 | $465K | 7.12% |
| Connecticut Community Bank, National Association | 7(a) | 50 | 19 | $375K | 8.38% |
| Thomaston Savings Bank | 7(a) | 47 | 8 | $144K | 4.5% |
| Bank of America, National Association | 7(a) | 47 | 13 | $383K | 6.51% |
| United Midwest Savings Bank National Association | 7(a) | 44 | 10 | $150K | 9.75% |
| Citizens Bank, National Association | 7(a) | 41 | 12 | $250K | 8.15% |
| Newtown Savings Bank | 7(a) | 32 | 10 | $213K | 8.38% |
504 loans are written by Certified Development Companies alongside a bank first mortgage. The 504 file reports no interest rate, so CDC rows show none.
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Start your funding profile →How big Connecticut SBA loans run
Share of Connecticut 7(a) loans by approval size, next to the national split. If your ask sits in a common band, it is the kind of loan lenders here fund every week.
| 7(a) loan size | CT | US |
|---|---|---|
| Under $150K | 50.8% | 40.4% |
| $150K to $500K | 29.9% | 31.9% |
| $500K to $1M | 9.2% | 12.9% |
| $1M and up | 10% | 14.9% |
Who gets funded in Connecticut
Business age on Connecticut 7(a) loans. 7.1% funded a change of ownership, against 11.1% nationally. Buying a business? See the acquisition lender shortlist. Starting one? See startup-friendly lenders.
| Business stage | CT | US |
|---|---|---|
| Established, more than 2 years | 61.1% | 55.2% |
| New, 2 years or less | 18.4% | 16.9% |
| Startup, loan opens the business | 13.4% | 16.8% |
| Change of ownership (buying a business) | 7.1% | 11.1% |
Industries Connecticut SBA lenders fund most
Share of all Connecticut SBA loans by industry, and how that compares with the national mix.
| Industry | CT loans | Share | Compared with US |
|---|---|---|---|
| Construction | 728 | 15% | 1.2x the national share |
| Retail | 656 | 13.5% | in line with national |
| Healthcare | 505 | 10.4% | in line with national |
| Restaurants and hotels | 504 | 10.4% | 0.8x the national share |
| Personal and repair services | 483 | 9.9% | in line with national |
| Professional services | 393 | 8.1% | in line with national |
| Manufacturing | 388 | 8% | 1.2x the national share |
| Business support services | 322 | 6.6% | 1.2x the national share |
The most common specific business types funded in Connecticut: full-service restaurants (221), residential remodelers (139), limited-service restaurants (127), landscaping services (121), plumbing, heating, and air-conditioning contractors (103), beer, wine, and liquor retailers (90).
Where in Connecticut the loans go
| County | SBA loans since FY2020 | Share of state |
|---|---|---|
| Capitol | 1,087 | 22% |
| Western Ct | 826 | 17% |
| South Central Ct | 650 | 13% |
| Naugatuck Vly | 454 | 9% |
| Greater Bridgeport | 372 | 8% |
| Fairfield | 247 | 5% |
| Hartford | 238 | 5% |
| Lower Ct River Vly | 226 | 5% |
7(a) or 504 in Connecticut
12% of Connecticut SBA loans are 504 loans, against 12% nationally. A 504 loan funds owner-occupied real estate or major equipment, with a median of $461K here. A 7(a) loan covers almost anything else, including working capital and buying a business. The busiest 504 lenders in Connecticut:
- New England Certified Development Corporation: 264 504 loans, median $455K
- Community Investment Corporation: 253 504 loans, median $459K
- Bay Colony Development Corporation: 22 504 loans, median $572K
- Housatonic Industrial Development Corporation: 13 504 loans, median $516K
Connecticut SBA lending by year
| Fiscal year | 7(a) loans | 504 loans | Dollars |
|---|---|---|---|
| FY2020 | 381 | 61 | $177M |
| FY2021 | 552 | 72 | $319M |
| FY2022 | 540 | 100 | $272M |
| FY2023 | 654 | 90 | $332M |
| FY2024 | 786 | 71 | $342M |
| FY2025 | 805 | 86 | $400M |
| FY2026 (through June 30, 2026) | 581 | 79 | $262M |
The SBA fiscal year runs October through September.
Free SBA help in Connecticut
Before you apply, these offices help with loan packaging and lender questions at no cost.
- SBA Connecticut District Office. 280 Trumbull St., Second Floor, Hartford, CT 06103. Phone 860-240-4700. A second office is at 915 Lafayette Blvd., Room 307, Bridgeport, CT 06604, phone 203-335-0427.
- Connecticut Small Business Development Center (CTSBDC). No-cost one-on-one advising for every town in the state, run with the SBA, the Connecticut Department of Economic and Community Development and the UConn School of Business. Useful for loan packaging, projections and cash-flow prep before you apply.
- SCORE Connecticut. Free mentoring from volunteer business owners and executives through two chapters, Western Connecticut and Eastern Connecticut.
Contact details verified October 24, 2026.
Common questions
Who is the most active SBA lender in Connecticut?
By funded loans since FY2020, Manufacturers and Traders Trust Company leads Connecticut with 877 loans.
How big is a typical SBA loan in Connecticut?
The median 7(a) loan in Connecticut is $135K, and the middle half runs from $50K to $350K. The median 504 loan is $461K. Nationally the 7(a) median is $200K.
What interest rate do Connecticut SBA borrowers get?
The median starting rate on Connecticut 7(a) loans since FY2020 is 9.75%, against 9.25% nationally. 87% of those loans carry a variable rate, which moves with the prime rate.
Can a startup get an SBA loan in Connecticut?
Yes. 32% of Connecticut 7(a) loans with a reported business age went to startups or businesses two years old or younger, against 34% nationally. Lenders still expect a solid plan, owner equity and usually collateral.
Sources and limits. Derived from U.S. Small Business Administration 7(a) and 504 FOIA loan-level records, FY2020 through June 30, 2026, for projects located in Connecticut. Cancelled approvals are excluded. Jobs supported are as reported by borrowers. Figures describe past lending activity only and are not offers, quotes, or qualification decisions. Big Brain Funding is not a lender and is not affiliated with any lender listed.