Maine SBA lending, from federal loan records
SBA Lenders Actively Funding Businesses in Maine
Since FY2020, 98 lenders have funded 2,222 SBA loans worth $752M for businesses in Maine. Borrowers reported 18,075 jobs supported by those loans. Below is who actually writes them, how big they run, and which Maine businesses get funded.
Most active SBA lenders in Maine
Ranked by loans funded for Maine projects since FY2020, not by advertising budget. A lender headquartered elsewhere that funds heavily in Maine beats a local name that rarely writes SBA loans.
| Lender | Program | ME loans since FY2020 | Since FY2025 | Median loan | Median rate |
|---|---|---|---|---|---|
| Granite State Economic Development Corporation | 504 (CDC) | 354 | 63 | $390K | n/a |
| TD Bank, National Association | 7(a) | 320 | 102 | $37K | 10.65% |
| Bangor Savings Bank | 7(a) | 288 | 60 | $116K | 7.25% |
| Maine Community Bank | 7(a) | 226 | 59 | $121K | 7.14% |
| KeyBank National Association | 7(a) | 85 | 15 | $50K | 7.74% |
| Manufacturers and Traders Trust Company | 7(a) | 84 | 51 | $44K | 10.5% |
| Machias Savings Bank | 7(a) | 66 | 21 | $228K | 7.69% |
| Kennebunk Savings Bank | 7(a) | 66 | 9 | $140K | 5% |
| Katahdin Trust Company | 7(a) | 66 | 15 | $135K | 7.38% |
| Androscoggin Savings Bank | 7(a) | 61 | 23 | $100K | 7.5% |
| Norway Savings Bank | 7(a) | 59 | 16 | $95K | 7.75% |
| Franklin Savings Bank | 7(a) | 49 | 6 | $115K | 4.99% |
| Bar Harbor Bank & Trust | 7(a) | 36 | 10 | $59K | 8.66% |
| Bath Savings Institution | 7(a) | 31 | 6 | $105K | 5.5% |
| Camden National Bank | 7(a) | 30 | 2 | $170K | 4.37% |
| Atlantic Regional Federal Credit Union | 7(a) | 29 | 19 | $55K | 8.25% |
| Live Oak Banking Company | 7(a) | 29 | 9 | $1.0M | 6.5% |
| Southern Maine Finance Agency | 504 (CDC) | 28 | 19 | $354K | n/a |
| Northeast Bank | 7(a) | 26 | 16 | $68K | 10.75% |
| BayFirst National Bank | 7(a) | 24 | 5 | $150K | 12.12% |
| Empeople Credit Union | 7(a) | 20 | 0 | $94K | 6.25% |
| Seaboard FCU | 7(a) | 17 | 4 | $53K | 9% |
| Readycap Lending, LLC | 7(a) | 16 | 5 | $150K | 11.25% |
| New England Certified Development Corporation | 504 (CDC) | 16 | 0 | $221K | n/a |
| Partners Bank of New England | 7(a) | 11 | 0 | $150K | 4.25% |
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 Maine SBA loans run
Share of Maine 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 | ME | US |
|---|---|---|
| Under $150K | 58.9% | 40.4% |
| $150K to $500K | 28.4% | 31.9% |
| $500K to $1M | 7.1% | 12.9% |
| $1M and up | 5.6% | 14.9% |
Who gets funded in Maine
Business age on Maine 7(a) loans. 9.4% 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 | ME | US |
|---|---|---|
| Established, more than 2 years | 47.9% | 55.2% |
| New, 2 years or less | 22.7% | 16.9% |
| Startup, loan opens the business | 20% | 16.8% |
| Change of ownership (buying a business) | 9.4% | 11.1% |
Industries Maine SBA lenders fund most
Share of all Maine SBA loans by industry, and how that compares with the national mix.
| Industry | ME loans | Share | Compared with US |
|---|---|---|---|
| Restaurants and hotels | 420 | 18.9% | 1.5x the national share |
| Construction | 259 | 11.7% | in line with national |
| Retail | 258 | 11.6% | in line with national |
| Healthcare | 197 | 8.9% | in line with national |
| Personal and repair services | 190 | 8.6% | in line with national |
| Manufacturing | 172 | 7.7% | 1.1x the national share |
| Professional services | 144 | 6.5% | 0.7x the national share |
| Business support services | 130 | 5.9% | in line with national |
The most common specific business types funded in Maine: full-service restaurants (141), limited-service restaurants (78), landscaping services (58), snack and nonalcoholic beverage bars (48), fitness and recreational sports centers (43), hotels (except casino hotels) and motels (41).
Where in Maine the loans go
| County | SBA loans since FY2020 | Share of state |
|---|---|---|
| Cumberland | 724 | 33% |
| York | 480 | 22% |
| Penobscot | 192 | 9% |
| Androscoggin | 143 | 6% |
| Hancock | 104 | 5% |
| Oxford | 85 | 4% |
| Aroostook | 84 | 4% |
| Kennebec | 78 | 4% |
7(a) or 504 in Maine
18% of Maine SBA loans are 504 loans, against 12% nationally. A 504 loan funds owner-occupied real estate or major equipment, with a median of $372K here. A 7(a) loan covers almost anything else, including working capital and buying a business. The busiest 504 lenders in Maine:
- Granite State Economic Development Corporation: 354 504 loans, median $390K
- Southern Maine Finance Agency: 28 504 loans, median $354K
- New England Certified Development Corporation: 16 504 loans, median $221K
Maine SBA lending by year
| Fiscal year | 7(a) loans | 504 loans | Dollars |
|---|---|---|---|
| FY2020 | 185 | 60 | $63M |
| FY2021 | 243 | 87 | $136M |
| FY2022 | 235 | 73 | $114M |
| FY2023 | 308 | 54 | $101M |
| FY2024 | 333 | 43 | $110M |
| FY2025 | 339 | 51 | $132M |
| FY2026 (through June 30, 2026) | 180 | 31 | $96M |
The SBA fiscal year runs October through September.
Common questions
Who is the most active SBA lender in Maine?
By funded loans since FY2020, Granite State Economic Development Corporation leads Maine with 354 loans through the 504 program. The most active 7(a) lender is TD Bank, National Association, with 320.
How big is a typical SBA loan in Maine?
The median 7(a) loan in Maine is $100K, and the middle half runs from $42K to $250K. The median 504 loan is $372K. Nationally the 7(a) median is $200K.
What interest rate do Maine SBA borrowers get?
The median starting rate on Maine 7(a) loans since FY2020 is 8%, against 9.25% nationally. 56% of those loans carry a variable rate, which moves with the prime rate.
Can a startup get an SBA loan in Maine?
Yes. 43% of Maine 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 Maine. 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.