SBA Lenders Actively Funding Businesses in Rhode Island

Since 2020, 130 different SBA lenders have approved2,501 loans for businesses in Rhode Island. The table below ranks the most active by loans actually made in the state, not by advertising budget. A lender headquartered elsewhere that funds heavily in Rhode Islandbeats a local name that rarely writes SBA loans.

Most active SBA lenders in Rhode Island

Lender	RI loans since 2020	Median loan	Median rate
Bay Colony Development Corporation	159	$343K	n/a
BankNewport	146	$60K	11.75%
New England Certified Development Corporation	141	$418K	n/a
Eastern Bank	125	$65K	8.74%
TD Bank, National Association	118	$50K	10.55%
Beacon Bank and Trust	117	$645K	8.25%
Webster Bank National Association	92	$200K	8.11%
Bristol County Savings Bank	68	$100K	7.95%
Citizens Bank, National Association	42	$350K	8%
Community Investment Corporation	42	$347K	n/a
The Huntington National Bank	30	$95K	9.5%
Santander Bank, National Association	30	$70K	10.75%
BayFirst National Bank	25	$150K	12.25%
Readycap Lending, LLC	21	$150K	11.25%
Live Oak Banking Company	21	$785K	8.35%
Newtek Bank, National Association	17	$200K	11.25%
Bank of America, National Association	17	$332K	6.5%
Shoreham Bank	14	$1.7M	9.25%
Northeast Bank	12	$103K	10.75%
Rockland Trust Company	12	$200K	7.24%
Rockland Trust Company	12	$400K	n/a
JPMorgan Chase Bank, National Association	10	$185K	10.65%
Bank of America, National Association	10	$750K	n/a
Celtic Bank Corporation	9	$150K	10.25%
United Midwest Savings Bank National Association	9	$150K	9.75%

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Sources and limits. Derived from U.S. Small Business Administration 7(a) and 504 FOIA loan-level records. Loan counts reflect projects located in Rhode Island. 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.