Vermont SBA lending, from federal loan records
SBA Lenders Actively Funding Businesses in Vermont
Since FY2020, 77 lenders have funded 1,114 SBA loans worth $331M for businesses in Vermont. Borrowers reported 7,915 jobs supported by those loans. Below is who actually writes them, how big they run, and which Vermont businesses get funded.
Most active SBA lenders in Vermont
Ranked by loans funded for Vermont projects since FY2020, not by advertising budget. A lender headquartered elsewhere that funds heavily in Vermont beats a local name that rarely writes SBA loans.
| Lender | Program | VT loans since FY2020 | Since FY2025 | Median loan | Median rate |
|---|---|---|---|---|---|
| Community National Bank | 7(a) | 172 | 35 | $71K | 6.55% |
| TD Bank, National Association | 7(a) | 134 | 65 | $40K | 10.5% |
| Granite State Economic Development Corporation | 504 (CDC) | 118 | 25 | $335K | n/a |
| Manufacturers and Traders Trust Company | 7(a) | 117 | 60 | $45K | 11% |
| Heritage Family FCU | 7(a) | 60 | 12 | $74K | 6.94% |
| EastRise Federal Credit Union | 7(a) | 57 | 7 | $44K | 6.5% |
| Vermont 504 Corporation | 7(a) | 39 | 6 | $140K | 4.26% |
| North Country Federal Credit Union | 7(a) | 36 | 3 | $40K | 7.29% |
| Union Bank | 7(a) | 33 | 1 | $40K | 5.75% |
| KeyBank National Association | 7(a) | 29 | 10 | $151K | 9.24% |
| Bar Harbor Bank & Trust | 7(a) | 28 | 4 | $66K | 6.42% |
| Peoples Trust Company of St. Albans | 7(a) | 26 | 3 | $50K | 6.41% |
| Vermont FCU | 7(a) | 24 | 1 | $67K | 7.83% |
| Live Oak Banking Company | 7(a) | 20 | 7 | $425K | 9.38% |
| The Huntington National Bank | 7(a) | 16 | 8 | $300K | 9% |
| The Bank of Bennington | 7(a) | 14 | 0 | $38K | 4.88% |
| Beacon Bank and Trust | 7(a) | 13 | 7 | $830K | 9.5% |
| National Bank of Middlebury | 7(a) | 12 | 0 | $201K | 5.75% |
| Mascoma Bank | 7(a) | 11 | 1 | $148K | 4.5% |
| BayFirst National Bank | 7(a) | 10 | 6 | $129K | 12.25% |
| Green Mountain CU | 7(a) | 8 | 1 | $61K | 5.5% |
| Northeast Bank | 7(a) | 8 | 3 | $50K | 11.25% |
| Community Bank, National Association | 7(a) | 7 | 3 | $50K | 7.12% |
| Celtic Bank Corporation | 7(a) | 7 | 3 | $150K | 10.25% |
| NBT Bank, National Association | 7(a) | 6 | 1 | $498K | 5.49% |
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.
Smarter Business Funding
Find out what your business could qualify for
Answer six quick questions and get your business funding profile. We match it against real SBA lending records and follow up personally. No credit check, about 60 seconds.
Start your funding profile →How big Vermont SBA loans run
Share of Vermont 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 | VT | US |
|---|---|---|
| Under $150K | 67.5% | 40.4% |
| $150K to $500K | 21.7% | 31.9% |
| $500K to $1M | 4.6% | 12.9% |
| $1M and up | 6.2% | 14.9% |
Who gets funded in Vermont
Business age on Vermont 7(a) loans. 8.1% 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 | VT | US |
|---|---|---|
| Established, more than 2 years | 53.9% | 55.2% |
| New, 2 years or less | 23.1% | 16.9% |
| Startup, loan opens the business | 14.9% | 16.8% |
| Change of ownership (buying a business) | 8.1% | 11.1% |
Industries Vermont SBA lenders fund most
Share of all Vermont SBA loans by industry, and how that compares with the national mix.
| Industry | VT loans | Share | Compared with US |
|---|---|---|---|
| Retail | 166 | 14.9% | 1.2x the national share |
| Manufacturing | 149 | 13.4% | 2.0x the national share |
| Construction | 148 | 13.3% | in line with national |
| Restaurants and hotels | 142 | 12.7% | in line with national |
| Business support services | 79 | 7.1% | 1.3x the national share |
| Personal and repair services | 76 | 6.8% | 0.7x the national share |
| Healthcare | 75 | 6.7% | 0.7x the national share |
| Professional services | 74 | 6.6% | 0.7x the national share |
The most common specific business types funded in Vermont: full-service restaurants (52), landscaping services (51), general freight trucking, local (29), hotels (except casino hotels) and motels (24), residential remodelers (22), new single-family housing construction (except for-sale builders) (22).
Where in Vermont the loans go
| County | SBA loans since FY2020 | Share of state |
|---|---|---|
| Chittenden | 328 | 29% |
| Washington | 141 | 13% |
| Rutland | 97 | 9% |
| Windham | 77 | 7% |
| Franklin | 76 | 7% |
| Windsor | 68 | 6% |
| Lamoille | 62 | 6% |
| Orleans | 56 | 5% |
7(a) or 504 in Vermont
12% of Vermont SBA loans are 504 loans, against 12% nationally. A 504 loan funds owner-occupied real estate or major equipment, with a median of $361K here. A 7(a) loan covers almost anything else, including working capital and buying a business. The busiest 504 lenders in Vermont:
- Granite State Economic Development Corporation: 118 504 loans, median $335K
Vermont SBA lending by year
| Fiscal year | 7(a) loans | 504 loans | Dollars |
|---|---|---|---|
| FY2020 | 155 | 22 | $33M |
| FY2021 | 139 | 35 | $60M |
| FY2022 | 118 | 24 | $49M |
| FY2023 | 146 | 6 | $35M |
| FY2024 | 146 | 16 | $46M |
| FY2025 | 176 | 18 | $78M |
| FY2026 (through June 30, 2026) | 104 | 9 | $30M |
The SBA fiscal year runs October through September.
Common questions
Who is the most active SBA lender in Vermont?
By funded loans since FY2020, Community National Bank leads Vermont with 172 loans.
How big is a typical SBA loan in Vermont?
The median 7(a) loan in Vermont is $72K, and the middle half runs from $30K to $200K. The median 504 loan is $361K. Nationally the 7(a) median is $200K.
What interest rate do Vermont SBA borrowers get?
The median starting rate on Vermont 7(a) loans since FY2020 is 7.68%, against 9.25% nationally. 58% of those loans carry a variable rate, which moves with the prime rate.
Can a startup get an SBA loan in Vermont?
Yes. 38% of Vermont 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 Vermont. 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.