State lending data
SBA lending in Connecticut
2,826 SBA 7(a) loans went to businesses in Connecticut recently, at a median of $120,000. The lenders that made them, what they charged, and how the state is trending.
2,826 SBA 7(a) loans went to businesses in Connecticut in the most recent fiscal years, at a median of $120,000. The most active lender in the state was Manufacturers and Traders Trust Company, with 686 loans. Approvals are up 5.3% on the year.
SBA lending in Connecticut, by the numbers
Every figure here is computed from SBA 7(a) loan-level FOIA data released 2026-06-30 — loans actually approved to businesses in Connecticut, not advertised ranges.
| Measure | Connecticut | National |
|---|---|---|
| Loans approved | 2,826 | 214,102 |
| Total approved | $1.0 billion | $104.1 billion |
| Median loan | $120,000 | $150,000 |
| 25th – 75th percentile | $50,000 – $340,875 | $50,000 – $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 10.50% | 10.25% |
| Share to startups | 32.4% | 33.6% |
| Charge-off rate, FY2010–19 | 6.7% | 7.1% |
| Jobs supported | 24,269 | 2,142,602 |
| Planning regions with recorded lending | 9 | — |
| Lenders active in the state | 134 | — |
Is SBA lending in Connecticut growing or shrinking?
More loans, less money. Connecticut approved more 7(a) loans than a year earlier but a smaller total amount. Comparing December 2025 to June 2026 with December 2024 to June 2025, the same months a year earlier, 7(a) approvals to businesses in Connecticut went from 492 to 518 loans, up 5.3% — while the dollars approved went from $177.4 million to $161.7 million, down 8.9%. The average approval fell from $360,662 to $312,084, so the change is weighted toward smaller loans.
Connecticut is holding up better than most of the country: 1st of 51 for year-on-year change, against a national decline of 21.0%.
| Fiscal year | Loans in Connecticut | Loans nationally | State share |
|---|---|---|---|
| FY2023 | 654 | 51,747 | 1.3% |
| FY2024 | 786 | 62,618 | 1.3% |
| FY2025 | 805 | 64,096 | 1.3% |
| FY2026 (part year) | 581 | 35,641 | 1.6% |
Which lenders actually fund businesses in Connecticut
Ranked by loans approved inside Connecticut. The median, startup share and rate columns describe each lender's own Connecticut loans, not its national averages — the same bank often writes very different business from one state to the next.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| Manufacturers and Traders Trust Company | 686 | $50,000 | 35% | 11.50% |
| TD Bank | 314 | $50,000 | 35% | 11.18% |
| Webster Bank | 271 | $150,000 | 18% | 9.75% |
| Newtek Bank | 141 | $250,000 | 23% | 11.50% |
| Liberty Bank | 137 | $100,000 | 42% | 10.75% |
| KeyBank | 105 | $30,000 | 70% | 11.47% |
| Live Oak Banking Company | 93 | $777,000 | 30% | 9.24% |
| BayFirst National Bank | 83 | $150,000 | 2% | 12.25% |
| The Huntington National Bank | 78 | $221,000 | 70% | 10.38% |
| Readycap Lending, LLC | 77 | $165,000 | 18% | 11.25% |
| Northeast Bank | 62 | $100,000 | 5% | 10.75% |
| Beacon Bank and Trust | 53 | $500,000 | 21% | 9.50% |
What stands out about Connecticut
Reading the state's own figures against the national picture:
- Loans here run smaller than average. The median of $120,000 is 20% below the $150,000 national median. Smaller loans price higher under the SBA spread caps, and the rate here does run above the national median — see below.
- Startup share is close to average, at 32.4% against 33.6% nationally.
Who borrows in Connecticut
The industry mix of SBA borrowers here, led by construction.
| Sector | Loans | Share | Median loan | To startups |
|---|---|---|---|---|
| Construction | 474 | 16.8% | $101,750 | 19% |
| Retail | 372 | 13.2% | $100,000 | 37% |
| Restaurants and Hotels | 292 | 10.3% | $150,000 | 48% |
| Personal Services | 286 | 10.1% | $90,000 | 36% |
| Healthcare | 280 | 9.9% | $150,000 | 42% |
| Professional Services | 233 | 8.2% | $130,000 | 22% |
| Admin Services | 202 | 7.1% | $100,000 | 28% |
| Manufacturing | 186 | 6.6% | $250,000 | 27% |
| Trucking | 109 | 3.9% | $50,000 | 31% |
| Wholesale | 108 | 3.8% | $219,000 | 25% |
| Arts and Recreation | 92 | 3.3% | $132,500 | 56% |
| Real Estate | 64 | 2.3% | $115,250 | 38% |
Where the money goes in Connecticut
SBA lending is more concentrated than state totals suggest, and Capitol Planning Region alone accounts for 25% of the state's loans.
| Planning region | Loans | Median loan | Total approved |
|---|---|---|---|
| Capitol Planning Region | 713 | $100,000 | $271.2 million |
| Western Connecticut Planning Region | 537 | $150,000 | $203.1 million |
| South Central Connecticut Planning Region | 407 | $125,000 | $166.2 million |
| Naugatuck Valley Planning Region | 288 | $100,000 | $103.3 million |
| Greater Bridgeport Planning Region | 267 | $85,000 | $60.3 million |
| Lower Connecticut River Valley Planning Region | 131 | $115,300 | $50.4 million |
| Southeastern Connecticut Planning Region | 110 | $109,000 | $27.5 million |
| Northwest Hills Planning Region | 73 | $150,000 | $22.4 million |
| Northeastern Connecticut Planning Region | 41 | $125,000 | $13.2 million |
SBA 504 in Connecticut
7(a) is the general-purpose program. 504 is the one for buying the building or the heavy equipment, at a long fixed rate — a different program with its own lenders, called Certified Development Companies.
| Measure | Connecticut 504 | National 504 |
|---|---|---|
| Projects approved | 326 | 22,192 |
| Median CDC share | $554,500 | $730,000 |
| Median total project | $1,274,252 | $1,642,000 |
| Median term | 25 years | 25 years |
- Which CDCs operate here, and on what terms: SBA 504 in Connecticut
- How the two programs differ: SBA 504 loans and SBA 7(a) loans
How to use this page
- Start from the lender table, not a search engine. Shortlist three whose median loan in Connecticut is near what you need. Size match beats brand.
- Follow your industry link in the sector table for the lenders that fund your kind of business in this state specifically.
- Then your county, if it is listed, for the local picture.
- Check the payment before you apply with the affordability calculator — lenders decline on cash flow more than on anything else.
- Filter the whole lender file yourself in the lender finder if you want to combine state, industry, loan size and business age at once.
Other states
- States of comparable lending volume: Missouri, Tennessee, Oregon, South Carolina, Wisconsin, Nevada, California, Florida
Questions people actually ask
How many SBA loans are approved in Connecticut each year?
2,826 SBA 7(a) loans were approved to businesses in Connecticut across fiscal years 2023 to 2026, using data released June 2026, worth $1.0 billion in total. Over the most recent comparable months the number of approvals ran up 5.3% year on year, while the dollars approved ran down 8.9%.
Which bank approves the most SBA loans in Connecticut?
Manufacturers and Traders Trust Company, with 686 loans approved to businesses in the state and a median loan of $50,000. That makes it the most active, not necessarily the best fit — a lender whose median is far from your number is usually the wrong call.
Do I have to use a lender based in Connecticut?
No. SBA lenders routinely lend across state lines and several of the largest are non-bank lenders with no branches at all. What the state data tells you is which institutions are already comfortable with businesses like yours here.