State lending data
SBA lending in Maine
1,160 SBA 7(a) loans went to businesses in Maine recently, at a median of $100,000. The lenders that made them, what they charged, and how the state is trending.
1,160 SBA 7(a) loans went to businesses in Maine in the most recent fiscal years, at a median of $100,000. The most active lender in the state was TD Bank, with 249 loans. Approvals are down 16.9% on the year.
SBA lending in Maine, 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 Maine, not advertised ranges.
| Measure | Maine | National |
|---|---|---|
| Loans approved | 1,160 | 214,102 |
| Total approved | $302.4 million | $104.1 billion |
| Median loan | $100,000 | $150,000 |
| 25th – 75th percentile | $40,000 – $250,000 | $50,000 – $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 9.25% | 10.25% |
| Share to startups | 42.9% | 33.6% |
| Charge-off rate, FY2010–19 | 4.7% | 7.1% |
| Jobs supported | 8,770 | 2,142,602 |
| Counties with recorded lending | 16 | — |
| Lenders active in the state | 74 | — |
Is SBA lending in Maine growing or shrinking?
Fewer, larger loans. The number of approvals fell while the total dollars approved rose, so what shrank in Maine is small-loan lending. Comparing December 2025 to June 2026 with December 2024 to June 2025, the same months a year earlier, 7(a) approvals to businesses in Maine went from 195 to 162 loans, down 16.9% — while the dollars approved went from $52.2 million to $61.0 million, up 16.7%. The average approval rose from $267,804 to $376,260, so the change is weighted toward larger loans.
That puts Maine mid-table — 19th of 51 for year-on-year change, against a national decline of 21.0%.
| Fiscal year | Loans in Maine | Loans nationally | State share |
|---|---|---|---|
| FY2023 | 308 | 51,747 | 0.6% |
| FY2024 | 333 | 62,618 | 0.5% |
| FY2025 | 339 | 64,096 | 0.5% |
| FY2026 (part year) | 180 | 35,641 | 0.5% |
Which lenders actually fund businesses in Maine
Ranked by loans approved inside Maine. The median, startup share and rate columns describe each lender's own Maine 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 |
|---|---|---|---|---|
| TD Bank | 249 | $40,000 | 38% | 11.30% |
| Bangor Savings Bank | 163 | $127,000 | 49% | 8.50% |
| Maine Community Bank | 155 | $150,000 | 50% | 7.75% |
| Manufacturers and Traders Trust Company | 72 | $35,000 | 53% | 10.88% |
| Androscoggin Savings Bank | 47 | $100,000 | 43% | 7.77% |
| Norway Savings Bank | 42 | $77,500 | 55% | 8.25% |
| Machias Savings Bank | 42 | $200,000 | 38% | 8.38% |
| Katahdin Trust Company | 39 | $150,500 | 41% | 8.50% |
| KeyBank | 38 | $27,500 | 71% | 11.49% |
| Bar Harbor Bank & Trust | 30 | $53,000 | 17% | 8.91% |
| Kennebunk Savings Bank | 26 | $102,650 | 46% | 8.30% |
| Northeast Bank | 25 | $68,600 | 16% | 10.75% |
What stands out about Maine
Reading the state's own figures against the national picture:
- Loans here run smaller than average. The median of $100,000 is 33% below the $150,000 national median. Smaller loans usually price higher under the SBA spread caps, though that has not happened here: the median rate in this market is 9.25% against 10.25% nationally.
- New businesses do well here. 42.9% of these loans went to startups or businesses no more than two years old, against 33.6% nationally — an unusually open market if you have no trading history.
- Rates run lower here. The median initial rate of 9.25% is 1.00 points below the 10.25% national median. Most 7(a) lending is variable-rate, so treat this as a comparison between markets, not a quote.
- Past loss rates here are below average. The FY2010–2019 charge-off rate for this market was 4.7%, against 7.1% overall. That is a record of an older cohort, not a forecast.
Who borrows in Maine
The industry mix of SBA borrowers here, led by restaurants and hotels.
| Sector | Loans | Share | Median loan | To startups |
|---|---|---|---|---|
| Restaurants and Hotels | 196 | 16.9% | $122,500 | 61% |
| Construction | 157 | 13.5% | $75,000 | 32% |
| Personal Services | 114 | 9.8% | $51,500 | 48% |
| Retail | 113 | 9.7% | $125,000 | 40% |
| Healthcare | 93 | 8.0% | $115,000 | 46% |
| Admin Services | 90 | 7.8% | $75,000 | 46% |
| Manufacturing | 88 | 7.6% | $106,000 | 33% |
| Professional Services | 83 | 7.2% | $100,000 | 29% |
| Trucking | 54 | 4.7% | $87,950 | 39% |
| Agriculture | 50 | 4.3% | $73,450 | 30% |
| Arts and Recreation | 44 | 3.8% | $95,000 | 68% |
| Real Estate | 29 | 2.5% | $150,000 | 21% |
Where the money goes in Maine
SBA lending is more concentrated than state totals suggest, and Cumberland County alone accounts for 32% of the state's loans.
| County | Loans | Median loan | Total approved |
|---|---|---|---|
| Cumberland County | 370 | $111,000 | $88.9 million |
| York County | 236 | $75,000 | $61.1 million |
| Penobscot County | 105 | $125,000 | $31.1 million |
| Androscoggin County | 84 | $88,600 | $20.5 million |
| Oxford County | 55 | $68,000 | $7.5 million |
| Hancock County | 53 | $100,000 | $17.9 million |
| Knox County | 48 | $92,500 | $18.0 million |
| Aroostook County | 42 | $75,900 | $10.5 million |
| Kennebec County | 41 | $115,000 | $11.6 million |
| Sagadahoc County | 30 | $121,500 | $6.4 million |
SBA 504 in Maine
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 | Maine 504 | National 504 |
|---|---|---|
| Projects approved | 179 | 22,192 |
| Median CDC share | $445,000 | $730,000 |
| Median total project | $1,062,000 | $1,642,000 |
| Median term | 25 years | 25 years |
- Which CDCs operate here, and on what terms: SBA 504 in Maine
- 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 Maine 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: Iowa, Mississippi, Kansas, Nebraska, Alabama, Arkansas, California, Florida
Questions people actually ask
How many SBA loans are approved in Maine each year?
1,160 SBA 7(a) loans were approved to businesses in Maine across fiscal years 2023 to 2026, using data released June 2026, worth $302.4 million in total. Over the most recent comparable months the number of approvals ran down 16.9% year on year, while the dollars approved ran up 16.7%.
Which bank approves the most SBA loans in Maine?
TD Bank, with 249 loans approved to businesses in the state and a median loan of $40,000. 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 Maine?
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.