Lending data
Who actually lends to construction and contracting businesses in Vermont?
98 SBA 7(a) loans went to construction and contracting businesses in Vermont recently, at a median of $50,000. Here are the lenders that made them, ranked.
98 SBA 7(a) loans went to construction and contracting businesses in Vermont in the most recent fiscal years. The median was $50,000 over 10 years. The most active lender was TD Bank, with 32 loans.
What lending to construction and contracting businesses in Vermont actually looks like
Every figure on this page is computed from SBA 7(a) loan-level FOIA data released 2026-06-30. It reflects loans that were actually approved, not rate cards or advertised ranges.
| Measure | Construction and contracting, Vermont | All 7(a) borrowers |
|---|---|---|
| Loans approved | 98 | 214,102 |
| Median loan | $50,000 | $150,000 |
| 25th - 75th percentile | $25,000 - $102,500 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 10.75% | 10.25% |
| Share to startups | 41.8% | 33.6% |
| Charge-off rate, FY2010-19 cohort | 4.1% | 7.1% |
Which lenders actually funded them
Ranked by loans approved to construction and contracting businesses in Vermont. This is the list worth working from, because a lender that has funded dozens of businesses like yours in your state has seen your file before.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| TD Bank | 32 | $47,500 | 34% | 10.75% |
| Manufacturers and Traders Trust Company | 26 | $47,500 | 42% | 13.12% |
| Community National Bank | 8 | $50,000 | 62% | 8.62% |
| KeyBank | 5 | $20,000 | 100% | 12.34% |
| Heritage Family FCU | 5 | $50,000 | 60% | 9.00% |
| BayFirst National Bank | 3 | $150,000 | 0% | 12.25% |
| EastRise Federal Credit Union | 2 | $125,000 | 50% | 7.92% |
| Bar Harbor Bank & Trust | 2 | $90,150 | 0% | 8.20% |
| First Bank of the Lake | 2 | $2,280,000 | 100% | 9.25% |
What stands out in this market
Reading the figures above against the national picture:
- Loans here run smaller than average. The median of $50,000 is 67% below the $150,000 national median. Smaller loans price higher under the SBA spread caps, so budget for a rate above the headline range.
- New businesses do well here. 42% of these loans went to startups or businesses under two years old, against 34% nationally — an unusually open market if you have no trading history.
- One lender dominates. TD Bank alone made 33% of these loans, and the top three made 67%. That concentration usually means a lender with a dedicated program for this sector — worth starting there, but get a second quote so you know the terms are competitive.
- Rates run higher here. The median initial rate of 10.75% is 0.50 points above the 10.25% national median, which usually tracks loan size and perceived sector risk rather than geography.
- This market has performed well. Its FY2010-2019 charge-off rate of 4.1% is below the 7.1% overall figure, which is part of why lenders compete for it.
Which of them lend to new businesses
Of those loans, 41.8% went to businesses the SBA classes as startups — new, under two years old, or opening with the proceeds. These are the lenders in this market that actually wrote them.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| TD Bank | 11 | $47,500 | 34% | 10.75% |
| Manufacturers and Traders Trust Company | 11 | $47,500 | 42% | 13.12% |
| Community National Bank | 5 | $50,000 | 62% | 8.62% |
| KeyBank | 5 | $20,000 | 100% | 12.34% |
| Heritage Family FCU | 3 | $50,000 | 60% | 9.00% |
| First Bank of the Lake | 2 | $2,280,000 | 100% | 9.25% |
How to use this
- Shortlist three lenders from the table whose median loan is close to what you need.
- Ask each whether they are a Preferred Lender and how many 7(a) loans they closed last year. See choosing an SBA lender.
- Check your coverage first with the affordability calculator so you ask for a number the cash flow supports.
- Assemble the package before you call. The document checklist is the single biggest thing you control.
Compare other markets
- Other sectors in Vermont: retail, restaurants and hotels, manufacturing, admin services, professional services, personal services
- Construction in comparable states: Delaware, Hawaii, Montana, West Virginia, Mississippi, New Mexico