Local lending data
Who lends to businesses in Norfolk County?
622 SBA 7(a) loans went to businesses in Norfolk County recently, at a median of $129,350. The lenders that made them, ranked, with local rates and startup share.
622 SBA 7(a) loans went to businesses in Norfolk County in the most recent fiscal years, at a median of $129,350. The most active lender was Eastern Bank, with 133 loans.
SBA lending in Norfolk County, by the numbers
Every figure here is computed from SBA 7(a) loan-level FOIA data released 2026-06-30 — loans that were actually approved to businesses in this county, not advertised ranges.
| Measure | Norfolk County | Massachusetts | National |
|---|---|---|---|
| Loans approved | 622 | 5,664 | 214,102 |
| Median loan | $129,350 | $100,000 | $150,000 |
| 25th - 75th percentile | $50,000 - $302,000 | $50,000 - $252,000 | $50,000 - $500,000 |
| Median term | 10 years | 10 years | 10 years |
| Median initial rate | 10.00% | 10.00% | 10.25% |
| Share to startups | 26.7% | 27.9% | 33.6% |
| Charge-off rate, FY2010-19 | 5.6% | 5.9% | 7.1% |
| Jobs supported | 6,014 | 51,061 | 2,142,602 |
Which lenders actually funded them
Ranked by loans approved to businesses in Norfolk County. The median, startup share and rate columns describe each lender's own loans in this county, not its national averages.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| Eastern Bank | 133 | $95,000 | 13% | 10.00% |
| TD Bank | 57 | $25,000 | 39% | 11.50% |
| Rockland Trust Company | 50 | $221,000 | 26% | 7.78% |
| The Huntington National Bank | 29 | $270,000 | 72% | 10.75% |
| Needham Bank | 27 | $77,500 | 48% | 9.50% |
| St. Mary's CU | 22 | $50,000 | 23% | 7.38% |
| Live Oak Banking Company | 20 | $450,000 | 15% | 9.25% |
| Newtek Bank | 20 | $225,000 | 0% | 11.50% |
| Northeast Bank | 20 | $147,850 | 5% | 11.25% |
| Webster Bank | 15 | $250,000 | 33% | 9.50% |
What stands out here
Reading these figures against the national picture:
- Loans here run smaller than average. The median of $129,350 is 14% below the $150,000 national median. Smaller loans price higher under the SBA spread caps, so budget for a rate above the headline range.
- Startup share is about average, at 27% against 34% nationally.
- No single lender dominates, but the top three made 39% of these loans, so the shortlist below covers most of the active market.
Who borrows in Norfolk County
The mix of industries taking SBA loans here, led by construction.
| Sector | Loans | Share |
|---|---|---|
| Construction | 109 | 17.5% |
| Healthcare | 84 | 13.5% |
| Professional Services | 79 | 12.7% |
| Restaurants and Hotels | 70 | 11.3% |
| Admin Services | 60 | 9.6% |
| Personal Services | 59 | 9.5% |
| Retail | 46 | 7.4% |
| Manufacturing | 27 | 4.3% |
How to use this
- Shortlist three lenders from the table whose median loan in this county is close to what you need. Size match matters more than brand.
- 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 your cash flow supports.
- Follow your sector link in the table above for lender data specific to your industry across Massachusetts.
Other counties in Massachusetts
- Nearby markets with published data: Middlesex County, Essex County, Worcester County, Suffolk County, Plymouth County, Bristol County, Barnstable County, Hampden County