Local lending data
Who lends to businesses in Penobscot County?
105 SBA 7(a) loans went to businesses in Penobscot County recently, at a median of $125,000. The lenders that made them, ranked, with local rates and startup share.
105 SBA 7(a) loans went to businesses in Penobscot County in the most recent fiscal years, at a median of $125,000. The most active lender was TD Bank, with 22 loans.
SBA lending in Penobscot 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 | Penobscot County | Maine | National |
|---|---|---|---|
| Loans approved | 105 | 1,160 | 214,102 |
| Median loan | $125,000 | $100,000 | $150,000 |
| 25th - 75th percentile | $43,500 - $330,000 | $40,000 - $250,000 | $50,000 - $500,000 |
| Median term | 10 years | 10 years | 10 years |
| Median initial rate | 9.00% | 9.25% | 10.25% |
| Share to startups | 47.6% | 42.9% | 33.6% |
| Charge-off rate, FY2010-19 | 5.6% | 4.7% | 7.1% |
| Jobs supported | 674 | 8,770 | 2,142,602 |
Which lenders actually funded them
Ranked by loans approved to businesses in Penobscot 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 |
|---|---|---|---|---|
| TD Bank | 22 | $42,250 | 50% | 11.12% |
| Machias Savings Bank | 19 | $231,000 | 42% | 7.99% |
| Bangor Savings Bank | 18 | $200,000 | 33% | 8.19% |
| KeyBank | 11 | $30,000 | 82% | 11.31% |
| Bar Harbor Bank & Trust | 9 | $48,900 | 22% | 8.84% |
| Seaboard FCU | 4 | $67,350 | 75% | 9.62% |
| Katahdin Trust Company | 4 | $160,500 | 25% | 8.25% |
| Maine Community Bank | 3 | $555,600 | 100% | 7.25% |
| Eastern Maine Development Corporation | 2 | $117,500 | 100% | 8.38% |
| Byline Bank | 2 | $2,075,000 | 100% | 9.25% |
What stands out here
Reading these figures against the national picture:
- Loans here run smaller than average. The median of $125,000 is 17% 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. 48% 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.
- No single lender dominates, but the top three made 56% of these loans, so the shortlist below covers most of the active market.
- Rates run lower here. The median initial rate of 9.00% is 1.25 points below the 10.25% national median, which usually tracks loan size and perceived sector risk rather than geography.
Who borrows in Penobscot County
The mix of industries taking SBA loans here, led by construction.
| Sector | Loans | Share |
|---|---|---|
| Construction | 18 | 17.1% |
| Trucking | 12 | 11.4% |
| Admin Services | 11 | 10.5% |
| Manufacturing | 11 | 10.5% |
| Personal Services | 11 | 10.5% |
| Retail | 11 | 10.5% |
| Healthcare | 9 | 8.6% |
| Restaurants and Hotels | 7 | 6.7% |
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 Maine.
Other counties in Maine
- Nearby markets with published data: Cumberland County, York County