Lending data
Who actually lends to healthcare practices in Rhode Island?
69 SBA 7(a) loans went to healthcare practices in Rhode Island recently, at a median of $150,000. Here are the lenders that made them, ranked.
69 SBA 7(a) loans went to healthcare practices in Rhode Island in the most recent fiscal years. The median was $150,000 over 10 years. The most active lender was Beacon Bank and Trust, with 7 loans.
What lending to healthcare practices in Rhode Island 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 | Health care and social assistance, Rhode Island | All 7(a) borrowers |
|---|---|---|
| Loans approved | 69 | 214,102 |
| Median loan | $150,000 | $150,000 |
| 25th - 75th percentile | $75,000 - $325,000 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 9.75% | 10.25% |
| Share to startups | 40.6% | 33.6% |
| Charge-off rate, FY2010-19 cohort | 3.0% | 7.1% |
Which lenders actually funded them
Ranked by loans approved to healthcare practices in Rhode Island. 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 |
|---|---|---|---|---|
| Beacon Bank and Trust | 7 | $150,000 | 29% | 9.75% |
| The Huntington National Bank | 6 | $184,500 | 100% | 10.25% |
| Live Oak Banking Company | 6 | $1,362,500 | 33% | 9.25% |
| TD Bank | 5 | $126,000 | 40% | 11.50% |
| BankNewport | 5 | $100,000 | 20% | 12.75% |
| Bristol County Savings Bank | 4 | $215,500 | 25% | 9.12% |
| Webster Bank | 4 | $154,500 | 0% | 9.00% |
| Baycoast Bank | 4 | $150,000 | 50% | 7.88% |
| Readycap Lending, LLC | 3 | $40,500 | 0% | 14.25% |
| Community Investment Corporation | 3 | $100,400 | 100% | 12.25% |
What stands out in this market
Reading the figures above against the national picture:
- Loan sizes are typical. The median of $150,000 is within a few percent of the $150,000 national median across all 7(a) borrowers, so nothing about this market is unusual on size.
- Startup share is about average, at 41% against 34% nationally.
- No single lender dominates, but the top three made 28% of these loans, so the shortlist below covers most of the active market.
- Rates run lower here. The median initial rate of 9.75% is 0.50 points below 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 3.0% 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, 40.6% 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 |
|---|---|---|---|---|
| The Huntington National Bank | 6 | $184,500 | 100% | 10.25% |
| Community Investment Corporation | 3 | $100,400 | 100% | 12.25% |
| TowneBank | 2 | $691,500 | 100% | 9.75% |
| Baycoast Bank | 2 | $150,000 | 50% | 7.88% |
| TD Bank | 2 | $126,000 | 40% | 11.50% |
| Beacon Bank and Trust | 2 | $150,000 | 29% | 9.75% |
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 Rhode Island: construction, restaurants and hotels, retail, personal services, professional services, admin services
- Healthcare in comparable states: West Virginia, New Mexico, Delaware, Arkansas, Montana, District of Columbia