Lending data
Who actually lends to restaurants, bars, and hotels in Massachusetts?
647 SBA 7(a) loans went to restaurants, bars, and hotels in Massachusetts recently, at a median of $150,000. Here are the lenders that made them, ranked.
647 SBA 7(a) loans went to restaurants, bars, and hotels in Massachusetts in the most recent fiscal years. The median was $150,000 over 10 years. The most active lender was Eastern Bank, with 104 loans.
What lending to restaurants, bars, and hotels in Massachusetts 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 | Restaurants, bars, and hotels, Massachusetts | All 7(a) borrowers |
|---|---|---|
| Loans approved | 647 | 214,102 |
| Median loan | $150,000 | $150,000 |
| 25th - 75th percentile | $50,000 - $350,000 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 9.75% | 10.25% |
| Share to startups | 37.6% | 33.6% |
| Charge-off rate, FY2010-19 cohort | 5.9% | 7.1% |
Which lenders actually funded them
Ranked by loans approved to restaurants, bars, and hotels in Massachusetts. 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 |
|---|---|---|---|---|
| Eastern Bank | 104 | $100,000 | 22% | 9.99% |
| Rockland Trust Company | 59 | $195,000 | 29% | 7.25% |
| TD Bank | 55 | $49,000 | 34% | 11.00% |
| Manufacturers and Traders Trust Company | 49 | $80,000 | 57% | 10.99% |
| Newtek Bank | 27 | $250,000 | 0% | 10.75% |
| Webster Bank | 25 | $200,000 | 32% | 10.14% |
| The Huntington National Bank | 21 | $255,500 | 90% | 10.25% |
| Beacon Bank and Trust | 21 | $100,000 | 14% | 9.50% |
| Cambridge Savings Bank | 20 | $200,000 | 35% | 9.75% |
| Live Oak Banking Company | 16 | $842,500 | 69% | 9.00% |
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 38% against 34% nationally.
- No single lender dominates, but the top three made 34% 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.
Which of them lend to new businesses
Of those loans, 37.6% 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 |
|---|---|---|---|---|
| Manufacturers and Traders Trust Company | 28 | $80,000 | 57% | 10.99% |
| Eastern Bank | 23 | $100,000 | 22% | 9.99% |
| TD Bank | 19 | $49,000 | 34% | 11.00% |
| The Huntington National Bank | 19 | $255,500 | 90% | 10.25% |
| Rockland Trust Company | 17 | $195,000 | 29% | 7.25% |
| Live Oak Banking Company | 11 | $842,500 | 69% | 9.00% |
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 Massachusetts: construction, professional services, personal services, retail, healthcare, admin services
- Restaurants and Hotels in comparable states: Colorado, Indiana, Minnesota, North Carolina, Virginia, Arizona