Lending data
Who actually lends to restaurants, bars, and hotels in Maine?
196 SBA 7(a) loans went to restaurants, bars, and hotels in Maine recently, at a median of $122,500. Here are the lenders that made them, ranked.
196 SBA 7(a) loans went to restaurants, bars, and hotels in Maine in the most recent fiscal years. The median was $122,500 over 10 years. The most active lender was Bangor Savings Bank, with 46 loans.
What lending to restaurants, bars, and hotels in Maine 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, Maine | All 7(a) borrowers |
|---|---|---|
| Loans approved | 196 | 214,102 |
| Median loan | $122,500 | $150,000 |
| 25th - 75th percentile | $50,000 - $299,925 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 8.54% | 10.25% |
| Share to startups | 61.2% | 33.6% |
| Charge-off rate, FY2010-19 cohort | 5.8% | 7.1% |
Which lenders actually funded them
Ranked by loans approved to restaurants, bars, and hotels in Maine. 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 |
|---|---|---|---|---|
| Bangor Savings Bank | 46 | $120,000 | 63% | 8.70% |
| Maine Community Bank | 37 | $247,000 | 70% | 7.25% |
| TD Bank | 22 | $45,000 | 36% | 11.50% |
| Androscoggin Savings Bank | 14 | $260,000 | 64% | 7.38% |
| Norway Savings Bank | 13 | $75,000 | 77% | 8.25% |
| Manufacturers and Traders Trust Company | 8 | $65,000 | 75% | 10.88% |
| Kennebunk Savings Bank | 8 | $133,750 | 62% | 8.54% |
| KeyBank | 6 | $30,000 | 67% | 10.79% |
| Machias Savings Bank | 5 | $150,000 | 60% | 8.50% |
| Franklin Savings Bank | 5 | $150,000 | 100% | 7.50% |
What stands out in this market
Reading the figures above against the national picture:
- Loans here run smaller than average. The median of $122,500 is 18% 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. 61% 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 54% of these loans, so the shortlist below covers most of the active market.
- Rates run lower here. The median initial rate of 8.54% is 1.71 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, 61.2% 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 |
|---|---|---|---|---|
| Bangor Savings Bank | 29 | $120,000 | 63% | 8.70% |
| Maine Community Bank | 26 | $247,000 | 70% | 7.25% |
| Norway Savings Bank | 10 | $75,000 | 77% | 8.25% |
| Androscoggin Savings Bank | 9 | $260,000 | 64% | 7.38% |
| TD Bank | 8 | $45,000 | 36% | 11.50% |
| Manufacturers and Traders Trust Company | 6 | $65,000 | 75% | 10.88% |
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 Maine: construction, personal services, retail, healthcare, admin services, manufacturing
- Restaurants and Hotels in comparable states: New Hampshire, Kansas, Idaho, Oklahoma, Louisiana, Iowa