Lending data
Who actually lends to retail businesses in Massachusetts?
555 SBA 7(a) loans went to retail businesses in Massachusetts recently, at a median of $100,000. Here are the lenders that made them, ranked.
555 SBA 7(a) loans went to retail businesses in Massachusetts in the most recent fiscal years. The median was $100,000 over 10 years. The most active lender was Eastern Bank, with 111 loans.
What lending to retail businesses 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 | Retail, Massachusetts | All 7(a) borrowers |
|---|---|---|
| Loans approved | 555 | 214,102 |
| Median loan | $100,000 | $150,000 |
| 25th - 75th percentile | $50,000 - $250,000 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 10.00% | 10.25% |
| Share to startups | 27.6% | 33.6% |
| Charge-off rate, FY2010-19 cohort | 6.1% | 7.1% |
Which lenders actually funded them
Ranked by loans approved to retail businesses 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 | 111 | $55,300 | 12% | 10.74% |
| TD Bank | 70 | $30,000 | 43% | 10.75% |
| Rockland Trust Company | 63 | $250,000 | 19% | 7.25% |
| Manufacturers and Traders Trust Company | 38 | $80,000 | 32% | 10.50% |
| Beacon Bank and Trust | 18 | $150,000 | 17% | 9.38% |
| Bank of America | 13 | $395,300 | 8% | 10.50% |
| Salem Five Cents Savings Bank | 13 | $150,000 | 31% | 9.50% |
| BayFirst National Bank | 12 | $150,000 | 0% | 13.25% |
| Readycap Lending, LLC | 10 | $50,000 | 10% | 15.00% |
| Newtek Bank | 10 | $150,000 | 20% | 11.50% |
What stands out in this market
Reading the figures above against the national picture:
- Loans here run smaller than average. The median of $100,000 is 33% 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 28% against 34% nationally.
- No single lender dominates, but the top three made 44% of these loans, so the shortlist below covers most of the active market.
Which of them lend to new businesses
Of those loans, 27.6% 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 |
|---|---|---|---|---|
| TD Bank | 30 | $30,000 | 43% | 10.75% |
| Eastern Bank | 13 | $55,300 | 12% | 10.74% |
| Manufacturers and Traders Trust Company | 12 | $80,000 | 32% | 10.50% |
| Rockland Trust Company | 12 | $250,000 | 19% | 7.25% |
| Needham Bank | 4 | $25,000 | 44% | 10.00% |
| Enterprise Bank & Trust | 4 | $1,287,750 | 100% | 9.25% |
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, restaurants and hotels, personal services, healthcare, admin services
- Retail in comparable states: Minnesota, North Carolina, Oregon, Wisconsin, Arizona, Illinois