wbjournal.com | Book of Lists 2021 | Worcester Business Journal 27
F O C U S B A N K I N G & F I N A N C E F O C U S
Top SBA 7(a) lenders
Ranked by total number of loans issued in Massachusetts, fiscal year 2020(a)
Lender
No. of loans
FY 2020/
FY 2019/
FY 2018
% change in no. of loans
FY 2019 to FY 2020/
FY 2018 to FY 2019
Amount of loans
FY 2020/
FY 2019/
FY 2018
% change in amount of
loans
FY 2019 to FY 2020/
FY 2018 to FY 2019
1
Eastern Bank
2 South Ave., Natick 01760
508-655-4101 • www.easternbank.com
402
415
565
-3%
-27%
$34,164,700
$41,690,900
$43,285,500
-18%
-4%
2
TD Bank
295 Park Ave., Worcester 01609
508-752-2584 • www.tdbank.com
79
156
227
-49%
-31%
$11,782,566
$12,625,900
$14,203,100
-7%
-11%
3
St. Mary's Credit Union
46 Lizotte Drive, Marlborough 01752
508-490-8000 • www.stmaryscu.org
40
49
36
-18%
36%
$2,567,000
$1,536,300
$2,022,400
67%
-24%
4
Salem Five Cents Savings Bank
19 Concord Road, Sudbury 01776
978-579-0592 • www.salemfive.com
25
39
50
-36%
-22%
$8,247,800
$15,433,400
$11,321,900
-47%
36%
5
Santander Bank NA
446 Main St., Worcester 01608
508-890-6810 • www.santanderbank.com
20
49
50
-59%
-2%
$4,213,400
$6,152,700
$4,783,700
-32%
29%
6
Bristol County Savings Bank
375 W. Central St., Franklin 02038
508-528-2666 • www.bristolcountysavings.com
19
22
12
-14%
83%
$3,044,000
$2,690,300
$2,176,600
13%
24%
6
People's United Bank
120 Front St., Worcester 01608
508-890-5199 • www.peoples.com
19
16
14
19%
14%
$3,752,300
$2,190,000
$3,165,000
71%
-31%
8
Citizens Bank
34 Main St., Natick 01760
508-653-5100 • www.citizensbank.com
16
41
118
-61%
-65%
$11,741,800
$13,295,642
$18,898,100
-12%
-30%
9
Berkshire Bank
303 Turnpike Road, Westborough 01581
508-366-4750 • www.berkshirebank.com
15
25
62
-40%
-60%
$10,866,000
$7,277,500
$5,381,300
49%
35%
10
Needham Bank
41 Front St., Ashland 01721
508-881-1088 • www.needhambank.com
14
15
3
-7%
400%
$2,089,000
$3,615,300
$675,000
-42%
436%
11
Northern Bank & Trust
265 Great Road, Littleton 01460
978-486-3543 • www.nbtc.com
10
23
11
-57%
109%
$3,327,000
$11,797,800
$7,761,500
-72%
52%
11
Rockland Trust Co.
58 Main St., Franklin 02038
508-520-3958 • www.rocklandtrust.com
10
18
48
-44%
-63%
$7,712,700
$7,068,000
$11,749,600
9%
-40%
13
Dean Bank
21 Main St., Franklin 02038
508-528-0088 • www.deanbank.com
7
4
3
75%
33%
$482,700
$761,600
$450,000
-37%
69%
13
Enterprise Bank & Trust Co.
65 Main St., Leominster 01453
978-656-5689 • www.enterprisebanking.com
7
9
12
-22%
-25%
$2,660,500
$2,676,700
$2,985,900
-1%
-10%
15
Avidia Bank
42 Main St., Hudson 01749
978-562-2222 • www.avidiabank.com
6
15
21
-60%
-29%
$2,015,000
$7,907,600
$14,981,500
-75%
-47%
15
Cornerstone Bank
230 Park Ave., Worcester 01609
508-421-8070 • www.cornerstonebank.com
6
19
23
-68%
-17%
$1,475,500
$2,982,600
$2,879,900
-51%
4%
Source: U.S. Small Business Administration and lender websites. Notes: The SBA's fiscal year runs from Oct. 1 to Sept. 30. List includes only lenders with at least one branch in Central Mass.
(a) Lenders listed are for SBA 7(a) loans. Lending eligibility criteria are broader than those of other types of loans such as those associated with the 504 Loan Program.
- Compiled by: Timothy Doyle, tdoyle@nebusinessmedia.com
Source: Federal Reserve Bank
of St. Louis
The national personal savings
rate, typically between 6%
and 8%, soared during the
coronavirus pandemic.
More savings
Personal savings rate
2016
2019
2020
2018
2017
33.7%
13.7%
