16 Worcester Business Journal | Book of Lists 2023 | wbjournal.com
F O C U S B A N K I N G & F I N A N C E
Top SBA 7(a) lenders (1)
Ranked by total number of loans issued in Massachusetts, fiscal year 2022
Lender
No. of loans
FY 2022/
FY 2021/
FY 2020
% change in no. of loans
FY 2021 to FY 2022/
FY 2020 to FY 2021
Amount of loans
FY 2022/
FY 2021/
FY 2020
% change in amount of
loans
FY 2021 to FY 2022/
FY 2020 to FY 2021
1
Eastern Bank
2 South Ave., Natick 01760
508-655-4101 • easternbank.com
231
177
404
31%
-56%
$30,625,300
$33,357,800
$35,041,000
-8%
-5%
2
TD Bank
295 Park Ave., Worcester 01609
508-752-2584 • tdbank.com
82
60
77
37%
-22%
$9,611,700
$14,957,200
$11,622,400
-36%
29%
3
Needham Bank
41 Front St., Ashland 01721
508-881-1088 • needhambank.com
55
28
14
96%
100%
$7,394,700
$8,165,000
$2,089,000
-9%
291%
4
St. Mary's Credit Union
46 Lizotte Drive, Marlborough 01752
508-490-8000 • stmaryscu.org
39
29
40
34%
-28%
$2,638,900
$1,882,900
$2,567,000
40%
-27%
5
Santander Bank NA
51 Gold Star Blvd., Worcester 01605
508-421-9701 • santanderbank.com
32
1
20
3,100%
-95%
$1,683,100
$380,000
$4,213,400
343%
-91%
6
Salem Five Cents Savings Bank
19 Concord Road, Sudbury 01776
978-579-0592 • salemfive.com
31
24
25
29%
-4%
$10,444,400
$8,191,600
$8,241,800
28%
-1%
7
Northern Bank & Trust
265 Great Road, Littleton 01460
978-486-3543 • nbtc.com
18
11
10
64%
10%
$8,235,500
$3,327,100
$3,327,000
148%
0%
8
Bristol County Savings Bank
375 W. Central St., Franklin 02038
508-528-2666 • bristolcountysavings.com
17
18
19
-6%
-5%
$2,664,700
$3,473,000
$3,009,000
-23%
15%
9
Enterprise Bank & Trust Co.
65 Main St., Leominster 01453
978-534-7400 • enterprisebanking.com
16
9
7
78%
29%
$5,200,500
$2,607,000
$2,660,500
99%
-2%
9
Leader Bank NA
61 Boyden Road, Suite 2, Holden 01520
781-544-2569 • leaderbank.com
16
40
12
-60%
233%
$8,627,000
$4,500,100
$1,186,500
92%
279%
9
Rockland Trust Co.
301 Grove St., Worcester 01605
508-926-8813 • rocklandtrust.com
16
32
14
-50%
129%
$4,953,500
$16,885,500
$9,131,700
-71%
85%
12
Webster Five Cents Savings Bank
136 Thompson Road, Webster 01570
800-696-9401 • web5.com
15
4
1
275%
300%
$2,780,600
$492,500
$35,300
465%
1,295%
13
Berkshire Bank
303 Turnpike Road, Westborough 01581
508-366-4750 • berkshirebank.com
13
24
15
-46%
60%
$9,537,800
$17,384,300
$10,866,000
-45%
60%
13
Citizens Bank NA
34 Main St., Natick 01760
508-653-5100 • citizensbank.com
13
14
16
-7%
-13%
$6,887,900
$16,696,900
$11,654,000
-59%
43%
15
Bank of America
306 Turnpike Road, Westborough 01581
508-366-1780 • bankofamerica.com
12
4
3
200%
33%
$5,387,500
$462,600
$2,282,600
1,065%
-80%
15
Workers Credit Union
881 Merriam Ave., Leominster 01453
800-221-4020 • wcu.com
12
9
2
33%
350%
$1,041,000
$1,187,200
$75,000
-12%
1,483%
17
Avidia Bank
42 Main St., Hudson 01749
978-562-2222 • avidiabank.com
11
12
6
-8%
100%
$4,696,500
$6,171,500
$2,015,000
-24%
206%
18
Cornerstone Bank
230 Park Ave., Worcester 01609
508-421-8070 • cornerstonebank.com
9
4
6
125%
-33%
$1,497,200
$336,000
$1,475,500
346%
-77%
Source: U.S. Small Business Administration. Notes: The SBA fiscal year runs from Oct. 1 to Sept. 30. List includes only lenders with at least one branch in Central
Mass. Cancelled loans are not included.
(1) 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: Heide Martin, hmartin@nebusinessmedia.com
Eastern Bank,
Natick $30,625,300
Salem Five Cents
Savings Bank,
Sudbury $10,444,400
TD Bank,
Worcester $9,611,700
Berkshire Bank,
Westborough $9,537,800
Leader Bank NA,
Holden $8,627,000
Northern Bank &
Trust, Littleton $8,235,500
Needham Bank,
Ashland $7,394,700
Citizens Bank NA,
Natick $6,887,900
Bank of America,
Westborough $5,387,500
Enterprise Bank
& Trust Co.,
Leominster $5,200,500
Rockland Trust
Co., Worcester $4,953,500
Avidia Bank,
Hudson $4,696,500
Middlesex
Savings Bank,
Natick $4,642,600
Webster Five
Cents Savings
Bank,
Webster $2,780,600
Bristol County
Savings Bank,
Franklin $2,664,700
St. Mary's
Credit
Union,
Marlborough $2,638,900
Santander Bank
NA, Worcester $1,683,100
Cornerstone Bank,
Worcester $1,497,200
Alternative
ranking: SBA
lenders, by total
amount loaned
Lender Amount
of loans
FY 2022
