14 Worcester Business Journal | Book of Lists 2024 | wbjournal.com
F O C U S B A N K I N G & F I N A N C E
Most frequent SBA 7(a) lenders
Ranked by total number of loans, then amount of loans, issued in Massachusetts in fiscal year 2023
Lender
No. of loans
FY 2023/
FY 2022/
FY 2021
% change in no. of loans
FY 2022 to FY 2023/
FY 2021 to FY 2022
Amount of loans
FY 2023/
FY 2022/
FY 2021
% change in amount of loans
FY 2022 to FY 2023/
FY 2021 to FY 2022
1
Eastern Bank
2 South Ave., Natick 01760
508-655-4101 • easternbank.com
221
227
175
-3%
30%
$37,891,300
$29,276,500
$33,331,800
29%
-12%
2
TD Bank
295 Park Ave., Worcester 01609
508-752-2584 • tdbank.com
189
73
59
159%
24%
$23,564,000
$7,398,700
$14,937,200
218%
-50%
3
Needham Bank
41 Front St., Ashland 01721
508-881-1088 • needhambank.com
49
55
28
-11%
96%
$5,672,100
$7,394,700
$8,165,000
-23%
-9%
4
Salem Five Cents Savings Bank
19 Concord Road, Sudbury 01776
978-579-0592 • salemfive.com
44
29
21
52%
38%
$7,072,000
$8,944,400
$7,667,500
-21%
17%
5
St. Mary's Credit Union
46 Lizotte Drive, Marlborough 01752
508-490-8000 • stmaryscu.org
44
39
28
13%
39%
$3,382,500
$2,638,900
$1,840,900
28%
43%
6
Bank of America NA
306 Turnpike Road, Westborough 01581
508-366-1780 • bankofamerica.com
41
12
3
242%
300%
$11,942,100
$5,387,600
$312,600
122%
1,623%
7
M&T Bank
120 Front St., Worcester 01608
508-890-5199 • mtb.com
35
5
10
600%
-50%
$6,807,800
$440,000
$4,798,300
1,447%
-91%
8
Leader Bank NA
61 Boyden Road, Suite 2, Holden 01520
781-544-2569 • leaderbank.com
28
16
39
75%
-59%
$7,863,800
$8,627,000
$4,150,100
-9%
108%
9
Rockland Trust Co.
301 Grove St., Worcester 01605
508-926-8813 • rocklandtrust.com
22
15
32
47%
-53%
$11,184,100
$4,253,500
$16,885,500
163%
-75%
10
UniBank for Savings
49 Church St., Whitinsville 01588
508-234-8112 • unibank.com
21
1
5
2,000%
-80%
$1,673,400
$125,000
$237,700
1,239%
-47%
11
Webster Five Cents Savings Bank
35 Millbury St., Auburn 01501
800-696-9401 • web5.com
16
15
4
7%
275%
$3,667,000
$2,780,600
$492,500
32%
465%
12
Santander Bank NA
51 Gold Star Blvd., Worcester 01605
508-421-9701 • santanderbank.com
16
32
1
-50%
3,100%
$1,218,600
$1,683,100
$380,000
-28%
343%
13
Bristol County Savings Bank
375 W. Central St., Franklin 02038
508-528-2666 • bristolcountysavings.com
14
17
17
-18%
0%
$828,500
$2,664,700
$3,425,000
-69%
-22%
14
Berkshire Bank
11 Park Ave., Worcester 01605
508-797-6972 • berkshirebank.com
12
13
24
-8%
-46%
$7,170,000
$9,537,800
$17,384,300
-25%
-45%
15
Avidia Bank
42 Main St., Hudson 01749
978-562-2222 • avidiabank.com
9
11
12
-18%
-8%
$6,265,300
$4,696,500
$6,171,500
33%
-24%
16
Enterprise Bank & Trust Co.
65 Main St., Leominster 01453
978-534-7400 • enterprisebanking.com
9
15
9
-40%
67%
$2,026,000
$4,600,500
$2,607,000
-56%
76%
17
Citizens Bank NA
34 Main St., Natick 01760
508-653-5100 • citizensbank.com
7
12
13
-42%
-8%
$8,411,600
$5,492,900
$16,426,900
53%
-67%
18
Middlesex Savings Bank
6 Main St., Natick 01760
877-463-6287 • middlesexbank.com
7
8
0
-13%
0%
$2,032,000
$4,642,600
$0
-56%
0%
19
JPMorgan Chase Bank NA
81 Gold Star Blvd., Worcester 01606
508-926-6920 • chase.com
6
1
0
500%
0%
$1,243,000
$150,000
N/A
729%
N/A
20
Dean Bank
21 Main St., Franklin 02038
508-528-0088 • deanbank.com
6
8
3
-25%
167%
$960,000
$864,400
$510,000
11%
69%
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. Lenders listed are for SBA 7(a)
loans; eligibility criteria are broader than those of other types of loans such as 504 loans. Canceled loans are not included.
-Compiled by: Heide Martin, hmartin@nebusinessmedia.com
