16 Worcester Business Journal • Book Of Lists 2015 www.wbjournal.com
Top SBA lenders in Central Mass. *
Ranked by total amount of loans issued in Massachusetts, FY 2014 (Oct. 1, 2013 – Sept. 30, 2014)
Name
Amount of loans FY 2014/
Amount of loans FY 2013
% increase or decrease
in amount of loans
No. of loans FY 2014/
No. of loans FY 2013
% increase or decrease
in number of loans
1
Eastern Bank
2 South Ave., Natick 01760
508-655-4101 • www.easternbank.com
$37,073,000
$22,259,000
67%
672
431
56%
2
Rockland Trust Co.
221 Main St. , Milford 01757
508-478-7000 • www.rocklandtrust.com
$16,427,600
$10,052,900
63%
109
61
79%
3
Santander Bank NA **
446 Main St., Worcester 01608
508-890-6810 • www.santanderbank.com
$15,442,700
$11,654,800 ***
33%
121
104 ***
16%
4
TD Bank
295 Park Ave., Worcester 01609
508-752-2584 • www.tdbank.com
$13,209,200
$11,108,200
19%
63
55
15%
5
Avidia Bank
23 Maple Ave., Shrewsbury 01545
508-845-6244 • www.avidiabank.com
$9,268,000
$5,905,000
57%
10
7
43%
6
Salem Five Cents Savings Bank
19 Concord Rd., Sudbury 01776
800-850-8000 • www.salemfive.com
$8,861,400
$5,737,300
54%
27
13
108%
7
People's United Bank
491 Shrewsbury St., Worcester 01604
508-890-7640 • www.peoples.com
$6,401,600
$9,689,400
-34%
14
29
-52%
8
Citizens Bank
303 Worcester Rd., Framingham 01701
508-879-6000 • www.citizensbank.com
$6,268,000
$1,353,000
363%
79
16
394%
9
MutualOne Bank
828 Concord St., Framingham 01701
508-820-4000 • www.mutualone.com
$6,051,700
$2,519,800
140%
28
18
56%
10
Enterprise Bank & Trust Co.
4 Central St., Leominster 01453
978-534-7400 • www.enterprisebanking.com
$4,801,000
$4,952,000
-3%
16
23
-30%
11
Cambridge Savings Bank
145 Great Rd., Acton 01720
617-864-8700 • www.cambridgesavings.com
$4,558,600
$13,685,300
-67%
49
52
-6%
12
Bristol County Savings Bank
375 W. Central St., Franklin 02038
508-528-2666 • www.bristolcountysavings.com
$4,348,000
$250,000
1,639%
26
3
767%
13
Middlesex Savings Bank
6 Main St., Natick 01760
508-653-0300 • www.middlesexbank.com
$3,681,200
$2,940,000
25%
18
13
38%
14
Charles River Bank
70 Main St., Medway 02053
508-533-8661 • www.charlesriverbank.com
$3,240,000
$339,000
856%
9
5
80%
15
Commerce Bank & Trust Co.
386 Main St., Worcester 01608
508-797-6842 • www.bankatcommerce.com
$2,723,400
$1,439,100
89%
39
26
50%
16
UniBank for Savings
49 Church St., Whitinsville 01588
508-234-8112 • www.unibank.com
$2,457,000
$2,922,400
-16%
36
27
33%
17
Berkshire Bank
303 Turnpike Rd., Westborough 01581
800-773-5601 • www.berkshirebank.com
$2,402,600
$114,000
2,008%
28
3
833%
18
Massachusetts Business Development Corp. ****
89 Shrewsbury St., Ste. 300, Worcester 01604
508-612-5661 • www.bdcnewengland.com
$2,000,000
$700,000
186%
2
1
100%
19
Workers' Credit Union
145 Main St., Lancaster 01523
978-345-1021 • www.wcu.com
$1,967,100
$508,800
287%
25
6
317%
Source: U.S. Small Business Administration, lender websites and the FDIC website at www.fdic.gov. Note: The SBA's fiscal year runs from Oct. 1 to Sept. 30 each year.
* Lenders listed are only for SBA 7(a) loans, as their lending eligibility criteria are broader than those of other types of loans such as the 504 Loan Program. For banks with multiple Central Mass. locations, address used was closest to Worcester or
a lending branch.
** Previously Sovereign Bank NA
*** For Sovereign Bank NA
**** Doing business as BDC Capital
- Compiled by: Roger Magnus and Heide Martin, rmagnus@nebusinessmedia.com
