GoSBA’s 50 Best Boston SBA Lenders In 2020

 

The U.S. Small Business Administration (SBA) Boston District Office serves 14 counties which have a combined population base of nearly 6.9 million residents. Boston possesses a diverse and prosperous economic base as it is a known for its business, finance, high-technology, tourism, medicine, education, fishing, and publishing.

 

Finding the best and cheapest business loans has always been a hassle, so we make it easier by comparing all the best SBA lenders in Boston for you. After reading our analysis, please click apply now and we will able to match you with the best SBA loan providers in Boston.

 

GoSBA Loans is proud to announce the 2020, top 50 SBA banks providing SBA loans in Boston. As a strong city for small business entrepreneurs, Boston SBA loan providers financed 1,494 businesses valued at $337,540,242 in the FY of 2019.

 

One of the biggest challenges that small businesses face is access to affordable financing. Top lenders signing SBA-backed loans in Boston include some of the larger banks like Eastern Bank, as well as some smaller players, including Northeast Bank and Five Star Bank. Unfortunately, these banks have some of the strictest underwriting criteria. Most small businesses are better off speaking with smaller and more aggressive SBA lenders in Boston. Applicants that apply for an SBA loan with GoSBA loans benefit from automatic circulation of their loan application to 33 of the 100 top Boston SBA lenders. Here is our GoSBA’s official ranking for the 50 Best Boston SBA Lenders In 2020.

 

RANK	BANK	LOANS FUNDED	VOLUME FUNDED ($)
1	Eastern Bank	415	$41,690,900
2	Live Oak Banking Company	19	$26,476,800
3	Webster Bank, National Association	95	$23,826,300
4	Citizens Bank, National Association	53	$20,894,642
5	Salem Five Cents Savings Bank	39	$15,433,400
6	Northern Bank and Trust Company	23	$11,797,800
7	TD Bank, National Association	126	$9,707,300
8	Newtek Small Business Finance, Inc.	12	$8,451,300
9	Leader Bank, National Association	50	$8,439,100
10	Atlantic Capital Bank, National Association	10	$8,232,000
11	Celtic Bank Corporation	15	$7,137,500
12	Rockland Trust Company	18	$7,068,000
13	Cambridge Savings Bank	47	$6,851,000
14	Customers Bank	6	$6,761,500
15	Santander Bank, National Association	49	$6,152,700
16	Avidia Bank	13	$5,857,600
17	Harvest Small Business Finance, LLC	4	$5,658,100
18	Berkshire Bank	15	$5,607,500
19	Bank of America, National Association	12	$5,014,600
20	Citibank, N.A.	2	$4,500,000
21	Patriot Bank, National Association	5	$4,050,000
22	Beverly Bank	19	$3,932,000
23	UniBank for Savings	29	$3,855,800
24	Cape Cod Five Cents Savings Bank	16	$3,854,500
25	Needham Bank	16	$3,840,300
26	Stearns Bank National Association	11	$3,753,400
27	Webster Five Cents Savings Bank	17	$3,583,400
28	First Home Bank	18	$3,383,000
29	Wells Fargo Bank, National Association	8	$3,354,400
30	Capital One, National Association	1	$3,250,000
31	East Boston Savings Bank	4	$3,037,000
32	Independence Bank	21	$2,950,000
33	Cornerstone Bank	18	$2,862,600
34	United Midwest Savings Bank, National Association	10	$2,830,000
35	Enterprise Bank and Trust Company	9	$2,676,700
36	Bristol County Savings Bank	19	$2,417,300
37	Ameris Bank	5	$2,237,000
38	Mechanics Cooperative Bank	6	$2,100,000
39	People’s United Bank, National Association	14	$2,065,000
40	Savoy Bank	1	$2,040,000
41	IncredibleBank	1	$1,910,000
42	South Shore Bank	10	$1,877,000
43	Northeast Bank	2	$1,815,000
44	Five Star Bank	6	$1,735,000
45	The Provident Bank	10	$1,659,600
46	Century Bank and Trust Company	17	$1,548,000
47	St. Mary’s CU	29	$1,536,300
48	Crestmark Bank	2	$1,410,000
49	Primary Bank	3	$1,275,000
50	Middlesex Savings Bank	4	$1,165,000