GoSBA’s 50 Best Boston SBA Lenders In 2020

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

 

 

Ishan Jetley

Ishan Jetley is the founder and managing director of GoSBALoans. Ishan has helped fund more than 400 businesses. He has helped businesses raise $150 million in SBA working capital, inventory and commercial property loans.

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