
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 |