Best Massachusetts SBA Lenders & Rates (2026)
2025 FOIA data: top lenders, rates, industries & loan types in Massachusetts
SBA Loans in Massachusetts
Massachusetts businesses received $596.0M in SBA 7(a) loan approvals across 2,038 businesses in 2025, supporting 16,626 jobs. With 138 active SBA lenders competing for business in Massachusetts, comparing offers is essential — rates vary significantly by lender.
The average SBA loan in Massachusetts is $292K at 9.97%, which is 0.35% below the national average of 10.32%. The top lender in Massachusetts is Eastern Bank, with the most-funded industry being Full-Service Restaurants.
SBA Loans in Massachusetts by Business Type
Whether you’re starting a business, buying one, or expanding an existing operation in Massachusetts, here’s how SBA lending breaks down:
Startups represent 13% of Massachusetts SBA loans (181 loans totaling $76.5M). Business acquisitions (change of ownership) account for 25% (151 loans, $146.1M). Existing businesses make up the largest share at 49% (1333 loans). If you’re buying a business in Massachusetts, acquisitions are a well-established use case for SBA 7(a) loans.
Massachusetts vs. National Average
How does Massachusetts’s SBA lending market compare to the national average in 2025?
Massachusetts9.97%
National Avg10.32%
✅ Massachusetts’s avg rate is 0.35% lower than the national average
Massachusetts$292K
National Avg$478K
Massachusetts’s avg loan is 0.6x the national average
A rate lower than the national average of 10.32% is significant context for Massachusetts borrowers. Individual rates depend on your credit profile, deal structure, loan size, and the specific lender you work with — which is why comparing multiple offers from different banks is consistently the best strategy to get the lowest possible rate on your SBA loan.
Top SBA Lenders in Massachusetts (2025 Data)
The table below ranks every SBA 7(a) lender active in Massachusetts in 2025 by total dollar volume approved. This data comes directly from SBA FOIA records and represents actual funded loans — not pre-qualifications or applications received.
| # | Lender | Volume | Loans | Avg Rate |
|---|---|---|---|---|
| 1 | Eastern Bank | $56.0M | 323 | 10.14% |
| 2 | Live Oak Banking Company | $53.3M | 41 | 9.32% |
| 3 | Rockland Trust Company | $43.0M | 149 | 8.06% |
| 4 | Newtek Bank, National Association | $33.9M | 84 | 10.98% |
| 5 | TD Bank, National Association | $27.3M | 241 | 10.66% |
| 6 | Brookline Bank, a Division of Beacon Bank and Trust | $25.1M | 55 | 9.39% |
| 7 | Leader Bank, National Association | $23.0M | 30 | 9.43% |
| 8 | Northeast Bank | $22.9M | 156 | 10.82% |
| 9 | The Huntington National Bank | $18.1M | 38 | 9.7% |
| 10 | Northwest Bank | $16.0M | 11 | 9.73% |
| 11 | Manufacturers and Traders Trust Company | $14.8M | 141 | 11.44% |
| 12 | Salem Five Cents Savings Bank | $14.1M | 75 | 9.03% |
| 13 | Citizens Bank, National Association | $13.4M | 29 | 10.05% |
| 14 | Bank of America, National Association | $11.4M | 28 | 7.65% |
| 15 | Readycap Lending, LLC | $11.0M | 41 | 12.26% |
Pay close attention to the “Avg Rate” column — rates vary significantly between lenders operating in the same state. The spread between the lowest and highest rate in this table can represent tens of thousands of dollars over the life of your loan. The top lenders in Massachusetts have funded the most deals locally, meaning their loan officers understand Massachusetts’s commercial real estate values, industry mix, and economic conditions. This familiarity typically translates into faster underwriting and more competitive terms.
However, don’t limit your search to local banks alone. Many of the top national SBA lenders fund loans across all 50 states and may offer better rates or more experience with your specific industry. An SBA loan broker like GoSBA gives you access to both Massachusetts-based lenders and national lenders with a single application — ensuring you get the most competitive offer available.
Get Matched with the Best SBA Lender in Massachusetts
One 5-minute application. 138 lenders competing for your deal. GoSBA matches you to the best fit — free, no obligation.
Top Industries Funded in Massachusetts
SBA lending in Massachusetts reflects the state’s economic profile and business formation trends. The table below shows which industries received the most SBA 7(a) funding in Massachusetts in 2025, ranked by total dollar volume:
| Industry | Loans | Volume |
|---|---|---|
| Full-Service Restaurants | 112 | $29.4M |
| Limited-Service Restaurants | 78 | $29.0M |
| Offices of Dentists | 17 | $16.5M |
| Plumbing, Heating, and Air-Conditioning Contractors | 40 | $13.6M |
| Fitness and Recreational Sports Centers | 40 | $10.9M |
| Residential Remodelers | 53 | $10.7M |
| Landscaping Services | 60 | $10.4M |
| Site Preparation Contractors | 16 | $9.9M |
| General Automotive Repair | 32 | $9.8M |
| Child Day Care Services | 36 | $9.6M |
| Computer Systems Design Services | 10 | $9.1M |
| Home Health Care Services | 24 | $9.1M |
| Hotels (except Casino Hotels) and Motels | 6 | $9.0M |
| Supermarkets and Other Grocery (except Convenience) Stores | 18 | $8.9M |
| Offices of Certified Public Accountants | 22 | $8.8M |
If your business operates in one of Massachusetts’s top-funded industries, you’re in a strong position. Lenders who have funded dozens of similar businesses in your state understand the unit economics, seasonal revenue patterns, and typical margins for your sector. This familiarity translates into faster approvals, less documentation back-and-forth, and more accurate risk pricing — which typically means better terms for the borrower.
Even if your industry isn’t listed above, SBA 7(a) loans are available for nearly every legal business type. An SBA loan broker can identify which lenders have the most experience with your specific industry.
Top Cities for SBA Loans in Massachusetts
SBA lending activity within Massachusetts is concentrated in major metropolitan areas, but businesses in smaller cities and towns also receive significant funding. The table below shows where in Massachusetts the most SBA 7(a) loans were funded in 2025:
| City | Loans | Volume |
|---|---|---|
| Boston | 82 | $32.4M |
| Brockton | 27 | $18.7M |
| Worcester | 47 | $15.3M |
| Woburn | 28 | $12.9M |
| Framingham | 25 | $11.4M |
| Burlington | 23 | $9.8M |
| Plymouth | 25 | $9.4M |
| Cambridge | 25 | $9.2M |
| East Boston | 9 | $8.8M |
| West Springfield | 16 | $8.1M |
How to Get an SBA Loan in Massachusetts
Option 1: Apply directly to one of the top Massachusetts lenders above. You’ll get a single quote from one bank.
Option 2: Use an SBA loan broker (recommended). GoSBA Loans submits your application to multiple Massachusetts-active lenders simultaneously, creating competition for your deal. Better rates, faster approvals — at no cost to you.
Frequently Asked Questions
How many SBA loans were funded in Massachusetts in 2025?
What is the average SBA loan interest rate in Massachusetts?
Can I get an SBA loan to start a business in Massachusetts?
Who is the top SBA lender in Massachusetts?
What industries get the most SBA loans in Massachusetts?
Ready to Apply for an SBA Loan in Massachusetts?
50+ lenders. One application. Better rates, faster closing. No fees, no obligation.
Data sourced from official SBA 7(a) FOIA loan approval records for Calendar Year 2025, published by the U.S. Small Business Administration. For official information, visit sba.gov.
