Best SBA Lenders in Worcester, MA (2026)
2025 FOIA data: top lenders, rates & industries for Worcester SBA loans
SBA Loans in Worcester, Massachusetts
Looking for an SBA loan in Worcester, Massachusetts? Based on 2025 FOIA data, 47 SBA 7(a) loans were funded in Worcester totaling $15.3M, supporting an estimated 329 jobs. With 21 active lenders competing for business in the Worcester market, comparing offers is essential to getting the best rate and terms.
The average SBA loan in Worcester is $325K at an average rate of 9.94%. The top lender in Worcester is Brookline Bank, a Division of Beacon Bank and Trust, with the most-funded industry being Drywall and Insulation Contractors. See all Massachusetts SBA lenders for statewide rankings.
SBA Loans in Worcester by Business Type
Whether you’re starting a new business in Worcester, buying an existing one, or expanding your current operation, here’s how SBA lending breaks down in your market:
Startups represent 31% of SBA loans in Worcester (12 loans funded in 2025), which tells you how comfortable local lenders are funding new ventures without established operating history. Business acquisitions account for 41% (5 loans) — if you’re looking to buy a business in Worcester, this is a proven use case for SBA financing. Existing businesses make up 24% and typically receive the most favorable terms.
Top SBA Lenders in Worcester, MA (2025 Data)
The table below ranks every SBA 7(a) lender that funded loans to Worcester businesses in 2025, ordered by total dollar volume. This data comes directly from SBA FOIA records:
| # | Lender | Volume | Loans | Avg Rate |
|---|---|---|---|---|
| 1 | Brookline Bank, a Division of Beacon Bank and Trust | $3.9M | 1 | 9.5% |
| 2 | The Huntington National Bank | $2.5M | 8 | 10.16% |
| 3 | Citizens Bank | $1.8M | 1 | 8.75% |
| 4 | Rockland Trust Company | $855K | 2 | 8.25% |
| 5 | TD Bank, National Association | $796K | 9 | 10.62% |
| 6 | Milestone Bank | $762K | 1 | 10.25% |
| 7 | JPMorgan Chase Bank, National Association | $700K | 1 | 7.5% |
| 8 | Northeast Bank | $546K | 4 | 10.56% |
| 9 | Webster Bank National Association | $500K | 1 | 9.5% |
| 10 | Live Oak Banking Company | $495K | 1 | 9% |
The top lenders in Worcester have direct experience with local businesses and understand the Worcester market — commercial real estate values, local industry dynamics, and regional economic conditions. Pay attention to the “Avg Rate” column, as rates vary significantly between lenders. A 0.5-1.0% rate difference on a $500K loan translates to $15,000-$30,000 in savings over the life of the loan.
Don’t limit your search to banks listed above — many national SBA lenders also fund loans in Worcester and may offer better rates. An SBA loan broker like GoSBA gives you access to both local and national lenders with one application.
Get Matched with the Best SBA Lender in Worcester
One 5-minute application. 21+ lenders competing for your deal. GoSBA matches you to the best fit — free, no obligation.
Top Industries Funded in Worcester
These are the industries that received the most SBA 7(a) funding in Worcester in 2025. If your business is in one of these sectors, lenders are already familiar with your business model and may offer faster approvals:
| Industry | Loans | Volume |
|---|---|---|
| Drywall and Insulation Contractors | 3 | $4.1M |
| Other Individual and Family Services | 1 | $1.8M |
| Advertising Agencies | 2 | $1.6M |
| Tax Preparation Services | 2 | $855K |
| Limited-Service Restaurants | 2 | $767K |
| Snack and Nonalcoholic Beverage Bars | 4 | $717K |
| Sheet Metal Work Manufacturing | 1 | $500K |
| Automotive Oil Change and Lubrication Shops | 1 | $495K |
| Child Day Care Services | 2 | $411K |
| Offices of Mental Health Practitioners (except Physicians) | 2 | $385K |
Lenders with experience funding your specific industry in Worcester understand the local competitive landscape, typical revenue ranges, and seasonal patterns. This familiarity often translates to faster underwriting and more competitive terms. If your industry doesn’t appear above, SBA loans are available for nearly every legal business type — an SBA broker can match you with lenders who specialize in your sector.
How to Get an SBA Loan in Worcester
Option 1: Apply directly to one of the top Worcester lenders listed above. You’ll receive a single quote from one bank.
Option 2: Use an SBA loan broker (recommended). GoSBA Loans submits your application to multiple Worcester-active lenders and national SBA lenders simultaneously. More offers means better rates, faster approvals, and zero cost to you — lenders pay the broker fee.
Frequently Asked Questions
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Data from SBA 7(a) FOIA records, Calendar Year 2025. Visit sba.gov for official info.
