Top SBA lenders in Rhode Island

47 lenders approved 284 SBA 7(a) loans worth $92.6M for Rhode Island businesses in FY2025. Live Oak Banking Company leads with 12.1%.

Rhode Island league table, FY2025 ranked by dollars approved · by project location

#	Lender	HQ state	Approved	Loans	Avg loan	Share
1	Live Oak Banking Company	NC	$11.2M	9	$1.2M	12.1%
2	Citizens Bank, National Association	RI	$9.0M	10	$899K	9.7%
3	The Huntington National Bank	OH	$6.5M	12	$540K	7.0%
4	Beacon Bank and Trust	MA	$5.9M	22	$268K	6.4%
5	Eastern Bank	MA	$5.1M	24	$214K	5.5%
6	Bristol County Savings Bank	MA	$5.1M	14	$361K	5.5%
7	Bank Five Nine	WI	$4.5M	1	$4.5M	4.9%
8	Meridian Bank	PA	$4.5M	1	$4.5M	4.8%
9	First Internet Bank of Indiana	IN	$4.2M	4	$1.0M	4.5%
10	BankNewport	RI	$3.9M	63	$62K	4.2%
11	Shoreham Bank	RI	$3.1M	7	$436K	3.3%
12	Readycap Lending, LLC not in CharterBench	NJ	$3.0M	7	$435K	3.3%
13	Rockland Trust Company	MA	$2.8M	7	$405K	3.1%
14	Commonwealth Business Bank	CA	$2.8M	1	$2.8M	3.0%
15	Webster Bank, National Association	CT	$2.2M	9	$248K	2.4%
16	TD Bank, National Association	DE	$1.7M	21	$80K	1.8%
17	Navigant Credit Union	RI	$1.6M	6	$273K	1.8%
18	Truliant Federal Credit Union	NC	$1.4M	1	$1.4M	1.6%
19	The Washington Trust Company, of Westerly	RI	$1.3M	4	$318K	1.4%
20	Bank of America, National Association	NC	$1.0M	2	$508K	1.1%
21	Oconee State Bank	GA	$910K	1	$910K	1.0%
22	Northeast Bank	ME	$905K	8	$113K	1.0%
23	First Bank of the Lake	MO	$874K	2	$437K	0.9%
24	Heritage Bank, Inc.	KY	$836K	2	$418K	0.9%
25	Newtek Bank, National Association	FL	$800K	4	$200K	0.9%

Showing the top 25 of 47 lenders active in Rhode Island.

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Rhode Island SBA 7(a) volume by year

Line	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026 to date
Approved	$37.5M	$90.4M	$53.2M	$59.8M	$63.7M	$92.6M	$38.1M
Loans	129	160	143	176	215	284	125
Active lenders	31	35	38	32	37	47	40

Working Rhode Island?

5 of the lenders shown are headquartered in Rhode Island. See who holds the deposits in Rhode Island, or screen the state’s banks and credit unions by ratio.

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