SBA 7(a) lenders in New London, CT

Approvals in SBA fiscal years 2008–2025. Source data as of 2026-06-30.

Lenders

61 institutions have SBA 7(a) loans on record in New London, together $138.3M across 389 loans. Manufacturers and Traders Trust Company is the largest, with 9% of approvals.

Showing

Yearsto

Rank	Lender	Loans	Approved	Share	Loss rate
1	Manufacturers and Traders Trust Company	40	$12.2M	8.8%	18.76%
2	Fulton Bank, National Association	5	$11.9M	8.6%	0.00%
3	Chelsea Groton Bank	59	$9.9M	7.1%	0.00%
4	Webster Bank National Association	23	$9.6M	6.9%	13.42%
5	Live Oak Banking Company	9	$6.2M	4.5%	0.00%
6	Newtek Small Business Finance, Inc.	6	$5.7M	4.1%	0.00%
7	Avidia Bank	3	$5.5M	4.0%	6.14%
8	Columbia Bank	3	$5.0M	3.6%	0.00%
9	The MINT National Bank	1	$5.0M	3.6%	0.00%
10	Bristol County Savings Bank	5	$4.5M	3.3%	0.00%
11	Hanover Community Bank	2	$4.5M	3.2%	0.00%
12	Citizens Bank, National Association	44	$3.7M	2.7%	18.25%
13	Wells Fargo Bank National Association	6	$3.5M	2.6%	7.36%
14	Celtic Bank Corporation	3	$3.4M	2.4%	1.40%
15	TD Bank, National Association	10	$3.3M	2.4%	0.51%
16	Liberty Bank	37	$3.2M	2.3%	4.42%
17	Shoreham Bank	6	$3.0M	2.2%	0.00%
18	Hana Bank USA National Association	1	$3.0M	2.2%	0.00%
19	PCB Bank	1	$2.8M	2.0%	0.00%
20	United Midwest Savings Bank National Association	2	$2.6M	1.9%	0.00%
21	KeyBank National Association	9	$2.0M	1.5%	0.00%
22	Beacon Bank and Trust	20	$2.0M	1.5%	0.00%
23	First Bank	1	$2.0M	1.4%	0.00%
24	The Washington Trust Company of Westerly	10	$1.7M	1.2%	57.41%
25	Ascend Bank	1	$1.7M	1.2%	0.00%
26	First National Bank of Pennsylvania	1	$1.7M	1.2%	0.00%
27	PNC Bank, National Association	2	$1.6M	1.2%	0.00%
28	JPMorgan Chase Bank, National Association	4	$1.5M	1.1%	0.00%
29	Newtek Bank, National Association	3	$1.3M	1.0%	0.00%
30	Byline Bank	1	$1.3M	0.9%	0.00%
31	Essex Bank	2	$1.3M	0.9%	0.00%
32	Community Investment Corporation	8	$975K	0.7%	15.47%
33	Bankwell Bank	2	$950K	0.7%	0.00%
34	Peapack Private Bank and Trust	1	$950K	0.7%	0.00%
35	Meridian Bank	1	$850K	0.6%	0.00%
36	Northeast Bank	4	$815K	0.6%	0.00%
37	Jewett City Savings Bank	10	$740K	0.5%	0.00%
38	Metro City Bank	1	$660K	0.5%	0.00%
39	Westfield Bank	4	$580K	0.4%	0.00%
40	Bank of America, National Association	5	$540K	0.4%	0.00%
41	TowneBank	1	$496K	0.4%	0.00%
42	Westerly Community CU	5	$419K	0.3%	5.97%
43	Business Loan Center, LLC	1	$418K	0.3%	40.28%
44	Santander Bank, National Association	6	$372K	0.3%	0.00%
45	The Huntington National Bank	2	$361K	0.3%	0.00%
46	The Bank of Princeton	1	$350K	0.3%	0.00%
47	Evolve Bank and Trust	1	$315K	0.2%	0.00%
48	Stearns Bank National Association	1	$294K	0.2%	0.00%
49	Everett Co-operative Bank	1	$250K	0.2%	0.00%
50	bankESB	2	$250K	0.2%	0.00%
51	Savings Institute Bank and Trust Company	1	$195K	0.1%	0.00%
52	The Bancorp Bank National Association	1	$166K	0.1%	0.00%
53	Navy FCU	1	$160K	0.1%	0.00%
54	Poppy Bank	1	$150K	0.1%	0.00%
55	Salem Five Cents Savings Bank	1	$150K	0.1%	0.00%
56	Happen Bank	1	$100K	0.1%	0.00%
57	MutualOne Bank	1	$85K	0.1%	0.00%
58	Independence Bank	2	$50K	0.0%	49.16%
59	Charter Oak FCU	1	$40K	0.0%	0.00%
60	Fall River Five Cents Savings Bank d/b/a BankFive	1	$25K	0.0%	0.00%
61	VelocitySBA, LLC	1	$13K	0.0%	0.00%

Loss rates cover every approval year on record together. SBA 7(a) losses peak two to four years after approval, so a lender whose lending is mostly recent will show a low rate because its loans have not aged yet, not because they are performing better.

What the money went into

Rank	Industry	Loans	Approved	Share of county
1	Accommodation & food services	68	$50.5M	36.5%
2	Retail trade	59	$18.0M	13.0%
3	Construction	45	$8.6M	6.2%
4	Professional & technical services	37	$8.6M	6.2%
5	Health care & social assistance	34	$8.5M	6.2%
6	Manufacturing	18	$7.7M	5.6%
7	Finance & insurance	7	$7.2M	5.2%
8	Wholesale trade	14	$6.2M	4.5%
9	Retail trade	29	$5.1M	3.7%
10	Administrative & waste services	17	$4.8M	3.5%
11	Other services	20	$4.8M	3.5%
12	Manufacturing	11	$3.1M	2.2%
13	Arts, entertainment & recreation	9	$1.7M	1.3%
14	Real estate & leasing	7	$1.3M	0.9%
15	Information	2	$950K	0.7%
16	Educational services	4	$463K	0.3%
17	Agriculture, forestry & fishing	1	$250K	0.2%
18	Manufacturing	3	$216K	0.2%
19	Utilities	2	$200K	0.1%
20	Transportation & warehousing	2	$36K	0.0%

Industry is the borrower’s NAICS sector as recorded by SBA at approval, grouped to the two-digit sector.

About this data

Built from the U.S. Small Business Administration’s 7(a) FOIA data release, a public record covering approvals from fiscal year 2008 onward and refreshed each quarter. SBA fiscal years end 30 September, so the most recent year is partial. Figures are approvals, not outstanding balances, and SBA attributes each loan to the institution that holds it today rather than the one that originated it — an acquisitive lender therefore shows books it did not write.