SBA 7(a) lenders in Somerset, ME
Approvals in SBA fiscal years 2008–2026. Source data as of 2026-06-30.
Lenders
20 institutions have SBA 7(a) loans on record in Somerset, together $29.6M across 148 loans. Manufacturers and Traders Trust Company is the largest, with 17% of approvals.
| Rank | Lender | Loans | Approved | Share | Loss rate |
|---|---|---|---|---|---|
| 1 | Manufacturers and Traders Trust Company | 21 | $5.1M | 17.2% | 0.19% |
| 2 | Port 51 Lending LLC | 1 | $3.3M | 11.1% | 0.00% |
| 3 | Bangor Savings Bank | 24 | $3.1M | 10.4% | 0.00% |
| 4 | Machias Savings Bank | 4 | $2.7M | 9.0% | 0.00% |
| 5 | TD Bank, National Association | 21 | $2.5M | 8.6% | 0.00% |
| 6 | Customers Bank | 2 | $2.5M | 8.5% | 0.00% |
| 7 | Skowhegan Savings Bank | 7 | $2.2M | 7.6% | 0.00% |
| 8 | Franklin Savings Bank | 26 | $2.2M | 7.4% | 0.00% |
| 9 | Camden National Bank | 12 | $1.4M | 4.6% | 4.10% |
| 10 | Bar Harbor Bank & Trust | 6 | $1.1M | 3.8% | 0.00% |
| 11 | Katahdin Trust Company | 10 | $1.0M | 3.5% | 4.31% |
| 12 | KeyBank National Association | 3 | $889K | 3.0% | 0.00% |
| 13 | Newtek Small Business Finance, Inc. | 1 | $650K | 2.2% | 0.00% |
| 14 | Eastern Maine Development Corporation | 2 | $290K | 1.0% | 0.00% |
| 15 | Northeast Bank | 3 | $257K | 0.9% | 0.00% |
| 16 | Celtic Bank Corporation | 1 | $150K | 0.5% | 32.88% |
| 17 | Coastal Enterprises Inc. | 1 | $100K | 0.3% | 0.00% |
| 18 | CenTrust Bank, A Division of SmartBiz Bank National Association | 1 | $85K | 0.3% | 0.00% |
| 19 | Maine Community Bank | 1 | $30K | 0.1% | 0.00% |
| 20 | VelocitySBA, LLC | 1 | $5K | 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 | Wholesale trade | 9 | $4.6M | 15.6% |
| 2 | Accommodation & food services | 16 | $4.2M | 14.1% |
| 3 | Retail trade | 16 | $3.6M | 12.0% |
| 4 | Information | 3 | $2.5M | 8.5% |
| 5 | Manufacturing | 12 | $2.3M | 7.9% |
| 6 | Real estate & leasing | 7 | $2.1M | 7.0% |
| 7 | Retail trade | 11 | $2.0M | 6.9% |
| 8 | Transportation & warehousing | 11 | $1.9M | 6.4% |
| 9 | Professional & technical services | 7 | $1.3M | 4.4% |
| 10 | Agriculture, forestry & fishing | 13 | $1.2M | 4.1% |
| 11 | Other services | 10 | $873K | 2.9% |
| 12 | Construction | 10 | $696K | 2.3% |
| 13 | Health care & social assistance | 7 | $669K | 2.3% |
| 14 | Arts, entertainment & recreation | 4 | $637K | 2.2% |
| 15 | Manufacturing | 5 | $488K | 1.6% |
| 16 | Manufacturing | 3 | $225K | 0.8% |
| 17 | Educational services | 3 | $207K | 0.7% |
| 18 | Administrative & waste services | 1 | $76K | 0.3% |
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.