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SBA data · Maryland
SBA lenders in Maryland
15,222 loans worth $6.02B have been approved for Maryland projects since FY2010 - the #23 state by SBA dollars, 1.2% of the national total.
State rank
#23
by dollars approved
Approved
$6.02B
FY2010 onward
Loans
15,222
Median loan
$142,750
-21% vs national
Median 7(a) rate
7.75%
Jobs supported
177,558
Lender-reported
Source: U.S. Small Business Administration, SBA 7(a) and 504 FOIA data, as of 2026-06-30. Approvals from FY2010 onward. How we calculate this.
Who lends here
The most active SBA lenders in Maryland
Ranked by dollars approved for projects in this state. Ranking is computed from federal data and cannot be purchased.
| # | Lender | Approved in MD | Loans | Avg loan | Share |
|---|---|---|---|---|---|
| 1 | Manufacturers and Traders Trust Company | $760.0M | 5,819 | $130,614 | |
| 2 | Business Finance Group, Inc. | $524.4M | 566 | $926,457 | |
| 3 | Live Oak Banking Company | $372.0M | 272 | $1,367,616 | |
| 4 | Truist Bank | $347.7M | 681 | $510,602 | |
| 5 | Fulton Bank | $213.9M | 262 | $816,497 | |
| 6 | Chesapeake Business Finance Corporation | $192.7M | 154 | $1,251,019 | |
| 7 | Wells Fargo Bank | $179.0M | 678 | $263,992 | |
| 8 | Atlantic Union Bank | $156.2M | 316 | $494,431 | |
| 9 | Hanmi Bank | $136.4M | 141 | $967,274 | |
| 10 | First National Bank of Pennsylvania | $127.8M | 243 | $526,033 | |
| 11 | Beacon Bank and Trust | $106.2M | 96 | $1,106,136 | |
| 12 | Readycap Lending, LLC | $102.3M | 245 | $417,397 |
An SBA 7(a) lender for loans this size
71% of the SBA loans approved in Maryland since FY2010 were under $350,000. SmartBiz makes SBA 7(a) loans up to $500,000. It is shown here as a separate, labelled option, outside the data rankings on this page. You apply on their site - we do not take applications and never see your information.
Check options with SmartBizWe may be paid if you apply through this link. It does not change what we publish, and no lender can buy a place in our rankings. Details.
By sector in Maryland
- Restaurants & Hotels1,826 · $1.07B
- Health Care1,727 · $780.3M
- Professional Services2,348 · $705.4M
- Retail1,220 · $568.4M
- Other Services1,465 · $556.6M
- Construction1,693 · $441.3M
- Wholesale486 · $274.0M
- Arts & Recreation563 · $255.8M
- Administrative & Waste787 · $216.6M
- Real Estate249 · $136.7M
- Transportation545 · $132.2M
- Education341 · $110.4M
- Manufacturing264 · $105.3M
- Finance & Insurance272 · $88.8M
- Information216 · $79.8M
- Agriculture91 · $66.0M
Most-financed industries
Approvals by fiscal year
Gross approval dollars in Maryland. The final bar is a partial fiscal year.
Loan sizes in Maryland
- Under $50K25%
- $50K - $150K25%
- $150K - $350K21%
- $350K - $1M18%
- $1M - $2M6%
- Over $2M4%
SBA lending in Maryland: common questions
- How many SBA loans are approved in Maryland?
- 15,222 SBA 7(a) and 504 loans totalling $6,016,716,800 have been approved for projects in Maryland since fiscal year 2010, ranking it #23 among states and territories by dollars approved - 1.2% of all SBA lending nationally.
- Which lenders make the most SBA loans in Maryland?
- By dollars approved in Maryland, the most active lenders are Manufacturers and Traders Trust Company, Business Finance Group, Inc., Live Oak Banking Company, Truist Bank, Fulton Bank. Volume is not a recommendation - a lender's fit depends on your industry, loan size, and credit profile.
- What is the typical SBA loan size in Maryland?
- The median gross approval in Maryland is $142,750, 21% below the national median of $180,000. Half of all loans in the state fall between $25,000 and $1,020,000.
- Do I need to use a lender based in Maryland?
- No. SBA lenders can and routinely do lend across state lines, and several of the largest national 7(a) lenders have no branch presence at all. The lenders listed on this page are those with the most approved dollars for projects located in Maryland, wherever they are headquartered.
Source: U.S. Small Business Administration, SBA 7(a) and 504 FOIA data, as of 2026-06-30. Approvals from FY2010 onward. How we calculate this.
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