SBA data · Rhode Island
SBA lending in Rhode Island
5,624 loans worth $1.62B have been approved for Rhode Island projects since FY2010 - the #43 state by SBA dollars, 0.3% of the national total.
State rank
#43
by dollars approved
Approved
$1.62B
FY2010 onward
Loans
5,624
Median loan
$116,000
-36% vs national
Median 7(a) rate
6.00%
Jobs supported
49,692
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 Rhode Island
Ranked by dollars approved for projects in this state. Ranking is computed from federal data and cannot be purchased.
| # | Lender | Approved in RI | Loans | Avg loan | Share |
|---|---|---|---|---|---|
| 1 | Ocean State Business Development Authority | $198.9M | 370 | $537,514 | |
| 2 | Beacon Bank and Trust | $133.7M | 821 | $162,845 | |
| 3 | Eastern Bank | $125.2M | 666 | $187,931 | |
| 4 | Bay Colony Development Corporation | $113.3M | 198 | $572,338 | |
| 5 | Webster Bank | $91.3M | 248 | $368,087 | |
| 6 | Citizens Bank | $90.9M | 413 | $220,078 | |
| 7 | New England Certified Development Corporation | $82.7M | 182 | $454,352 | |
| 8 | Bristol County Savings Bank | $68.4M | 278 | $246,121 | |
| 9 | Newtek Small Business Finance, Inc. | $65.6M | 72 | $910,565 | |
| 10 | Independence Bank | $44.9M | 131 | $342,672 | |
| 11 | Navigant CU | $38.2M | 210 | $182,013 | |
| 12 | Live Oak Banking Company | $36.9M | 41 | $901,163 |
By sector in Rhode Island
- Restaurants & Hotels771 · $286.4M
- Retail505 · $165.8M
- Construction668 · $137.6M
- Health Care514 · $134.9M
- Professional Services547 · $122.1M
- Wholesale266 · $119.3M
- Other Services550 · $112.2M
- Arts & Recreation176 · $82.6M
- Manufacturing142 · $61.5M
- Administrative & Waste290 · $54.2M
- Real Estate125 · $35.4M
- Finance & Insurance107 · $28.8M
Most-financed industries
Approvals by fiscal year
Gross approval dollars in Rhode Island. The final bar is a partial fiscal year.
Loan sizes in Rhode Island
- Under $50K21%
- $50K - $150K34%
- $150K - $350K24%
- $350K - $1M15%
- $1M - $2M4%
- Over $2M2%
SBA lending in Rhode Island: common questions
- How many SBA loans are approved in Rhode Island?
- 5,624 SBA 7(a) and 504 loans totalling $1,624,625,200 have been approved for projects in Rhode Island since fiscal year 2010, ranking it #43 among states and territories by dollars approved - 0.3% of all SBA lending nationally.
- Which lenders make the most SBA loans in Rhode Island?
- By dollars approved in Rhode Island, the most active lenders are Ocean State Business Development Authority, Beacon Bank and Trust, Eastern Bank, Bay Colony Development Corporation, Webster 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 Rhode Island?
- The median gross approval in Rhode Island is $116,000, 36% below the national median of $180,000. Half of all loans in the state fall between $25,000 and $675,000.
- Do I need to use a lender based in Rhode Island?
- 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 Rhode Island, 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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