Rhode Island · Education
SBA loans for education in Rhode Island
62 loans worth $13.7M approved since FY2010 for educational services projects located in Rhode Island.
Loans
62
Approved
$13.7M
Median loan
$55,000
-63% vs sector nationally
Median rate
6.00%
Jobs supported
403
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.
Lenders
Who lends to education in Rhode Island
| Lender | Loans | Approved | Share |
|---|---|---|---|
| Independence Bank | 2 | $2.8M | |
| Newtek Small Business Finance, Inc. | 1 | $2.8M | |
| Webster Bank | 9 | $1.5M | |
| Beacon Bank and Trust | 7 | $1.2M | |
| Ocean State Business Development Authority | 2 | $1.0M | |
| Wells Fargo Bank | 2 | $714K | |
| Citizens Bank | 6 | $580K | |
| New England Certified Development Corporation | 2 | $505K |
Detail
Which industries inside the sector
All SBA lending in Rhode Island
5,624 loans across every sector.
Education nationally
15,349 loans across all states.
How SBA 7(a) works
Eligibility, caps, fees, and the timeline.
Common questions
- How many SBA loans go to education businesses in Rhode Island?
- 62 SBA loans totalling $13,711,000 have been approved for educational services projects in Rhode Island since FY2010.
- Which lenders finance education in Rhode Island?
- The most active by dollars approved are Independence Bank, Newtek Small Business Finance, Inc., Webster Bank, Beacon Bank and Trust. Several are national lenders with no local branch - SBA lending crosses state lines freely.
- What is a typical loan size for education in Rhode Island?
- The median approval is $55,000, 63% below the national median for this sector ($150,000).
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