SBA Lenders in Maine
Top lenders ranked by real SBA lending data. See who's most active in Maine across deal count, loan size, and pricing.
What Borrowers Should Know
Maine's median 7(a) spread of P+1.81% is 94 basis points below the national median of P+2.75%, meaning borrowers here pay significantly less interest on SBA loans. This competitive advantage likely stems from Bangor Savings Bank dominating 25.6% of the state's deals (936 of 3,660), which gives them scale to offer tighter pricing.
The top 5 lenders control 2,768 of 3,660 deals (75.6% market share), with Bangor Savings Bank alone handling more deals than the bottom 59 lenders combined. This concentration means most Maine borrowers work with the same handful of banks, which simplifies the lending landscape but leaves less room for alternative lenders to compete on terms.
Maine's average deal size of $270,269 is relatively modest, suggesting the state's SBA portfolio skews toward smaller businesses and startups. With 64 active lenders competing for $989M in volume, the per-lender average is only $15.5M annually, indicating lenders may have capacity to take on new borrowers without being overwhelmed.
Total SBA Loans
3,660
Active Lenders
64
Avg Deal Size
$270K
Total Volume
$989.2M
Top 10 Lenders in Maine
Ranked by total deal count across all SBA programs.
| # | Lender | Type | Deals | Avg Size | Spread | |
|---|---|---|---|---|---|---|
| 1 | Bangor Savings Bank | Bank | 936 | $138K | P + 1.50%COMPETITIVE | |
| 2 | Granite State Economic Develop | CDC/504 | 785 | $537K | — | |
| 3 | Katahdin Trust Company | Bank | 336 | $196K | P + 1.75%GOOD | |
| 4 | Maine Community Bank | Bank | 281 | $251K | P + 0.50%COMPETITIVE | |
| 5 | Manufacturers and Traders Trust Company | Bank | 230 | $187K | P + 2.00%GOOD | |
| 6 | Bar Harbor Bank & Trust | Bank | 158 | $176K | P + 1.67%GOOD | |
| 7 | Franklin Savings Bank | Bank | 137 | $115K | P + 1.75%GOOD | |
| 8 | Northeast Bank | Bank | 135 | $182K | P + 2.75%AVERAGE | |
| 9 | Bath Savings Institution | Bank | 106 | $176K | P + 1.25%COMPETITIVE | |
| 10 | Southern Maine Finance Agency | CDC/504 | 105 | $430K | — |
Top Industries in Maine
SBA lending activity by industry segment.