BankNewport approved 164 SBA loans worth $11.8M between October 2021 and June 2026, ranking #256 of 2,283 SBA lenders nationally by loan count. Its median loan was $60,000, and 16% went to startups or businesses under two years old. It lent in 3 states, most often in Rhode Island, and its most financed industry was construction.
| State | Loans | Approved | Median loan | Rank in state |
|---|---|---|---|---|
| Rhode Island | 153 | $10.5M | $60,000 | #1 |
| Massachusetts | 9 | $1.2M | $100,000 | #87 |
| Connecticut | 2 | $138K | $69,000 | #107 |
| Industry | Loans | Share | Median loan |
|---|---|---|---|
| Construction | 39 | $80,000 | |
| Retail | 23 | $55,200 | |
| Restaurants and hotels | 22 | $100,000 | |
| Administrative and support services | 15 | $38,000 | |
| Professional and technical services | 12 | $45,000 | |
| Other services (repair, personal care) | 11 | $30,000 | |
| Manufacturing | 10 | $37,000 | |
| Real estate and rental | 6 | $50,000 | |
| Transportation and warehousing | 6 | $30,000 | |
| Arts, entertainment and recreation | 5 | $60,000 |