Needham Bank approved 171 SBA loans worth $37.8M between October 2021 and June 2026, ranking #250 of 2,283 SBA lenders nationally by loan count. Its median loan was $96,500, and 33% went to startups or businesses under two years old. It lent in 5 states, most often in Massachusetts, and its most financed industry was construction.
| State | Loans | Approved | Median loan | Rank in state |
|---|---|---|---|---|
| Massachusetts | 153 | $25.2M | $75,000 | #15 |
| New Hampshire | 12 | $6.0M | $403,450 | #34 |
| Connecticut | 3 | $5.3M | $1,557,000 | #93 |
| Rhode Island | 2 | $1.2M | $617,500 | #57 |
| Florida | 1 | $100K | $100,000 | #292 |
| Industry | Loans | Share | Median loan |
|---|---|---|---|
| Construction | 30 | $100,000 | |
| Professional and technical services | 16 | $200,000 | |
| Arts, entertainment and recreation | 15 | $100,000 | |
| Wholesale trade | 14 | $83,250 | |
| Retail | 14 | $122,500 | |
| Health care and social assistance | 14 | $50,000 | |
| Other services (repair, personal care) | 13 | $40,000 | |
| Restaurants and hotels | 13 | $100,000 | |
| Administrative and support services | 11 | $100,000 | |
| Manufacturing | 9 | $100,000 |