SBA loans play a crucial role in providing financial assistance to entrepreneurs and small business owners. For those in Vermont seeking SBA loans, understanding the key players in the lending landscape is essential. Here’s a breakdown of the top SBA lenders in Vermont based on the number of loans, average loan amount, and average interest rates.
Vermont Preferred SBA Lenders
| Rank | Bank | Bank HQ | # of Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|---|
| 1 | Community National Bank | Derby, VT | 16 | $185,669 | 6.1% |
| 2 | Heritage Family FCU | Rutland, VT | 14 | $111,714 | 5.3% |
| 3 | Union Bank | Morrisville, VT | 8 | $90,563 | 6.5% |
| 4 | M&T | Buffalo, NY | 6 | $110,000 | 8.2% |
| 5 | North Country FCU | South Burlington, VT | 6 | $57,617 | 9.2% |
| 6 | TD Bank | Wilmington, DE | 6 | $732,333 | 8.5% |
| 7 | KeyBank | Cleveland, OH | 5 | $101,000 | 6.4% |
| 8 | Peoples Trust Company of St. Albans | Saint Albans, VT | 5 | $108,800 | 6.2% |
| 9 | The Bank of Bennington | Bennington, VT | 4 | $146,250 | 5.7% |
| 10 | JPMorgan Chase Bank | Columbus, OH | 3 | $185,000 | 8.8% |
| 11 | National Bank of Middlebury | Middlebury, VT | 3 | $93,333 | 7.5% |
| 12 | Vermont 504 Corporation | Montpelier, VT | 3 | $77,333 | 5.3% |
Top Industries for SBA loans in Vermont
| Rank | Industry | # of Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|
| 1 | Landscaping Services | 8 | $60,525 | 8.0% |
| 2 | Full-Service Restaurants | 6 | $142,367 | 6.5% |
| 3 | Plumbing, Heating, and Air-Conditioning Contractors | 5 | $571,400 | 8.0% |
| 4 | All Other Miscellaneous Food Manufacturing | 5 | $258,940 | 6.2% |
| 5 | General Freight Trucking, Local | 4 | $28,175 | 9.4% |
| 6 | Breweries | 3 | $121,667 | 6.6% |
| 7 | Hotels (except Casino Hotels) and Motels | 3 | $1,191,000 | 6.6% |
Top SBA Loan Franchises in Vermont
| Rank | FranchiseName | # of Loans | Avg Loan | Avg Interest |
|---|
Top Vermont SBA Loan Borrowers by Jobs Supported
| Rank | Business | Location | Industry | Loan Size | Interest Rate | Jobs |
|---|---|---|---|---|---|---|
| 1 | D&R PROPERTY SERVICES | Springfield, VT | Landscaping Services | $250K or less | 10.0% | 82 |
| 2 | AUTISM ADVOCACY AND INTERVENTI | Barton, VT | Offices of Mental Health Practitioners (except Physicians) | $250K – $500K | 6.2% | 70 |
| 3 | CITIZEN CIDER LLC | Burlington, VT | Wineries | $1M – $2.5M | 4.0% | 70 |
| 4 | BUTTERFLY BAKERY OF VERMONT LL | Barre, VT | All Other Miscellaneous Food Manufacturing | $250K – $500K | 7.0% | 50 |
| 5 | RECONCILED IT INC | Burlington, VT | Other Accounting Services | $1M – $2.5M | 5.8% | 49 |
| 6 | GOOD MEASURE INC | Northfield, VT | Other Grocery and Related Products Merchant Wholesalers | $250K or less | 4.7% | 42 |
| 7 | KRAEMER AND KIN LLC | Alburgh, VT | Breweries | $250K or less | 6.7% | 34 |
| 8 | HAMMERBEAM HOLDINGS LLC | Starksboro, VT | Framing Contractors | $2.5M – $5M | 7.3% | 31 |
| 9 | TCE INC. | Williston, VT | Engineering Services | $250K or less | 6.5% | 30 |
| 10 | NZE 2050 LLC | Williston, VT | Plumbing, Heating, and Air-Conditioning Contractors | $1M – $2.5M | 5.0% | 29 |
| 11 | VERMONT FINE LLC | Richmond, VT | Full-Service Restaurants | $250K or less | 6.2% | 28 |
| 12 | MILL RIVER LUMBER HOLDINGS LL | North Clarendon, VT | Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers | $2.5M – $5M | 9.0% | 28 |
| 13 | MAY DAY LLC | Burlington, VT | Full-Service Restaurants | $250K or less | 6.5% | 23 |
| 14 | PFL & ASSOCIATES LLC | Rutland, VT | Landscaping Services | $250K or less | 4.3% | 22 |
| 15 | WILD APPLE GRAPHICS LTD | Woodstock, VT | $2.5M – $5M | 4.5% | 22 | |
| 16 | KEELY M DOE LLC | Saint Albans, VT | Fitness and Recreational Sports Centers | $250K – $500K | 5.0% | 21 |
| 17 | PINEMARTEN LLC | Fairfax, VT | Full-Service Restaurants | $250K or less | 7.0% | 20 |
| 18 | THE DALEY DOUBLE LLC | Essex Junction, VT | Commercial Bakeries | $250K or less | 6.0% | 18 |
| 19 | QM STORE INC | Barre, VT | Supermarkets and Other Grocery (except Convenience) Stores | $250K or less | 8.8% | 16 |
| 20 | VERMONT INTEGRATIVE MEDICAL AS | South Burlington, VT | Offices of Physicians (except Mental Health Specialists) | $250K – $500K | 5.3% | 16 |
| 21 | BLISS VILLAGE LLC | Bradford, VT | Supermarkets and Other Grocery (except Convenience) Stores | $250K – $500K | 2.0% | 15 |
| 22 | THE ROUNDHOUSE BAR & GRILL LLC | Manchester Center, VT | Drinking Places (Alcoholic Beverages) | $250K – $500K | 4.3% | 15 |
| 23 | BURLINGTON BEER COMPANY | Williston, VT | Breweries | $250K or less | 6.3% | 14 |
| 24 | FREEDOM FOODS LLC | Randolph, VT | All Other Miscellaneous Food Manufacturing | $250K or less | 4.8% | 13 |
| 25 | STARBIRD EVENTS LLC | South Burlington, VT | Promoters of Performing Arts, Sports, and Similar Events without Facil | $250K or less | 10.8% | 12 |
| 26 | NOMAD VENTURES LLC | Castleton, VT | Full-Service Restaurants | $250K – $500K | 5.8% | 12 |
| 27 | EDEN GENERAL STORE | Eden, VT | $1M – $2.5M | 6.3% | 12 |
Note about SBA lenders near me in Vermont
When it comes to top Vermont SBA lenders, it’s a common inquiry whether any of the listed banks are 1) included in the Vermont preferred lender list, 2) approved lenders in Vermont, or 3) active participants in the Vermont SBA Express lending program. These queries center around the ability of a given SBA bank to facilitate small business SBA loans in Vermont swiftly. The answer is an unequivocal yes. These aren’t your run-of-the-mill banks making only a handful of SBA loans annually; these are institutions well-versed in the intricacies of the SBA 7(a) loan program. They stand out as the top performers in Vermont, as evidenced by our thorough analysis of thousands of SBA loans each year, leading us to rank lenders based on recent activity.
It’s crucial to note that while some banks may limit their lending to specific regions, there exist a select few highly assertive nationwide SBA lenders that operate nationally. These lenders possess a profound understanding of the SBA program and execute transactions with remarkable speed. Therefore, we advise against restricting your search solely to your home state. Our lender match tool proves invaluable in this regard. By utilizing it, we can identify suitable SBA banks tailored to your specific needs, be it geography, industry, company size, all at no cost or obligation to you. This service aims to save you valuable time and ensure a seamless SBA loan process.