SBA loans by state
SBA loans in Maine: 253 approvals in FY 2026, median $104,000
Only 5% of variable loans sat at the SBA maximum. 60% of loans went through SBA Express.
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Your loan against approvals in your state
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Maine: 7(a) loans approved last year
253
| Your rate vs. last year’s loans of this size, all states | about the median for this size |
| Maine: median rate at approval, $50,001 to $250,000 | 9.25% |
| Maine: median 7(a) loan last year | $104,000 |
| Payment over 10 years, SBA fee added to the loan | $1,398/mo |
Last year’s loans: the 7(a) loans SBA approved from October 1, 2025 to September 30, 2026 (fiscal year 2026), in SBA’s public loan file of September 30, 2026. Rates at approval were set when prime was 6.75% or 7.00%; today: prime rate 7.00% on November 2, 2026. Your rate is compared on its margin over prime, so the change in prime since last year does not count against you.
Maine, FY 2026: 253 SBA 7(a) approvals for $89.3 million (39th of the 50 states and DC, SBA file of September 30, 2026). Only 5% of variable loans sat at the SBA maximum. 60% of loans went through SBA Express. Loans were small: the median was $104,000, against $220,000 nationally. Home-state lenders made 46% of the loans, against 26% nationwide. 44% of approvals were revolving lines of credit. Franchises took only 6% of loans. 28% of loans had a fixed rate, against 13% nationally. Mid-size loans had a median rate of 9.25%, below the national 9.75%. Few approvals were cancelled, 7%. Businesses under two years old took 23% of loans. The state used 504 loans heavily: 47 approvals for $35.3 million. Today’s cap on a $104,000 variable loan: 13.00%.
Fee notices read and loan file counted by Radif Partners · Editorial policy · Method and sources
| Lender | FY 2026 loans | Median loan | Median variable rate | Lender’s home state |
|---|---|---|---|---|
| TD Bank | 44 | $50,000 | 9.75% | Delaware |
| Maine Community Bank | 35 | $220,000 | 7.75% | Maine (in-state) |
| M&T Bank | 30 | $55,000 | 10.38% | New York |
| Bangor Savings Bank | 25 | $105,000 | 7.75% | Maine (in-state) |
| Machias Savings Bank | 17 | $310,000 | n/a | Maine (in-state) |
Almost nobody pays the maximum
Just 5% of Maine’s variable loans were at the SBA ceiling, 7th lowest among the 50 states and DC. Lenders here compete below the cap, so the median for your loan size, in the table above, is the better benchmark.
Express is the main route
60% of Maine’s loans were SBA Express, 5th highest among the 50 states and DC. Among the busiest lenders, TD Bank and M&T Bank made mostly Express loans. Most of these are small loans decided by the bank itself, on a 50% guaranty.
Among the smallest SBA loans in the country
A median of $104,000 makes Maine’s loans 5th lowest among the 50 states and DC in size. 31% were for $50,000 or less, the band where SBA lets the rate reach prime plus 6.5 (13.50% today) and charges 2% on an 85% guaranty.
One of the most home-grown SBA markets
Few states rely on their own banks the way Maine does: 46% of its loans came from a lender headquartered there, 6th highest among the 50 states and DC. Maine Community Bank, Bangor Savings Bank and Machias Savings Bank carry most of that. Margins: 1.00 point over prime at the median for in-state lenders, 2.75 points for the others.
| Loan size | Loans | Median variable rate, FY 2026 | SBA maximum today |
|---|---|---|---|
| $50,000 or less | 79 | 9.75% | 13.50% |
| $50,001 to $250,000 | 97 | 9.25% | 13.00% |
| $250,001 to $350,000 | 20 | 9.62% | 11.50% |
| over $350,000 | 57 | 8.50% | 10.00% |
A market for credit lines
Revolving lines were 44% of Maine’s approvals, 3rd highest among the 50 states and DC. A business that needs cash for seasonal swings or receivables can ask for a line rather than a term loan; the cap on the rate is the same.
Few franchise loans
Franchise units took 6% of Maine’s approvals, below the 14% national share; independent businesses took nearly all the rest.
A fixed-rate market
Maine lenders wrote 28% of their SBA loans at a fixed rate, 5th highest among the 50 states and DC, at a median of 7.22%. The fixed cap, prime plus 5 to 8 points, is set in the Federal Register notice of August 1, 2022.
Mid-size loans priced below average
On loans of $50,001 to $250,000, the median variable rate in Maine was 9.25%, against 9.75% nationally. A Maine quote above the national median for that size has room to come down.
Counties with the most approvals: Cumberland (83), York (62) and Penobscot (28). Trades: full-service restaurants (8), fitness and recreational sports centers (8), snack and nonalcoholic beverage bars (7), landscaping services (6) and site preparation contractors (6).
All states compared.