SBA loans by state
SBA loans in Maryland: 1,236 approvals in FY 2026, median $128,250
20% of variable loans were priced at the SBA maximum. M&T Bank alone made 46% of the loans.
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Maryland: 7(a) loans approved last year
1,236
| Your rate vs. last year’s loans of this size, all states | about the median for this size |
| Maryland: median rate at approval, $50,001 to $250,000 | 9.75% |
| Maryland: median 7(a) loan last year | $128,250 |
| Payment over 10 years, SBA fee added to the loan | $1,720/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.
Maryland, FY 2026: 1,236 SBA 7(a) approvals for $551.8 million (15th of the 50 states and DC, SBA file of September 30, 2026). 20% of variable loans were priced at the SBA maximum. M&T Bank alone made 46% of the loans. Only 3% of the loans came from lenders based in Maryland. 504 lending was light, 38 approvals. 53% of loans went through SBA Express. The state stood out for loans to custom computer programming services. Loans were small: the median was $128,250, against $220,000 nationally. Few loans ran past 15 years: 7%. Variable rates dominated: only 8% of loans were fixed. A few large loans pushed the average to $446,422. 34% of approvals were revolving lines of credit. Today’s cap on a $128,000 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 |
|---|---|---|---|---|
| M&T Bank | 566 | $50,000 | 10.25% | New York |
| Newtek Bank | 74 | $162,500 | 9.75% | Florida |
| Northeast Bank | 67 | $150,000 | 9.75% | Maine |
| Live Oak Banking | 41 | $733,000 | 9.12% | North Carolina |
| TD Bank | 29 | $60,000 | 9.75% | Delaware |
Among the most loans at the legal maximum
20% of Maryland’s variable loans sat exactly at SBA’s cap, the highest among the 50 states and DC. Of the five busiest lenders, Newtek Bank priced 46% of its Maryland variable loans at the cap. Ask any lender quoting the cap what a lower margin would require.
M&T Bank dominates
M&T Bank alone made 46% of Maryland’s SBA loans, a share for one lender the highest among the 50 states and DC, with a median loan of $50,000. The five busiest together made 63%.
Almost no in-state SBA lending
Home-state lenders made just 3% of Maryland’s loans, 3rd lowest among the 50 states and DC. A borrower here usually ends up with M&T Bank and Newtek Bank, dealing by phone and online rather than at a branch. Margins: 2.12 points over prime at the median for in-state lenders, 3.00 points for the others.
Hardly any 504 loans
Only 38 504 debentures went to Maryland projects against 1,236 7(a) loans, a ratio 4th lowest among the 50 states and DC. The CDC most present was Business Finance Group, Inc.. For a building, the 504 route is still open and worth pricing against a 7(a) real estate loan.
| Loan size | Loans | Median variable rate, FY 2026 | SBA maximum today |
|---|---|---|---|
| $50,000 or less | 392 | 13.25% | 13.50% |
| $50,001 to $250,000 | 425 | 9.75% | 13.00% |
| $250,001 to $350,000 | 127 | 9.50% | 11.50% |
| over $350,000 | 292 | 8.75% | 10.00% |
Express is the main route
53% of Maryland’s loans were SBA Express, 8th highest among the 50 states and DC. Among the busiest lenders, M&T Bank and TD Bank made mostly Express loans. Most of these are small loans decided by the bank itself, on a 50% guaranty.
More common here than nationally: custom computer programming services
20 Maryland loans went to custom computer programming services, 3.3 times the national share for that trade. The most frequent trades overall were full-service restaurants, limited-service restaurants and residential remodelers. A practice or agency is bought for its client base, so these loans are mostly changes of ownership under SBA’s rules for buying a business, with few hard assets behind them.
Smaller loans, higher allowed margins
Half of Maryland’s approvals were for $128,250 or less, 10th smallest of the 50 states and DC ($220,000 nationally). SBA guarantees 85% of a loan that size and the fee is $2,180, but the variable rate may go up to prime plus 6.0 points, 13.00% today.
Short terms dominate
Only 7% of Maryland’s loans ran 15 years or more (13% nationally); the median term was 10 years. Loans under 15 years can be repaid early with no SBA fee.
Counties with the most approvals: Baltimore (206), Montgomery (175) and Prince Georges (158). Trades: full-service restaurants (65), limited-service restaurants (53), residential remodelers (42), beauty salons (36) and child care services (34).
All states compared.