Top SBA Acquisition Lenders in Rhode Island
11 active SBA 7(a) lenders in Rhode Island, ranked by acquisition loan count.
Lenders
in Rhode Island
Total Volume
Median Rate
Median Loan Size
Top Lenders in Rhode Island
Loans
3
Rate
P+2.25%
0.9%
Small Business Administration (SBA) data only — profile coming soon
Lending by Industry in Rhode Island
Covers the 3 of 25 Rhode Island loans that the FOIA dataset reports at the state and industry level.
Top 11 Lenders in Rhode Island
| # | Lender | Loans | Volume | Rate | Default Rate |
|---|---|---|---|---|---|
| 1 | Live Oak Bank | 6 | $14.6M | P+1.50% | 0.8% |
| 2 | Citizens Bank, National Association | 3 | $939K | P+2.88% | 0.0% |
| 3 | Brookline Bank | 3 | $1.8M | P+2.25% | 0.9% |
| 4 | Bristol County Savings Bank | 2 | $3.1M | P+1.00% | 0.0% |
| 5 | The Washington Trust Company of Westerly | 2 | $1.0M | P+0.00% | 0.0% |
| 6 | The Huntington National Bank | 2 | $750K | P+2.25% | 1.7% |
| 7 | Rockland Trust Company | 2 | $1.2M | P+0.00% | 0.0% |
| 8 | Oconee State Bank | 2 | $1.8M | P+2.38% | 0.0% |
| 9 | Webster Bank National Association | 1 | $1.3M | P+1.50% | 1.5% |
| 10 | Navigant CU | 1 | $247K | P+1.00% | 12.5% |
| 11 | Bankwell Bank | 1 | $2.5M | P+2.50% | 0.0% |
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Customize your search →SBA 7(a) Lending in Rhode Island
Rhode Island has 11 active SBA 7(a) acquisition lenders that have originated a combined 25 loans totaling $29.4M in volume. The median acquisition loan size in Rhode Island is $620K, with a median interest rate of Prime + 2.25% (Prime + spread).
When evaluating SBA lenders in Rhode Island, consider loan volume (a proxy for experience), interest rates, and historical default rates. Lenders designated as PLP (Preferred Lender Program) have delegated authority from the SBA to approve loans, which typically results in faster processing times.
Frequently Asked Questions
How many SBA 7(a) lenders are active in Rhode Island?
There are currently 11 active SBA 7(a) lenders in Rhode Island based on FOIA lending data. These lenders have originated 25 acquisition loans.
What is the typical SBA loan rate in Rhode Island?
The median SBA 7(a) acquisition loan rate in Rhode Island is Prime + 2.25% (current Prime rate: 6.75%). Rates are typically expressed as Prime plus a spread, with the SBA capping the spread at 3.0% for loans over $250,000.
What is a PLP lender?
A PLP (Preferred Lender Program) lender has been granted delegated authority by the SBA to make credit decisions without prior SBA review. This typically means faster loan processing and approval timelines.
Data source: SBA 7(a) FOIA lending data. Rankings are based on loan count within the selected dimension. Rates shown are median interest rates expressed as Prime + spread. Default rates represent 10-year cumulative default rates. Data is refreshed periodically and may not reflect the most recent lending activity.
Figures shown here are historical SBA 7(a) lending data presented for general information only. They are not an offer of credit, a prediction of the terms you will receive, or financial advice. VerSquare is not a licensed broker, lender, or financial advisor. Consult a licensed professional before making a financing decision.