48 SBA loans worth $10.3M went to businesses in Andover, MA between October 2021 and June 2026, from 24 lenders. Eastern Bank made the most, 9 loans. The median loan was $150,000, compared with $145,000 across Massachusetts, and professional and technical services was the most financed industry.
| # | Lender | Loans | Approved | Median loan | To startups |
|---|---|---|---|---|---|
| 1 | Eastern Bank Bank · Boston, MA | 9 | $1.7M | $150,000 | 11% |
| 2 | TD Bank Bank · Wilmington, DE | 9 | $652K | $40,000 | 11% |
| 3 | Newburyport Five Cents Savings Bank Bank · Newburyport, MA | 3 | $388K | $100,000 | 100% |
| 4 | Bank of America Bank · Charlotte, NC | 2 | $775K | $387,600 | 0% |
| 5 | New England Certified Development Certified development company · Wakefield, MA | 2 | $722K | $361,000 | 0% |
| 6 | Bay Colony Development Certified development company · Waltham, MA | 2 | $661K | $330,500 | 0% |
| 7 | Salem Five Cents Savings Bank Bank · Salem, MA | 2 | $550K | $275,000 | 0% |
| 8 | Huntington National Bank Bank · Columbus, OH | 2 | $258K | $129,000 | 100% |
| 9 | Manufacturers and Traders Trust Bank · Buffalo, NY | 2 | $134K | $67,250 | 0% |
| 10 | Live Oak Banking Bank · Wilmington, NC | 1 | $985K | $985,000 | 0% |
| 11 | Hanscom FCU Credit union · Hanscom Air Force Base, MA | 1 | $600K | $600,000 | 100% |
| 12 | Merchants Bank of Indiana Bank · Carmel, IN | 1 | $598K | $598,100 | 0% |
| 13 | Rockland Trust Bank · Rockland, MA | 1 | $450K | $450,000 | 0% |
| 14 | Readycap Lending Non-bank lender · Berkeley Heights, NJ | 1 | $350K | $350,000 | 0% |
| 15 | Savings Bank Bank · Wakefield, MA | 1 | $350K | $350,000 | 0% |
| Industry | Loans | Share | Median loan | Most active lender |
|---|---|---|---|---|
| Professional and technical services | 10 | $343,750 | Eastern Bank | |
| Health care and social assistance | 6 | $223,000 | Huntington National Bank | |
| Other services (repair, personal care) | 6 | $52,250 | TD Bank | |
| Retail | 5 | $75,000 | TD Bank | |
| Wholesale trade | 4 | $80,700 | Eastern Bank | |
| Administrative and support services | 4 | $284,500 | Lowell Five Cent Savings Bank | |
| Construction | 3 | $64,000 | Bank of America | |
| Restaurants and hotels | 2 | $165,000 | Eastern Bank |