Our compilation is the result of dedicated research into the small business lending landscape in Massachusetts, grounded in concrete data. The lenders are ranked by the volume of small business loans they've provided within the current year.
Essentially, this means the listed banks and financial institutions are the ones actively extending the highest number of loans to small businesses within the state.
(This stands in contrast to many other sources that often highlight nonprofit organizations with infrequent lending activities or government schemes that are inaccessible to the majority of businesses!)
Takeaway: Despite its small size as a state, most small business lending in Massachusetts is done by local banks.
Methodology: Our analysis utilizes data from SBA 7a loans, confirming that each lender mentioned provides SBA loans. Furthermore, we've detailed other small business financing options available through their websites.
Given that conventional banks often mandate high credit scores and a business history of over two years, we've initiated our guide with two alternative financing solutions aimed at supporting small business owners facing challenges with credit scores or those who are relatively new to their business ventures.
