# Small business loans in Cranston, RI

**Short answer:** The most active SBA lenders in Cranston, RI since FY2024 are TD Bank (10 loans) and BankNewport (8). The median loan was $100,000, and half fell between $50,750 and $230,250. For free help, see the Rhode Island Small Business Development Center. Source: SBA 7(a) loan data.

Canonical page: https://www.sbaexpress.loans/rhode-island-small-business-loans/cranston/
Data as of: 2026-06-30

## Lenders making SBA loans in Cranston

No lender made more than 20% of the loans in Cranston, and TD Bank made the most. The three largest lenders together made 46%.

**Lenders with five or more SBA loans in Cranston, RI, FY2024 to June 2026**

| Lender | Loans | Share |
| --- | --- | --- |
| [TD Bank](https://www.sbaexpress.loans/sba-express-lenders/td-bank/) | 10 | 20.0% |
| [BankNewport](https://www.sbaexpress.loans/sba-express-lenders/banknewport/) | 8 | 16.0% |
| [Eastern Bank](https://www.sbaexpress.loans/sba-express-lenders/eastern-bank/rhode-island/) | 5 | 10.0% |

Share is the percent of all Cranston loans in that period. Each name links to that lender's page for Rhode Island where one exists.

Cranston has three lenders with five or more loans since FY2024. Others had fewer, and the Rhode Island page counts 65 lenders with at least one approved loan statewide.

## Local help near Cranston

Cranston borrowers can start with SBA's district office for Rhode Island, an SBDC or SCORE.

32% of Cranston borrowers since FY2024 were startups or businesses two years old or younger. SBDCs provide counseling and training, and SCORE mentors give advice at no cost, according to SBA.

SBA has one district office for Rhode Island. Its page points to state and federal resources and to lenders in the area. The Rhode Island Small Business Development Center gives free counseling across Rhode Island.

- [SBA Rhode Island District Office: SBA district office](https://www.sba.gov/district/rhode-island)
- [Rhode Island Small Business Development Center: Small Business Development Center](https://web.uri.edu/risbdc/)
- [SCORE mentors in Rhode Island: Business mentoring](https://www.score.org/ri/)

Alongside SBA loans, Rhode Island runs three loan programs. The [Rhode Island page](https://www.sbaexpress.loans/rhode-island-small-business-loans/#loan-programs-in-rhode-island) describes each, and the official pages are linked here.

- [Small Business Assistance Program (SBAP)](https://commerceri.com/small-business-assistance-program/)
- [Small Business Loan Fund (SBLF)](https://commerceri.com/small-business-loan-fund/)
- [State Small Business Credit Initiative (SSBCI) Loan Participation Program](https://commerceri.com/state-small-business-credit-initiative/)

## Loan counts and sizes in Cranston

Cranston ranks 3rd by loans since FY2024 among the 3 Rhode Island cities with 100 or more SBA loans since FY2020. Nationally it is the 530th busiest of the 580 cities that reach 100 loans.

The 50 loans, 8.0% of the 624 in Rhode Island, were approved for $10.5 million in all. The median loan was $100,000, 33% below the national median of $150,300. Half of the loans fell between $50,750 and $230,250. The Rhode Island median is $100,000.

**Cranston, RI compared with Rhode Island and the nation, loans from FY2024 to June 2026**

| Measure | Cranston | Rhode Island | U.S. |
| --- | --- | --- | --- |
| Loans | 50 | 624 | 162,355 |
| Median loan | $100,000 | $100,000 | $150,300 |
| 25th percentile | $50,750 | $50,000 | $50,000 |
| 75th percentile | $230,250 | $253,800 | $500,000 |
| Via SBA Express | 64.0% | 61.4% | 35.8% |
| Lines of credit | 52.0% | 44.9% | 28.1% |
| Startups | 12.0% | 10.1% | 16.1% |
| Ownership changes | 0.0% | 8.0% | 10.4% |
| Median term | 10 years | 10 years | 10 years |
| Median spread | 2.75 | 2.75 | 2.75 |
| Charged off | Fewer than 5 | 2.5% | 3.6% |

A quarter of loans were smaller than the 25th percentile loan and a quarter were larger than the 75th. Median spread is in percentage points over Prime. Charged off is the share of FY2020 to FY2022 loans a lender wrote off as a loss. It is shown only for groups of 30 loans or more. Fewer than 5 marks a share that would stand for 1 to 4 loans, which we do not publish. U.S. covers every loan in the file.

96% of the loans were $500,000 or less, the size SBA Express covers. 64.0% of all loans went through SBA Express, above the national 35.8%. Lines of credit were 52.0% of loans, above the national 28.1%.

SBA loans in Cranston, RI by size, FY2024 to June 2026

- $50,000 or less (26%): 13
- $50,001 to $150,000 (38%): 19
- $150,001 to $350,000 (22%): 11
- $350,001 to $500,000 (10%): 5
- $500,001 to $1,000,000: Fewer than 5
- $1,000,001 to $2,000,000 (0%): 0
- Over $2,000,000: Fewer than 5

Labels show each size's share of all loans. The highlighted bar is the size band that contains the median.

By business age, 68.0% of loans went to businesses more than two years old and 20.0% to businesses two years old or younger. Startups received 12.0% and changes of ownership 0.0%. The national startup share is 16.1%.

SBA loans in Cranston, RI by fiscal year

- FY2020: 13
- FY2021: 13
- FY2022: 20
- FY2023: 21
- FY2024: 18
- FY2025: 22
- FY2026 (through June 30): 10

Fiscal years run October to September. The last bar covers nine of its twelve months.

Volume rose 22% from FY2024 (18 loans) to FY2025 (22), the two latest full years. The busiest full year in the file was FY2025, with 22 loans. FY2026 already shows 10 loans through June 30.

Of the 46 loans Cranston borrowers received in FY2020 to FY2022, fewer than 5 were charged off by June 30, 2026, against 3.6% nationally. Lenders reported 315 jobs supported across the 50 loans since FY2024, about 6.3 per loan. SBA does not audit these estimates.

## What businesses in Cranston borrow for

Full-Service Restaurants was the largest borrower group in Cranston since FY2020, with 6 loans or 5.1% of the total.

**Industries with the most SBA loans in Cranston, RI, FY2020 to June 2026**

| Industry | Loans | Share | U.S. share |
| --- | --- | --- | --- |
| [Full-Service Restaurants](https://www.sbaexpress.loans/industries/full-service-restaurants/rhode-island/) | 6 | 5.1% | 4.6% |
| [Beauty Salons](https://www.sbaexpress.loans/industries/beauty-salons/) | 5 | 4.3% | 1.5% |

Share is the percent of all Cranston loans in that period. Industry is the NAICS code on each loan. A name links to the Rhode Island page for that industry where one exists.

## A typical loan payment in Cranston

The median Cranston loan was $100,000 with a median term of 10 years.

The median variable-rate loan in Cranston was priced at Prime plus 2.75 percentage points at approval. At today's Prime that spread works out to 9.75%. On $100,000 over 10 years, principal and interest would come to about $1,308 a month. That is arithmetic on past loans, not a rate a lender is offering.

**Payment at today's rate on three Cranston loan sizes over 10 years**

| Loan | Amount | Monthly payment |
| --- | --- | --- |
| 25th percentile loan | $50,750 | $664 |
| Median loan | $100,000 | $1,308 |
| 75th percentile loan | $230,250 | $3,011 |

Principal and interest only. Fees, a different term or a fixed rate change the payment. This is an illustration from SBA's file, not an offer.

SBA's rate ceiling for this loan size

SBA's maximum for a loan of $100,000 is Prime plus 6.0 percentage points, or 13.00% today. The median variable-rate loan here was priced 3.2 points under that ceiling. Source: 13 CFR § 120.214(d)(2); SOP 50 10 8.1, App. 18, Para. A.2 (p. 395).

Cranston loans approved since FY2024 had a median starting rate of 10.25% at approval, matching the national median. Prime changed during those years, so use the spread above, not that rate, as the guide to today's cost.

Run your own numbers: [payments on a $100,000 loan](https://www.sbaexpress.loans/loan-amounts/100000-business-loan/) and [SBA Express payment calculator](https://www.sbaexpress.loans/sba-express-payment-calculator/).

## SBA 504 loans near Cranston

Cranston has 12 SBA 504 loans since FY2024, with $5.3 million in SBA and CDC dollars.

The median 504 loan in Cranston was $393,000 in SBA and CDC dollars, 8% of the $5,000,000 program maximum. The bank's share of each project is separate and is not counted in these figures.

Ocean State Business Development Authority is the Certified Development Company (CDC) named on the most loans since FY2020, with 18. New England Certified Development Corporation follows with 7. The three CDCs listed are named on 30 loans between them.

**CDCs named on five or more 504 loans in Cranston, FY2020 to June 2026**

| Certified Development Company | 504 loans |
| --- | --- |
| Ocean State Business Development Authority | 18 |
| New England Certified Development Corporation | 7 |
| Bay Colony Development Corporation | 5 |

How a 504 loan is split

A standard 504 project is 50% third party lender, 40% CDC debenture, 10% borrower. 504 money pays for major fixed assets such as land, buildings and long-term machinery and equipment, not working capital or inventory. Source: SOP 50 10 8.1, Sec. C, Ch. 1, Para. B (p. 221). SBA keeps a [list of Certified Development Companies](https://www.sba.gov/loans/504-loans/list-of-certified-development-companies/).

## Rhode Island cities near Cranston

Cranston made up 8.0% of Rhode Island's SBA loans since FY2024.

Cranston is one of 3 Rhode Island cities with 100 or more SBA loans since FY2020. The [Rhode Island page](https://www.sbaexpress.loans/rhode-island-small-business-loans/) covers all 624 loans in Rhode Island. The closest come first, ranked by county and ZIP code on their loans.

- [Providence: 97 loans, median $100,000](https://www.sbaexpress.loans/rhode-island-small-business-loans/providence/)
- [Warwick: 61 loans, median $166,000](https://www.sbaexpress.loans/rhode-island-small-business-loans/warwick/)

## Common questions about SBA loans in Cranston

### Which lenders make the most SBA loans in Cranston?

TD Bank leads with 10 loans in Cranston since FY2024. BankNewport (8) and Eastern Bank (5) follow. Only lenders with five or more Cranston loans are counted.

### Which industries get SBA loans in Cranston?

Full-Service Restaurants leads with 6 loans in Cranston since FY2020. Beauty Salons (5) follows.

How to read this

Counts come from SBA's 7(a) loan-level data release, as of June 30, 2026. The file lists loans SBA approved. It does not list declined applications, so it cannot show approval odds. We do not publish any figure built on fewer than 5 loans. Location is the borrower's address in the file, and city names are as SBA recorded them. Recent means FY2024 through June 30, 2026. Charge-off rates use FY2020 to FY2022 loans, the only years old enough to have had time to go bad. Jobs supported are lender-reported estimates. [How we build these pages](https://www.sbaexpress.loans/method/).

## Sources

- [SBA 7(a) and 504 FOIA loan-level data, as of June 30, 2026](https://data.sba.gov/dataset/7a-504-foia)
- [SBA, 504 loans](https://www.sba.gov/loans/504-loans/)
- [SBA, resource partners: SBDCs and SCORE](https://www.sba.gov/counseling/local-assistance/resource-partners/)
- [SBA Rhode Island District Office](https://www.sba.gov/district/rhode-island)
- [Rhode Island Small Business Development Center](https://web.uri.edu/risbdc/)
- [SCORE, Rhode Island](https://www.score.org/ri/)
- [SOP 50 10 8.1, Sec. C, Ch. 1, Para. D.1 (p. 241); 13 CFR § 120.931](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)
- [SOP 50 10 8.1, Sec. C, Ch. 1, Para. B (p. 221)](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)
- [sba.gov/loans/504-loans; SOP 50 10 8.1, Sec. A, Ch. 3, Para. A (p. 51)](https://www.sba.gov/loans/504-loans/)
- [SOP 50 10 8.1, Sec. B, Ch. 2, Para. B.1 (p. 126)](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)
- [13 CFR § 120.214(d)(2); SOP 50 10 8.1, App. 18, Para. A.2 (p. 395)](https://www.ecfr.gov/current/title-13/section-120.214)