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Nearly 2,000 Massachusetts small businesses received loans worth more than $700 million through the U.S. Small Business Administration loan programs during the fiscal year ending Sept. 30, and Eastern Bank and St. Mary’s credit union were among the top lenders in the category.

The SBA’s three loan programs – 7(a) Loan Guaranty Program, the 504 Loan Program and the SBA Microloan Program – provided capital to 1,971 small businesses for $722 million in Massachusetts, according to an announcement from the SBA Massachusetts office.

The state’s small businesses received loans ranging from $5,000 to $5 million, with three projects using a combination of SBA loans to exceed $10 million. About 29 percent of the loans went to new businesses established within two years.

“Together with over 135 different lenders using SBA loan programs, over 6,000 jobs were created and 7,600 were retained according to self-reported figures,” Robert H. Nelson, SBA Massachusetts District Director, said in a statement. “We thank all of our partners and friends for working with the SBA to ensure small businesses get the access to capital they need to expand.”

Through its flagship 7(a) Loan Guaranty Program, the SBA approved 1,593 loans in Massachusetts for more than $357 million. The smallest 7(a) loan was $5,000 and the largest was $5 million. There were 118 lenders, including 12 credit unions, in this program.

Boston-based Eastern Bank was the top 7(a) lender in Massachusetts for the 11th year in a row and in New England for the 10th consecutive year. Eastern Bank approved 415 SBA 7(a) loans or 26 percent of all 7(a) loans made in the state, totaling over $41.6 million.

Eastern President and Vice Chair Quincy Miller told Banker & Tradesman that the bank made a concerted effort to step up small business lending during the Great Recession, when small businesses had difficulties accessing credit.

“As a community bank, we are only as strong as the community that we serve,” Miller said.

Eastern’s loans range from $10,000 to multi-million dollar loans, Miller said, with an average about $110,000. Miller added that the jobs created through the SBA loans are a critical to bank’s work in the community. He added that Eastern’s long history of working in small business lending gives the bank a level of expertise in understanding what products are best for clients.

Along with the 7(a) loans, Eastern also approved 32 loans within the SBA’s 504 Loan Program. With more than $26.7 million of these loans, Eastern ranked as the top bank in this this program.

Overall, the 504 Loan Program approved 247 loans in Massachusetts ranging from $58,000 up to $5 million for a total of more than $156.31 million. Third Party loans, which are part of the 504 program, totaled over $205.55 million. The three projects in excess of $10 million used a combination of 504 and Third Party loans. Bay Colony Development Corp. was SBA’s highest producer of 504 loans in Massachusetts, with 92 loans totaling $56.31 million.

Providing up to $50,000 to help small businesses start-up and expand, 10 microloan intermediaries approved 131 loans totaling $2.33 million during the fiscal year through the SBA Microloan Program. The average microloan was $17,824. Accion East was the top microlender, approving 33 loans totaling $451,217.

The SBA recognized several Massachusetts lenders in a recent event at Clark University. In addition to Eastern Bank, other lenders recognized as lenders of the year included Cambridge Savings Bank for lending to women entrepreneurs and new businesses; Leader Bank for lending to minorities; Beverly Bank, a Division of North Shore Bank, for lending to veterans; Santander Bank for lending to restaurants; Avidia Bank for lending to the construction industry; and People’s United Bank for lending to manufacturers. The only credit union in the state to make the top 10 most active SBA Lender list for both 7(a) and Third Party loans, St. Mary’s Credit Union was recognized as credit union of the year.