Massachusetts is coming off another strong year of small business lending.

The state’s district of the U.S. Small Business Administration reported issuing more than $491 million in 7(a), 504 and microloans, which are partially backed by the government, in federal fiscal year 2017, which ended Sept. 30.

Although this is a decrease from FFY 2016 loan volume, which was more than $560 million, it is still strong numbers considering 2016 was a huge year for the SBA Massachusetts district. The Massachusetts SBA office issued a total of 2,813 7(a) and 504 loans, only 23 less than in 2016.

“SBA capital supported remained steady – off just by a fraction of a percent (.66) on the 7a side and 2.2 percent with 504s,” Robert H. Nelson, SBA Massachusetts district director, said in a statement. “Overall, FY 2017 was a phenomenal SBA lending year in the commonwealth. In addition to being very productive on small loans, MA SBA lenders used SBA to finance a number of significant large dollar projects in excess of $10 million.”

Nationally in FFY 2017, the SBA approved over 68,000 loans in the 7(a) and 504 loan programs, providing over $30 billion to small businesses.

During FFY 2017, the SBA Massachusetts District Office led the nation in loans less than $50,000; came in second on loans less than $150,000 and underserved; came in fourth on total loan approvals; came in fourth in number of 7(a) loans approved and came in sixth in number of 504 loans approved.

Eastern Bank, for the seventh year in a row, led all financial institutions in Massachusetts and New England, issuing 895 loans totaling more than $57 million, while also being the number one third party 504 lender with 39 loans totaling over $16 million.

Here are some other Massachusetts highlights from FFY 2017:

• The SBA guaranteed 2,549 loans through its flagship 7(a) Loan Guaranty Program for a total of more than $351.3 million supported by a network of 126 lenders, including 13 credit unions. 7(a) loan approvals ranged from a low of $1,000 to $5,000,000.
• Citizens Bank ranked as the second highest producer of 7(a) loans with 210 approvals totaling over $28 million; TD Bank ranked third with 145 loans totaling over $10 million.
• Completing the list of top ten SBA lenders in Massachusetts are Berkshire Bank, Rockland Trust Co., Leader Bank, UniBank, Cambridge Savings Bank, Santander Bank and Century Bank and Trust Co.
• The 504 Loan Program approved 264 loans, supporting more than $139.2 million. Under the SBA 504 program, loans ranged from $35,000 up to $5,000,000 – with six projects being excess of $10 million (SBA 504 loan and third party loan combined).
• Bay Colony Development Corp. was SBA’s highest producer of 504 loans in Massachusetts with 98 loans totaling over $44.6 million.
• Granite State Economic Development Corp. ranked second in volume with 83 projects totaling over $43 million. New England Certified Development ranked third with 46 projects totaling over $29 million.
• The SBA Microloan Program, loans that provide up to $50,000 for small businesses and certain not-for-profit childcare centers, increased from 79 for $1.4 million in 2016 to 94 loans totaling over $1.6 million in 2017. An average microloan is about $13,000.
• Accion East located in Cambridge, ranked as the number one microlender in Massachusetts for both volume of loans and dollar amount, with 33 loans totaling over $518,710 (up from 377,000).

For more information about SBA Massachusetts lending figures in fiscal year 2016, the following resources are available: FY 2017 Loan Volume Report and SBA Massachusetts Lender Network List (as of April 2016).