MASCOMA BANK

MASCOMA BANK was one of the thousands of SBA-approved lenders that participated in the Paycheck Protection Program. During the program period (April 2020 – May 2021), the lender originated 2,221 PPP loans totaling $198.5M, representing approximately 0.02% of all loans nationwide.

MASCOMA BANK served borrowers across 12 states. The largest concentration of activity was in New Hampshire, where the lender originated 1,124 loans totaling $106.1M. Other states with significant activity included Vermont, New York, Massachusetts.

The average loan size for this lender was $89,395. This figure reflects the mix of borrower types — large companies, small businesses, sole proprietors, and non-profits — that applied through this institution. Lenders were responsible for collecting and verifying borrower certifications and submitting loan applications to the SBA's E-Tran system.

Among the largest named borrowers that received loans through MASCOMA BANK were: VALLEY REGIONAL HOSPITAL INC (NH) — $4,020,400; NEWSPAPERS OF NEW ENGLAND, INC. (NH) — $2,780,000; ONION RIVER COOPERATIVE INC. (VT) — $2,669,400; and WKS INC (NH) — $2,145,300.

PPP lenders were compensated through processing fees paid by the SBA rather than by borrowers. Fees ranged from 1% to 5% of the loan amount depending on loan size. Lenders were not required to take credit risk — the SBA provided a 100% guaranty on each loan. This structure incentivized broad participation but also contributed to documented cases of lender fraud and over-processing of applications.

Borrower names for loans under $150,000 are withheld under FOIA Exemption 6. As a result, the named recipients shown below represent only a fraction of this lender's total portfolio. The full loan count and amount figures include all loans in the SBA's data regardless of disclosure status.