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County4th of 21 in New Jersey by approvalsFIPS 34013
SBA loans in Essex County, New Jersey
7(a) and 504 approvals to businesses located in the county, set against the number of businesses there and against the state.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
Businesses in Essex County, New Jersey, received 890 SBA loan approvals worth $362M in FY2021 to FY2025 (855 7(a), 35 504).
That is 45.9 approvals per 1,000 business establishments (19,392 establishments in 2023), close to the New Jersey figure of 46.8 and close to the national 41.0.
It ranks 4th of 21 New Jersey counties with approvals. In FY2025 there were 239, up 14% on FY2024.
92 lenders had approvals here; the most active were TD Bank, National Association (188), Manufacturers and Traders Trust Company (104) and The Huntington National Bank (50). The most common industry was restaurants and other eating places.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Data through 30 Jun 2026.
Lenders most active in Essex County
By number of approvals to businesses in the county, FY2021–FY2025; 92 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | TD Bank, National AssociationWilmington, DE | 188 | $24.3M | 21.1% | |
| 2 | Manufacturers and Traders Trust CompanyBuffalo, NY | 104 | $7.6M | 11.7% | |
| 3 | The Huntington National BankColumbus, OH | 50 | $13.4M | 5.6% | |
| 4 | Northeast BankLewiston, ME | 44 | $6.6M | 4.9% | |
| 5 | Newtek Bank, National AssociationMiami, FL | 32 | $10.0M | 3.6% | |
| 6 | Readycap Lending, LLCBerkeley Heights, NJ | 31 | $16.7M | 3.5% | |
| 7 | BayFirst National BankSaint Petersburg, FL | 31 | $4.0M | 3.5% | |
| 8 | JPMorgan Chase Bank, National AssociationColumbus, OH | 30 | $6.5M | 3.4% | |
| 9 | Wells Fargo Bank National AssociationSioux Falls, SD | 28 | $3.5M | 3.1% | |
| 10 | PNC Bank, National AssociationWilmington, DE | 23 | $2.3M | 2.6% | |
| 11 | Live Oak Banking CompanyWilmington, NC | 21 | $40.8M | 2.4% | |
| 12 | Trenton Business Assistance CorporationPrinceton, NJ · CDC | 18 | $14.3M | 2.0% | |
| 13 | Peapack Private Bank and TrustBedminster, NJ | 15 | $10.6M | 1.7% | |
| 14 | Newtek Small Business Finance, Inc.Lake Success, NY | 14 | $9.4M | 1.6% | |
| 15 | Bank of America, National AssociationCharlotte, NC | 13 | $7.0M | 1.5% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 92 | 10.3% | |
| 2 | General Freight TruckingNAICS 4841 | 48 | 5.4% | |
| 3 | Personal Care ServicesNAICS 8121 | 43 | 4.8% | |
| 4 | Residential Building ConstructionNAICS 2361 | 31 | 3.5% | |
| 5 | Automotive Repair and MaintenanceNAICS 8111 | 28 | 3.1% | |
| 6 | Management, Scientific, and Technical Consulting ServicesNAICS 5416 | 26 | 2.9% | |
| 7 | Child Day Care ServicesNAICS 6244 | 25 | 2.8% | |
| 8 | Building Finishing ContractorsNAICS 2383 | 22 | 2.5% | |
| 9 | Services to Buildings and DwellingsNAICS 5617 | 22 | 2.5% | |
| 10 | Grocery StoresNAICS 4451 | 20 | 2.2% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Retail Trade | 104 | 11.7% | |
| 2 | Professional, Scientific, and Technical Services | 101 | 11.3% | |
| 3 | Other Services (except Public Administration) | 99 | 11.1% | |
| 4 | Accommodation and Food Services | 97 | 10.9% | |
| 5 | Construction | 96 | 10.8% | |
| 6 | Health Care and Social Assistance | 95 | 10.7% | |
| 7 | Transportation and Warehousing | 72 | 8.1% | |
| 8 | Wholesale Trade | 53 | 6.0% |
Approvals by fiscal year
| Fiscal year | 7(a) approvals | 7(a) dollars | Median 7(a) | 504 approvals | 504 dollars | All approvals | Jobs supported, as reported |
|---|---|---|---|---|---|---|---|
| FY2026* | 106 | $65.9M | $218K | 5 | $8.7M | 111 | 1,367 |
| FY2025 | 233 | $69.2M | $109K | 6 | $7.9M | 239 | 1,565 |
| FY2024 | 203 | $59.5M | $150K | 6 | $4.3M | 209 | 1,610 |
| FY2023 | 185 | $62.8M | $100K | 8 | $8.1M | 193 | 1,749 |
| FY2022 | 107 | $44.8M | $95K | 7 | $8.1M | 114 | 803 |
| FY2021 | 127 | $86.2M | $436K | 8 | $11.5M | 135 | 1,298 |
| FY2020 | 67 | $18.4M | $100K | 9 | $9.9M | 76 | 442 |
| FY2019 | 140 | $60.1M | $100K | 5 | $6.6M | 145 | 1,068 |
| FY2018 | 165 | $69.6M | $100K | 3 | $1.5M | 168 | 1,207 |
| FY2017 | 175 | $55.2M | $110K | 8 | $8.2M | 183 | 1,420 |
| FY2016 | 112 | $46.1M | $105K | 7 | $6.5M | 119 | 1,030 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 691 approvals.
Against New Jersey and the country
| FY2021–FY2025 | Essex County | New Jersey | United States |
|---|---|---|---|
| Approvals | 890 | 11,132 | 342,825 |
| Approvals per 1,000 establishments | 45.9 | 46.8 | 41.0 |
| Median 7(a) approval | $139K | $150K | $190K |
| Median 504 approval | $657K | $952K | $657K |
| Average approval | $407K | $508K | $573K |
| 504 share of approvals | 3.9% | 4.9% | 11.0% |
| Jobs supported per approval, as reported | 7.9 | 9.2 | 10.5 |
| Share of state approvals | 8.0% | 100.0% | — |
Approval sizes
- $50,000 or less29.9%266
- $50,001 to $150,00025.7%229
- $150,001 to $350,00016.3%145
- $350,001 to $1 million17.5%156
- $1 million to $2 million6.7%60
- Over $2 million3.8%34
Age of the businesses
- Existing, more than 2 years old64.4%573
- New business, 2 years or less17.3%154
- Startup, loan funds will open the business12.5%111
- Change of ownership5.7%51
- Not answered0.1%1
Questions and answers
Which lenders make the most SBA loans in Essex County?
By approvals in FY2021 to FY2025: TD Bank, National Association (188), Manufacturers and Traders Trust Company (104), The Huntington National Bank (50), Northeast Bank (44), Newtek Bank, National Association (32). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Essex County?
The median 7(a) approval was $139K and the median 504 approval $657K; the New Jersey 7(a) median was $150K.
Which industries get the most SBA loans in Essex County?
Restaurants and Other Eating Places (92); General Freight Trucking (48); Personal Care Services (43); Residential Building Construction (31); Automotive Repair and Maintenance (28).
Is SBA lending in Essex County rising?
Approvals in the three latest complete fiscal years total 641, against 325 in the three before: rising (+97%).
How does Essex County compare with the rest of New Jersey?
45.9 approvals per 1,000 establishments against 46.8 statewide, and 890 of the state's 11,132 approvals.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Establishment counts are from the Census Bureau's County Business Patterns 2023, which leaves out most farms, government and businesses without employees. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error