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County21st of 21 in New Jersey by approvalsFIPS 34033
SBA loans in Salem 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 Salem County, New Jersey, received 51 SBA loan approvals worth $32.2M in FY2021 to FY2025 (49 7(a), 2 504).
That is 44.9 approvals per 1,000 business establishments (1,137 establishments in 2023), close to the New Jersey figure of 46.8 and close to the national 41.0.
It ranks 21st of 21 New Jersey counties with approvals. In FY2025 there were 14.
22 lenders had approvals here; the most active were TD Bank, National Association (16), Fulton Bank, National Association (4) and Wilmington Savings Fund Society FSB (3). The most common industry was residential building construction.
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 Salem County
By number of approvals to businesses in the county, FY2021–FY2025; 22 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | TD Bank, National AssociationWilmington, DE | 16 | $6.7M | 31.4% | |
| 2 | Fulton Bank, National AssociationLancaster, PA | 4 | $2.1M | 7.8% | |
| 3 | Wilmington Savings Fund Society FSBWilmington, DE | 3 | $4.1M | 5.9% | |
| 4 | Meridian BankMalvern, PA | 3 | $900K | 5.9% | |
| 5 | The First National Bank of ElmerElmer, NJ | 3 | $767K | 5.9% | |
| 6 | BayFirst National BankSaint Petersburg, FL | 3 | $347K | 5.9% | |
| 7 | Readycap Lending, LLCBerkeley Heights, NJ | 2 | — | 3.9% | |
| 8 | Trenton Business Assistance CorporationPrinceton, NJ · CDC | 2 | — | 3.9% | |
| 9 | Mid Penn BankMillersburg, PA | 2 | — | 3.9% | |
| 10 | New Millennium BankFort Lee, NJ | 1 | — | 2.0% | |
| 11 | First Internet Bank of IndianaFishers, IN | 1 | — | 2.0% | |
| 12 | First Resource BankExton, PA | 1 | — | 2.0% | |
| 13 | Parke BankSewell, NJ | 1 | — | 2.0% | |
| 14 | Newtek Bank, National AssociationMiami, FL | 1 | — | 2.0% | |
| 15 | First BankHamilton, NJ | 1 | — | 2.0% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Residential Building ConstructionNAICS 2361 | 7 | 13.7% | |
| 2 | Boiler, Tank, and Shipping Container ManufacturingNAICS 3324 | 3 | 5.9% | |
| 3 | Foundation, Structure, and Building Exterior ContractorsNAICS 2381 | 3 | 5.9% | |
| 4 | Gasoline StationsNAICS 4571 | 2 | 3.9% | |
| 5 | Household and Institutional Furniture and Kitchen Cabinet ManufacturingNAICS 3371 | 2 | 3.9% | |
| 6 | Building Equipment ContractorsNAICS 2382 | 2 | 3.9% | |
| 7 | Beverage ManufacturingNAICS 3121 | 2 | 3.9% | |
| 8 | Specialized Freight TruckingNAICS 4842 | 2 | 3.9% | |
| 9 | Plastics Product ManufacturingNAICS 3261 | 1 | 2.0% | |
| 10 | Automobile DealersNAICS 4411 | 1 | 2.0% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 13 | 25.5% | |
| 2 | Manufacturing | 10 | 19.6% | |
| 3 | Retail Trade | 6 | 11.8% | |
| 4 | Other Services (except Public Administration) | 5 | 9.8% | |
| 5 | Accommodation and Food Services | 4 | 7.8% | |
| 6 | Professional, Scientific, and Technical Services | 3 | 5.9% | |
| 7 | Transportation and Warehousing | 3 | 5.9% | |
| 8 | Educational Services | 2 | 3.9% |
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* | 13 | $6.0M | $250K | 0 | — | 13 | 59 |
| FY2025 | 14 | $10.8M | $80K | 0 | — | 14 | 42 |
| FY2024 | 8 | $5.8M | $200K | 0 | — | 8 | 57 |
| FY2023 | 9 | $6.7M | $150K | 0 | — | 9 | 52 |
| FY2022 | 10 | $3.2M | $149K | 2 | — | 12 | 110 |
| FY2021 | 8 | $3.4M | $410K | 0 | — | 8 | 62 |
| FY2020 | 6 | $2.0M | $270K | 1 | — | 7 | 43 |
| FY2019 | 3 | $185K | $30K | 0 | — | 3 | 6 |
| FY2018 | 7 | $405K | $50K | 0 | — | 7 | 6 |
| FY2017 | 8 | $1.4M | $63K | 0 | — | 8 | 33 |
| FY2016 | 5 | $932K | $69K | 0 | — | 5 | 35 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 30 approvals.
Against New Jersey and the country
| FY2021–FY2025 | Salem County | New Jersey | United States |
|---|---|---|---|
| Approvals | 51 | 11,132 | 342,825 |
| Approvals per 1,000 establishments | 44.9 | 46.8 | 41.0 |
| Median 7(a) approval | $150K | $150K | $190K |
| Median 504 approval | — | $952K | $657K |
| Average approval | $631K | $508K | $573K |
| 504 share of approvals | 3.9% | 4.9% | 11.0% |
| Jobs supported per approval, as reported | 6.3 | 9.2 | 10.5 |
| Share of state approvals | 0.5% | 100.0% | — |
Approval sizes
- $50,000 or less29.4%15
- $50,001 to $150,00025.5%13
- $150,001 to $350,00011.8%6
- $350,001 to $1 million11.8%6
- $1 million to $2 million9.8%5
- Over $2 million11.8%6
Age of the businesses
- Existing, more than 2 years old56.9%29
- New business, 2 years or less35.3%18
- Startup, loan funds will open the business5.9%3
- Change of ownership2.0%1
Questions and answers
Which lenders make the most SBA loans in Salem County?
By approvals in FY2021 to FY2025: TD Bank, National Association (16), Fulton Bank, National Association (4), Wilmington Savings Fund Society FSB (3), Meridian Bank (3), The First National Bank of Elmer (3). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Salem County?
The median 7(a) approval was $150K; the New Jersey 7(a) median was $150K.
Which industries get the most SBA loans in Salem County?
Residential Building Construction (7); Boiler, Tank, and Shipping Container Manufacturing (3); Foundation, Structure, and Building Exterior Contractors (3); Gasoline Stations (2); Household and Institutional Furniture and Kitchen Cabinet Manufacturing (2).
Is SBA lending in Salem County rising?
Approvals in the three latest complete fiscal years total 31, against 27 in the three before: rising (+15%).
How does Salem County compare with the rest of New Jersey?
44.9 approvals per 1,000 establishments against 46.8 statewide, and 51 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