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County6th of 21 in New Jersey by approvalsFIPS 34039
SBA loans in Union 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.
SBA approved 720 loans to businesses in Union County, New Jersey, in FY2021 to FY2025, worth $401M: 676 under 7(a) and 44 under 504.
That is 50.4 approvals per 1,000 business establishments (14,276 establishments in 2023), close to the New Jersey figure of 46.8 and above the national 41.0.
It ranks 6th of 21 New Jersey counties with approvals. In FY2025 there were 207, up 15% on FY2024.
82 lenders had approvals here; the most active were TD Bank, National Association (182), Manufacturers and Traders Trust Company (49) and Northeast Bank (31). 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 Union County
By number of approvals to businesses in the county, FY2021–FY2025; 82 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | TD Bank, National AssociationWilmington, DE | 182 | $23.5M | 25.3% | |
| 2 | Manufacturers and Traders Trust CompanyBuffalo, NY | 49 | $5.6M | 6.8% | |
| 3 | Northeast BankLewiston, ME | 31 | $5.1M | 4.3% | |
| 4 | Newtek Bank, National AssociationMiami, FL | 27 | $14.1M | 3.8% | |
| 5 | Trenton Business Assistance CorporationPrinceton, NJ · CDC | 26 | $42.8M | 3.6% | |
| 6 | The Huntington National BankColumbus, OH | 26 | $10.3M | 3.6% | |
| 7 | JPMorgan Chase Bank, National AssociationColumbus, OH | 24 | $10.2M | 3.3% | |
| 8 | Readycap Lending, LLCBerkeley Heights, NJ | 24 | $10.1M | 3.3% | |
| 9 | Wells Fargo Bank National AssociationSioux Falls, SD | 21 | $4.2M | 2.9% | |
| 10 | Live Oak Banking CompanyWilmington, NC | 20 | $29.1M | 2.8% | |
| 11 | BayFirst National BankSaint Petersburg, FL | 17 | $3.1M | 2.4% | |
| 12 | Empire State Certified Development CorporationLatham, NY · CDC | 15 | $29.1M | 2.1% | |
| 13 | Santander Bank, National AssociationWilmington, DE | 15 | $988K | 2.1% | |
| 14 | FinWise BankSandy, UT | 14 | $23.0M | 1.9% | |
| 15 | Provident BankJersey City, NJ | 12 | $10.0M | 1.7% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 47 | 6.5% | |
| 2 | General Freight TruckingNAICS 4841 | 45 | 6.3% | |
| 3 | Residential Building ConstructionNAICS 2361 | 30 | 4.2% | |
| 4 | Personal Care ServicesNAICS 8121 | 25 | 3.5% | |
| 5 | Services to Buildings and DwellingsNAICS 5617 | 20 | 2.8% | |
| 6 | Automotive Repair and MaintenanceNAICS 8111 | 19 | 2.6% | |
| 7 | Building Equipment ContractorsNAICS 2382 | 17 | 2.4% | |
| 8 | Grocery and Related Product Merchant WholesalersNAICS 4244 | 17 | 2.4% | |
| 9 | Foundation, Structure, and Building Exterior ContractorsNAICS 2381 | 16 | 2.2% | |
| 10 | Child Day Care ServicesNAICS 6244 | 15 | 2.1% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 97 | 13.5% | |
| 2 | Retail Trade | 86 | 11.9% | |
| 3 | Other Services (except Public Administration) | 83 | 11.5% | |
| 4 | Transportation and Warehousing | 72 | 10.0% | |
| 5 | Health Care and Social Assistance | 64 | 8.9% | |
| 6 | Accommodation and Food Services | 62 | 8.6% | |
| 7 | Manufacturing | 57 | 7.9% | |
| 8 | Professional, Scientific, and Technical Services | 52 | 7.2% |
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* | 104 | $51.6M | $150K | 5 | $7.3M | 109 | 897 |
| FY2025 | 202 | $90.4M | $250K | 5 | $11.4M | 207 | 2,025 |
| FY2024 | 171 | $71.2M | $140K | 9 | $18.1M | 180 | 1,515 |
| FY2023 | 138 | $62.8M | $118K | 9 | $9.8M | 147 | 1,175 |
| FY2022 | 98 | $50.9M | $150K | 12 | $20.4M | 110 | 1,137 |
| FY2021 | 67 | $53.3M | $525K | 9 | $13.2M | 76 | 704 |
| FY2020 | 69 | $36.6M | $150K | 2 | — | 71 | 717 |
| FY2019 | 123 | $41.3M | $100K | 2 | — | 125 | 690 |
| FY2018 | 113 | $41.5M | $90K | 2 | — | 115 | 643 |
| FY2017 | 135 | $59.8M | $140K | 9 | $5.7M | 144 | 986 |
| FY2016 | 97 | $45.5M | $225K | 2 | — | 99 | 766 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 554 approvals.
Against New Jersey and the country
| FY2021–FY2025 | Union County | New Jersey | United States |
|---|---|---|---|
| Approvals | 720 | 11,132 | 342,825 |
| Approvals per 1,000 establishments | 50.4 | 46.8 | 41.0 |
| Median 7(a) approval | $150K | $150K | $190K |
| Median 504 approval | $1.3M | $952K | $657K |
| Average approval | $557K | $508K | $573K |
| 504 share of approvals | 6.1% | 4.9% | 11.0% |
| Jobs supported per approval, as reported | 9.1 | 9.2 | 10.5 |
| Share of state approvals | 6.5% | 100.0% | — |
Approval sizes
- $50,000 or less22.2%160
- $50,001 to $150,00025.6%184
- $150,001 to $350,00017.1%123
- $350,001 to $1 million20.1%145
- $1 million to $2 million7.8%56
- Over $2 million7.2%52
Age of the businesses
- Existing, more than 2 years old63.7%459
- New business, 2 years or less16.1%116
- Startup, loan funds will open the business11.4%82
- Change of ownership8.6%62
- Not answered0.1%1
Questions and answers
Which lenders make the most SBA loans in Union County?
By approvals in FY2021 to FY2025: TD Bank, National Association (182), Manufacturers and Traders Trust Company (49), Northeast Bank (31), Newtek Bank, National Association (27), Trenton Business Assistance Corporation (26). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Union County?
The median 7(a) approval was $150K and the median 504 approval $1.3M; the New Jersey 7(a) median was $150K.
Which industries get the most SBA loans in Union County?
Restaurants and Other Eating Places (47); General Freight Trucking (45); Residential Building Construction (30); Personal Care Services (25); Services to Buildings and Dwellings (20).
Is SBA lending in Union County rising?
Approvals in the three latest complete fiscal years total 534, against 257 in the three before: rising (+108%).
How does Union County compare with the rest of New Jersey?
50.4 approvals per 1,000 establishments against 46.8 statewide, and 720 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