Lenders › ConnectOne Bank
7(a) lenderEnglewood Cliffs, New JerseyFDIC-insured bank211th of 2,184 by approvals
ConnectOne Bank
SBA 7(a) loan approvals by fiscal year, where they went, how large they were, and how loans from earlier years turned out.
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.
ConnectOne Bank (Englewood Cliffs, New Jersey) is an FDIC-insured bank in the SBA 7(a) program, 211th of 2,184 by approvals in FY2021 to FY2025: 181 loans worth $159M.
In FY2025, the latest complete fiscal year, it had 67 approvals totalling $53.6M, up 148% on FY2024 (27). FY2026 to 30 Jun 2026 adds 44 more.
The median approval was $577K, against $190K for the 7(a) program as a whole; 4.4% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 29 states and territories and 107 counties, led by New Jersey (23.2%), New York (18.2%) and Florida (9.4%). The largest industry group was accommodation and food services at 34.8% of approvals, and 58.6% of approvals were to franchise businesses.
Of 53 disbursed loans approved in FY2010 to FY2021, SBA records 0 as charged off (0.0%), 38 as paid in full and 15 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below it.
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. Loans appear under the lender they are assigned to today, so a lender's figures include loans it took over. Data through 30 Jun 2026.
Approvals by fiscal year
| Fiscal year | Approvals | Dollars approved | Median approval | Average approval | Jobs supported, as reported |
|---|---|---|---|---|---|
| FY2026* | 44 | $45.1M | $767K | $1.0M | 726 |
| FY2025 | 67 | $53.6M | $520K | $799K | 1,155 |
| FY2024 | 27 | $33.3M | $650K | $1.2M | 784 |
| FY2023 | 41 | $40.4M | $740K | $985K | 768 |
| FY2022 | 25 | $17.5M | $510K | $698K | 312 |
| FY2021 | 21 | $14.0M | $490K | $667K | 226 |
| FY2020 | 11 | $7.2M | $319K | $655K | 240 |
| FY2019 | 2 | — | — | — | 10 |
| FY2018 | 16 | $2.6M | $113K | $159K | 167 |
| FY2017 | 6 | $680K | $65K | $113K | 36 |
| FY2016 | 1 | — | — | — | 4 |
Approvals are counted in the year SBA approved them and include approvals later cancelled. In the five fiscal years before the current window (FY2016–FY2020) the lender had 36 approvals. First approval on file: FY2014.
How earlier loans turned out
Only loans approved at least five fiscal years ago (FY2010–FY2021) are counted, because newer loans have had little time to be paid in full or charged off. "Charged off" is SBA's status for a loan on which it has written off the remaining balance.
| Loans approved FY2010–FY2021 | This lender | New Jersey | 7(a) program |
|---|---|---|---|
| Approvals in these years | 60 | 17,926 | 639,905 |
| Cancelled or never disbursed | 7 | 2,711 | 79,313 |
| Disbursed loans | 53 | 15,215 | 560,592 |
| Paid in full | 38 | 11,117 | 435,813 |
| Charged off | 0 | 1,263 | 36,891 |
| Still outstanding (status exempt from disclosure) | 15 | 2,835 | 87,888 |
| Charged off, share of disbursed loans | 0.0% | 8.3% | 6.6% |
| Dollars charged off, share of disbursed dollars | 0.0% | 2.6% | 2.5% |
| Dollars charged off | $0 | $172M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 20 | 10 | 0 | — | 2.8% |
| FY2020 | 8 | 6 | 0 | — | 4.0% |
| FY2019 | 2 | 2 | 0 | — | 6.7% |
| FY2018 | 16 | 13 | 0 | — | 7.9% |
| FY2017 | 5 | 5 | 0 | — | 7.7% |
| FY2016 | 1 | 1 | 0 | — | 7.2% |
| FY2015 | 0 | 0 | 0 | — | 6.9% |
| FY2014 | 1 | 1 | 0 | — | 6.4% |
| FY2013 | 0 | 0 | 0 | — | 6.0% |
| FY2012 | 0 | 0 | 0 | — | 6.3% |
| FY2011 | 0 | 0 | 0 | — | 6.9% |
| FY2010 | 0 | 0 | 0 | — | 9.2% |
A share is shown only where at least 30 loans from that year were disbursed.
Against the 7(a) program
| FY2021–FY2025 | This lender | 7(a) program |
|---|---|---|
| Median approval | $577K | $190K |
| Average approval | $877K | $518K |
| Approvals of $150,000 or less | 4.4% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 63.5% | 34.3% |
| Approvals to franchise businesses | 58.6% | 11.5% |
| Jobs supported per approval, as reported | 17.9 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 0.0% | 6.6% |
States served
| # | State of the business (29 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | New Jersey | 42 | $44.2M | 23.2% | |
| 2 | New York | 33 | $42.2M | 18.2% | |
| 3 | Florida | 17 | $10.5M | 9.4% | |
| 4 | North Carolina | 15 | $7.8M | 8.3% | |
| 5 | Texas | 12 | $10.4M | 6.6% | |
| 6 | Georgia | 10 | $7.1M | 5.5% | |
| 7 | California | 7 | $5.4M | 3.9% | |
| 8 | Tennessee | 4 | $2.8M | 2.2% | |
| 9 | Pennsylvania | 4 | $2.7M | 2.2% | |
| 10 | Virginia | 4 | $2.1M | 2.2% | |
| 11 | Connecticut | 3 | $6.8M | 1.7% | |
| 12 | Delaware | 3 | $3.1M | 1.7% |
In New Jersey the lender accounts for 0.4% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (107 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Bergen County, NJ | 10 | $12.7M | 5.5% | |
| 2 | New York County, NY | 9 | $10.9M | 5.0% | |
| 3 | Wake County, NC | 7 | $3.9M | 3.9% | |
| 4 | Middlesex County, NJ | 6 | $5.9M | 3.3% | |
| 5 | Suffolk County, NY | 5 | $8.7M | 2.8% | |
| 6 | Passaic County, NJ | 5 | $6.0M | 2.8% | |
| 7 | Rockland County, NY | 4 | $4.9M | 2.2% | |
| 8 | Nassau County, NY | 4 | $1.9M | 2.2% | |
| 9 | Union County, NJ | 4 | $1.6M | 2.2% | |
| 10 | Kings County, NY | 3 | $5.9M | 1.7% | |
| 11 | Mercer County, NJ | 3 | $3.3M | 1.7% | |
| 12 | Los Angeles County, CA | 3 | $2.5M | 1.7% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 63 | 34.8% | |
| 2 | Retail Trade | 37 | 20.4% | |
| 3 | Other Services (except Public Administration) | 30 | 16.6% | |
| 4 | Health Care and Social Assistance | 9 | 5.0% | |
| 5 | Arts, Entertainment, and Recreation | 8 | 4.4% | |
| 6 | Wholesale Trade | 6 | 3.3% | |
| 7 | Professional, Scientific, and Technical Services | 6 | 3.3% | |
| 8 | Administrative and Support and Waste Management and Remediation Services | 6 | 3.3% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 60 | 33.1% | |
| 2 | Automotive Repair and MaintenanceNAICS 8111 | 17 | 9.4% | |
| 3 | Other Personal ServicesNAICS 8129 | 9 | 5.0% | |
| 4 | Other Miscellaneous RetailersNAICS 4599 | 8 | 4.4% | |
| 5 | Other Amusement and Recreation IndustriesNAICS 7139 | 8 | 4.4% | |
| 6 | Beer, Wine, and Liquor StoresNAICS 4453 | 7 | 3.9% | |
| 7 | Grocery StoresNAICS 4451 | 6 | 3.3% | |
| 8 | Other Miscellaneous Store RetailersNAICS 4539 | 5 | 2.8% | |
| 9 | Waste CollectionNAICS 5621 | 3 | 1.7% | |
| 10 | Services to Buildings and DwellingsNAICS 5617 | 3 | 1.7% |
Approval sizes
- $50,000 or less1.7%3
- $50,001 to $150,0002.8%5
- $150,001 to $350,00013.3%24
- $350,001 to $1 million61.9%112
- $1 million to $2 million11.0%20
- Over $2 million9.4%17
Loan terms
- Over 5 to 10 years34.8%63
- Over 10 to 20 years46.4%84
- Over 20 years18.8%34
Age of the businesses
- Existing, more than 2 years old25.4%46
- New business, 2 years or less8.3%15
- Startup, loan funds will open the business55.2%100
- Change of ownership11.0%20
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 152 | 84.0% | |
| 2 | 7a General | 17 | 9.4% | |
| 3 | SBA Express Program | 10 | 5.5% | |
| 4 | International Trade Loans | 2 | 1.1% |
Franchise share
106 of 181 approvals in FY2021–FY2025 (58.6%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Playa Bowls | 10 | 5.5% | |
| 2 | Batteries Plus | 9 | 5.0% | |
| 3 | Scenthound | 8 | 4.4% | |
| 4 | Tint World | 7 | 3.9% | |
| 5 | Tropical Smoothie Cafe | 6 | 3.3% | |
| 6 | Meineke Car Care Center | 6 | 3.3% | |
| 7 | Pet Supplies Plus | 5 | 2.8% | |
| 8 | Duck Donuts | 5 | 2.8% |
Questions and answers
How many SBA loans does ConnectOne Bank make?
SBA approved 67 7(a) loans through ConnectOne Bank in FY2025, worth $53.6M, and 181 over FY2021 to FY2025. That ranks 211th of 2,184 active 7(a) lenders by number of approvals.
How large are ConnectOne Bank's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $577K and the average $877K. The program-wide median was $190K.
What is ConnectOne Bank's charge-off rate?
Of 53 disbursed loans approved in FY2010 to FY2021, SBA records 0 as charged off (0.0%), 38 as paid in full and 15 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below it. Loans are listed under the lender that holds them today, so the figure includes loans taken over from other lenders. Status is as recorded by SBA on 30 Jun 2026.
Which industries does ConnectOne Bank lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (60); automotive repair and maintenance (17); other personal services (9); other miscellaneous retailers (8).
Where does ConnectOne Bank make SBA loans?
In 29 states and territories. New Jersey 42, New York 33, Florida 17, North Carolina 15, Texas 12. In New Jersey it accounts for 0.4% of all 7(a) approvals.
Is ConnectOne Bank's SBA lending rising?
Approvals in the three latest complete fiscal years total 135, against 57 in the three before: rising (+137%).
Where does this data come from?
From the Small Business Administration's 7(a) and 504 FOIA loan files, as of 30 Jun 2026. Borrower names and addresses in those files are discarded when the files are read and appear nowhere on this site.
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. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error