Lenders › Cross River Bank
7(a) lenderFort Lee, New JerseyFDIC-insured bank308th of 2,184 by approvals
Cross River 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.
Cross River Bank, based in Fort Lee, New Jersey, is an FDIC-insured bank in the SBA 7(a) program. SBA approved 104 of its 7(a) loans worth $147M in FY2021 to FY2025, which places it 308th of 2,184 active 7(a) lenders by number of approvals.
In FY2025, the latest complete fiscal year, it had 13 approvals totalling $13.5M. FY2026 to 30 Jun 2026 adds 15 more.
The median approval was $865K, against $190K for the 7(a) program as a whole; 1.0% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 10 states and territories and 31 counties, led by New York (52.9%), New Jersey (25.0%) and Florida (11.5%). The largest industry group was retail trade at 25.0% of approvals, and 1.0% of approvals were to franchise businesses.
Of 169 disbursed loans approved in FY2010 to FY2021, SBA records 5 as charged off (3.0%), 125 as paid in full and 39 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* | 15 | $35.2M | $1.9M | $2.3M | 90 |
| FY2025 | 13 | $13.5M | $629K | $1.0M | 185 |
| FY2024 | 9 | $12.0M | $663K | $1.3M | 303 |
| FY2023 | 24 | $35.4M | $903K | $1.5M | 412 |
| FY2022 | 28 | $46.0M | $1.1M | $1.6M | 474 |
| FY2021 | 30 | $40.1M | $977K | $1.3M | 638 |
| FY2020 | 13 | $21.2M | $950K | $1.6M | 166 |
| FY2019 | 18 | $15.9M | $350K | $886K | 307 |
| FY2018 | 17 | $17.1M | $638K | $1.0M | 183 |
| FY2017 | 13 | $12.9M | $893K | $989K | 219 |
| FY2016 | 21 | $17.3M | $700K | $824K | 483 |
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 82 approvals. First approval on file: FY2011.
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 York | 7(a) program |
|---|---|---|---|
| Approvals in these years | 191 | 39,899 | 639,905 |
| Cancelled or never disbursed | 22 | 5,223 | 79,313 |
| Disbursed loans | 169 | 34,676 | 560,592 |
| Paid in full | 125 | 26,873 | 435,813 |
| Charged off | 5 | 2,802 | 36,891 |
| Still outstanding (status exempt from disclosure) | 39 | 5,001 | 87,888 |
| Charged off, share of disbursed loans | 3.0% | 8.1% | 6.6% |
| Dollars charged off, share of disbursed dollars | 1.9% | 3.2% | 2.5% |
| Dollars charged off | $3.2M | $312M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 26 | 11 | 1 | — | 2.8% |
| FY2020 | 11 | 5 | 0 | — | 4.0% |
| FY2019 | 15 | 10 | 1 | — | 6.7% |
| FY2018 | 13 | 6 | 1 | — | 7.9% |
| FY2017 | 12 | 8 | 0 | — | 7.7% |
| FY2016 | 19 | 18 | 0 | — | 7.2% |
| FY2015 | 24 | 21 | 0 | — | 6.9% |
| FY2014 | 18 | 15 | 2 | — | 6.4% |
| FY2013 | 12 | 12 | 0 | — | 6.0% |
| FY2012 | 16 | 16 | 0 | — | 6.3% |
| FY2011 | 3 | 3 | 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 | $865K | $190K |
| Average approval | $1.4M | $518K |
| Approvals of $150,000 or less | 1.0% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 21.2% | 34.3% |
| Approvals to franchise businesses | 1.0% | 11.5% |
| Jobs supported per approval, as reported | 19.3 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 3.0% | 6.6% |
States served
| # | State of the business (10 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | New York | 55 | $65.4M | 52.9% | |
| 2 | New Jersey | 26 | $43.6M | 25.0% | |
| 3 | Florida | 12 | $28.6M | 11.5% | |
| 4 | Michigan | 2 | — | 1.9% | |
| 5 | North Carolina | 2 | — | 1.9% | |
| 6 | California | 2 | — | 1.9% | |
| 7 | Washington | 2 | — | 1.9% | |
| 8 | Connecticut | 1 | — | 1.0% | |
| 9 | Texas | 1 | — | 1.0% | |
| 10 | Wyoming | 1 | — | 1.0% |
In New York the lender accounts for 0.3% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (31 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Kings County, NY | 20 | $30.6M | 19.2% | |
| 2 | Orange County, NY | 13 | $10.0M | 12.5% | |
| 3 | Ocean County, NJ | 10 | $16.6M | 9.6% | |
| 4 | Nassau County, NY | 9 | $9.0M | 8.7% | |
| 5 | Rockland County, NY | 7 | $6.9M | 6.7% | |
| 6 | Middlesex County, NJ | 5 | $4.1M | 4.8% | |
| 7 | Passaic County, NJ | 4 | $7.2M | 3.8% | |
| 8 | Broward County, FL | 3 | $5.9M | 2.9% | |
| 9 | Lee County, FL | 3 | $4.3M | 2.9% | |
| 10 | Orange County, FL | 2 | — | 1.9% | |
| 11 | Union County, NJ | 2 | — | 1.9% | |
| 12 | St. Joseph County, MI | 2 | — | 1.9% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Retail Trade | 26 | 25.0% | |
| 2 | Wholesale Trade | 17 | 16.3% | |
| 3 | Construction | 14 | 13.5% | |
| 4 | Manufacturing | 7 | 6.7% | |
| 5 | Professional, Scientific, and Technical Services | 7 | 6.7% | |
| 6 | Other Services (except Public Administration) | 7 | 6.7% | |
| 7 | Administrative and Support and Waste Management and Remediation Services | 6 | 5.8% | |
| 8 | Health Care and Social Assistance | 6 | 5.8% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Lumber and Other Construction Materials Merchant WholesalersNAICS 4233 | 7 | 6.7% | |
| 2 | Other Specialty Trade ContractorsNAICS 2389 | 6 | 5.8% | |
| 3 | Electronic Shopping and Mail-Order HousesNAICS 4541 | 6 | 5.8% | |
| 4 | Grocery StoresNAICS 4451 | 5 | 4.8% | |
| 5 | Miscellaneous Durable Goods Merchant WholesalersNAICS 4239 | 5 | 4.8% | |
| 6 | Direct Selling EstablishmentsNAICS 4543 | 5 | 4.8% | |
| 7 | Death Care ServicesNAICS 8122 | 4 | 3.8% | |
| 8 | Specialized Design ServicesNAICS 5414 | 3 | 2.9% | |
| 9 | Highway, Street, and Bridge ConstructionNAICS 2373 | 3 | 2.9% | |
| 10 | Restaurants and Other Eating PlacesNAICS 7225 | 3 | 2.9% |
Approval sizes
- $50,001 to $150,0001.0%1
- $150,001 to $350,00032.7%34
- $350,001 to $1 million26.0%27
- $1 million to $2 million13.5%14
- Over $2 million26.9%28
Loan terms
- 5 years or less1.0%1
- Over 5 to 10 years65.4%68
- Over 10 to 20 years6.7%7
- Over 20 years26.9%28
Age of the businesses
- Existing, more than 2 years old76.0%79
- New business, 2 years or less12.5%13
- Startup, loan funds will open the business8.7%9
- Change of ownership2.9%3
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 84 | 80.8% | |
| 2 | 7a General | 13 | 12.5% | |
| 3 | SBA Express Program | 7 | 6.7% |
Franchise share
1 of 104 approvals in FY2021–FY2025 (1.0%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | The Grounds Guys | 1 | 1.0% |
Questions and answers
How many SBA loans does Cross River Bank make?
SBA approved 13 7(a) loans through Cross River Bank in FY2025, worth $13.5M, and 104 over FY2021 to FY2025. That ranks 308th of 2,184 active 7(a) lenders by number of approvals.
How large are Cross River Bank's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $865K and the average $1.4M. The program-wide median was $190K.
What is Cross River Bank's charge-off rate?
Of 169 disbursed loans approved in FY2010 to FY2021, SBA records 5 as charged off (3.0%), 125 as paid in full and 39 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 Cross River Bank lend to most?
By number of approvals in FY2021 to FY2025: lumber and other construction materials merchant wholesalers (7); other specialty trade contractors (6); electronic shopping and mail-order houses (6); grocery stores (5).
Where does Cross River Bank make SBA loans?
In 10 states and territories. New York 55, New Jersey 26, Florida 12, Michigan 2, North Carolina 2. In New York it accounts for 0.3% of all 7(a) approvals.
Is Cross River Bank's SBA lending rising?
Approvals in the three latest complete fiscal years total 46, against 71 in the three before: falling (-35%).
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