Lenders › Financial Resources Federal Credit Union
7(a) lenderBranchburg, New Jerseycredit union382nd of 2,184 by approvals
Financial Resources Federal Credit Union
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.
In FY2021 to FY2025 SBA approved 77 7(a) loans, worth $123M, through Financial Resources Federal Credit Union of Branchburg, New Jersey, a credit union in the SBA 7(a) program. By number of approvals that is 382nd among 2,184 active 7(a) lenders.
In FY2025, the latest complete fiscal year, it had 18 approvals totalling $22.4M, up 13% on FY2024 (16). FY2026 to 30 Jun 2026 adds 17 more.
The median approval was $1.1M, against $190K for the 7(a) program as a whole; 1.3% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 4 states and territories and 31 counties, led by New Jersey (64.9%), Pennsylvania (23.4%) and New York (10.4%). The largest industry group was retail trade at 36.4% of approvals, and 3.9% of approvals were to franchise businesses.
Of 121 disbursed loans approved in FY2010 to FY2021, SBA records 17 as charged off (14.0%), 67 as paid in full and 37 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is above 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* | 17 | $29.8M | $1.2M | $1.8M | 331 |
| FY2025 | 18 | $22.4M | $530K | $1.2M | 131 |
| FY2024 | 16 | $23.5M | $1.1M | $1.5M | 253 |
| FY2023 | 20 | $25.9M | $1.2M | $1.3M | 314 |
| FY2022 | 7 | $8.2M | $396K | $1.2M | 120 |
| FY2021 | 16 | $42.9M | $3.0M | $2.7M | 593 |
| FY2020 | 13 | $20.3M | $900K | $1.6M | 244 |
| FY2019 | 8 | $5.6M | $646K | $703K | 112 |
| FY2018 | 13 | $3.8M | $165K | $293K | 245 |
| FY2017 | 12 | $8.3M | $276K | $695K | 319 |
| FY2016 | 31 | $17.8M | $225K | $573K | 682 |
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 77 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 Jersey | 7(a) program |
|---|---|---|---|
| Approvals in these years | 156 | 17,926 | 639,905 |
| Cancelled or never disbursed | 35 | 2,711 | 79,313 |
| Disbursed loans | 121 | 15,215 | 560,592 |
| Paid in full | 67 | 11,117 | 435,813 |
| Charged off | 17 | 1,263 | 36,891 |
| Still outstanding (status exempt from disclosure) | 37 | 2,835 | 87,888 |
| Charged off, share of disbursed loans | 14.0% | 8.3% | 6.6% |
| Dollars charged off, share of disbursed dollars | 4.1% | 2.6% | 2.5% |
| Dollars charged off | $4.1M | $172M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 15 | 4 | 0 | — | 2.8% |
| FY2020 | 12 | 4 | 0 | — | 4.0% |
| FY2019 | 7 | 0 | 2 | — | 6.7% |
| FY2018 | 8 | 4 | 1 | — | 7.9% |
| FY2017 | 11 | 6 | 0 | — | 7.7% |
| FY2016 | 23 | 15 | 4 | — | 7.2% |
| FY2015 | 9 | 8 | 0 | — | 6.9% |
| FY2014 | 5 | 2 | 3 | — | 6.4% |
| FY2013 | 11 | 11 | 0 | — | 6.0% |
| FY2012 | 7 | 7 | 0 | — | 6.3% |
| FY2011 | 13 | 6 | 7 | — | 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 | $1.1M | $190K |
| Average approval | $1.6M | $518K |
| Approvals of $150,000 or less | 1.3% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 33.8% | 34.3% |
| Approvals to franchise businesses | 3.9% | 11.5% |
| Jobs supported per approval, as reported | 18.3 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 14.0% | 6.6% |
States served
| # | State of the business (4 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | New Jersey | 50 | $77.1M | 64.9% | |
| 2 | Pennsylvania | 18 | $25.3M | 23.4% | |
| 3 | New York | 8 | $19.1M | 10.4% | |
| 4 | Illinois | 1 | — | 1.3% |
In New Jersey the lender accounts for 0.5% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (31 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Middlesex County, NJ | 11 | $16.6M | 14.3% | |
| 2 | Passaic County, NJ | 5 | $11.2M | 6.5% | |
| 3 | Bucks County, PA | 5 | $9.9M | 6.5% | |
| 4 | Essex County, NJ | 5 | $4.8M | 6.5% | |
| 5 | Delaware County, PA | 4 | $3.8M | 5.2% | |
| 6 | Bergen County, NJ | 3 | $8.4M | 3.9% | |
| 7 | Morris County, NJ | 3 | $5.7M | 3.9% | |
| 8 | Cumberland County, NJ | 3 | $4.7M | 3.9% | |
| 9 | Lehigh County, PA | 3 | $3.0M | 3.9% | |
| 10 | Mercer County, NJ | 3 | $935K | 3.9% | |
| 11 | Queens County, NY | 2 | — | 2.6% | |
| 12 | Camden County, NJ | 2 | — | 2.6% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Retail Trade | 28 | 36.4% | |
| 2 | Construction | 8 | 10.4% | |
| 3 | Accommodation and Food Services | 7 | 9.1% | |
| 4 | Health Care and Social Assistance | 6 | 7.8% | |
| 5 | Manufacturing | 5 | 6.5% | |
| 6 | Other Services (except Public Administration) | 5 | 6.5% | |
| 7 | Wholesale Trade | 4 | 5.2% | |
| 8 | Administrative and Support and Waste Management and Remediation Services | 4 | 5.2% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Beer, Wine, and Liquor StoresNAICS 4453 | 7 | 9.1% | |
| 2 | Other Miscellaneous RetailersNAICS 4599 | 7 | 9.1% | |
| 3 | Restaurants and Other Eating PlacesNAICS 7225 | 7 | 9.1% | |
| 4 | Utility System ConstructionNAICS 2371 | 4 | 5.2% | |
| 5 | Specialty Food StoresNAICS 4452 | 4 | 5.2% | |
| 6 | Building Equipment ContractorsNAICS 2382 | 3 | 3.9% | |
| 7 | Grocery StoresNAICS 4451 | 3 | 3.9% | |
| 8 | Pharmaceutical and Medicine ManufacturingNAICS 3254 | 2 | 2.6% | |
| 9 | Child Day Care ServicesNAICS 6244 | 2 | 2.6% | |
| 10 | Glass and Glass Product ManufacturingNAICS 3272 | 2 | 2.6% |
Approval sizes
- $50,001 to $150,0001.3%1
- $150,001 to $350,00016.9%13
- $350,001 to $1 million31.2%24
- $1 million to $2 million26.0%20
- Over $2 million24.7%19
Loan terms
- Over 5 to 10 years46.8%36
- Over 10 to 20 years9.1%7
- Over 20 years44.2%34
Age of the businesses
- Existing, more than 2 years old61.0%47
- New business, 2 years or less13.0%10
- Startup, loan funds will open the business20.8%16
- Change of ownership5.2%4
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 72 | 93.5% | |
| 2 | SBA Express Program | 4 | 5.2% | |
| 3 | International Trade Loans | 1 | 1.3% |
Franchise share
3 of 77 approvals in FY2021–FY2025 (3.9%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | K9 Resorts Luxury Pet Hotel | 1 | 1.3% | |
| 2 | The Gravity Vault | 1 | 1.3% | |
| 3 | The UPS Store | 1 | 1.3% |
Questions and answers
How many SBA loans does Financial Resources Federal Credit Union make?
SBA approved 18 7(a) loans through Financial Resources Federal Credit Union in FY2025, worth $22.4M, and 77 over FY2021 to FY2025. That ranks 382nd of 2,184 active 7(a) lenders by number of approvals.
How large are Financial Resources Federal Credit Union's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $1.1M and the average $1.6M. The program-wide median was $190K.
What is Financial Resources Federal Credit Union's charge-off rate?
Of 121 disbursed loans approved in FY2010 to FY2021, SBA records 17 as charged off (14.0%), 67 as paid in full and 37 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is above 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 Financial Resources Federal Credit Union lend to most?
By number of approvals in FY2021 to FY2025: beer, wine, and liquor stores (7); other miscellaneous retailers (7); restaurants and other eating places (7); utility system construction (4).
Where does Financial Resources Federal Credit Union make SBA loans?
In 4 states and territories. New Jersey 50, Pennsylvania 18, New York 8, Illinois 1. In New Jersey it accounts for 0.5% of all 7(a) approvals.
Is Financial Resources Federal Credit Union's SBA lending rising?
Approvals in the three latest complete fiscal years total 54, against 36 in the three before: rising (+50%).
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