Lenders › NewBank
7(a) lenderFlushing, New YorkFDIC-insured bank145th of 2,184 by approvals
NewBank
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.
NewBank (Flushing, New York) is an FDIC-insured bank in the SBA 7(a) program, 145th of 2,184 by approvals in FY2021 to FY2025: 258 loans worth $299M.
In FY2025, the latest complete fiscal year, it had 29 approvals totalling $26.1M, down 31% on FY2024 (42). FY2026 to 30 Jun 2026 adds 11 more.
The median approval was $600K, against $190K for the 7(a) program as a whole; 5.8% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 7 states and territories and 32 counties, led by New York (64.3%), New Jersey (31.4%) and Connecticut (1.9%). The largest industry group was accommodation and food services at 40.3% of approvals, and 2.3% of approvals were to franchise businesses.
Of 927 disbursed loans approved in FY2010 to FY2021, SBA records 42 as charged off (4.5%), 691 as paid in full and 194 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* | 11 | $7.3M | $440K | $665K | 92 |
| FY2025 | 29 | $26.1M | $800K | $901K | 257 |
| FY2024 | 42 | $39.0M | $500K | $929K | 469 |
| FY2023 | 50 | $48.7M | $500K | $974K | 571 |
| FY2022 | 53 | $75.1M | $690K | $1.4M | 385 |
| FY2021 | 84 | $110M | $750K | $1.3M | 1,082 |
| FY2020 | 60 | $63.5M | $513K | $1.1M | 409 |
| FY2019 | 101 | $107M | $500K | $1.1M | 523 |
| FY2018 | 114 | $113M | $595K | $994K | 661 |
| FY2017 | 159 | $150M | $550K | $941K | 1,180 |
| FY2016 | 136 | $147M | $680K | $1.1M | 901 |
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 570 approvals. First approval on file: FY2010.
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 | 1,398 | 39,899 | 639,905 |
| Cancelled or never disbursed | 471 | 5,223 | 79,313 |
| Disbursed loans | 927 | 34,676 | 560,592 |
| Paid in full | 691 | 26,873 | 435,813 |
| Charged off | 42 | 2,802 | 36,891 |
| Still outstanding (status exempt from disclosure) | 194 | 5,001 | 87,888 |
| Charged off, share of disbursed loans | 4.5% | 8.1% | 6.6% |
| Dollars charged off, share of disbursed dollars | 3.1% | 3.2% | 2.5% |
| Dollars charged off | $26.4M | $312M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 53 | 29 | 0 | 0.0% | 2.8% |
| FY2020 | 37 | 17 | 0 | 0.0% | 4.0% |
| FY2019 | 55 | 26 | 1 | 1.8% | 6.7% |
| FY2018 | 75 | 41 | 5 | 6.7% | 7.9% |
| FY2017 | 116 | 63 | 9 | 7.8% | 7.7% |
| FY2016 | 89 | 63 | 7 | 7.9% | 7.2% |
| FY2015 | 92 | 77 | 6 | 6.5% | 6.9% |
| FY2014 | 102 | 86 | 7 | 6.9% | 6.4% |
| FY2013 | 76 | 70 | 2 | 2.6% | 6.0% |
| FY2012 | 74 | 70 | 3 | 4.1% | 6.3% |
| FY2011 | 81 | 78 | 1 | 1.2% | 6.9% |
| FY2010 | 77 | 71 | 1 | 1.3% | 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 | $600K | $190K |
| Average approval | $1.2M | $518K |
| Approvals of $150,000 or less | 5.8% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 60.5% | 34.3% |
| Approvals to franchise businesses | 2.3% | 11.5% |
| Jobs supported per approval, as reported | 10.7 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 4.5% | 6.6% |
States served
| # | State of the business (7 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | New York | 166 | $226M | 64.3% | |
| 2 | New Jersey | 81 | $62.2M | 31.4% | |
| 3 | Connecticut | 5 | $2.2M | 1.9% | |
| 4 | Colorado | 3 | $2.3M | 1.2% | |
| 5 | Utah | 1 | — | 0.4% | |
| 6 | Alabama | 1 | — | 0.4% | |
| 7 | Virginia | 1 | — | 0.4% |
In New York the lender accounts for 0.9% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (32 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | New York County, NY | 67 | $78.9M | 26.0% | |
| 2 | Queens County, NY | 44 | $68.5M | 17.1% | |
| 3 | Bergen County, NJ | 42 | $26.8M | 16.3% | |
| 4 | Bronx County, NY | 12 | $23.9M | 4.7% | |
| 5 | Hudson County, NJ | 12 | $10.8M | 4.7% | |
| 6 | Suffolk County, NY | 10 | $7.3M | 3.9% | |
| 7 | Nassau County, NY | 10 | $4.4M | 3.9% | |
| 8 | Westchester County, NY | 8 | $7.6M | 3.1% | |
| 9 | Kings County, NY | 7 | $15.2M | 2.7% | |
| 10 | Richmond County, NY | 6 | $18.3M | 2.3% | |
| 11 | Essex County, NJ | 4 | $7.0M | 1.6% | |
| 12 | Morris County, NJ | 4 | $4.5M | 1.6% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 104 | 40.3% | |
| 2 | Retail Trade | 63 | 24.4% | |
| 3 | Other Services (except Public Administration) | 33 | 12.8% | |
| 4 | Wholesale Trade | 11 | 4.3% | |
| 5 | Health Care and Social Assistance | 11 | 4.3% | |
| 6 | Arts, Entertainment, and Recreation | 9 | 3.5% | |
| 7 | Construction | 7 | 2.7% | |
| 8 | Professional, Scientific, and Technical Services | 6 | 2.3% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 82 | 31.8% | |
| 2 | Beer, Wine, and Liquor StoresNAICS 4453 | 23 | 8.9% | |
| 3 | Drycleaning and Laundry ServicesNAICS 8123 | 16 | 6.2% | |
| 4 | Grocery StoresNAICS 4451 | 15 | 5.8% | |
| 5 | Personal Care ServicesNAICS 8121 | 15 | 5.8% | |
| 6 | Traveler AccommodationNAICS 7211 | 12 | 4.7% | |
| 7 | Specialty Food StoresNAICS 4452 | 11 | 4.3% | |
| 8 | Other Amusement and Recreation IndustriesNAICS 7139 | 9 | 3.5% | |
| 9 | Gasoline StationsNAICS 4471 | 9 | 3.5% | |
| 10 | Drinking Places (Alcoholic Beverages)NAICS 7224 | 8 | 3.1% |
Approval sizes
- $50,001 to $150,0005.8%15
- $150,001 to $350,00026.0%67
- $350,001 to $1 million36.4%94
- $1 million to $2 million14.0%36
- Over $2 million17.8%46
Loan terms
- 5 years or less1.6%4
- Over 5 to 10 years64.7%167
- Over 10 to 20 years0.8%2
- Over 20 years32.9%85
Age of the businesses
- Existing, more than 2 years old34.9%90
- New business, 2 years or less11.6%30
- Startup, loan funds will open the business48.8%126
- Change of ownership4.7%12
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 256 | 99.2% | |
| 2 | 7a General | 1 | 0.4% | |
| 3 | 7a with EWCP | 1 | 0.4% |
Franchise share
6 of 258 approvals in FY2021–FY2025 (2.3%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Wingate by Wyndham | 1 | 0.4% | |
| 2 | Ascend Collection | 1 | 0.4% | |
| 3 | Comfort Inn | 1 | 0.4% | |
| 4 | Dunkin' Donut | 1 | 0.4% | |
| 5 | Bonchon | 1 | 0.4% | |
| 6 | Kung Fu Tea | 1 | 0.4% |
Questions and answers
How many SBA loans does NewBank make?
SBA approved 29 7(a) loans through NewBank in FY2025, worth $26.1M, and 258 over FY2021 to FY2025. That ranks 145th of 2,184 active 7(a) lenders by number of approvals.
How large are NewBank's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $600K and the average $1.2M. The program-wide median was $190K.
What is NewBank's charge-off rate?
Of 927 disbursed loans approved in FY2010 to FY2021, SBA records 42 as charged off (4.5%), 691 as paid in full and 194 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 NewBank lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (82); beer, wine, and liquor stores (23); drycleaning and laundry services (16); grocery stores (15).
Where does NewBank make SBA loans?
In 7 states and territories. New York 166, New Jersey 81, Connecticut 5, Colorado 3, Utah 1. In New York it accounts for 0.9% of all 7(a) approvals.
Is NewBank's SBA lending rising?
Approvals in the three latest complete fiscal years total 121, against 197 in the three before: falling (-39%).
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