Lenders › Provident Bank
7(a) lenderJersey City, New JerseyFDIC-insured bank161st of 2,184 by approvals
Provident 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.
Provident Bank, based in Jersey City, New Jersey, is an FDIC-insured bank in the SBA 7(a) program. SBA approved 239 of its 7(a) loans worth $244M in FY2021 to FY2025, which places it 161st of 2,184 active 7(a) lenders by number of approvals.
In FY2025, the latest complete fiscal year, it had 55 approvals totalling $63.0M, up 67% on FY2024 (33). FY2026 to 30 Jun 2026 adds 29 more.
The median approval was $630K, against $190K for the 7(a) program as a whole; 5.9% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 7 states and territories and 41 counties, led by New Jersey (72.4%), New York (19.2%) and Pennsylvania (5.9%). The largest industry group was retail trade at 28.9% of approvals, and 13.0% of approvals were to franchise businesses.
Of 682 disbursed loans approved in FY2010 to FY2021, SBA records 17 as charged off (2.5%), 513 as paid in full and 152 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* | 29 | $36.5M | $650K | $1.3M | 476 |
| FY2025 | 55 | $63.0M | $640K | $1.1M | 852 |
| FY2024 | 33 | $28.3M | $600K | $858K | 485 |
| FY2023 | 42 | $51.5M | $638K | $1.2M | 555 |
| FY2022 | 24 | $20.5M | $726K | $855K | 292 |
| FY2021 | 85 | $80.5M | $650K | $947K | 972 |
| FY2020 | 51 | $31.8M | $490K | $623K | 435 |
| FY2019 | 44 | $31.2M | $500K | $710K | 346 |
| FY2018 | 67 | $62.2M | $440K | $928K | 610 |
| FY2017 | 87 | $50.0M | $350K | $574K | 1,006 |
| FY2016 | 79 | $55.7M | $355K | $705K | 1,267 |
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 328 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 Jersey | 7(a) program |
|---|---|---|---|
| Approvals in these years | 787 | 17,926 | 639,905 |
| Cancelled or never disbursed | 105 | 2,711 | 79,313 |
| Disbursed loans | 682 | 15,215 | 560,592 |
| Paid in full | 513 | 11,117 | 435,813 |
| Charged off | 17 | 1,263 | 36,891 |
| Still outstanding (status exempt from disclosure) | 152 | 2,835 | 87,888 |
| Charged off, share of disbursed loans | 2.5% | 8.3% | 6.6% |
| Dollars charged off, share of disbursed dollars | 1.0% | 2.6% | 2.5% |
| Dollars charged off | $4.6M | $172M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 74 | 35 | 0 | 0.0% | 2.8% |
| FY2020 | 39 | 19 | 0 | 0.0% | 4.0% |
| FY2019 | 37 | 19 | 0 | 0.0% | 6.7% |
| FY2018 | 61 | 32 | 1 | 1.6% | 7.9% |
| FY2017 | 81 | 61 | 2 | 2.5% | 7.7% |
| FY2016 | 72 | 58 | 1 | 1.4% | 7.2% |
| FY2015 | 65 | 57 | 0 | 0.0% | 6.9% |
| FY2014 | 69 | 62 | 1 | 1.4% | 6.4% |
| FY2013 | 53 | 48 | 3 | 5.7% | 6.0% |
| FY2012 | 36 | 35 | 1 | 2.8% | 6.3% |
| FY2011 | 52 | 49 | 3 | 5.8% | 6.9% |
| FY2010 | 43 | 38 | 5 | 11.6% | 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 | $630K | $190K |
| Average approval | $1.0M | $518K |
| Approvals of $150,000 or less | 5.9% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 32.6% | 34.3% |
| Approvals to franchise businesses | 13.0% | 11.5% |
| Jobs supported per approval, as reported | 13.2 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 2.5% | 6.6% |
States served
| # | State of the business (7 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | New Jersey | 173 | $170M | 72.4% | |
| 2 | New York | 46 | $47.0M | 19.2% | |
| 3 | Pennsylvania | 14 | $17.6M | 5.9% | |
| 4 | Florida | 2 | — | 0.8% | |
| 5 | Wisconsin | 2 | — | 0.8% | |
| 6 | Connecticut | 1 | — | 0.4% | |
| 7 | Virginia | 1 | — | 0.4% |
In New Jersey the lender accounts for 1.6% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (41 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Monmouth County, NJ | 23 | $23.2M | 9.6% | |
| 2 | Bergen County, NJ | 22 | $19.3M | 9.2% | |
| 3 | Morris County, NJ | 20 | $17.8M | 8.4% | |
| 4 | Somerset County, NJ | 18 | $15.7M | 7.5% | |
| 5 | Sussex County, NJ | 15 | $17.2M | 6.3% | |
| 6 | Union County, NJ | 12 | $10.0M | 5.0% | |
| 7 | Hudson County, NJ | 12 | $9.3M | 5.0% | |
| 8 | Ocean County, NJ | 10 | $14.6M | 4.2% | |
| 9 | Kings County, NY | 9 | $8.8M | 3.8% | |
| 10 | Essex County, NJ | 8 | $10.5M | 3.3% | |
| 11 | Middlesex County, NJ | 8 | $9.3M | 3.3% | |
| 12 | Mercer County, NJ | 7 | $4.2M | 2.9% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Retail Trade | 69 | 28.9% | |
| 2 | Health Care and Social Assistance | 36 | 15.1% | |
| 3 | Accommodation and Food Services | 30 | 12.6% | |
| 4 | Other Services (except Public Administration) | 23 | 9.6% | |
| 5 | Manufacturing | 17 | 7.1% | |
| 6 | Professional, Scientific, and Technical Services | 16 | 6.7% | |
| 7 | Construction | 11 | 4.6% | |
| 8 | Wholesale Trade | 9 | 3.8% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Beer, Wine, and Liquor StoresNAICS 4453 | 41 | 17.2% | |
| 2 | Restaurants and Other Eating PlacesNAICS 7225 | 28 | 11.7% | |
| 3 | Child Day Care ServicesNAICS 6244 | 22 | 9.2% | |
| 4 | Automotive Repair and MaintenanceNAICS 8111 | 7 | 2.9% | |
| 5 | Other Personal ServicesNAICS 8129 | 6 | 2.5% | |
| 6 | Legal ServicesNAICS 5411 | 6 | 2.5% | |
| 7 | Other Amusement and Recreation IndustriesNAICS 7139 | 6 | 2.5% | |
| 8 | Personal Care ServicesNAICS 8121 | 6 | 2.5% | |
| 9 | Clothing and Clothing Accessories RetailersNAICS 4581 | 5 | 2.1% | |
| 10 | Grocery StoresNAICS 4451 | 5 | 2.1% |
Approval sizes
- $50,001 to $150,0005.9%14
- $150,001 to $350,00015.5%37
- $350,001 to $1 million49.8%119
- $1 million to $2 million16.3%39
- Over $2 million12.6%30
Loan terms
- Over 5 to 10 years53.1%127
- Over 10 to 20 years12.6%30
- Over 20 years34.3%82
Age of the businesses
- Existing, more than 2 years old49.0%117
- New business, 2 years or less13.0%31
- Startup, loan funds will open the business19.7%47
- Change of ownership18.4%44
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 212 | 88.7% | |
| 2 | SBA Express Program | 26 | 10.9% | |
| 3 | International Trade Loans | 1 | 0.4% |
Franchise share
31 of 239 approvals in FY2021–FY2025 (13.0%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | The Learning Experience | 9 | 3.8% | |
| 2 | Dunkin' | 4 | 1.7% | |
| 3 | Lightbridge Academy | 3 | 1.3% | |
| 4 | Bubbakoo's Burritos | 2 | 0.8% | |
| 5 | Moxie Salon and Beauty Bar | 2 | 0.8% | |
| 6 | Paris Baguette | 1 | 0.4% | |
| 7 | Dairy Queen Enterprises of New Jersey | 1 | 0.4% | |
| 8 | GolfCave | 1 | 0.4% |
Questions and answers
How many SBA loans does Provident Bank make?
SBA approved 55 7(a) loans through Provident Bank in FY2025, worth $63.0M, and 239 over FY2021 to FY2025. That ranks 161st of 2,184 active 7(a) lenders by number of approvals.
How large are Provident Bank's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $630K and the average $1.0M. The program-wide median was $190K.
What is Provident Bank's charge-off rate?
Of 682 disbursed loans approved in FY2010 to FY2021, SBA records 17 as charged off (2.5%), 513 as paid in full and 152 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 Provident Bank lend to most?
By number of approvals in FY2021 to FY2025: beer, wine, and liquor stores (41); restaurants and other eating places (28); child day care services (22); automotive repair and maintenance (7).
Where does Provident Bank make SBA loans?
In 7 states and territories. New Jersey 173, New York 46, Pennsylvania 14, Florida 2, Wisconsin 2. In New Jersey it accounts for 1.6% of all 7(a) approvals.
Is Provident Bank's SBA lending rising?
Approvals in the three latest complete fiscal years total 130, against 160 in the three before: falling (-19%).
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