States › New Jersey
State3.2% of US approvals206 lenders active
SBA loans in New Jersey
7(a) and 504 approvals by fiscal year, the lenders behind them, and where in the state they went. Pick a fiscal year for that year's lenders and counties.
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.
SBA approved 11,132 small business loans in New Jersey in FY2021 to FY2025: 10,592 under the 7(a) program and 540 under 504, worth $5.66bn together.
That is 46.8 approvals for every 1,000 business establishments in the state, against 41.0 nationally, and 3.2% of all approvals in the country (9th of 54 states and territories).
In FY2025 there were 2,913 approvals totalling $1.34bn, up 12% on FY2024. The median 7(a) approval over the five years was $150K and the median 504 approval $952K.
206 lenders had at least one approval in the state; by number of 7(a) approvals the most active were TD Bank, National Association (2,810), Manufacturers and Traders Trust Company (840) and Northeast Bank (493).
Of 7(a) loans approved in FY2010 to FY2021 and disbursed, SBA records 8.3% as charged off, against 6.6% nationally.
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. Data through 30 Jun 2026.
Most active 7(a) lenders in New Jersey
Ranked by number of approvals to businesses in the state, FY2021–FY2025. The column of bars shows each lender's approvals here in every fiscal year; the charged-off column is the lender's nationwide figure.
| # | Lender | Approvals in NJ, FY2021–25 | Dollars | Share | Median approval, all states | FY2016–26 | Charged off, FY2010–21 loans |
|---|---|---|---|---|---|---|---|
| 1 | TD Bank, National AssociationWilmington, DE | 2,810 | $412M | 26.5% | $50K | 14.4% | |
| 2 | Manufacturers and Traders Trust CompanyBuffalo, NY | 840 | $89.7M | 7.9% | $50K | 8.0% | |
| 3 | Northeast BankLewiston, ME | 493 | $70.4M | 4.7% | $106K | 12.8% | |
| 4 | The Huntington National BankColumbus, OH | 414 | $149M | 3.9% | $92K | 5.7% | |
| 5 | JPMorgan Chase Bank, National AssociationColumbus, OH | 335 | $79.5M | 3.2% | $200K | 7.4% | |
| 6 | Newtek Bank, National AssociationMiami, FL | 333 | $161M | 3.1% | $225K | — | |
| 7 | Readycap Lending, LLCBerkeley Heights, NJ | 324 | $125M | 3.1% | $138K | 4.3% | |
| 8 | BayFirst National BankSaint Petersburg, FL | 318 | $51.3M | 3.0% | $150K | 19.2% | |
| 9 | Wells Fargo Bank National AssociationSioux Falls, SD | 308 | $91.6M | 2.9% | $15K | 7.9% | |
| 10 | PNC Bank, National AssociationWilmington, DE | 277 | $61.0M | 2.6% | $50K | 8.1% | |
| 11 | Live Oak Banking CompanyWilmington, NC | 223 | $307M | 2.1% | $850K | 2.2% | |
| 12 | Fulton Bank, National AssociationLancaster, PA | 208 | $187M | 2.0% | $465K | 6.5% | |
| 13 | Wilmington Savings Fund Society FSBWilmington, DE | 204 | $173M | 1.9% | $500K | 5.9% | |
| 14 | Provident BankJersey City, NJ | 173 | $170M | 1.6% | $630K | 2.5% | |
| 15 | Meridian BankMalvern, PA | 157 | $154M | 1.5% | $525K | 2.8% | |
| 16 | Newtek Small Business Finance, Inc.Lake Success, NY | 155 | $111M | 1.5% | $300K | 6.8% | |
| 17 | Peapack Private Bank and TrustBedminster, NJ | 128 | $134M | 1.2% | $725K | 1.1% | |
| 18 | Bank of America, National AssociationCharlotte, NC | 118 | $71.7M | 1.1% | $300K | 2.6% | |
| 19 | Beacon Bank and TrustBrookline, MA | 108 | $112M | 1.0% | $630K | 4.6% | |
| 20 | Celtic Bank CorporationSalt Lake City, UT | 105 | $63.4M | 1.0% | $150K | 17.0% | |
| 21 | New Millennium BankFort Lee, NJ | 99 | $58.9M | 0.9% | $550K | 3.3% | |
| 22 | United Midwest Savings Bank National AssociationDe Graff, OH | 98 | $31.0M | 0.9% | $150K | 15.9% | |
| 23 | Mid Penn BankMillersburg, PA | 95 | $67.2M | 0.9% | $415K | 3.8% | |
| 24 | Trenton Business Assistance CorporationPrinceton, NJ | 95 | $14.1M | 0.9% | $129K | 6.6% | |
| 25 | Santander Bank, National AssociationWilmington, DE | 95 | $6.5M | 0.9% | $60K | 6.8% | |
| 26 | FinWise BankSandy, UT | 93 | $134M | 0.9% | $718K | 4.0% | |
| 27 | Hanover Community BankMineola, NY | 82 | $106M | 0.8% | $563K | 2.7% | |
| 28 | NewBankFlushing, NY | 81 | $62.2M | 0.8% | $600K | 4.5% | |
| 29 | First Bank of the LakeOsage Beach, MO | 72 | $51.5M | 0.7% | $350K | 2.7% | |
| 30 | Unity BankClinton, NJ | 70 | $71.7M | 0.7% | $791K | 5.7% | |
| 31 | Magyar BankNew Brunswick, NJ | 62 | $59.9M | 0.6% | $666K | 1.4% | |
| 32 | Lendistry SBLC, LLCLos Angeles, CA | 58 | $9.2M | 0.5% | $150K | 22.7% | |
| 33 | Firstrust Savings BankConshohocken, PA | 57 | $74.9M | 0.5% | $823K | 1.3% | |
| 34 | Columbia BankFair Lawn, NJ | 56 | $57.0M | 0.5% | $500K | 2.6% | |
| 35 | Financial Resources Federal Credit UnionBranchburg, NJ | 50 | $77.1M | 0.5% | $1.1M | 14.0% | |
| 36 | First BankHamilton, NJ | 50 | $47.3M | 0.5% | $500K | 6.0% | |
| 37 | KeyBank National AssociationCleveland, OH | 47 | $17.9M | 0.4% | $75K | 4.3% | |
| 38 | Customers BankMalvern, PA | 45 | $33.5M | 0.4% | $500K | 6.8% | |
| 39 | ConnectOne BankEnglewood Cliffs, NJ | 42 | $44.2M | 0.4% | $577K | 0.0% | |
| 40 | Webster Bank National AssociationWaterbury, CT | 39 | $25.8M | 0.4% | $200K | 3.8% |
504 certified development companies
| # | Lender | Approvals in NJ, FY2021–25 | Dollars | Share | Median approval, all states | FY2016–26 | Charged off, FY2010–21 loans |
|---|---|---|---|---|---|---|---|
| 1 | Trenton Business Assistance CorporationPrinceton, NJ · 504 CDC | 322 | $478M | 59.6% | $1.1M | 0.7% | |
| 2 | Empire State Certified Development CorporationLatham, NY · 504 CDC | 165 | $249M | 30.6% | $716K | 2.2% | |
| 3 | Union County Economic Development CorporationCranford, NJ · 504 CDC | 27 | $24.1M | 5.0% | $496K | 0.0% | |
| 4 | Florida First Capital Finance Corporation, Inc.Tallahassee, FL · 504 CDC | 1 | — | 0.2% | $684K | 1.1% | |
| 5 | Capital Access Group, Inc.San Francisco, CA · 504 CDC | 1 | — | 0.2% | $806K | 0.4% | |
| 6 | South Eastern Economic Development Company of PennsylvaniaExton, PA · 504 CDC | 1 | — | 0.2% | $642K | 3.3% |
Fiscal-year ledger
| Fiscal year | 7(a) approvals | 7(a) dollars | Median 7(a) | 504 approvals | 504 dollars | All approvals | Jobs supported, as reported |
|---|---|---|---|---|---|---|---|
| FY2026* | 1,462 | $699M | $185K | 59 | $111M | 1,521 | 14,323 |
| FY2025 | 2,830 | $1.20bn | $150K | 83 | $137M | 2,913 | 25,078 |
| FY2024 | 2,501 | $892M | $150K | 93 | $139M | 2,594 | 22,056 |
| FY2023 | 2,247 | $965M | $140K | 90 | $125M | 2,337 | 21,238 |
| FY2022 | 1,518 | $715M | $150K | 135 | $178M | 1,653 | 15,672 |
| FY2021 | 1,496 | $1.11bn | $358K | 139 | $191M | 1,635 | 18,820 |
| FY2020 | 1,195 | $657M | $165K | 95 | $155M | 1,290 | 12,395 |
| FY2019 | 1,867 | $761M | $100K | 84 | $92.6M | 1,951 | 14,891 |
| FY2018 | 2,215 | $822M | $100K | 77 | $83.0M | 2,292 | 17,275 |
| FY2017 | 2,229 | $763M | $100K | 97 | $107M | 2,326 | 19,340 |
| FY2016 | 1,686 | $715M | $150K | 74 | $94.4M | 1,760 | 16,473 |
7(a) approvals504 approvals
Counties
Approvals in FY2021–FY2025 set against the Census Bureau's count of business establishments. Counties with at least 30 approvals have their own page.
| # | County | Approvals | Dollars | Establishments | Per 1,000 establishments | By fiscal year |
|---|---|---|---|---|---|---|
| 1 | Bergen County | 1,513 | $704M | 31,818 | 47.6 | |
| 2 | Middlesex County | 968 | $526M | 22,314 | 43.4 | |
| 3 | Ocean County | 905 | $395M | 15,020 | 60.3 | |
| 4 | Essex County | 890 | $362M | 19,392 | 45.9 | |
| 5 | Monmouth County | 878 | $534M | 19,883 | 44.2 | |
| 6 | Union County | 720 | $401M | 14,276 | 50.4 | |
| 7 | Hudson County | 712 | $272M | 14,119 | 50.4 | |
| 8 | Morris County | 684 | $353M | 16,518 | 41.4 | |
| 9 | Camden County | 617 | $351M | 11,541 | 53.5 | |
| 10 | Passaic County | 581 | $267M | 12,406 | 46.8 | |
| 11 | Burlington County | 542 | $297M | 10,703 | 50.6 | |
| 12 | Somerset County | 410 | $215M | 9,831 | 41.7 | |
| 13 | Mercer County | 386 | $223M | 9,683 | 39.9 | |
| 14 | Gloucester County | 315 | $144M | 6,298 | 50.0 | |
| 15 | Atlantic County | 270 | $137M | 6,192 | 43.6 | |
| 16 | Hunterdon County | 179 | $92.8M | 3,672 | 48.7 | |
| 17 | Cape May County | 164 | $127M | 3,816 | 43.0 | |
| 18 | Sussex County | 139 | $79.3M | 3,184 | 43.7 | |
| 19 | Warren County | 113 | $63.9M | 2,286 | 49.4 | |
| 20 | Cumberland County | 95 | $77.1M | 2,826 | 33.6 | |
| 21 | Salem County | 51 | $32.2M | 1,137 | 44.9 |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 1,058 | $607M | 9.5% | |
| 2 | General Freight TruckingNAICS 4841 | 420 | $74.0M | 3.8% | |
| 3 | Residential Building ConstructionNAICS 2361 | 410 | $70.4M | 3.7% | |
| 4 | Personal Care ServicesNAICS 8121 | 397 | $85.0M | 3.6% | |
| 5 | Services to Buildings and DwellingsNAICS 5617 | 374 | $93.7M | 3.4% | |
| 6 | Building Equipment ContractorsNAICS 2382 | 309 | $131M | 2.8% | |
| 7 | Automotive Repair and MaintenanceNAICS 8111 | 306 | $163M | 2.7% | |
| 8 | Other Amusement and Recreation IndustriesNAICS 7139 | 294 | $188M | 2.6% | |
| 9 | Offices of Other Health PractitionersNAICS 6213 | 287 | $81.0M | 2.6% | |
| 10 | Management, Scientific, and Technical Consulting ServicesNAICS 5416 | 248 | $58.8M | 2.2% | |
| 11 | Beer, Wine, and Liquor StoresNAICS 4453 | 236 | $246M | 2.1% | |
| 12 | Child Day Care ServicesNAICS 6244 | 218 | $198M | 2.0% | |
| 13 | Building Finishing ContractorsNAICS 2383 | 199 | $60.8M | 1.8% | |
| 14 | Computer Systems Design and Related ServicesNAICS 5415 | 195 | $87.6M | 1.8% | |
| 15 | Other Personal ServicesNAICS 8129 | 178 | $83.8M | 1.6% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Retail Trade | 1,442 | 13.0% | |
| 2 | Construction | 1,378 | 12.4% | |
| 3 | Accommodation and Food Services | 1,290 | 11.6% | |
| 4 | Other Services (except Public Administration) | 1,106 | 9.9% | |
| 5 | Professional, Scientific, and Technical Services | 1,103 | 9.9% | |
| 6 | Health Care and Social Assistance | 973 | 8.7% | |
| 7 | Transportation and Warehousing | 751 | 6.7% | |
| 8 | Wholesale Trade | 742 | 6.7% | |
| 9 | Administrative and Support and Waste Management and Remediation Services | 625 | 5.6% | |
| 10 | Manufacturing | 601 | 5.4% |
Franchise brands
| # | Brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | The UPS Store | 30 | 0.3% | |
| 2 | Burger King | 23 | 0.2% | |
| 3 | The Goddard School | 20 | 0.2% | |
| 4 | American Family Care | 20 | 0.2% | |
| 5 | Dunkin' | 20 | 0.2% | |
| 6 | Hummus Republic | 14 | 0.1% | |
| 7 | The Learning Experience | 13 | 0.1% | |
| 8 | Primrose Schools | 12 | 0.1% | |
| 9 | Success On The Spectrum | 12 | 0.1% | |
| 10 | BrightStar Care | 11 | 0.1% |
How earlier loans turned out
| Loans approved FY2010–FY2021 | NJ 7(a) | US 7(a) | NJ 504 | US 504 |
|---|---|---|---|---|
| Approvals in these years | 17,926 | 639,905 | 1,192 | 85,591 |
| Cancelled or never disbursed | 2,711 | 79,313 | 326 | 12,514 |
| Disbursed loans | 15,215 | 560,592 | 866 | 73,077 |
| Paid in full | 11,117 | 435,813 | 393 | 35,491 |
| Charged off | 1,263 | 36,891 | 13 | 905 |
| Still outstanding (status exempt from disclosure) | 2,835 | 87,888 | 460 | 36,681 |
| Charged off, share of disbursed loans | 8.3% | 6.6% | 1.5% | 1.2% |
| Dollars charged off, share of disbursed dollars | 2.6% | 2.5% | 1.1% | 0.9% |
| Dollars charged off | $172M | $5.70bn | $10.3M | $499M |
Approval sizes
- $50,000 or less26.8%2,987
- $50,001 to $150,00022.6%2,514
- $150,001 to $350,00017.9%1,988
- $350,001 to $1 million18.6%2,074
- $1 million to $2 million8.1%901
- Over $2 million6.0%668
Age of the businesses
- Existing, more than 2 years old62.7%6,984
- New business, 2 years or less18.5%2,060
- Startup, loan funds will open the business12.0%1,338
- Change of ownership6.6%740
- Not answered0.1%10
Against the country
| FY2021–FY2025 | New Jersey | United States |
|---|---|---|
| Approvals per 1,000 establishments | 46.8 | 41.0 |
| Median 7(a) approval | $150K | $190K |
| Median 504 approval | $952K | $657K |
| 504 share of approvals | 4.9% | 11.0% |
| Jobs supported per approval, as reported | 9.2 | 10.5 |
| Approvals, change on FY2016–FY2020 | 16% | 10% |
Questions and answers
Which lenders make the most SBA loans in New Jersey?
By 7(a) approvals in FY2021 to FY2025: TD Bank, National Association (2,810), Manufacturers and Traders Trust Company (840), Northeast Bank (493), The Huntington National Bank (414), JPMorgan Chase Bank, National Association (335). For 504 loans: Trenton Business Assistance Corporation (322), Empire State Certified Development Corporation (165), Union County Economic Development Corporation (27). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in New Jersey?
The median 7(a) approval was $150K and the median 504 approval $952K; the average across both programs was $508K.
Which industries get the most SBA loans in New Jersey?
Restaurants and Other Eating Places (1,058); General Freight Trucking (420); Residential Building Construction (410); Personal Care Services (397); Services to Buildings and Dwellings (374).
Which New Jersey counties receive the most SBA loans?
Bergen County (1,513), Middlesex County (968), Ocean County (905), Essex County (890), Monmouth County (878), by approvals in FY2021 to FY2025.
Is SBA lending in New Jersey rising?
Approvals in the three latest complete fiscal years total 7,844, against 4,578 in the three before: rising (+71%).
What share of SBA loans in New Jersey are charged off?
Of 7(a) loans approved in FY2010 to FY2021 and disbursed, 8.3% are recorded as charged off (national: 6.6%); for 504 loans the figure is 1.5% (national: 1.2%). Newer loans are left out because most have not had time to reach either outcome.
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. Establishment counts are from the Census Bureau's County Business Patterns 2023, which leaves out most farms, government and businesses without employees. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error