States › New Jersey › FY2016
FY20161 Oct 2015 – 30 Sep 2016
SBA loans in New Jersey, FY2016
That fiscal year's approvals by lender and by county.
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 FY2016 (1 October 2015 to 30 September 2016) SBA approved 1,760 loans in New Jersey: 1,686 under 7(a) and 74 under 504, worth $809M.
That is about level with FY2015, when there were 1,741 approvals worth $820M.
New Jersey accounted for 2.5% of the 70,012 approvals nationwide that year. 113 lenders had at least one approval in the state; TD Bank, National Association had the most, 226.
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.
Approvals by lender
The 40 lenders with the most approvals to New Jersey businesses in FY2016, of 113 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2015 | Change |
|---|---|---|---|---|---|---|---|
| 1 | TD Bank, National Association | 7(a) | 226 | $41.3M | 12.8% | 242 | -16 |
| 2 | Wells Fargo Bank National Association | 7(a) | 211 | $30.2M | 12.0% | 195 | +16 |
| 3 | JPMorgan Chase Bank, National Association | 7(a) | 109 | $17.7M | 6.2% | 143 | -34 |
| 4 | Manufacturers and Traders Trust Company | 7(a) | 108 | $17.0M | 6.1% | 65 | +43 |
| 5 | Santander Bank, National Association | 7(a) | 70 | $9.8M | 4.0% | 72 | -2 |
| 6 | Provident Bank | 7(a) | 58 | $39.7M | 3.3% | 48 | +10 |
| 7 | Fulton Bank, National Association | 7(a) | 56 | $52.5M | 3.2% | 68 | -12 |
| 8 | Sturdy Savings Bank | 7(a) | 46 | $20.8M | 2.6% | 39 | +7 |
| 9 | Trenton Business Assistance Corporation | 504 | 44 | $56.7M | 2.5% | 28 | +16 |
| 10 | NewBank | 7(a) | 41 | $31.8M | 2.3% | 34 | +7 |
| 11 | PNC Bank, National Association | 7(a) | 41 | $9.6M | 2.3% | 35 | +6 |
| 12 | Unity Bank | 7(a) | 37 | $31.4M | 2.1% | 37 | 0 |
| 13 | New Millennium Bank | 7(a) | 35 | $22.4M | 2.0% | 24 | +11 |
| 14 | Celtic Bank Corporation | 7(a) | 35 | $8.8M | 2.0% | 45 | -10 |
| 15 | Financial Resources Federal Credit Union | 7(a) | 30 | $16.7M | 1.7% | 15 | +15 |
| 16 | Citizens Bank, National Association | 7(a) | 28 | $6.4M | 1.6% | 18 | +10 |
| 17 | Newtek Small Business Finance, Inc. | 7(a) | 26 | $19.3M | 1.5% | 25 | +1 |
| 18 | Trenton Business Assistance Corporation | 7(a) | 25 | $3.1M | 1.4% | 33 | -8 |
| 19 | Stearns Bank National Association | 7(a) | 24 | $4.6M | 1.4% | 8 | +16 |
| 20 | Empire State Certified Development Corporation | 504 | 23 | $33.3M | 1.3% | 27 | -4 |
| 21 | First Commerce Bank | 7(a) | 21 | $7.9M | 1.2% | 25 | -4 |
| 22 | BCB Community Bank | 7(a) | 19 | $14.5M | 1.1% | 34 | -15 |
| 23 | First Bank | 7(a) | 19 | $13.7M | 1.1% | 24 | -5 |
| 24 | OceanFirst Bank, National Association | 7(a) | 18 | $15.1M | 1.0% | 25 | -7 |
| 25 | BayFirst National Bank | 7(a) | 18 | $3.7M | 1.0% | 3 | +15 |
| 26 | Live Oak Banking Company | 7(a) | 16 | $21.1M | 0.9% | 14 | +2 |
| 27 | Kearny Bank | 7(a) | 16 | $8.1M | 0.9% | 11 | +5 |
| 28 | Bank of Hope | 7(a) | 13 | $10.3M | 0.7% | 20 | -7 |
| 29 | Beacon Bank and Trust | 7(a) | 13 | $9.2M | 0.7% | 13 | 0 |
| 30 | Columbia Bank | 7(a) | 13 | $1.7M | 0.7% | 39 | -26 |
| 31 | Peapack Private Bank and Trust | 7(a) | 12 | $5.6M | 0.7% | 1 | +11 |
| 32 | FinWise Bank | 7(a) | 11 | $15.1M | 0.6% | 3 | +8 |
| 33 | Magyar Bank | 7(a) | 11 | $7.1M | 0.6% | 17 | -6 |
| 34 | First Commonwealth Bank | 7(a) | 11 | $6.2M | 0.6% | 4 | +7 |
| 35 | Mid Penn Bank | 7(a) | 11 | $3.8M | 0.6% | 16 | -5 |
| 36 | East West Bank | 7(a) | 11 | $3.6M | 0.6% | 6 | +5 |
| 37 | Somerset Regal Bank | 7(a) | 10 | $4.8M | 0.6% | 11 | -1 |
| 38 | The Bank of Princeton | 7(a) | 10 | $4.8M | 0.6% | 20 | -10 |
| 39 | Happen Bank | 7(a) | 9 | $6.7M | 0.5% | 8 | +1 |
| 40 | Customers Bank | 7(a) | 9 | $5.6M | 0.5% | 9 | 0 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2015 | Change |
|---|---|---|---|---|---|---|
| 1 | Bergen County | 252 | $105M | 14.3% | 285 | -33 |
| 2 | Middlesex County | 161 | $94.8M | 9.1% | 162 | -1 |
| 3 | Monmouth County | 139 | $68.8M | 7.9% | 163 | -24 |
| 4 | Essex County | 119 | $52.6M | 6.8% | 104 | +15 |
| 5 | Ocean County | 117 | $48.0M | 6.6% | 99 | +18 |
| 6 | Hudson County | 109 | $39.2M | 6.2% | 101 | +8 |
| 7 | Union County | 99 | $49.0M | 5.6% | 120 | -21 |
| 8 | Morris County | 97 | $58.8M | 5.5% | 100 | -3 |
| 9 | Burlington County | 95 | $47.3M | 5.4% | 77 | +18 |
| 10 | Camden County | 94 | $42.5M | 5.3% | 102 | -8 |
| 11 | Mercer County | 81 | $28.3M | 4.6% | 75 | +6 |
| 12 | Passaic County | 76 | $30.5M | 4.3% | 75 | +1 |
| 13 | Somerset County | 65 | $34.0M | 3.7% | 61 | +4 |
| 14 | Atlantic County | 64 | $30.4M | 3.6% | 46 | +18 |
| 15 | Cape May County | 53 | $25.8M | 3.0% | 45 | +8 |
| 16 | Gloucester County | 51 | $17.9M | 2.9% | 42 | +9 |
| 17 | Hunterdon County | 35 | $17.7M | 2.0% | 39 | -4 |
| 18 | Warren County | 19 | $5.1M | 1.1% | 10 | +9 |
| 19 | Sussex County | 16 | $3.7M | 0.9% | 24 | -8 |
| 20 | Cumberland County | 13 | $8.6M | 0.7% | 9 | +4 |
| 21 | Salem County | 5 | $932K | 0.3% | 2 | +3 |
FY2016 against FY2015
| New Jersey | FY2016 | FY2015 |
|---|---|---|
| 7(a) approvals | 1,686 | 1,680 |
| 7(a) dollars | $715M | $758M |
| Median 7(a) approval | $150K | $150K |
| 504 approvals | 74 | 61 |
| 504 dollars | $94.4M | $62.3M |
| Jobs supported, as reported | 16,473 | 17,593 |
Questions and answers
Which lenders made the most SBA loans in New Jersey in FY2016?
TD Bank, National Association (226), Wells Fargo Bank National Association (211), JPMorgan Chase Bank, National Association (109), Manufacturers and Traders Trust Company (108), Santander Bank, National Association (70). 113 lenders had at least one approval.
How many SBA loans were approved in New Jersey in FY2016?
1,760: 1,686 under 7(a) worth $715M and 74 under 504 worth $94.4M.
Which New Jersey counties had the most SBA approvals in FY2016?
Bergen County (252), Middlesex County (161), Monmouth County (139), Essex County (119), Ocean County (117).
When does FY2016 start and end?
The federal fiscal year 2016 runs from 1 October 2015 to 30 September 2016.
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