States › New Jersey › FY2019
FY20191 Oct 2018 – 30 Sep 2019
SBA loans in New Jersey, FY2019
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 FY2019 (1 October 2018 to 30 September 2019) SBA approved 1,951 loans in New Jersey: 1,867 under 7(a) and 84 under 504, worth $853M.
That is down 15% on FY2018, when there were 2,292 approvals worth $905M.
New Jersey accounted for 3.4% of the 58,006 approvals nationwide that year. 112 lenders had at least one approval in the state; TD Bank, National Association had the most, 602.
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 FY2019, of 112 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2018 | Change |
|---|---|---|---|---|---|---|---|
| 1 | TD Bank, National Association | 7(a) | 602 | $64.6M | 30.9% | 851 | -249 |
| 2 | Manufacturers and Traders Trust Company | 7(a) | 112 | $15.0M | 5.7% | 92 | +20 |
| 3 | Wells Fargo Bank National Association | 7(a) | 97 | $18.7M | 5.0% | 88 | +9 |
| 4 | Santander Bank, National Association | 7(a) | 77 | $22.6M | 3.9% | 74 | +3 |
| 5 | JPMorgan Chase Bank, National Association | 7(a) | 76 | $18.3M | 3.9% | 84 | -8 |
| 6 | PNC Bank, National Association | 7(a) | 62 | $7.6M | 3.2% | 55 | +7 |
| 7 | Trenton Business Assistance Corporation | 504 | 49 | $54.5M | 2.5% | 40 | +9 |
| 8 | BayFirst National Bank | 7(a) | 48 | $10.9M | 2.5% | 22 | +26 |
| 9 | Fulton Bank, National Association | 7(a) | 47 | $72.9M | 2.4% | 65 | -18 |
| 10 | NewBank | 7(a) | 36 | $24.9M | 1.8% | 37 | -1 |
| 11 | Newtek Small Business Finance, Inc. | 7(a) | 34 | $19.1M | 1.7% | 41 | -7 |
| 12 | Provident Bank | 7(a) | 31 | $23.5M | 1.6% | 42 | -11 |
| 13 | Peapack Private Bank and Trust | 7(a) | 31 | $22.4M | 1.6% | 27 | +4 |
| 14 | Trenton Business Assistance Corporation | 7(a) | 29 | $3.3M | 1.5% | 30 | -1 |
| 15 | Empire State Certified Development Corporation | 504 | 26 | $32.6M | 1.3% | 26 | 0 |
| 16 | New Millennium Bank | 7(a) | 25 | $19.6M | 1.3% | 28 | -3 |
| 17 | Hanover Community Bank | 7(a) | 24 | $31.2M | 1.2% | 10 | +14 |
| 18 | Stearns Bank National Association | 7(a) | 23 | $4.8M | 1.2% | 22 | +1 |
| 19 | Beacon Bank and Trust | 7(a) | 21 | $23.6M | 1.1% | 28 | -7 |
| 20 | First Bank | 7(a) | 21 | $11.9M | 1.1% | 11 | +10 |
| 21 | First Commerce Bank | 7(a) | 20 | $5.7M | 1.0% | 4 | +16 |
| 22 | Columbia Bank | 7(a) | 18 | $10.2M | 0.9% | 18 | 0 |
| 23 | Sturdy Savings Bank | 7(a) | 18 | $7.5M | 0.9% | 17 | +1 |
| 24 | The Bank of Princeton | 7(a) | 16 | $7.3M | 0.8% | 34 | -18 |
| 25 | Bank of Hope | 7(a) | 15 | $10.0M | 0.8% | 6 | +9 |
| 26 | Meridian Bank | 7(a) | 14 | $6.0M | 0.7% | 0 | new |
| 27 | Celtic Bank Corporation | 7(a) | 13 | $4.2M | 0.7% | 35 | -22 |
| 28 | Five Star Bank | 7(a) | 13 | $3.2M | 0.7% | 5 | +8 |
| 29 | Independence Bank | 7(a) | 13 | $1.9M | 0.7% | 19 | -6 |
| 30 | FinWise Bank | 7(a) | 12 | $16.8M | 0.6% | 13 | -1 |
| 31 | OceanFirst Bank, National Association | 7(a) | 12 | $10.8M | 0.6% | 22 | -10 |
| 32 | Unity Bank | 7(a) | 12 | $10.5M | 0.6% | 21 | -9 |
| 33 | Live Oak Banking Company | 7(a) | 11 | $9.8M | 0.6% | 20 | -9 |
| 34 | First Bank | 7(a) | 10 | $10.0M | 0.5% | 28 | -18 |
| 35 | Readycap Lending, LLC | 7(a) | 10 | $8.7M | 0.5% | 5 | +5 |
| 36 | Northeast Bank | 7(a) | 10 | $1.3M | 0.5% | 36 | -26 |
| 37 | Metro City Bank | 7(a) | 9 | $14.8M | 0.5% | 9 | 0 |
| 38 | Capital One National Association | 7(a) | 9 | $14.5M | 0.5% | 16 | -7 |
| 39 | Happen Bank | 7(a) | 9 | $13.1M | 0.5% | 10 | -1 |
| 40 | BCB Community Bank | 7(a) | 9 | $8.5M | 0.5% | 14 | -5 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2018 | Change |
|---|---|---|---|---|---|---|
| 1 | Bergen County | 315 | $157M | 16.1% | 348 | -33 |
| 2 | Middlesex County | 179 | $77.1M | 9.2% | 199 | -20 |
| 3 | Monmouth County | 154 | $72.1M | 7.9% | 185 | -31 |
| 4 | Morris County | 147 | $47.1M | 7.5% | 157 | -10 |
| 5 | Essex County | 145 | $66.7M | 7.4% | 168 | -23 |
| 6 | Ocean County | 132 | $46.9M | 6.8% | 171 | -39 |
| 7 | Union County | 125 | $42.0M | 6.4% | 115 | +10 |
| 8 | Camden County | 122 | $56.6M | 6.3% | 147 | -25 |
| 9 | Passaic County | 108 | $38.8M | 5.5% | 110 | -2 |
| 10 | Hudson County | 100 | $41.4M | 5.1% | 111 | -11 |
| 11 | Burlington County | 89 | $68.4M | 4.6% | 120 | -31 |
| 12 | Mercer County | 63 | $23.3M | 3.2% | 104 | -41 |
| 13 | Somerset County | 60 | $35.3M | 3.1% | 87 | -27 |
| 14 | Gloucester County | 53 | $24.2M | 2.7% | 72 | -19 |
| 15 | Atlantic County | 41 | $11.0M | 2.1% | 49 | -8 |
| 16 | Cape May County | 35 | $12.1M | 1.8% | 48 | -13 |
| 17 | Hunterdon County | 30 | $8.7M | 1.5% | 33 | -3 |
| 18 | Warren County | 19 | $6.2M | 1.0% | 20 | -1 |
| 19 | Sussex County | 16 | $11.8M | 0.8% | 19 | -3 |
| 20 | Cumberland County | 15 | $6.5M | 0.8% | 22 | -7 |
| 21 | Salem County | 3 | $185K | 0.2% | 7 | -4 |
FY2019 against FY2018
| New Jersey | FY2019 | FY2018 |
|---|---|---|
| 7(a) approvals | 1,867 | 2,215 |
| 7(a) dollars | $761M | $822M |
| Median 7(a) approval | $100K | $100K |
| 504 approvals | 84 | 77 |
| 504 dollars | $92.6M | $83.0M |
| Jobs supported, as reported | 14,891 | 17,275 |
Questions and answers
Which lenders made the most SBA loans in New Jersey in FY2019?
TD Bank, National Association (602), Manufacturers and Traders Trust Company (112), Wells Fargo Bank National Association (97), Santander Bank, National Association (77), JPMorgan Chase Bank, National Association (76). 112 lenders had at least one approval.
How many SBA loans were approved in New Jersey in FY2019?
1,951: 1,867 under 7(a) worth $761M and 84 under 504 worth $92.6M.
Which New Jersey counties had the most SBA approvals in FY2019?
Bergen County (315), Middlesex County (179), Monmouth County (154), Morris County (147), Essex County (145).
When does FY2019 start and end?
The federal fiscal year 2019 runs from 1 October 2018 to 30 September 2019.
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