SBA Ledger

States › New Jersey › FY2020

FY20201 Oct 2019 – 30 Sep 2020

SBA loans in New Jersey, FY2020

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 FY2020 (1 October 2019 to 30 September 2020) SBA approved 1,290 loans in New Jersey: 1,195 under 7(a) and 95 under 504, worth $812M.

That is down 34% on FY2019, when there were 1,951 approvals worth $853M.

New Jersey accounted for 2.6% of the 49,417 approvals nationwide that year. 110 lenders had at least one approval in the state; TD Bank, National Association had the most, 308.

1,290approvalsFY2019: 1,951
$812Mdollars approvedFY2019: $853M
$165Kmedian 7(a) approvalFY2019: $100K
110lenders with an approval
12,395jobs supported, as reported

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 FY2020, of 110 active.

#LenderProgramApprovalsDollarsShare of stateFY2019Change
1TD Bank, National Association7(a)308$50.3M23.9%602-294
2Manufacturers and Traders Trust Company7(a)89$19.0M6.9%112-23
3Fulton Bank, National Association7(a)71$52.5M5.5%47+24
4Trenton Business Assistance Corporation50453$90.9M4.1%49+4
5Wells Fargo Bank National Association7(a)47$13.3M3.6%97-50
6PNC Bank, National Association7(a)42$7.6M3.3%62-20
7Empire State Certified Development Corporation50438$62.1M2.9%26+12
8JPMorgan Chase Bank, National Association7(a)34$5.1M2.6%76-42
9Hanover Community Bank7(a)31$24.5M2.4%24+7
10Provident Bank7(a)28$19.5M2.2%31-3
11Live Oak Banking Company7(a)26$33.0M2.0%11+15
12Meridian Bank7(a)26$26.2M2.0%14+12
13Beacon Bank and Trust7(a)25$32.4M1.9%21+4
14Santander Bank, National Association7(a)24$2.9M1.9%77-53
15Newtek Small Business Finance, Inc.7(a)22$15.7M1.7%34-12
16Peapack Private Bank and Trust7(a)20$14.2M1.6%31-11
17New Millennium Bank7(a)19$7.8M1.5%25-6
18First Commerce Bank7(a)17$17.4M1.3%20-3
19Wilmington Savings Fund Society FSB7(a)17$10.6M1.3%8+9
20BayFirst National Bank7(a)17$4.9M1.3%48-31
21United Midwest Savings Bank National Association7(a)17$4.3M1.3%7+10
22Unity Bank7(a)13$18.7M1.0%12+1
23NewBank7(a)13$5.4M1.0%36-23
24The Huntington National Bank7(a)13$4.5M1.0%4+9
25Citizens Bank, National Association7(a)13$3.7M1.0%9+4
26FinWise Bank7(a)12$19.2M0.9%120
27Celtic Bank Corporation7(a)12$17.4M0.9%13-1
28Five Star Bank7(a)12$3.0M0.9%13-1
29Financial Resources Federal Credit Union7(a)10$17.5M0.8%5+5
30Firstrust Savings Bank7(a)10$14.7M0.8%2+8
31Stearns Bank National Association7(a)10$2.5M0.8%23-13
32Trenton Business Assistance Corporation7(a)10$1.3M0.8%29-19
33Byline Bank7(a)7$12.7M0.5%70
34Bank of America, National Association7(a)7$3.0M0.5%6+1
35Bank of Hope7(a)7$2.4M0.5%15-8
36First Merchants Bank7(a)7$2.4M0.5%0new
37Cross River Bank7(a)6$15.4M0.5%60
38Banc of California7(a)6$7.9M0.5%8-2
39Magyar Bank7(a)6$4.9M0.5%5+1
40The MINT National Bank7(a)5$10.6M0.4%4+1

Approvals by county

#CountyApprovalsDollarsShare of stateFY2019Change
1Bergen County193$86.4M15.0%315-122
2Middlesex County131$133M10.2%179-48
3Morris County99$63.0M7.7%147-48
4Ocean County93$70.7M7.2%132-39
5Monmouth County87$41.2M6.7%154-67
6Camden County80$63.2M6.2%122-42
7Essex County76$28.3M5.9%145-69
8Union County71$39.3M5.5%125-54
9Hudson County70$32.9M5.4%100-30
10Burlington County68$57.2M5.3%89-21
11Passaic County67$40.7M5.2%108-41
12Gloucester County45$18.4M3.5%53-8
13Somerset County43$29.9M3.3%60-17
14Mercer County38$23.1M2.9%63-25
15Atlantic County36$24.5M2.8%41-5
16Hunterdon County22$19.3M1.7%30-8
17Warren County22$11.3M1.7%19+3
18Cape May County19$13.0M1.5%35-16
19Sussex County14$6.6M1.1%16-2
20Cumberland County9$7.4M0.7%15-6
21Salem County7$2.5M0.5%3+4

FY2020 against FY2019

New JerseyFY2020FY2019
7(a) approvals1,1951,867
7(a) dollars$657M$761M
Median 7(a) approval$165K$100K
504 approvals9584
504 dollars$155M$92.6M
Jobs supported, as reported12,39514,891

Questions and answers

Which lenders made the most SBA loans in New Jersey in FY2020?

TD Bank, National Association (308), Manufacturers and Traders Trust Company (89), Fulton Bank, National Association (71), Trenton Business Assistance Corporation (53), Wells Fargo Bank National Association (47). 110 lenders had at least one approval.

How many SBA loans were approved in New Jersey in FY2020?

1,290: 1,195 under 7(a) worth $657M and 95 under 504 worth $155M.

Which New Jersey counties had the most SBA approvals in FY2020?

Bergen County (193), Middlesex County (131), Morris County (99), Ocean County (93), Monmouth County (87).

When does FY2020 start and end?

The federal fiscal year 2020 runs from 1 October 2019 to 30 September 2020.

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