SBA Ledger

States › New Jersey › FY2021

FY20211 Oct 2020 – 30 Sep 2021

SBA loans in New Jersey, FY2021

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 FY2021 (1 October 2020 to 30 September 2021) SBA approved 1,635 loans in New Jersey: 1,496 under 7(a) and 139 under 504, worth $1.30bn.

That is up 27% on FY2020, when there were 1,290 approvals worth $812M.

New Jersey accounted for 2.7% of the 61,532 approvals nationwide that year. 126 lenders had at least one approval in the state; TD Bank, National Association had the most, 287.

1,635approvalsFY2020: 1,290
$1.30bndollars approvedFY2020: $812M
$358Kmedian 7(a) approvalFY2020: $165K
126lenders with an approval
18,820jobs 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 FY2021, of 126 active.

#LenderProgramApprovalsDollarsShare of stateFY2020Change
1TD Bank, National Association7(a)287$68.4M17.6%308-21
2Manufacturers and Traders Trust Company7(a)102$15.5M6.2%89+13
3Trenton Business Assistance Corporation50480$119M4.9%53+27
4Fulton Bank, National Association7(a)59$53.9M3.6%71-12
5Wilmington Savings Fund Society FSB7(a)57$55.4M3.5%17+40
6Provident Bank7(a)54$51.7M3.3%28+26
7Wells Fargo Bank National Association7(a)53$16.5M3.2%47+6
8Mid Penn Bank7(a)44$38.1M2.7%2+42
9Newtek Small Business Finance, Inc.7(a)44$31.1M2.7%22+22
10Empire State Certified Development Corporation50442$55.8M2.6%38+4
11Peapack Private Bank and Trust7(a)40$44.1M2.4%20+20
12Live Oak Banking Company7(a)38$72.1M2.3%26+12
13New Millennium Bank7(a)37$19.7M2.3%19+18
14Meridian Bank7(a)34$32.3M2.1%26+8
15Beacon Bank and Trust7(a)33$37.3M2.0%25+8
16PNC Bank, National Association7(a)33$10.4M2.0%42-9
17NewBank7(a)32$33.2M2.0%13+19
18Unity Bank7(a)30$34.2M1.8%13+17
19Hanover Community Bank7(a)26$33.0M1.6%31-5
20United Midwest Savings Bank National Association7(a)23$7.8M1.4%17+6
21The Huntington National Bank7(a)21$10.7M1.3%13+8
22JPMorgan Chase Bank, National Association7(a)20$7.0M1.2%34-14
23Customers Bank7(a)18$10.8M1.1%5+13
24FinWise Bank7(a)16$29.6M1.0%12+4
25Celtic Bank Corporation7(a)14$27.8M0.9%12+2
26Firstrust Savings Bank7(a)14$13.7M0.9%10+4
27BayFirst National Bank7(a)14$5.6M0.9%17-3
28Five Star Bank7(a)14$4.8M0.9%12+2
29First Bank7(a)13$12.8M0.8%2+11
30Magyar Bank7(a)13$12.8M0.8%6+7
31Financial Resources Federal Credit Union7(a)12$34.6M0.7%10+2
32KeyBank National Association7(a)12$6.2M0.7%4+8
33First Bank of the Lake7(a)11$16.7M0.7%0new
34Readycap Lending, LLC7(a)11$13.5M0.7%1+10
35Union County Economic Development Corporation50411$10.3M0.7%2+9
36Metro City Bank7(a)10$12.9M0.6%1+9
37Bank of America, National Association7(a)9$3.6M0.6%7+2
38Cross River Bank7(a)8$10.6M0.5%6+2
39TowneBank7(a)8$9.9M0.5%3+5
40Banc of California7(a)8$6.3M0.5%6+2

Approvals by county

#CountyApprovalsDollarsShare of stateFY2020Change
1Bergen County211$159M12.9%193+18
2Middlesex County140$113M8.6%131+9
3Essex County135$97.7M8.3%76+59
4Morris County133$106M8.1%99+34
5Monmouth County118$92.9M7.2%87+31
6Camden County116$98.8M7.1%80+36
7Ocean County106$80.7M6.5%93+13
8Hudson County96$54.0M5.9%70+26
9Burlington County83$80.7M5.1%68+15
10Passaic County77$58.6M4.7%67+10
11Union County76$66.4M4.6%71+5
12Mercer County71$61.1M4.3%38+33
13Somerset County54$43.0M3.3%43+11
14Gloucester County47$26.3M2.9%45+2
15Cape May County33$42.5M2.0%19+14
16Hunterdon County33$18.5M2.0%22+11
17Atlantic County33$24.0M2.0%36-3
18Cumberland County26$42.5M1.6%9+17
19Sussex County24$19.8M1.5%14+10
20Warren County15$10.4M0.9%22-7
21Salem County8$3.4M0.5%7+1

FY2021 against FY2020

New JerseyFY2021FY2020
7(a) approvals1,4961,195
7(a) dollars$1.11bn$657M
Median 7(a) approval$358K$165K
504 approvals13995
504 dollars$191M$155M
Jobs supported, as reported18,82012,395

Questions and answers

Which lenders made the most SBA loans in New Jersey in FY2021?

TD Bank, National Association (287), Manufacturers and Traders Trust Company (102), Trenton Business Assistance Corporation (80), Fulton Bank, National Association (59), Wilmington Savings Fund Society FSB (57). 126 lenders had at least one approval.

How many SBA loans were approved in New Jersey in FY2021?

1,635: 1,496 under 7(a) worth $1.11bn and 139 under 504 worth $191M.

Which New Jersey counties had the most SBA approvals in FY2021?

Bergen County (211), Middlesex County (140), Essex County (135), Morris County (133), Monmouth County (118).

When does FY2021 start and end?

The federal fiscal year 2021 runs from 1 October 2020 to 30 September 2021.

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