SBA Ledger

States › New Jersey › FY2022

FY20221 Oct 2021 – 30 Sep 2022

SBA loans in New Jersey, FY2022

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 FY2022 (1 October 2021 to 30 September 2022) SBA approved 1,653 loans in New Jersey: 1,518 under 7(a) and 135 under 504, worth $893M.

That is about level with FY2021, when there were 1,635 approvals worth $1.30bn.

New Jersey accounted for 2.9% of the 56,932 approvals nationwide that year. 105 lenders had at least one approval in the state; TD Bank, National Association had the most, 401.

1,653approvalsFY2021: 1,635
$893Mdollars approvedFY2021: $1.30bn
$150Kmedian 7(a) approvalFY2021: $358K
105lenders with an approval
15,672jobs 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 FY2022, of 105 active.

#LenderProgramApprovalsDollarsShare of stateFY2021Change
1TD Bank, National Association7(a)401$40.6M24.3%287+114
2Manufacturers and Traders Trust Company7(a)131$13.4M7.9%102+29
3Trenton Business Assistance Corporation50479$95.6M4.8%80-1
4PNC Bank, National Association7(a)66$22.6M4.0%33+33
5Wells Fargo Bank National Association7(a)65$19.1M3.9%53+12
6Newtek Small Business Finance, Inc.7(a)64$51.3M3.9%44+20
7The Huntington National Bank7(a)64$19.7M3.9%21+43
8Empire State Certified Development Corporation50440$72.3M2.4%42-2
9Wilmington Savings Fund Society FSB7(a)36$39.9M2.2%57-21
10Fulton Bank, National Association7(a)33$36.9M2.0%59-26
11BayFirst National Bank7(a)31$5.6M1.9%14+17
12JPMorgan Chase Bank, National Association7(a)29$7.4M1.8%20+9
13Northeast Bank7(a)28$695K1.7%0new
14Meridian Bank7(a)27$30.4M1.6%34-7
15Live Oak Banking Company7(a)25$38.5M1.5%38-13
16Trenton Business Assistance Corporation7(a)25$3.6M1.5%8+17
17Santander Bank, National Association7(a)25$1.2M1.5%0new
18Beacon Bank and Trust7(a)24$23.4M1.5%33-9
19Provident Bank7(a)22$18.4M1.3%54-32
20Mid Penn Bank7(a)22$13.2M1.3%44-22
21Hanover Community Bank7(a)19$16.8M1.1%26-7
22NewBank7(a)19$12.1M1.1%32-13
23Readycap Lending, LLC7(a)19$9.4M1.1%11+8
24New Millennium Bank7(a)19$6.4M1.1%37-18
25Peapack Private Bank and Trust7(a)18$25.5M1.1%40-22
26FinWise Bank7(a)17$34.4M1.0%16+1
27Celtic Bank Corporation7(a)15$8.1M0.9%14+1
28KeyBank National Association7(a)15$3.6M0.9%12+3
29Unity Bank7(a)13$12.2M0.8%30-17
30United Midwest Savings Bank National Association7(a)13$2.5M0.8%23-10
31Bank of America, National Association7(a)12$5.2M0.7%9+3
32First Commerce Bank7(a)10$8.8M0.6%6+4
33First Bank of the Lake7(a)10$7.5M0.6%11-1
34Customers Bank7(a)9$7.4M0.5%18-9
35Columbia Bank7(a)9$5.6M0.5%5+4
36Magyar Bank7(a)9$5.5M0.5%13-4
37Firstrust Savings Bank7(a)8$9.8M0.5%14-6
38TowneBank7(a)8$2.7M0.5%80
39Cross River Bank7(a)7$17.7M0.4%8-1
40Financial Resources Federal Credit Union7(a)7$8.2M0.4%12-5

Approvals by county

#CountyApprovalsDollarsShare of stateFY2021Change
1Bergen County222$102M13.4%211+11
2Middlesex County155$76.6M9.4%140+15
3Ocean County141$62.9M8.5%106+35
4Monmouth County129$89.0M7.8%118+11
5Essex County114$52.9M6.9%135-21
6Union County110$71.3M6.7%76+34
7Hudson County107$46.9M6.5%96+11
8Camden County98$50.1M5.9%116-18
9Morris County93$51.7M5.6%133-40
10Burlington County88$49.4M5.3%83+5
11Passaic County77$51.8M4.7%770
12Mercer County66$42.8M4.0%71-5
13Somerset County50$27.4M3.0%54-4
14Gloucester County45$29.5M2.7%47-2
15Atlantic County45$22.3M2.7%33+12
16Cape May County29$16.4M1.8%33-4
17Hunterdon County24$9.3M1.5%33-9
18Warren County22$16.6M1.3%15+7
19Sussex County13$6.3M0.8%24-11
20Cumberland County13$12.1M0.8%26-13
21Salem County12$5.5M0.7%8+4

FY2022 against FY2021

New JerseyFY2022FY2021
7(a) approvals1,5181,496
7(a) dollars$715M$1.11bn
Median 7(a) approval$150K$358K
504 approvals135139
504 dollars$178M$191M
Jobs supported, as reported15,67218,820

Questions and answers

Which lenders made the most SBA loans in New Jersey in FY2022?

TD Bank, National Association (401), Manufacturers and Traders Trust Company (131), Trenton Business Assistance Corporation (79), PNC Bank, National Association (66), Wells Fargo Bank National Association (65). 105 lenders had at least one approval.

How many SBA loans were approved in New Jersey in FY2022?

1,653: 1,518 under 7(a) worth $715M and 135 under 504 worth $178M.

Which New Jersey counties had the most SBA approvals in FY2022?

Bergen County (222), Middlesex County (155), Ocean County (141), Monmouth County (129), Essex County (114).

When does FY2022 start and end?

The federal fiscal year 2022 runs from 1 October 2021 to 30 September 2022.

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