SBA loans in New Jersey, FY2024

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 FY2024 (1 October 2023 to 30 September 2024) SBA approved 2,594 loans in New Jersey: 2,501 under 7(a) and 93 under 504, worth $1.03bn.

That is up 11% on FY2023, when there were 2,337 approvals worth $1.09bn.

New Jersey accounted for 3.4% of the 76,235 approvals nationwide that year. 125 lenders had at least one approval in the state; TD Bank, National Association had the most, 755.

2,594approvalsFY2023: 2,337

$1.03bndollars approvedFY2023: $1.09bn

$150Kmedian 7(a) approvalFY2023: $140K

125lenders with an approval

22,056jobs 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 FY2024, of 125 active.

#	Lender	Program	Approvals	Dollars	Share of state	FY2023	Change
1	TD Bank, National Association	7(a)	755	$95.0M	29.1%	723	+32
2	Manufacturers and Traders Trust Company	7(a)	157	$18.1M	6.1%	179	-22
3	Readycap Lending, LLC	7(a)	142	$40.8M	5.5%	34	+108
4	Northeast Bank	7(a)	128	$15.5M	4.9%	25	+103
5	Newtek Bank, National Association	7(a)	124	$73.5M	4.8%	50	+74
6	BayFirst National Bank	7(a)	119	$16.2M	4.6%	85	+34
7	JPMorgan Chase Bank, National Association	7(a)	117	$25.9M	4.5%	72	+45
8	The Huntington National Bank	7(a)	106	$40.3M	4.1%	106	0
9	PNC Bank, National Association	7(a)	67	$5.5M	2.6%	81	-14
10	Wells Fargo Bank National Association	7(a)	65	$15.2M	2.5%	69	-4
11	Trenton Business Assistance Corporation	504	61	$98.5M	2.4%	47	+14
12	Live Oak Banking Company	7(a)	42	$54.2M	1.6%	41	+1
13	Wilmington Savings Fund Society FSB	7(a)	41	$29.5M	1.6%	39	+2
14	Fulton Bank, National Association	7(a)	36	$25.7M	1.4%	43	-7
15	Bank of America, National Association	7(a)	34	$21.0M	1.3%	28	+6
16	Empire State Certified Development Corporation	504	29	$38.1M	1.1%	28	+1
17	Provident Bank	7(a)	28	$21.8M	1.1%	29	-1
18	United Midwest Savings Bank National Association	7(a)	24	$4.7M	0.9%	13	+11
19	Meridian Bank	7(a)	23	$17.9M	0.9%	47	-24
20	Beacon Bank and Trust	7(a)	21	$18.3M	0.8%	18	+3
21	First Bank of the Lake	7(a)	21	$6.9M	0.8%	15	+6
22	FinWise Bank	7(a)	20	$18.3M	0.8%	22	-2
23	Celtic Bank Corporation	7(a)	19	$5.3M	0.7%	22	-3
24	Santander Bank, National Association	7(a)	19	$1.6M	0.7%	31	-12
25	Peapack Private Bank and Trust	7(a)	17	$15.9M	0.7%	27	-10
26	Magyar Bank	7(a)	17	$14.8M	0.7%	7	+10
27	Colony Bank	7(a)	17	$2.4M	0.7%	5	+12
28	Lendistry SBLC, LLC	7(a)	17	$2.2M	0.7%	2	+15
29	New Millennium Bank	7(a)	15	$9.4M	0.6%	16	-1
30	Trenton Business Assistance Corporation	7(a)	15	$1.8M	0.6%	27	-12
31	Woori America Bank	7(a)	12	$5.2M	0.5%	1	+11
32	Webster Bank National Association	7(a)	12	$5.2M	0.5%	5	+7
33	Citizens Bank, National Association	7(a)	12	$5.1M	0.5%	4	+8
34	NewBank	7(a)	11	$6.1M	0.4%	16	-5
35	Firstrust Savings Bank	7(a)	10	$16.5M	0.4%	14	-4
36	Hanover Community Bank	7(a)	10	$15.9M	0.4%	18	-8
37	Financial Resources Federal Credit Union	7(a)	10	$11.5M	0.4%	15	-5
38	Columbia Bank	7(a)	9	$7.6M	0.3%	15	-6
39	Byline Bank	7(a)	9	$6.5M	0.3%	9	0
40	Mid Penn Bank	7(a)	9	$3.4M	0.3%	17	-8

Approvals by county

#	County	Approvals	Dollars	Share of state	FY2023	Change
1	Bergen County	362	$129M	14.0%	308	+54
2	Middlesex County	225	$90.1M	8.7%	205	+20
3	Ocean County	222	$66.3M	8.6%	199	+23
4	Essex County	209	$63.8M	8.1%	193	+16
5	Monmouth County	200	$120M	7.7%	177	+23
6	Union County	180	$89.3M	6.9%	147	+33
7	Hudson County	178	$52.5M	6.9%	137	+41
8	Morris County	158	$57.9M	6.1%	135	+23
9	Burlington County	137	$59.2M	5.3%	130	+7
10	Passaic County	133	$51.8M	5.1%	131	+2
11	Camden County	129	$47.5M	5.0%	114	+15
12	Somerset County	94	$41.8M	3.6%	99	-5
13	Gloucester County	78	$34.9M	3.0%	59	+19
14	Mercer County	73	$29.3M	2.8%	80	-7
15	Atlantic County	67	$22.2M	2.6%	59	+8
16	Sussex County	33	$17.7M	1.3%	30	+3
17	Cape May County	31	$16.1M	1.2%	31	0
18	Hunterdon County	31	$16.3M	1.2%	53	-22
19	Warren County	30	$14.8M	1.2%	18	+12
20	Cumberland County	16	$5.8M	0.6%	23	-7
21	Salem County	8	$5.8M	0.3%	9	-1

FY2024 against FY2023

New Jersey	FY2024	FY2023
7(a) approvals	2,501	2,247
7(a) dollars	$892M	$965M
Median 7(a) approval	$150K	$140K
504 approvals	93	90
504 dollars	$139M	$125M
Jobs supported, as reported	22,056	21,238

Questions and answers

Which lenders made the most SBA loans in New Jersey in FY2024?

TD Bank, National Association (755), Manufacturers and Traders Trust Company (157), Readycap Lending, LLC (142), Northeast Bank (128), Newtek Bank, National Association (124). 125 lenders had at least one approval.

How many SBA loans were approved in New Jersey in FY2024?

2,594: 2,501 under 7(a) worth $892M and 93 under 504 worth $139M.

Which New Jersey counties had the most SBA approvals in FY2024?

Bergen County (362), Middlesex County (225), Ocean County (222), Essex County (209), Monmouth County (200).

When does FY2024 start and end?

The federal fiscal year 2024 runs from 1 October 2023 to 30 September 2024.

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