State lending data
SBA lending in New Jersey
7,691 SBA 7(a) loans went to businesses in New Jersey recently, at a median of $150,000. The lenders that made them, what they charged, and how the state is trending.
7,691 SBA 7(a) loans went to businesses in New Jersey in the most recent fiscal years, at a median of $150,000. The most active lender in the state was TD Bank, with 2,060 loans. Approvals are down 23.7% on the year.
SBA lending in New Jersey, by the numbers
Every figure here is computed from SBA 7(a) loan-level FOIA data released 2026-06-30 — loans actually approved to businesses in New Jersey, not advertised ranges.
| Measure | New Jersey | National |
|---|---|---|
| Loans approved | 7,691 | 214,102 |
| Total approved | $3.3 billion | $104.1 billion |
| Median loan | $150,000 | $150,000 |
| 25th – 75th percentile | $50,000 – $425,000 | $50,000 – $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 10.75% | 10.25% |
| Share to startups | 31.1% | 33.6% |
| Charge-off rate, FY2010–19 | 8.9% | 7.1% |
| Jobs supported | 65,861 | 2,142,602 |
| Counties with recorded lending | 21 | — |
| Lenders active in the state | 180 | — |
Is SBA lending in New Jersey growing or shrinking?
Shrinking, along with almost every other state. Comparing December 2025 to June 2026 with December 2024 to June 2025, the same months a year earlier, 7(a) approvals to businesses in New Jersey went from 1,394 to 1,063 loans, down 23.7% — while the dollars approved went from $615.5 million to $530.0 million, down 13.9%. The average approval rose from $441,548 to $498,576, so the change is weighted toward larger loans.
That puts New Jersey mid-table — 37th of 51 for year-on-year change, against a national decline of 21.0%.
| Fiscal year | Loans in New Jersey | Loans nationally | State share |
|---|---|---|---|
| FY2023 | 2,009 | 51,747 | 3.9% |
| FY2024 | 2,170 | 62,618 | 3.5% |
| FY2025 | 2,261 | 64,096 | 3.5% |
| FY2026 (part year) | 1,251 | 35,641 | 3.5% |
Which lenders actually fund businesses in New Jersey
Ranked by loans approved inside New Jersey. The median, startup share and rate columns describe each lender's own New Jersey loans, not its national averages — the same bank often writes very different business from one state to the next.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| TD Bank | 2,060 | $50,000 | 27% | 11.50% |
| Manufacturers and Traders Trust Company | 751 | $50,000 | 35% | 11.25% |
| The Huntington National Bank | 354 | $271,000 | 62% | 10.25% |
| Newtek Bank | 315 | $175,000 | 17% | 11.50% |
| JPMorgan Chase Bank | 303 | $150,000 | 7% | 12.47% |
| Readycap Lending, LLC | 268 | $254,000 | 10% | 11.25% |
| Northeast Bank | 265 | $100,000 | 9% | 10.75% |
| BayFirst National Bank | 245 | $150,000 | 0% | 12.50% |
| Live Oak Banking Company | 208 | $500,000 | 24% | 9.50% |
| Wells Fargo Bank | 193 | $20,000 | 83% | 12.75% |
| PNC Bank | 180 | $50,000 | 36% | 11.50% |
| Wilmington Savings Fund Society FSB | 132 | $500,000 | 50% | 10.00% |
What stands out about New Jersey
Reading the state's own figures against the national picture:
- Loan sizes are typical. The median of $150,000 is within a few percent of the $150,000 national median across all 7(a) borrowers, so nothing about this market is unusual on size.
- Startup share is close to average, at 31.1% against 33.6% nationally.
- Rates run higher here. The median initial rate of 10.75% is 0.50 points above the 10.25% national median. Most 7(a) lending is variable-rate, so treat this as a comparison between markets, not a quote.
Who borrows in New Jersey
The industry mix of SBA borrowers here, led by construction.
| Sector | Loans | Share | Median loan | To startups |
|---|---|---|---|---|
| Construction | 1,025 | 13.3% | $110,000 | 22% |
| Retail | 901 | 11.7% | $200,000 | 30% |
| Restaurants and Hotels | 858 | 11.2% | $244,300 | 47% |
| Professional Services | 820 | 10.7% | $109,550 | 22% |
| Personal Services | 785 | 10.2% | $107,900 | 35% |
| Healthcare | 661 | 8.6% | $230,000 | 36% |
| Trucking | 509 | 6.6% | $70,000 | 28% |
| Admin Services | 492 | 6.4% | $150,000 | 29% |
| Wholesale | 470 | 6.1% | $200,000 | 20% |
| Manufacturing | 395 | 5.1% | $250,000 | 28% |
| Arts and Recreation | 307 | 4.0% | $240,000 | 58% |
| Real Estate | 136 | 1.8% | $150,000 | 24% |
Where the money goes in New Jersey
SBA lending is more concentrated than state totals suggest, and Bergen County alone accounts for 14% of the state's loans.
| County | Loans | Median loan | Total approved |
|---|---|---|---|
| Bergen County | 1,092 | $150,000 | $390.4 million |
| Ocean County | 670 | $141,500 | $251.2 million |
| Middlesex County | 646 | $198,500 | $291.6 million |
| Essex County | 612 | $150,000 | $231.5 million |
| Monmouth County | 598 | $200,000 | $300.8 million |
| Union County | 528 | $150,000 | $236.5 million |
| Hudson County | 481 | $140,000 | $153.0 million |
| Morris County | 459 | $195,000 | $213.9 million |
| Passaic County | 411 | $100,000 | $137.0 million |
| Camden County | 395 | $150,000 | $204.0 million |
| Burlington County | 347 | $150,000 | $163.7 million |
| Somerset County | 303 | $170,000 | $143.1 million |
SBA 504 in New Jersey
7(a) is the general-purpose program. 504 is the one for buying the building or the heavy equipment, at a long fixed rate — a different program with its own lenders, called Certified Development Companies.
| Measure | New Jersey 504 | National 504 |
|---|---|---|
| Projects approved | 313 | 22,192 |
| Median CDC share | $1,088,000 | $730,000 |
| Median total project | $2,550,000 | $1,642,000 |
| Median term | 25 years | 25 years |
- Which CDCs operate here, and on what terms: SBA 504 in New Jersey
- How the two programs differ: SBA 504 loans and SBA 7(a) loans
How to use this page
- Start from the lender table, not a search engine. Shortlist three whose median loan in New Jersey is near what you need. Size match beats brand.
- Follow your industry link in the sector table for the lenders that fund your kind of business in this state specifically.
- Then your county, if it is listed, for the local picture.
- Check the payment before you apply with the affordability calculator — lenders decline on cash flow more than on anything else.
- Filter the whole lender file yourself in the lender finder if you want to combine state, industry, loan size and business age at once.
Other states
- States of comparable lending volume: Michigan, Pennsylvania, Ohio, Illinois, New York, Georgia, California, Florida
Questions people actually ask
How many SBA loans are approved in New Jersey each year?
7,691 SBA 7(a) loans were approved to businesses in New Jersey across fiscal years 2023 to 2026, using data released June 2026, worth $3.3 billion in total. Over the most recent comparable months the number of approvals ran down 23.7% year on year, while the dollars approved ran down 13.9%.
Which bank approves the most SBA loans in New Jersey?
TD Bank, with 2,060 loans approved to businesses in the state and a median loan of $50,000. That makes it the most active, not necessarily the best fit — a lender whose median is far from your number is usually the wrong call.
Do I have to use a lender based in New Jersey?
No. SBA lenders routinely lend across state lines and several of the largest are non-bank lenders with no branches at all. What the state data tells you is which institutions are already comfortable with businesses like yours here.