Lending data
Who actually lends to finance and insurance businesses in New Jersey?
105 SBA 7(a) loans went to finance and insurance businesses in New Jersey recently, at a median of $125,000. Here are the lenders that made them, ranked.
105 SBA 7(a) loans went to finance and insurance businesses in New Jersey in the most recent fiscal years. The median was $125,000 over 10 years. The most active lender was TD Bank, with 29 loans.
What lending to finance and insurance businesses in New Jersey actually looks like
Every figure on this page is computed from SBA 7(a) loan-level FOIA data released 2026-06-30. It reflects loans that were actually approved, not rate cards or advertised ranges.
| Measure | Finance and insurance, New Jersey | All 7(a) borrowers |
|---|---|---|
| Loans approved | 105 | 214,102 |
| Median loan | $125,000 | $150,000 |
| 25th - 75th percentile | $50,000 - $345,750 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 10.75% | 10.25% |
| Share to startups | 18.1% | 33.6% |
| Charge-off rate, FY2010-19 cohort | 6.5% | 7.1% |
Which lenders actually funded them
Ranked by loans approved to finance and insurance businesses in New Jersey. This is the list worth working from, because a lender that has funded dozens of businesses like yours in your state has seen your file before.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| TD Bank | 29 | $80,000 | 21% | 11.50% |
| Manufacturers and Traders Trust Company | 13 | $34,000 | 15% | 14.00% |
| Live Oak Banking Company | 7 | $1,000,000 | 0% | 8.93% |
| BayFirst National Bank | 7 | $120,000 | 0% | 12.25% |
| Readycap Lending, LLC | 6 | $43,500 | 0% | 14.50% |
| Byline Bank | 5 | $330,000 | 40% | 10.00% |
| Celtic Bank Corporation | 4 | $97,000 | 0% | 9.75% |
| The Huntington National Bank | 4 | $253,250 | 50% | 10.75% |
| U.S. Bank | 3 | $520,300 | 33% | 6.75% |
| Northeast Bank | 3 | $205,700 | 0% | 9.75% |
What stands out in this market
Reading the figures above against the national picture:
- Loans here run smaller than average. The median of $125,000 is 17% below the $150,000 national median. Smaller loans price higher under the SBA spread caps, so budget for a rate above the headline range.
- This is a hard market for new businesses. Only 18% of these loans went to startups, against 34% nationally. If you are pre-revenue, work from the startup table below rather than the main list.
- One lender dominates. TD Bank alone made 28% of these loans, and the top three made 47%. That concentration usually means a lender with a dedicated program for this sector — worth starting there, but get a second quote so you know the terms are competitive.
- Rates run higher here. The median initial rate of 10.75% is 0.50 points above the 10.25% national median, which usually tracks loan size and perceived sector risk rather than geography.
Which of them lend to new businesses
Of those loans, 18.1% went to businesses the SBA classes as startups — new, under two years old, or opening with the proceeds. These are the lenders in this market that actually wrote them.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| TD Bank | 6 | $80,000 | 21% | 11.50% |
| Byline Bank | 2 | $330,000 | 40% | 10.00% |
| Manufacturers and Traders Trust Company | 2 | $34,000 | 15% | 14.00% |
| The Huntington National Bank | 2 | $253,250 | 50% | 10.75% |
How to use this
- Shortlist three lenders from the table whose median loan is close to what you need.
- Ask each whether they are a Preferred Lender and how many 7(a) loans they closed last year. See choosing an SBA lender.
- Check your coverage first with the affordability calculator so you ask for a number the cash flow supports.
- Assemble the package before you call. The document checklist is the single biggest thing you control.
Compare other markets
- Other sectors in New Jersey: construction, retail, restaurants and hotels, professional services, personal services, healthcare
- Finance in comparable states: Colorado, Georgia, Illinois, Pennsylvania, Minnesota, Michigan