Lending data
Who actually lends to personal service and repair businesses in New Jersey?
785 SBA 7(a) loans went to personal service and repair businesses in New Jersey recently, at a median of $107,900. Here are the lenders that made them, ranked.
785 SBA 7(a) loans went to personal service and repair businesses in New Jersey in the most recent fiscal years. The median was $107,900 over 10 years. The most active lender was TD Bank, with 192 loans.
What lending to personal service and repair 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 | Personal and repair services, New Jersey | All 7(a) borrowers |
|---|---|---|
| Loans approved | 785 | 214,102 |
| Median loan | $107,900 | $150,000 |
| 25th - 75th percentile | $30,400 - $405,000 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 10.75% | 10.25% |
| Share to startups | 35.4% | 33.6% |
| Charge-off rate, FY2010-19 cohort | 8.4% | 7.1% |
Which lenders actually funded them
Ranked by loans approved to personal service and repair 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 | 192 | $35,000 | 33% | 11.50% |
| Manufacturers and Traders Trust Company | 94 | $50,000 | 32% | 11.62% |
| The Huntington National Bank | 55 | $270,000 | 78% | 10.25% |
| PNC Bank | 29 | $25,000 | 41% | 11.65% |
| Readycap Lending, LLC | 29 | $50,000 | 7% | 13.50% |
| Newtek Bank | 29 | $100,000 | 10% | 11.50% |
| Wells Fargo Bank | 24 | $15,000 | 79% | 13.00% |
| Live Oak Banking Company | 24 | $661,250 | 29% | 9.12% |
| Northeast Bank | 23 | $150,000 | 22% | 11.25% |
| BayFirst National Bank | 22 | $105,000 | 0% | 12.75% |
What stands out in this market
Reading the figures above against the national picture:
- Loans here run smaller than average. The median of $107,900 is 28% below the $150,000 national median. Smaller loans price higher under the SBA spread caps, so budget for a rate above the headline range.
- Startup share is about average, at 35% against 34% nationally.
- No single lender dominates, but the top three made 43% of these loans, so the shortlist below covers most of the active market.
- 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, 35.4% 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 | 63 | $35,000 | 33% | 11.50% |
| The Huntington National Bank | 43 | $270,000 | 78% | 10.25% |
| Manufacturers and Traders Trust Company | 30 | $50,000 | 32% | 11.62% |
| Wells Fargo Bank | 19 | $15,000 | 79% | 13.00% |
| PNC Bank | 12 | $25,000 | 41% | 11.65% |
| Provident Bank | 8 | $450,000 | 80% | 9.62% |
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, healthcare, trucking
- Personal Services in comparable states: Illinois, Michigan, Pennsylvania, Colorado, Georgia, Massachusetts