# Small business loans in New Jersey

**Short answer:** The most active SBA lenders in New Jersey since FY2024 are TD Bank (1,398 loans) and M&T Bank (592). The median loan was $150,000, and half fell between $50,000 and $436,600. For free help, see the New Jersey Small Business Development Centers. Source: SBA 7(a) loan data.

Canonical page: https://www.sbaexpress.loans/new-jersey-small-business-loans/
Data as of: 2026-06-30
Last checked: 2026-11-09

## Lenders making SBA loans in New Jersey

No lender made more than 25% of the loans in New Jersey, and TD Bank made the most. The five largest lenders together made 49%.

168 lenders had at least one SBA loan approved in New Jersey since FY2024, and 85 of them had five or more. Those 85 are 76 banks, 3 credit unions and 6 non-bank lenders. Banks made 89% of the loans, credit unions 1% and non-bank lenders 7%.

**Lenders with the most SBA loans in New Jersey, FY2024 to June 2026**

| Lender | Loans | Median | Express |
| --- | --- | --- | --- |
| [TD Bank](https://www.sbaexpress.loans/sba-express-lenders/td-bank/) | 1,398 | $54,500 | 94.0% |
| [M&T Bank](https://www.sbaexpress.loans/sba-express-lenders/m-and-t-bank/) | 592 | $50,000 | 85.5% |
| [Newtek Bank](https://www.sbaexpress.loans/sba-express-lenders/newtek-bank/) | 276 | $175,000 | 26.4% |
| [The Huntington National Bank](https://www.sbaexpress.loans/sba-express-lenders/the-huntington-national-bank/new-jersey/) | 253 | $250,000 | 38.7% |
| [Northeast Bank](https://www.sbaexpress.loans/sba-express-lenders/northeast-bank/) | 247 | $105,900 | 0.0% |
| [Readycap Lending, LLC](https://www.sbaexpress.loans/sba-express-lenders/readycap-lending-llc/new-jersey/): Non-bank lender | 239 | $260,000 | 0.0% |
| [JPMorgan Chase Bank](https://www.sbaexpress.loans/sba-express-lenders/jpmorgan-chase-bank/) | 232 | $167,500 | 91.8% |
| [Live Oak Banking Company](https://www.sbaexpress.loans/sba-express-lenders/live-oak-banking-company/) | 168 | $500,000 | 17.9% |
| [BayFirst National Bank](https://www.sbaexpress.loans/sba-express-lenders/bayfirst-national-bank/) | 164 | $150,000 | 0.0% |
| [Wells Fargo Bank](https://www.sbaexpress.loans/sba-express-lenders/wells-fargo-bank/) | 126 | $20,000 | 66.7% |
| [PNC Bank](https://www.sbaexpress.loans/sba-express-lenders/pnc-bank/) | 105 | $40,000 | 81.0% |
| [Wilmington Savings Fund Society](https://www.sbaexpress.loans/sba-express-lenders/wilmington-savings-fund-society/) | 97 | $530,000 | 24.7% |
| [Provident Bank](https://www.sbaexpress.loans/sba-express-lenders/provident-bank/) | 83 | $594,000 | 14.5% |
| [Fulton Bank](https://www.sbaexpress.loans/sba-express-lenders/fulton-bank/) | 81 | $500,000 | 11.1% |
| [Celtic Bank](https://www.sbaexpress.loans/sba-express-lenders/celtic-bank/) | 72 | $150,000 | 0.0% |

70 more lenders made five or more loans each. Median is the lender's median loan. Express is the percent of its loans made through SBA Express. A line under a name gives the type of any lender that is not an active bank. Each name links to that lender's page for the state.

## Local help in New Jersey: SBA, SBDC and SCORE

New Jersey has an SBA district office, a Small Business Development Center network and SCORE mentors.

31% of New Jersey borrowers since FY2024 were startups or businesses two years old or younger. SBDCs provide counseling and training, and SCORE mentors give advice at no cost, according to SBA.

SBA has one district office for New Jersey. Its page points to state and federal resources and to lenders in the area. 168 lenders had SBA loans approved in New Jersey since FY2024.

Each county has an NJEDA Business Banking Representative, and applications go through the authority's online portal.

- [SBA New Jersey District Office (Newark): SBA district office](https://www.sba.gov/district/new-jersey)
- [New Jersey Small Business Development Centers: Small Business Development Center](https://njsbdc.com/)
- [SCORE mentors in New Jersey: Business mentoring](https://www.score.org/nj/)

## Loan programs in New Jersey

Three loan programs in New Jersey sit beside the 5,682 SBA loans above.

Three programs are confirmed on official pages. Each has its own eligibility rules, so read the official page before you apply.

- **[NJEDA Small Business Fund](https://www.njeda.gov/smallbusinessfund/)**
The New Jersey Economic Development Authority lends up to $500,000 to creditworthy small businesses that may not qualify for bank financing. Businesses need at least one year in operation and no more than $3 million in total revenue. (Checked Nov 9, 2026.)
- **[NJEDA Direct Loans](https://www.njeda.gov/directloans/)**
The authority lends up to $2 million for fixed assets or up to $750,000 for working capital when conventional financing is not available. Borrowers commit to creating or retaining one full-time job for every $65,000 of NJEDA exposure. (Checked Nov 9, 2026.)
- **[NJEDA Premier Lender Program](https://www.njeda.gov/premierlender/)**
The authority partners with Premier Lender banks on loan participations and guarantees of up to 50% of the bank loan. Total NJEDA exposure is capped at $2.75 million for fixed assets. (Checked Nov 9, 2026.)

## Loan counts and sizes in New Jersey

New Jersey ranks 6th among the 50 states, DC and Puerto Rico for SBA loans, with 3.5% of the 162,355 loans approved since FY2024.

The 5,682 loans were approved for $2.41 billion in all. The median loan was $150,000, close to the national median of $150,300. Half of the loans fell between $50,000 and $436,600.

**New Jersey compared with the nation, loans from FY2024 to June 2026**

| Measure | New Jersey | U.S. |
| --- | --- | --- |
| Loans | 5,682 | 162,355 |
| Median loan | $150,000 | $150,300 |
| 25th percentile | $50,000 | $50,000 |
| 75th percentile | $436,600 | $500,000 |
| Via SBA Express | 47.4% | 35.8% |
| Lines of credit | 39.9% | 28.1% |
| Startups | 13.5% | 16.1% |
| Ownership changes | 7.3% | 10.4% |
| Median term | 10 years | 10 years |
| Median spread | 3.0 | 2.75 |
| Charged off | 5.6% | 3.6% |

A quarter of loans were smaller than the 25th percentile loan and a quarter were larger than the 75th. Median spread is in percentage points over Prime. Charged off is the share of FY2020 to FY2022 loans a lender wrote off as a loss. It is shown only for groups of 30 loans or more. Fewer than 5 marks a share that would stand for 1 to 4 loans, which we do not publish. U.S. covers every loan in the file.

81% of the loans were $500,000 or less, the size SBA Express covers. 47.4% of all loans went through SBA Express, above the national 35.8%. Lines of credit were 39.9% of loans, above the national 28.1%.

SBA loans in New Jersey by size, FY2024 to June 2026

- $50,000 or less (28%): 1,592
- $50,001 to $150,000 (24%): 1,373
- $150,001 to $350,000 (20%): 1,132
- $350,001 to $500,000 (9%): 505
- $500,001 to $1,000,000 (8%): 473
- $1,000,001 to $2,000,000 (6%): 363
- Over $2,000,000 (4%): 244

Labels show each size's share of all loans. The highlighted bar is the size band that contains the median.

By business age, 61.8% of loans went to businesses more than two years old and 17.2% to businesses two years old or younger. Startups received 13.5% and changes of ownership 7.3%. The national startup share is 16.1%.

SBA loans in New Jersey by fiscal year

- FY2020: 1,006
- FY2021: 1,247
- FY2022: 1,308
- FY2023: 2,009
- FY2024: 2,170
- FY2025: 2,261
- FY2026 (through June 30): 1,251

Fiscal years run October to September. The last bar covers nine of its twelve months.

Volume held steady from FY2024 (2,170 loans) to FY2025 (2,261), the two latest full years. The busiest full year in the file was FY2025, with 2,261 loans. FY2026 already shows 1,251 loans through June 30.

Of the 3,561 loans New Jersey borrowers received in FY2020 to FY2022, 5.6% were charged off by June 30, 2026, against 3.6% nationally. Lenders reported 48,026 jobs supported across the 5,682 loans since FY2024, about 8.5 per loan. SBA does not audit these estimates.

## What businesses in New Jersey borrow for

Full-Service Restaurants was the largest borrower group in New Jersey, with 273 loans or 4.8% of the total.

The five largest industries made up 15% of all New Jersey loans.

**Industries with the most SBA loans in New Jersey, FY2024 to June 2026**

| Industry | Loans | Share | U.S. share |
| --- | --- | --- | --- |
| [Full-Service Restaurants](https://www.sbaexpress.loans/industries/full-service-restaurants/) | 273 | 4.8% | 4.6% |
| [Limited-Service Restaurants](https://www.sbaexpress.loans/industries/limited-service-restaurants/) | 171 | 3.0% | 3.3% |
| [Residential Remodelers](https://www.sbaexpress.loans/industries/residential-remodelers/new-jersey/) | 161 | 2.8% | 2.3% |
| [Fitness and Recreational Sports Centers](https://www.sbaexpress.loans/industries/fitness-recreational-sports-centers/) | 132 | 2.3% | 2.1% |
| [Beauty Salons](https://www.sbaexpress.loans/industries/beauty-salons/new-jersey/) | 105 | 1.8% | 1.5% |

Share is the percent of all New Jersey loans in that period. Industry is the NAICS code on each loan. A name links to the state page for that industry where one exists.

## Cities in New Jersey with SBA loan pages

Ten New Jersey cities have 100 or more SBA loans in the file, and each has its own page.

[Jersey City](https://www.sbaexpress.loans/new-jersey-small-business-loans/jersey-city/) (152 loans), [Lakewood](https://www.sbaexpress.loans/new-jersey-small-business-loans/lakewood/) (149 loans) and [Toms River](https://www.sbaexpress.loans/new-jersey-small-business-loans/toms-river/) (107 loans) lead New Jersey by loan count, together 7% of the loans since FY2024.

- [Jersey City: 152 loans, median $150,000](https://www.sbaexpress.loans/new-jersey-small-business-loans/jersey-city/)
- [Lakewood: 149 loans, median $225,000](https://www.sbaexpress.loans/new-jersey-small-business-loans/lakewood/)
- [Toms River: 107 loans, median $135,000](https://www.sbaexpress.loans/new-jersey-small-business-loans/toms-river/)
- [Newark: 88 loans, median $120,000](https://www.sbaexpress.loans/new-jersey-small-business-loans/newark/)
- [Paterson: 65 loans, median $100,000](https://www.sbaexpress.loans/new-jersey-small-business-loans/paterson/)
- [Cherry Hill: 64 loans, median $185,250](https://www.sbaexpress.loans/new-jersey-small-business-loans/cherry-hill/)
- [Clifton: 63 loans, median $150,000](https://www.sbaexpress.loans/new-jersey-small-business-loans/clifton/)
- [Edison: 58 loans, median $180,000](https://www.sbaexpress.loans/new-jersey-small-business-loans/edison/)
- [Hackensack: 58 loans, median $150,000](https://www.sbaexpress.loans/new-jersey-small-business-loans/hackensack/)
- [Trenton: 45 loans, median $286,000](https://www.sbaexpress.loans/new-jersey-small-business-loans/trenton/)

## A typical loan payment in New Jersey

The median New Jersey loan was $150,000 with a median term of 10 years.

The median variable-rate loan in New Jersey was priced at Prime plus 3.0 percentage points at approval. At today's Prime that spread works out to 10.00%. On $150,000 over 10 years, principal and interest would come to about $1,982 a month. That is arithmetic on past loans, not a rate a lender is offering.

**Payment at today's rate on three New Jersey loan sizes over 10 years**

| Loan | Amount | Monthly payment |
| --- | --- | --- |
| 25th percentile loan | $50,000 | $661 |
| Median loan | $150,000 | $1,982 |
| 75th percentile loan | $436,600 | $5,770 |

Principal and interest only. Fees, a different term or a fixed rate change the payment. This is an illustration from SBA's file, not an offer.

SBA's rate ceiling for this loan size

SBA's maximum for a loan of $150,000 is Prime plus 6.0 percentage points, or 13.00% today. The median variable-rate loan here was priced 3.0 points under that ceiling. Source: 13 CFR § 120.214(d)(2); SOP 50 10 8.1, App. 18, Para. A.2 (p. 395).

New Jersey loans approved since FY2024 had a median starting rate of 10.5% at approval, against 10.25% nationally. Prime changed during those years, so use the spread above, not that rate, as the guide to today's cost.

Run your own numbers: [payments on a $150,000 loan](https://www.sbaexpress.loans/loan-amounts/150000-business-loan/) and [SBA Express payment calculator](https://www.sbaexpress.loans/sba-express-payment-calculator/).

## SBA 504 loans and Certified Development Companies in New Jersey

New Jersey has 229 SBA 504 loans since FY2024, with $381.8 million in SBA and CDC dollars.

The median 504 loan in New Jersey was $1,109,000 in SBA and CDC dollars, 22% of the $5,000,000 program maximum. The bank's share of each project is separate and is not counted in these figures.

Trenton Business Assistance Corporation is the Certified Development Company (CDC) named on the most loans since FY2024, with 152. Empire State Certified Development Corporation follows with 71. The two CDCs listed are named on 223 loans between them.

**CDCs named on five or more 504 loans in New Jersey, FY2024 to June 2026**

| Certified Development Company | 504 loans |
| --- | --- |
| Trenton Business Assistance Corporation | 152 |
| Empire State Certified Development Corporation | 71 |

How a 504 loan is split

A standard 504 project is 50% third party lender, 40% CDC debenture, 10% borrower. 504 money pays for major fixed assets such as land, buildings and long-term machinery and equipment, not working capital or inventory. Source: SOP 50 10 8.1, Sec. C, Ch. 1, Para. B (p. 221). SBA keeps a [list of Certified Development Companies](https://www.sba.gov/loans/504-loans/list-of-certified-development-companies/).

## Common questions about SBA loans in New Jersey

### Which lenders make the most SBA loans in New Jersey?

TD Bank leads with 1,398 loans in New Jersey since FY2024. M&T Bank (592) and Newtek Bank (276) follow. 85 lenders had five or more loans approved.

### Do startups get SBA loans in New Jersey?

769 loans to startups were approved in New Jersey since FY2024, 13.5% of the total. The file lists approvals only, so it cannot show how many startups applied or were turned down.

### Does New Jersey have its own small business loan program?

NJEDA Small Business Fund, NJEDA Direct Loans and NJEDA Premier Lender Program are confirmed on official pages. The loan programs section above has the details.

How to read this

Counts come from SBA's 7(a) loan-level data release, as of June 30, 2026. The file lists loans SBA approved. It does not list declined applications, so it cannot show approval odds. We do not publish any figure built on fewer than 5 loans. Location is the borrower's address in the file. Recent means FY2024 through June 30, 2026. Charge-off rates use FY2020 to FY2022 loans, the only years old enough to have had time to go bad. Jobs supported are lender-reported estimates. [How we build these pages](https://www.sbaexpress.loans/method/).

## Sources

- [SBA 7(a) and 504 FOIA loan-level data, as of June 30, 2026](https://data.sba.gov/dataset/7a-504-foia)
- [SBA, 504 loans](https://www.sba.gov/loans/504-loans/)
- [SBA, resource partners: SBDCs and SCORE](https://www.sba.gov/counseling/local-assistance/resource-partners/)
- [SBA New Jersey District Office (Newark)](https://www.sba.gov/district/new-jersey)
- [New Jersey Small Business Development Centers](https://njsbdc.com/)
- [SCORE, New Jersey](https://www.score.org/nj/)
- [NJEDA Small Business Fund](https://www.njeda.gov/smallbusinessfund/)
- [NJEDA Direct Loans](https://www.njeda.gov/directloans/)
- [NJEDA Premier Lender Program](https://www.njeda.gov/premierlender/)
- [SOP 50 10 8.1, Sec. C, Ch. 1, Para. D.1 (p. 241); 13 CFR § 120.931](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)
- [SOP 50 10 8.1, Sec. C, Ch. 1, Para. B (p. 221)](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)
- [sba.gov/loans/504-loans; SOP 50 10 8.1, Sec. A, Ch. 3, Para. A (p. 51)](https://www.sba.gov/loans/504-loans/)
- [SOP 50 10 8.1, Sec. B, Ch. 2, Para. B.1 (p. 126)](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)
- [13 CFR § 120.214(d)(2); SOP 50 10 8.1, App. 18, Para. A.2 (p. 395)](https://www.ecfr.gov/current/title-13/section-120.214)