# Small business loans in Paterson, NJ

**Short answer:** The most active SBA lenders in Paterson, NJ since FY2024 are TD Bank (21 loans) and M&T Bank (10). The median loan was $100,000, and half fell between $46,400 and $250,000. 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/paterson/
Data as of: 2026-06-30

## Lenders making SBA loans in Paterson

TD Bank made the most loans in Paterson, 32% of the total. The three largest lenders together made 58%.

**Lenders with five or more SBA loans in Paterson, NJ, FY2024 to June 2026**

| Lender | Loans | Share |
| --- | --- | --- |
| [TD Bank](https://www.sbaexpress.loans/sba-express-lenders/td-bank/) | 21 | 32.3% |
| [M&T Bank](https://www.sbaexpress.loans/sba-express-lenders/m-and-t-bank/) | 10 | 15.4% |
| [Wells Fargo Bank](https://www.sbaexpress.loans/sba-express-lenders/wells-fargo-bank/) | 7 | 10.8% |

Share is the percent of all Paterson loans in that period. Each name links to that lender's page for New Jersey where one exists.

Paterson has three lenders with five or more loans since FY2024. Others had fewer, and the New Jersey page counts 168 lenders with at least one approved loan statewide.

## Local help near Paterson

Paterson borrowers can start with SBA's district office for New Jersey, an SBDC or SCORE.

29% of Paterson 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. The New Jersey Small Business Development Centers gives free counseling across New Jersey.

- [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/)

Alongside SBA loans, New Jersey runs three loan programs. The [New Jersey page](https://www.sbaexpress.loans/new-jersey-small-business-loans/#loan-programs-in-new-jersey) describes each, and the official pages are linked here.

- [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/)

## Loan counts and sizes in Paterson

Paterson ranks 5th by loans since FY2024 among the 10 New Jersey cities with 100 or more SBA loans since FY2020. Nationally it is the 406th busiest of the 580 cities that reach 100 loans.

The 65 loans, 1.1% of the 5,682 in New Jersey, were approved for $21.7 million in all. The median loan was $100,000, 33% below the national median of $150,300. Half of the loans fell between $46,400 and $250,000. The Paterson median is 33% below the New Jersey median of $150,000.

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

| Measure | Paterson | New Jersey | U.S. |
| --- | --- | --- | --- |
| Loans | 65 | 5,682 | 162,355 |
| Median loan | $100,000 | $150,000 | $150,300 |
| 25th percentile | $46,400 | $50,000 | $50,000 |
| 75th percentile | $250,000 | $436,600 | $500,000 |
| Via SBA Express | 64.6% | 47.4% | 35.8% |
| Lines of credit | 53.8% | 39.9% | 28.1% |
| Startups | 0.0% | 13.5% | 16.1% |
| Ownership changes | n/a | 7.3% | 10.4% |
| Median term | 10 years | 10 years | 10 years |
| Median spread | 3.0 | 3.0 | 2.75 |
| Charged off | 11.9% | 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.

64.6% of all loans went through SBA Express, above the national 35.8%. Lines of credit were 53.8% of loans, above the national 28.1%.

SBA loans in Paterson, NJ by size, FY2024 to June 2026

- $50,000 or less (29%): 19
- $50,001 to $150,000 (34%): 22
- $150,001 to $350,000 (23%): 15
- $350,001 to $500,000: Fewer than 5
- $500,001 to $1,000,000: Fewer than 5
- $1,000,001 to $2,000,000: Fewer than 5
- Over $2,000,000: Fewer than 5

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

SBA loans in Paterson, NJ by fiscal year

- FY2020: 13
- FY2021: 14
- FY2022: 15
- FY2023: 36
- FY2024: 25
- FY2025: 23
- FY2026 (through June 30): 17

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

Volume fell 8% from FY2024 (25 loans) to FY2025 (23), the two latest full years. The busiest full year in the file was FY2023, with 36 loans. FY2026 already shows 17 loans through June 30.

Of the 42 loans Paterson borrowers received in FY2020 to FY2022, 11.9% were charged off by June 30, 2026, against 3.6% nationally. That group is small, so treat the rate as rough. Lenders reported 402 jobs supported across the 65 loans since FY2024, about 6.2 per loan. SBA does not audit these estimates.

## What businesses in Paterson borrow for

Full-Service Restaurants was the largest borrower group in Paterson since FY2020, with 6 loans or 4.2% of the total.

The five largest industries made up 20% of all Paterson loans since FY2020.

**Industries with the most SBA loans in Paterson, NJ, FY2020 to June 2026**

| Industry | Loans | Share | U.S. share |
| --- | --- | --- | --- |
| [Full-Service Restaurants](https://www.sbaexpress.loans/industries/full-service-restaurants/) | 6 | 4.2% | 4.6% |
| [Other Grocery and Related Products Merchant Wholesalers](https://www.sbaexpress.loans/industries/other-grocery-related-products-merchant-wholesalers/) | 6 | 4.2% | 0.2% |
| [Other Snack Food Manufacturing](https://www.sbaexpress.loans/industries/other-snack-food-manufacturing/) | 6 | 4.2% | <0.1% |
| [Drycleaning and Laundry Services (except Coin-Operated)](https://www.sbaexpress.loans/industries/drycleaning-laundry-services/) | 5 | 3.5% | 0.3% |
| [General Freight Trucking, Local](https://www.sbaexpress.loans/industries/general-freight-trucking-local/new-jersey/) | 5 | 3.5% | 1.1% |

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

## A typical loan payment in Paterson

The median Paterson loan was $100,000 with a median term of 10 years.

The median variable-rate loan in Paterson was priced at Prime plus 3.0 percentage points at approval. At today's Prime that spread works out to 10.00%. On $100,000 over 10 years, principal and interest would come to about $1,322 a month. That is arithmetic on past loans, not a rate a lender is offering.

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

| Loan | Amount | Monthly payment |
| --- | --- | --- |
| 25th percentile loan | $46,400 | $613 |
| Median loan | $100,000 | $1,322 |
| 75th percentile loan | $250,000 | $3,304 |

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 $100,000 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).

Paterson loans approved since FY2024 had a median starting rate of 11.25% 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 $100,000 loan](https://www.sbaexpress.loans/loan-amounts/100000-business-loan/) and [SBA Express payment calculator](https://www.sbaexpress.loans/sba-express-payment-calculator/).

## SBA 504 loans near Paterson

Paterson has 5 SBA 504 loans since FY2024, with $7.5 million in SBA and CDC dollars.

The median 504 loan in Paterson was $1,016,000 in SBA and CDC dollars, 20% 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 one Certified Development Company (CDC) named on five or more loans, 6 since FY2020.

**CDCs named on five or more 504 loans in Paterson, FY2020 to June 2026**

| Certified Development Company | 504 loans |
| --- | --- |
| Trenton Business Assistance Corporation | 6 |

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/).

## New Jersey cities near Paterson

Paterson made up 1.1% of New Jersey's SBA loans since FY2024.

Paterson is one of 10 New Jersey cities with 100 or more SBA loans since FY2020. The [New Jersey page](https://www.sbaexpress.loans/new-jersey-small-business-loans/) covers all 5,682 loans in New Jersey. The closest come first, ranked by county and ZIP code on their loans.

- [Clifton: 63 loans, median $150,000](https://www.sbaexpress.loans/new-jersey-small-business-loans/clifton/)
- [Hackensack: 58 loans, median $150,000](https://www.sbaexpress.loans/new-jersey-small-business-loans/hackensack/)
- [Jersey City: 152 loans, median $150,000](https://www.sbaexpress.loans/new-jersey-small-business-loans/jersey-city/)
- [Newark: 88 loans, median $120,000](https://www.sbaexpress.loans/new-jersey-small-business-loans/newark/)
- [Cherry Hill: 64 loans, median $185,250](https://www.sbaexpress.loans/new-jersey-small-business-loans/cherry-hill/)
- [Trenton: 45 loans, median $286,000](https://www.sbaexpress.loans/new-jersey-small-business-loans/trenton/)
- [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/)

## Common questions about SBA loans in Paterson

### Which lenders make the most SBA loans in Paterson?

TD Bank leads with 21 loans in Paterson since FY2024. M&T Bank (10) and Wells Fargo Bank (7) follow. Only lenders with five or more Paterson loans are counted.

### Which industries get SBA loans in Paterson?

Full-Service Restaurants leads with 6 loans in Paterson since FY2020. Other Grocery and Related Products Merchant Wholesalers (6) and Other Snack Food Manufacturing (6) follow.

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, and city names are as SBA recorded them. 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/)
- [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)