Few New Jersey-based banks were among the largest lenders to “The Garden State” businesses through the U.S. Small Business Administration’s 7(a) program. Whether your business is a hotel, restaurant, auto repair, medical practice, veterinary or pharmacy, your mission is to exceed your customer expectations. So, if you’re ready to step up your business to the next level, here are the top 10 SBA Lenders in New Jersey:
| State Rank | Bank | Headquarters | # Loans | Avg Loan | Avg Int |
|---|---|---|---|---|---|
| 1 | TD Bank | Wilmington, DE | 979 | $78,664 | 9.0% |
| 2 | JPMorgan Chase Bank | Columbus, OH | 126 | $157,230 | 7.3% |
| 3 | Wells Fargo | Sioux Falls, SD | 104 | $220,164 | 8.5% |
| 4 | M&T | Buffalo, NY | 87 | $142,795 | 7.5% |
| 5 | Santander Bank | Wilmington, DE | 62 | $170,731 | 8.2% |
| 6 | Noah Bank | Elkins Park, PA | 53 | $718,415 | 6.3% |
| 7 | New Millennium Bank | New Brunswick, NJ | 49 | $586,612 | 5.9% |
| 8 | PNC Bank | Wilmington, DE | 47 | $213,123 | 7.4% |
| 9 | Republic Bank | Philadelphia, PA | 43 | $926,000 | 6.2% |
| 10 | Celtic Bank | Salt Lake City, UT | 41 | $186,022 | 6.8% |
| 11 | First Home Bank | Seminole, FL | 37 | $230,676 | 6.8% |
| 12 | Independence Bank | East Greenwich, RI | 37 | $113,351 | 7.2% |
| 13 | Sturdy Savings Bank | Stone Harbor, NJ | 33 | $470,585 | 6.1% |
| 14 | Fulton Bank | Lancaster, PA | 31 | $569,516 | 6.6% |
| 15 | Regional Business Assistance Corp | Mercerville, NJ | 30 | $108,600 | 7.5% |
| 16 | NewBank | New York City, NY | 28 | $510,714 | 6.4% |
| 17 | Unity Bank | Clinton, NJ | 27 | $1,056,381 | 6.4% |
| 18 | Berkshire Bank | Pittsfield, MA | 26 | $356,750 | 6.0% |
| 19 | Live Oak | Wilmington, NC | 26 | $1,109,369 | 6.5% |
| 20 | Peapack-Gladstone Bank | Bedminster, NJ | 24 | $885,833 | 6.3% |
| 21 | Provident Bank | Jersey City, NJ | 24 | $958,667 | 6.6% |
| 22 | Newtek Small Business | Lake Success, NY | 23 | $608,435 | 6.9% |
| 23 | Grand Bank | Hamilton, NJ | 22 | $352,318 | 6.5% |
| 24 | Two River Community Bank | Middletown, NJ | 21 | $753,243 | 6.1% |
| 25 | Beneficial Bank | Philadelphia, PA | 19 | $841,589 | 5.5% |
| 26 | Kearny Bank | Kearny, NJ | 18 | $636,667 | 6.6% |
| 27 | First Bank | Southern Pines, NC | 17 | $1,681,300 | 6.0% |
| 28 | BCB Community Bank | Bayonne, NJ | 16 | $813,125 | 6.6% |
| 29 | Customers Bank | Phoenixville, PA | 16 | $495,156 | 6.3% |
| 30 | Capital One | Mclean, VA | 15 | $581,660 | 5.2% |
| 31 | Centric Bank | Harrisburg, PA | 14 | $403,929 | 6.6% |
| 32 | Citizens Bank of Pennsylvania | Philadelphia, PA | 14 | $130,507 | 6.2% |
| 33 | Columbia Bank | Fair Lawn, NJ | 14 | $351,357 | 5.7% |
| 34 | Stearns Bank | Saint Cloud, MN | 13 | $252,469 | 6.9% |
| 35 | First Commerce Bank | Lakewood, NJ | 12 | $191,167 | 6.3% |
| 36 | 1st Constitution Bank | Cranbury, NJ | 11 | $356,818 | 6.3% |
| 37 | Financial Resources FCU | Bridgewater, NJ | 11 | $523,591 | 6.5% |
| 38 | Magyar Bank | New Brunswick, NJ | 11 | $820,927 | 6.5% |
| 39 | Parke Bank | Sewell, NJ | 11 | $786,191 | 6.5% |
| 40 | 1st Colonial Community Bank | Collingswood, NJ | 10 | $411,200 | 5.6% |