apply for a New Jersey SBA Loan
Last annual update:
Note: On March 31 the Treasury and SBA released important information regarding CARES Act SBA 7(a) loans. We encourage you to read our blog post and act quickly.
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 SBA Lenders in New Jersey:
| State Rank | Bank | Headquarters | # Loans | Avg Loan | Avg Int |
|---|---|---|---|---|---|
| 1 | TD Bank | Wilmington, DE | 579 | $103,390 | 10.0% |
| 2 | M&T | Buffalo, NY | 111 | $151,292 | 9.2% |
| 3 | Wells Fargo | Sioux Falls, SD | 87 | $192,663 | 9.8% |
| 4 | Santander Bank | Wilmington, DE | 77 | $142,306 | 9.3% |
| 5 | JPMorgan Chase Bank | Columbus, OH | 70 | $237,021 | 8.6% |
| 6 | PNC Bank | Wilmington, DE | 67 | $145,307 | 7.9% |
| 7 | First Home Bank | Saint Petersburg, FL | 48 | $248,206 | 8.1% |
| 8 | Newtek Small Business Finance | Lake Success, NY | 42 | $662,286 | 8.2% |
| 9 | Berkshire Bank | Pittsfield, MA | 34 | $1,096,897 | 7.8% |
| 10 | Fulton Bank | Lancaster, PA | 33 | $549,470 | 8.9% |
| 11 | Peapack-Gladstone Bank | Bedminster, NJ | 29 | $919,034 | 7.5% |
| 12 | Trenton Business | Mercerville, NJ | 29 | $107,931 | 7.6% |
| 13 | NewBank | New York City, NY | 25 | $266,440 | 7.4% |
| 14 | Republic Bank | Philadelphia, PA | 24 | $1,874,992 | 7.0% |
| 15 | New Millennium Bank | Fort Lee, NJ | 24 | $801,583 | 7.0% |
| 16 | Stearns Bank | Saint Cloud, MN | 22 | $207,900 | 8.0% |
| 17 | Savoy Bank | New York City, NY | 21 | $720,033 | 7.4% |
| 18 | Five Star Bank | Rancho Cordova, CA | 19 | $240,789 | 8.0% |
| 19 | Independence Bank | East Greenwich, RI | 19 | $139,474 | 5.4% |
| 20 | Live Oak | Wilmington, NC | 18 | $1,035,389 | 6.9% |
| 21 | Meridian Bank | Malvern, PA | 18 | $517,111 | 7.5% |
| 22 | Bank of Hope | Los Angeles, CA | 17 | $530,882 | 7.4% |
| 23 | Columbia Bank | Fair Lawn, NJ | 16 | $743,125 | 7.3% |
| 24 | First Bank | Hamilton, NJ | 16 | $534,938 | 7.7% |
| 25 | United Midwest Savings Bank | De Graff, OH | 16 | $147,250 | 7.9% |