Last annual update:
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 | 704 | $116,475 | 9.6% |
| 2 | Wells Fargo | Sioux Falls, SD | 93 | $233,087 | 9.5% |
| 3 | M&T | Buffalo, NY | 92 | $121,983 | 8.7% |
| 4 | JPMorgan Chase Bank | Columbus, OH | 80 | $194,593 | 8.5% |
| 5 | Santander Bank | Wilmington, DE | 72 | $301,085 | 8.6% |
| 6 | PNC Bank | Wilmington, DE | 61 | $124,921 | 7.8% |
| 7 | Independence Bank | East Greenwich, RI | 50 | $120,000 | 6.6% |
| 8 | NewBank | New York City, NY | 45 | $599,344 | 6.9% |
| 9 | Republic Bank | Philadelphia, PA | 44 | $1,423,307 | 6.5% |
| 10 | Newtek Small Business | Lake Success, NY | 40 | $711,183 | 7.6% |
| 11 | Berkshire Bank | Pittsfield, MA | 35 | $456,429 | 6.9% |
| 12 | Noah Bank | Elkins Park, PA | 34 | $703,029 | 7.3% |
| 13 | Celtic Bank | Salt Lake City, UT | 32 | $197,850 | 7.6% |
| 14 | Peapack-Gladstone Bank | Bedminster, NJ | 32 | $703,281 | 7.2% |
| 15 | Stearns Bank | Saint Cloud, MN | 26 | $223,054 | 7.6% |
| 16 | Trenton Business | Mercerville, NJ | 24 | $153,663 | 8.2% |
| 17 | First Bank | Southern Pines, NC | 21 | $929,081 | 7.3% |
| 18 | First Home Bank | Seminole, FL | 21 | $392,667 | 7.7% |
| 19 | Savoy Bank | New York City, NY | 18 | $1,585,711 | 6.9% |
| 20 | Sturdy Savings Bank | Stone Harbor, NJ | 18 | $774,678 | 6.5% |
| 21 | Live Oak | Wilmington, NC | 17 | $1,494,118 | 6.7% |
| 22 | New Millennium Bank | New Brunswick, NJ | 17 | $683,235 | 6.4% |
| 23 | Capital One | Mclean, VA | 15 | $622,207 | 5.7% |
| 24 | Magyar Bank | New Brunswick, NJ | 15 | $750,567 | 7.2% |
| 25 | Provident Bank | Jersey City, NJ | 15 | $988,080 | 7.4% |
| 26 | Two River Community Bank | Middletown, NJ | 15 | $1,059,767 | 6.9% |
| 27 | Unity Bank | Clinton, NJ | 15 | $1,231,200 | 7.1% |
| 28 | FinWise Bank | Sandy, UT | 14 | $1,371,000 | 7.3% |
| 29 | 1st Constitution Bank | Cranbury, NJ | 13 | $1,008,077 | 6.6% |
| 30 | Fulton Bank | Lancaster, PA | 13 | $1,103,692 | 6.9% |
| 31 | United Midwest Savings Bank | De Graff, OH | 13 | $192,846 | 7.7% |
| 32 | Radius Bank | Boston, MA | 12 | $1,104,258 | 7.5% |
| 33 | Atlantic Stewardship Bank | Midland Park, NJ | 12 | $685,792 | 7.3% |
| 34 | Wilmington Savings Fund Society | Wilmington, DE | 11 | $490,273 | 7.0% |
| 35 | Dime Community Bank | New York City, NY | 11 | $548,955 | 7.3% |
| 36 | Citizens Bank of Pennsylvania | Philadelphia, PA | 10 | $642,750 | 5.9% |
| 37 | Lakeland Bank | Newfoundland, NJ | 10 | $571,000 | 7.1% |
| 38 | Tioga-Franklin Savings Bank | Philadelphia, PA | 10 | $206,000 | 7.4% |
| 39 | BCB Community Bank | Bayonne, NJ | 9 | $1,846,667 | 6.0% |
| 40 | Financial Resources FCU | Bridgewater, NJ | 9 | $295,468 | 7.4% |