Top SBA Acquisition Lenders in New Jersey
59 active SBA 7(a) lenders in New Jersey, ranked by acquisition loan count.
Lenders
in New Jersey
Total Volume
Median Rate
Median Loan Size
Top Lenders in New Jersey
Lending by Industry in New Jersey
Covers the 126 of 225 New Jersey loans that the FOIA dataset reports at the state and industry level.
Top 25 Lenders in New Jersey
| # | Lender | Loans | Volume | Rate | Default Rate |
|---|---|---|---|---|---|
| 1 | Live Oak Bank | 23 | $27.9M | P+1.50% | 0.8% |
| 2 | Peapack Private Bank and Trust | 16 | $14.6M | P+2.25% | 0.0% |
| 3 | The Huntington National Bank | 13 | $24.8M | P+2.25% | 1.7% |
| 4 | Wilmington Savings Fund Society FSB | 12 | $9.1M | P+2.00% | 2.9% |
| 5 | Bank of America, National Association | 11 | $11.9M | P+0.00% | 0.0% |
| 6 | Unity Bank | 10 | $14.2M | P+2.00% | 3.7% |
| 7 | Port 51 Lending LLC | 7 | $7.1M | P+2.75% | 0.0% |
| 8 | Readycap Lending, LLC | 7 | $8.4M | P+1.50% | 2.8% |
| 9 | Brookline Bank | 7 | $8.6M | P+2.25% | 0.8% |
| 10 | First Internet Bank of Indiana | 6 | $21.7M | P+2.75% | 1.7% |
| 11 | Truliant FCU | 6 | $12.5M | P+2.75% | 0.0% |
| 12 | Fulton Bank, National Association | 5 | $6.7M | P+2.25% | 0.0% |
| 13 | Hanover Community Bank | 5 | $23.4M | P+2.25% | 0.0% |
| 14 | TD Bank, National Association | 4 | $5.7M | P+0.00% | 0.0% |
| 15 | Grasshopper Bank National Association | 4 | $5.4M | P+2.75% | 0.0% |
| 16 | Bankwell Bank | 4 | $11.5M | P+2.50% | 0.0% |
| 17 | East West Bank | 4 | $2.9M | P+2.00% | 0.0% |
| 18 | Provident Bank | 4 | $16.1M | P+2.25% | 0.0% |
| 19 | Newtek Bank, National Association | 4 | $1.9M | P+3.00% | 0.0% |
| 20 | BayFirst National Bank | 4 | $3.0M | P+2.75% | 4.5% |
| 21 | ConnectOne Bank | 3 | $1.4M | P+2.50% | 0.0% |
| 22 | Shinhan Bank America | 3 | $4.4M | P+1.50% | 0.0% |
| 23 | Meridian Bank | 3 | $4.0M | P+2.25% | 2.7% |
| 24 | T Bank, National Association | 3 | $11.8M | P+2.00% | 0.0% |
| 25 | New Millennium Bank | 3 | $900K | P+1.50% | 0.7% |
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Customize your search →SBA 7(a) Lending in New Jersey
New Jersey has 59 active SBA 7(a) acquisition lenders that have originated a combined 225 loans totaling $327.2M in volume. The median acquisition loan size in New Jersey is $1250K, with a median interest rate of Prime + 2.25% (Prime + spread).
When evaluating SBA lenders in New Jersey, consider loan volume (a proxy for experience), interest rates, and historical default rates. Lenders designated as PLP (Preferred Lender Program) have delegated authority from the SBA to approve loans, which typically results in faster processing times.
Frequently Asked Questions
How many SBA 7(a) lenders are active in New Jersey?
There are currently 59 active SBA 7(a) lenders in New Jersey based on FOIA lending data. These lenders have originated 225 acquisition loans.
What is the typical SBA loan rate in New Jersey?
The median SBA 7(a) acquisition loan rate in New Jersey is Prime + 2.25% (current Prime rate: 6.75%). Rates are typically expressed as Prime plus a spread, with the SBA capping the spread at 3.0% for loans over $250,000.
What is a PLP lender?
A PLP (Preferred Lender Program) lender has been granted delegated authority by the SBA to make credit decisions without prior SBA review. This typically means faster loan processing and approval timelines.
Data source: SBA 7(a) FOIA lending data. Rankings are based on loan count within the selected dimension. Rates shown are median interest rates expressed as Prime + spread. Default rates represent 10-year cumulative default rates. Data is refreshed periodically and may not reflect the most recent lending activity.
Figures shown here are historical SBA 7(a) lending data presented for general information only. They are not an offer of credit, a prediction of the terms you will receive, or financial advice. VerSquare is not a licensed broker, lender, or financial advisor. Consult a licensed professional before making a financing decision.