Top SBA Acquisition Lenders in New Jersey
59 active SBA 7(a) lenders in New Jersey, ranked by loan volume.
Lenders
in New Jersey
Total Volume
Median Rate
Median Loan Size
Top Lenders in New Jersey
Top 25 Lenders in New Jersey
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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.