Best New Jersey SBA Lenders & Rates (2026)
2025 FOIA data: top lenders, rates, industries & loan types in New Jersey
SBA Loans in New Jersey
New Jersey businesses received $1.21B in SBA 7(a) loan approvals across 2,831 businesses in 2025, supporting 24,275 jobs. With 136 active SBA lenders competing for business in New Jersey, comparing offers is essential — rates vary significantly by lender.
The average SBA loan in New Jersey is $426K at 10.61%, which is 0.29% above the national average of 10.32%. The top lender in New Jersey is TD Bank, National Association, with the most-funded industry being Full-Service Restaurants.
SBA Loans in New Jersey by Business Type
Whether you’re starting a business, buying one, or expanding an existing operation in New Jersey, here’s how SBA lending breaks down:
Startups represent 16% of New Jersey SBA loans (349 loans totaling $192.0M). Business acquisitions (change of ownership) account for 20% (191 loans, $239.4M). Existing businesses make up the largest share at 51% (1855 loans). If you’re buying a business in New Jersey, acquisitions are a well-established use case for SBA 7(a) loans.
New Jersey vs. National Average
How does New Jersey’s SBA lending market compare to the national average in 2025?
New Jersey10.61%
National Avg10.32%
New Jersey’s avg rate is 0.29% higher than the national average
New Jersey$426K
National Avg$478K
New Jersey’s avg loan is 0.9x the national average
A rate higher than the national average of 10.32% is significant context for New Jersey borrowers. Individual rates depend on your credit profile, deal structure, loan size, and the specific lender you work with — which is why comparing multiple offers from different banks is consistently the best strategy to get the lowest possible rate on your SBA loan.
Top SBA Lenders in New Jersey (2025 Data)
The table below ranks every SBA 7(a) lender active in New Jersey in 2025 by total dollar volume approved. This data comes directly from SBA FOIA records and represents actual funded loans — not pre-qualifications or applications received.
| # | Lender | Volume | Loans | Avg Rate |
|---|---|---|---|---|
| 1 | TD Bank, National Association | $111.1M | 644 | 10.59% |
| 2 | Live Oak Banking Company | $79.8M | 77 | 9.46% |
| 3 | Newtek Bank, National Association | $60.0M | 159 | 11.19% |
| 4 | Northeast Bank | $52.2M | 312 | 11% |
| 5 | Readycap Lending, LLC | $47.4M | 119 | 11.43% |
| 6 | Provident Bank | $43.3M | 40 | 9.44% |
| 7 | The Huntington National Bank | $42.8M | 98 | 9.86% |
| 8 | Fulton Bank, National Association | $27.9M | 37 | 9.79% |
| 9 | Bank of America, National Association | $27.5M | 35 | 7.06% |
| 10 | JPMorgan Chase Bank, National Association | $25.9M | 97 | 11.7% |
| 11 | Manufacturers and Traders Trust Company | $25.3M | 271 | 11.6% |
| 12 | GBank | $25.3M | 6 | 8.79% |
| 13 | Peapack Private Bank and Trust | $25.1M | 26 | 9.68% |
| 14 | Wells Fargo Bank National Association | $25.0M | 56 | 10.56% |
| 15 | Hanover Community Bank | $24.6M | 9 | 9.53% |
Pay close attention to the “Avg Rate” column — rates vary significantly between lenders operating in the same state. The spread between the lowest and highest rate in this table can represent tens of thousands of dollars over the life of your loan. The top lenders in New Jersey have funded the most deals locally, meaning their loan officers understand New Jersey’s commercial real estate values, industry mix, and economic conditions. This familiarity typically translates into faster underwriting and more competitive terms.
However, don’t limit your search to local banks alone. Many of the top national SBA lenders fund loans across all 50 states and may offer better rates or more experience with your specific industry. An SBA loan broker like GoSBA gives you access to both New Jersey-based lenders and national lenders with a single application — ensuring you get the most competitive offer available.
Get Matched with the Best SBA Lender in New Jersey
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Top Industries Funded in New Jersey
SBA lending in New Jersey reflects the state’s economic profile and business formation trends. The table below shows which industries received the most SBA 7(a) funding in New Jersey in 2025, ranked by total dollar volume:
| Industry | Loans | Volume |
|---|---|---|
| Full-Service Restaurants | 143 | $93.0M |
| Fitness and Recreational Sports Centers | 74 | $31.8M |
| Limited-Service Restaurants | 81 | $29.3M |
| Hotels (except Casino Hotels) and Motels | 7 | $26.4M |
| Child Day Care Services | 41 | $24.8M |
| Engineering Services | 20 | $24.5M |
| Plumbing, Heating, and Air-Conditioning Contractors | 45 | $23.6M |
| Pet Care (except Veterinary) Services | 31 | $19.4M |
| Other Personal Care Services | 39 | $15.8M |
| Car Washes | 13 | $15.3M |
| Other Miscellaneous Durable Goods Merchant Wholesalers | 17 | $15.0M |
| Veterinary Services | 11 | $13.9M |
| Offices of Dentists | 28 | $13.3M |
| Residential Remodelers | 75 | $12.8M |
| All Other Professional, Scientific, and Technical Services | 30 | $12.8M |
If your business operates in one of New Jersey’s top-funded industries, you’re in a strong position. Lenders who have funded dozens of similar businesses in your state understand the unit economics, seasonal revenue patterns, and typical margins for your sector. This familiarity translates into faster approvals, less documentation back-and-forth, and more accurate risk pricing — which typically means better terms for the borrower.
Even if your industry isn’t listed above, SBA 7(a) loans are available for nearly every legal business type. An SBA loan broker can identify which lenders have the most experience with your specific industry.
Top Cities for SBA Loans in New Jersey
SBA lending activity within New Jersey is concentrated in major metropolitan areas, but businesses in smaller cities and towns also receive significant funding. The table below shows where in New Jersey the most SBA 7(a) loans were funded in 2025:
| City | Loans | Volume |
|---|---|---|
| Lakewood | 77 | $29.2M |
| Jersey City | 80 | $24.2M |
| Piscataway | 26 | $18.4M |
| Cherry Hill | 30 | $17.5M |
| Edison | 30 | $17.4M |
| Toms River | 50 | $16.7M |
| Freehold | 28 | $16.2M |
| Tinton Falls | 8 | $15.3M |
| Flemington | 13 | $15.3M |
| Wayne | 25 | $13.9M |
How to Get an SBA Loan in New Jersey
Option 1: Apply directly to one of the top New Jersey lenders above. You’ll get a single quote from one bank.
Option 2: Use an SBA loan broker (recommended). GoSBA Loans submits your application to multiple New Jersey-active lenders simultaneously, creating competition for your deal. Better rates, faster approvals — at no cost to you.
Frequently Asked Questions
How many SBA loans were funded in New Jersey in 2025?
What is the average SBA loan interest rate in New Jersey?
Can I get an SBA loan to start a business in New Jersey?
Who is the top SBA lender in New Jersey?
What industries get the most SBA loans in New Jersey?
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Data sourced from official SBA 7(a) FOIA loan approval records for Calendar Year 2025, published by the U.S. Small Business Administration. For official information, visit sba.gov.
