Best SBA Lenders In New Jersey (2027)
New Jersey businesses closed 2,022 SBA 7(a) loans worth $1.02B in FY2026, through 134 lenders. TD Bank led by dollar volume, and 184 of the loans financed business acquisitions.
Key Takeaways
- TD Bank was the top SBA lender in New Jersey with $86.2M across 371 loans.
- 184 business acquisitions were financed, averaging $1.2M per loan.
- The median loan was $200K, and loans averaged 11.4 years in term.
- Full-Service Restaurants drew the most SBA dollars of any industry.
Top SBA Lenders In New Jersey
Ranked by SBA 7(a) dollar volume approved in FY2026. Average rate is the rate at approval.
| # | Lender | SBA Loans | Total Volume | Avg Loan | Avg Rate | Acquisition Loans |
|---|---|---|---|---|---|---|
| 1 | TD BankWilmington, DE | 371 | $86.2M | $232K | 9.46% | 2 |
| 2 | Live Oak Banking CompanyWilmington, NC | 88 | $81.2M | $922K | 9.18% | 26 |
| 3 | Newtek BankMiami, FL | 188 | $45.4M | $242K | 10.93% | 4 |
| 4 | Provident BankJersey City, NJ | 35 | $41.1M | $1.2M | 9.06% | 13 |
| 5 | Wilmington Savings Fund Society FSBWilmington, DE | 46 | $33.1M | $720K | 9.02% | 10 |
| 6 | Manufacturers and Traders Trust CompanyBuffalo, NY | 310 | $31.8M | $103K | 10.77% | 10 |
| 7 | Financial Resources Federal Credit UnionBranchburg, NJ | 16 | $27.6M | $1.7M | 9.08% | 1 |
| 8 | Columbia BankFair Lawn, NJ | 19 | $27.6M | $1.5M | 8.68% | 8 |
| 9 | Northeast BankLewiston, ME | 146 | $27.4M | $188K | 9.88% | 0 |
| 10 | Unity BankClinton, NJ | 11 | $25.6M | $2.3M | 9.16% | 4 |
| 11 | PathwardSioux Falls, SD | 12 | $25.3M | $2.1M | 9.33% | 6 |
| 12 | Port 51 Lending LLCNew York, NY | 7 | $20.0M | $2.9M | 9.68% | 2 |
| 13 | Byline BankChicago, IL | 12 | $19.4M | $1.6M | 9.48% | 1 |
| 14 | Fifth Third BankCincinnati, OH | 10 | $19.4M | $1.9M | 8.12% | 3 |
| 15 | The Huntington National BankColumbus, OH | 60 | $18.4M | $306K | 9.40% | 11 |
Best SBA Lenders For Buying A Business In New Jersey
Business acquisition loans are SBA loans used to buy an existing company. They are larger than average and need more experience from the lender.
Most Active Acquisition Lenders
- Live Oak Banking Company26 acquisition loans
- Provident Bank13 acquisition loans
- The Huntington National Bank11 acquisition loans
- Wilmington Savings Fund Society FSB10 acquisition loans
- Manufacturers and Traders Trust Company10 acquisition loans
- Columbia Bank8 acquisition loans
Among this area's top 15 lenders by volume.
Buying A Business?
We take your deal to the SBA lenders that close the most acquisitions, so they compete for it. It is free to you.
Loan Sizes In New Jersey
How SBA dollars split by loan size.
Top Industries In New Jersey
Industries that drew the most SBA dollars.
SBA Lending In New Jersey Since 2020
SBA 7(a) dollars approved each fiscal year.
FY2026 dollar volume in New Jersey was down 14.9% from FY2025, and the loan count was down 28.6%. Part of that drop is the calendar: SBA approved no 7(a) loans in October 2025 during the federal government shutdown (October 1 to November 12, 2025), so FY2026 covers about 11 months of lending.
How To Choose An SBA Lender In New Jersey
Lending in New Jersey is spread out. 134 lenders made at least one SBA 7(a) loan, and the top five together made 28% of the dollars. That gives you room to compare offers, because no single bank sets the terms.
4 of the top 15 lenders are headquartered in NJ, including Provident Bank. Local banks can bring relationship banking and local credit knowledge; national SBA lenders bring speed and experience with larger acquisitions.
The average SBA loan here was $506K, close to the national average of $578K, and the median was $200K.
Among the top lenders with at least three loans, Fifth Third Bank had the lowest average rate at approval (8.12%). The overall average was 9.77%, and 93% of loans were variable. Rate depends heavily on loan size and term, so compare offers on the same structure.
Business acquisitions made up 21% of SBA dollars here, below the national share of 27%. 184 buyers used an SBA loan to purchase a business, with an average acquisition loan of $1.2M.
The fastest way to compare is to send one complete package to several lenders at once. That is what we do: GoSBA Loans takes your deal to the SBA lenders that fit it, and they compete for your business.
How Much You Need Down
For a business acquisition, SBA sets the minimum Down Payment. Lenders can ask for more.
- 10% minimum. SBA requires a Down Payment of at least 10% of the project for an initial business acquisition (SOP 50 10 8.1, Appendix 15).
- A seller note can cover up to half. When the seller finances part of the price on full standby, with no payments for the life of the SBA loan, it can count for up to half of the required Down Payment. That can bring your cash to 5%.
- Investors can help. Minority investors can fund part of the Down Payment. Anyone who owns 20% or more personally guarantees the loan.
- Ten year term for most acquisitions. Business acquisition loans without real estate run up to 10 years. Real estate in the deal can stretch the term.
Example For New Jersey
The average business acquisition loan here was $1.2M. At 10% down, that is a project of about $1.3M:
Illustration only. Your lender sets the final structure.
Questions About SBA Lenders In New Jersey
Who is the top SBA lender in New Jersey?
TD Bank made the most SBA 7(a) dollars in New Jersey in FY2026: $86.2M across 371 loans.
How many SBA loans were made in New Jersey?
SBA approved 2,022 7(a) loans totaling $1.02B in New Jersey in FY2026. The average loan was $506K and the median was $200K. 134 lenders made at least one loan.
What is the average SBA loan rate in New Jersey?
The average initial rate on SBA 7(a) loans in New Jersey was 9.77% (8.86% weighted by loan size). 93% of loans had a variable rate tied to the Prime Rate. SBA caps the spread a lender can charge, and larger loans usually price lower.
Which SBA lender is best for buying a business in New Jersey?
Live Oak Banking Company closed the most business acquisition loans among the top lenders here (26). The best lender for your deal depends on its size and industry, so it helps to have several lenders review it.
How much do I need down to buy a business in New Jersey with an SBA loan?
SBA requires at least 10% down for a business acquisition. A seller note on full standby can cover up to half of that, so some buyers put in 5% of their own cash. On the average acquisition loan here ($1.2M), 10% down is roughly $129K.
Does GoSBA Loans charge borrowers?
No. GoSBA Loans is 100% free to borrowers. We prepare your loan package and take it to the SBA lenders that fit your deal.
Keep Exploring
Cities In New Jersey
- Toms River$23.1M
- Jersey City$21.9M
- Tinton Falls$19.2M
- Edison$14.0M
- Freehold$13.2M
- Wayne$3.4M
- Piscataway$2.3M
- Egg Harbor Township$2.2M
Top Industries Here
About this data. Rankings use SBA 7(a) loan approvals from the SBA FOIA data set, fiscal year 2026 (October 1, 2025 to September 30, 2026), as published by SBA through September 30, 2026. Lenders are ranked by approved dollar volume. Rates are the initial rate at approval, a simple average across loans; most SBA 7(a) loans are variable and move with the Prime Rate. Business acquisition loans are those SBA marks as a change of ownership. GoSBA Loans is an SBA loan broker, not a lender, and is not affiliated with SBA.
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