SBA 7(a) lenders in Somerset, NJ

Approvals in SBA fiscal years 2008–2026. Source data as of 2026-06-30.

Lenders

114 institutions have SBA 7(a) loans on record in Somerset, together $569.0M across 1,187 loans. Fulton Bank, National Association is the largest, with 7% of approvals.

Showing

Yearsto

Rank	Lender	Loans	Approved	Share	Loss rate
1	Fulton Bank, National Association	53	$42.5M	7.5%	1.13%
2	TD Bank, National Association	221	$33.9M	6.0%	6.47%
3	Provident Bank	43	$28.0M	4.9%	0.00%
4	Unity Bank	39	$24.8M	4.4%	1.06%
5	Peapack Private Bank and Trust	26	$20.4M	3.6%	0.00%
6	Lender 2057189	20	$18.5M	3.3%	1.03%
7	Hanover Community Bank	8	$16.3M	2.9%	0.00%
8	Wells Fargo Bank National Association	51	$15.3M	2.7%	2.75%
9	Financial Resources Federal Credit Union	18	$14.9M	2.6%	6.42%
10	Firstrust Savings Bank	8	$12.7M	2.2%	0.00%
11	First National Bank of Pennsylvania	11	$12.1M	2.1%	0.00%
12	The Bank of Princeton	12	$11.8M	2.1%	3.17%
13	BCB Community Bank	9	$11.7M	2.0%	0.00%
14	JPMorgan Chase Bank, National Association	65	$11.0M	1.9%	1.15%
15	HSBC Bank USA National Association	7	$10.5M	1.8%	0.00%
16	Somerset Regal Bank	14	$10.4M	1.8%	2.51%
17	Live Oak Banking Company	15	$10.1M	1.8%	0.00%
18	Capital One National Association	6	$9.2M	1.6%	0.20%
19	PNC Bank, National Association	43	$9.0M	1.6%	8.20%
20	Columbia Bank	19	$8.9M	1.6%	0.00%
21	Celtic Bank Corporation	16	$8.7M	1.5%	3.67%
22	Newtek Bank, National Association	20	$8.5M	1.5%	0.00%
23	Meridian Bank	12	$8.4M	1.5%	0.00%
24	Manufacturers and Traders Trust Company	44	$8.0M	1.4%	12.04%
25	Bank of Hope	12	$8.0M	1.4%	0.37%
26	New Millennium Bank	15	$7.9M	1.4%	0.00%
27	Wilmington Savings Fund Society FSB	9	$7.7M	1.4%	0.00%
28	Customers Bank	5	$7.2M	1.3%	0.00%
29	Haddon Savings Bank	3	$6.8M	1.2%	0.00%
30	Hana Bank USA National Association	15	$6.6M	1.2%	3.33%
31	The Huntington National Bank	23	$6.0M	1.1%	0.98%
32	BayFirst National Bank	24	$5.7M	1.0%	0.00%
33	Beacon Bank and Trust	6	$5.7M	1.0%	0.00%
34	Northeast Bank	35	$5.6M	1.0%	0.00%
35	HomeTrust Bank	1	$5.0M	0.9%	0.00%
36	Happen Bank	6	$5.0M	0.9%	0.00%
37	NewBank	4	$4.9M	0.9%	0.00%
38	TowneBank	5	$4.8M	0.9%	0.00%
39	Magyar Bank	10	$4.8M	0.8%	0.00%
40	Hyperion Bank	4	$4.6M	0.8%	0.00%
41	Byline Bank	3	$4.1M	0.7%	0.00%
42	Spring Bank	1	$4.0M	0.7%	91.04%
43	North Valley Bank	1	$3.9M	0.7%	0.00%
44	First Internet Bank of Indiana	4	$3.8M	0.7%	0.00%
45	Northwest FCU	1	$3.7M	0.7%	0.00%
46	FinWise Bank	1	$3.7M	0.7%	0.00%
47	FDIC - Community Bank & Trust-West Georgia	2	$3.7M	0.6%	0.00%
48	PCB Bank	3	$3.5M	0.6%	0.00%
49	First Bank of the Lake	6	$3.5M	0.6%	0.00%
50	American Momentum Bank	2	$3.3M	0.6%	0.00%
51	City National Bank	1	$3.2M	0.6%	0.00%
52	The Bancorp Bank National Association	3	$2.9M	0.5%	0.00%
53	Cross River Bank	1	$2.9M	0.5%	0.00%
54	Associated Bank National Association	2	$2.8M	0.5%	0.00%
55	First Financial Bank	2	$2.8M	0.5%	0.00%
56	Trenton Business Assistance Corporation	16	$2.7M	0.5%	0.00%
57	Bank of America, National Association	16	$2.4M	0.4%	8.50%
58	First Bank	3	$2.4M	0.4%	0.00%
59	The Fidelity Bank	2	$2.3M	0.4%	0.00%
60	First Bank	4	$2.2M	0.4%	0.00%
61	United Midwest Savings Bank National Association	12	$2.1M	0.4%	12.29%
62	Readycap Lending, LLC	12	$2.1M	0.4%	19.70%
63	ConnectOne Bank	3	$1.9M	0.3%	0.00%
64	Santander Bank, National Association	19	$1.9M	0.3%	27.94%
65	Valley National Bank	4	$1.8M	0.3%	0.00%
66	Truist Bank	3	$1.8M	0.3%	0.00%
67	Cathay Bank	2	$1.7M	0.3%	2.37%
68	Pathward National Association	1	$1.7M	0.3%	0.00%
69	22nd State Bank, A Division of 22nd State Banking Company	1	$1.5M	0.3%	0.00%
70	Citizens Bank, National Association	8	$1.5M	0.3%	0.00%
71	Woori America Bank	2	$1.4M	0.2%	0.00%
72	Manasquan Bank	3	$1.3M	0.2%	0.00%
73	OceanFirst Bank, National Association	6	$1.3M	0.2%	0.00%
74	Simmons Bank	4	$1.2M	0.2%	0.00%
75	Milestone Bank	3	$1.2M	0.2%	20.66%
76	CRF Small Business Loan Company, LLC	4	$1.2M	0.2%	0.00%
77	Stearns Bank National Association	6	$1.2M	0.2%	0.00%
78	Crown Bank	2	$1.1M	0.2%	0.00%
79	Banc of California	2	$1.1M	0.2%	0.00%
80	Quaint Oak Bank	1	$916K	0.2%	0.00%
81	First-Citizens Bank & Trust Company	2	$906K	0.2%	0.00%
82	First Merchants Bank	1	$849K	0.1%	0.00%
83	Citibank, N.A.	4	$847K	0.1%	0.00%
84	IncredibleBank	1	$780K	0.1%	0.00%
85	North State Bank	2	$700K	0.1%	0.00%
86	Commercial Bank of California	1	$700K	0.1%	0.00%
87	Affinity FCU	3	$700K	0.1%	75.40%
88	United Community Bank	1	$654K	0.1%	0.00%
89	Kearny Bank	2	$638K	0.1%	0.00%
90	Mid Penn Bank	2	$628K	0.1%	0.00%
91	Magnifi Financial CU	3	$615K	0.1%	0.00%
92	Pinnacle Bank	2	$454K	0.1%	0.00%
93	First Commerce Bank	2	$380K	0.1%	0.00%
94	Univest Bank and Trust Co	1	$350K	0.1%	0.00%
95	Haven Savings Bank	1	$330K	0.1%	0.00%
96	First Federal Bank	1	$319K	0.1%	0.00%
97	Stone Bank	2	$300K	0.1%	0.00%
98	Lendistry SBLC, LLC	1	$300K	0.1%	0.00%
99	Centerstone SBA Lending, Inc.	1	$300K	0.1%	0.00%
100	Leader Bank, National Association	1	$289K	0.1%	0.00%
101	Independence Bank	2	$275K	0.0%	0.00%
102	CTBC Bank Corp. (USA)	1	$255K	0.0%	0.00%
103	Time Bank	1	$250K	0.0%	0.00%
104	Union County Economic Development Corporation	2	$244K	0.0%	0.00%
105	Harvest Small Business Finance, LLC	1	$234K	0.0%	0.00%
106	Hanmi Bank	1	$225K	0.0%	0.00%
107	Banesco USA	1	$185K	0.0%	0.00%
108	Shinhan Bank America	1	$180K	0.0%	0.00%
109	Heritage Bank Inc	1	$150K	0.0%	0.00%
110	Skylands Community Bank	1	$115K	0.0%	86.27%
111	Colony Bank	2	$107K	0.0%	0.00%
112	Popular Bank	4	$95K	0.0%	24.52%
113	VelocitySBA, LLC	5	$55K	0.0%	30.40%
114	SoFi Bank, National Association	1	$21K	0.0%	0.00%

Loss rates cover every approval year on record together. SBA 7(a) losses peak two to four years after approval, so a lender whose lending is mostly recent will show a low rate because its loans have not aged yet, not because they are performing better.

What the money went into

Rank	Industry	Loans	Approved	Share of county
1	Accommodation & food services	142	$101.4M	17.8%
2	Health care & social assistance	127	$75.6M	13.3%
3	Other services	158	$69.4M	12.2%
4	Retail trade	96	$58.6M	10.3%
5	Professional & technical services	153	$57.4M	10.1%
6	Wholesale trade	63	$36.2M	6.4%
7	Educational services	48	$31.4M	5.5%
8	Manufacturing	38	$24.5M	4.3%
9	Arts, entertainment & recreation	65	$23.3M	4.1%
10	Retail trade	42	$22.6M	4.0%
11	Construction	101	$22.0M	3.9%
12	Administrative & waste services	48	$10.5M	1.8%
13	Information	10	$9.8M	1.7%
14	Real estate & leasing	15	$6.5M	1.2%
15	Transportation & warehousing	36	$5.6M	1.0%
16	Manufacturing	17	$5.1M	0.9%
17	Finance & insurance	13	$4.1M	0.7%
18	Manufacturing	8	$2.0M	0.4%
19	Management of companies	1	$1.5M	0.3%
20	Agriculture, forestry & fishing	3	$1.0M	0.2%
21	Transportation & warehousing	2	$275K	0.0%
22	Utilities	1	$135K	0.0%

Industry is the borrower’s NAICS sector as recorded by SBA at approval, grouped to the two-digit sector.

About this data

Built from the U.S. Small Business Administration’s 7(a) FOIA data release, a public record covering approvals from fiscal year 2008 onward and refreshed each quarter. SBA fiscal years end 30 September, so the most recent year is partial. Figures are approvals, not outstanding balances, and SBA attributes each loan to the institution that holds it today rather than the one that originated it — an acquisitive lender therefore shows books it did not write.