SBA 7(a) lenders in Somerset, NJ

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

Lenders

117 institutions have SBA 7(a) loans on record in Somerset, together $551.9M across 1,163 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	51	$41.2M	7.5%	1.16%
2	TD Bank, National Association	217	$33.7M	6.1%	6.52%
3	Provident Bank	42	$26.6M	4.8%	0.00%
4	Unity Bank	38	$24.5M	4.4%	1.07%
5	Peapack Private Bank and Trust	26	$20.4M	3.7%	0.00%
6	Newtek Small Business Finance, Inc.	20	$18.5M	3.4%	1.03%
7	Hanover Community Bank	8	$16.3M	2.9%	0.00%
8	Wells Fargo Bank National Association	51	$15.3M	2.8%	2.75%
9	Financial Resources Federal Credit Union	17	$12.4M	2.3%	7.71%
10	Firstrust Savings Bank	7	$12.2M	2.2%	0.00%
11	First National Bank of Pennsylvania	11	$12.1M	2.2%	0.00%
12	The Bank of Princeton	12	$11.8M	2.1%	3.17%
13	BCB Community Bank	9	$11.7M	2.1%	0.00%
14	JPMorgan Chase Bank, National Association	64	$10.8M	2.0%	1.17%
15	HSBC Bank USA National Association	7	$10.5M	1.9%	0.00%
16	Somerset Regal Bank	14	$10.4M	1.9%	2.51%
17	Live Oak Banking Company	15	$10.1M	1.8%	0.00%
18	Capital One National Association	6	$9.2M	1.7%	0.20%
19	PNC Bank, National Association	43	$9.0M	1.6%	8.20%
20	Celtic Bank Corporation	16	$8.7M	1.6%	3.67%
21	Meridian Bank	12	$8.4M	1.5%	0.00%
22	Manufacturers and Traders Trust Company	43	$8.0M	1.4%	12.08%
23	New Millennium Bank	15	$7.9M	1.4%	0.00%
24	Newtek Bank, National Association	15	$7.7M	1.4%	0.00%
25	Wilmington Savings Fund Society FSB	9	$7.7M	1.4%	0.00%
26	Customers Bank	5	$7.2M	1.3%	0.00%
27	Haddon Savings Bank	3	$6.8M	1.2%	0.00%
28	Hana Bank USA National Association	15	$6.6M	1.2%	3.33%
29	The Huntington National Bank	23	$6.0M	1.1%	0.98%
30	BayFirst National Bank	24	$5.7M	1.0%	0.00%
31	Beacon Bank and Trust	6	$5.7M	1.0%	0.00%
32	Columbia Bank	9	$5.2M	0.9%	0.00%
33	Northeast Bank	33	$5.1M	0.9%	0.00%
34	HomeTrust Bank	1	$5.0M	0.9%	0.00%
35	Happen Bank	6	$5.0M	0.9%	0.00%
36	NewBank	4	$4.9M	0.9%	0.00%
37	TowneBank	5	$4.8M	0.9%	0.00%
38	Magyar Bank	10	$4.8M	0.9%	0.00%
39	Hyperion Bank	4	$4.6M	0.8%	0.00%
40	Spring Bank	1	$4.0M	0.7%	91.04%
41	North Valley Bank	1	$3.9M	0.7%	0.00%
42	First Internet Bank of Indiana	4	$3.8M	0.7%	0.00%
43	Northwest FCU	1	$3.7M	0.7%	0.00%
44	FinWise Bank	1	$3.7M	0.7%	0.00%
45	FDIC - Community Bank & Trust-West Georgia	2	$3.7M	0.7%	0.00%
46	PCB Bank	3	$3.5M	0.6%	0.00%
47	First Bank of the Lake	6	$3.5M	0.6%	0.00%
48	Bank of Hope	10	$3.4M	0.6%	0.88%
49	Byline Bank	2	$3.4M	0.6%	0.00%
50	City National Bank	1	$3.2M	0.6%	0.00%
51	The Bancorp Bank National Association	3	$2.9M	0.5%	0.00%
52	Cross River Bank	1	$2.9M	0.5%	0.00%
53	Associated Bank National Association	2	$2.8M	0.5%	0.00%
54	First Financial Bank	2	$2.8M	0.5%	0.00%
55	Trenton Business Assistance Corporation	16	$2.7M	0.5%	0.00%
56	Bank of America, National Association	16	$2.4M	0.4%	8.50%
57	First Bank	3	$2.4M	0.4%	0.00%
58	The Fidelity Bank	2	$2.3M	0.4%	0.00%
59	First Bank	4	$2.2M	0.4%	0.00%
60	Readycap Lending, LLC	12	$2.1M	0.4%	19.70%
61	ConnectOne Bank	3	$1.9M	0.4%	0.00%
62	Valley National Bank	4	$1.8M	0.3%	0.00%
63	United Midwest Savings Bank National Association	11	$1.8M	0.3%	14.69%
64	Truist Bank	3	$1.8M	0.3%	0.00%
65	Northfield Bank	9	$1.8M	0.3%	0.00%
66	Cathay Bank	2	$1.7M	0.3%	2.37%
67	Pathward National Association	1	$1.7M	0.3%	0.00%
68	22nd State Bank, A Division of 22nd State Banking Company	1	$1.5M	0.3%	0.00%
69	Citizens Bank, National Association	8	$1.5M	0.3%	0.00%
70	Woori America Bank	2	$1.4M	0.3%	0.00%
71	Santander Bank, National Association	17	$1.3M	0.2%	39.68%
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	0.2%	0.00%
83	Citibank, N.A.	4	$847K	0.2%	0.00%
84	IncredibleBank	1	$780K	0.1%	0.00%
85	American Momentum Bank	1	$704K	0.1%	0.00%
86	Affinity FCU	3	$700K	0.1%	75.40%
87	North State Bank	2	$700K	0.1%	0.00%
88	Commercial Bank of California	1	$700K	0.1%	0.00%
89	Blue Foundry Bank	1	$675K	0.1%	0.00%
90	United Community Bank	1	$654K	0.1%	0.00%
91	Kearny Bank	2	$638K	0.1%	0.00%
92	Mid Penn Bank	2	$628K	0.1%	0.00%
93	Magnifi Financial CU	3	$615K	0.1%	0.00%
94	Webster Bank National Association	2	$549K	0.1%	0.00%
95	Pinnacle Bank	2	$454K	0.1%	0.00%
96	First Commerce Bank	2	$380K	0.1%	0.00%
97	Univest Bank and Trust Co	1	$350K	0.1%	0.00%
98	Haven Savings Bank	1	$330K	0.1%	0.00%
99	First Federal Bank	1	$319K	0.1%	0.00%
100	Centerstone SBA Lending, Inc.	1	$300K	0.1%	0.00%
101	Lendistry SBLC, LLC	1	$300K	0.1%	0.00%
102	Stone Bank	2	$300K	0.1%	0.00%
103	Leader Bank, National Association	1	$289K	0.1%	0.00%
104	Independence Bank	2	$275K	0.0%	0.00%
105	CTBC Bank Corp. (USA)	1	$255K	0.0%	0.00%
106	Time Bank	1	$250K	0.0%	0.00%
107	Union County Economic Development Corporation	2	$244K	0.0%	0.00%
108	Harvest Small Business Finance, LLC	1	$234K	0.0%	0.00%
109	Hanmi Bank	1	$225K	0.0%	0.00%
110	Banesco USA	1	$185K	0.0%	0.00%
111	Shinhan Bank America	1	$180K	0.0%	0.00%
112	Heritage Bank Inc	1	$150K	0.0%	0.00%
113	Skylands Community Bank	1	$115K	0.0%	86.27%
114	Colony Bank	2	$107K	0.0%	0.00%
115	Popular Bank	4	$95K	0.0%	24.52%
116	VelocitySBA, LLC	5	$55K	0.0%	30.40%
117	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	18.4%
2	Health care & social assistance	125	$73.6M	13.3%
3	Other services	154	$66.3M	12.0%
4	Professional & technical services	150	$56.8M	10.3%
5	Retail trade	94	$52.2M	9.5%
6	Wholesale trade	61	$35.6M	6.4%
7	Educational services	48	$31.4M	5.7%
8	Manufacturing	38	$24.5M	4.4%
9	Arts, entertainment & recreation	62	$22.5M	4.1%
10	Retail trade	41	$22.3M	4.0%
11	Construction	98	$19.2M	3.5%
12	Administrative & waste services	47	$10.3M	1.9%
13	Information	10	$9.8M	1.8%
14	Real estate & leasing	14	$6.5M	1.2%
15	Transportation & warehousing	34	$5.3M	1.0%
16	Manufacturing	17	$5.1M	0.9%
17	Finance & insurance	13	$4.1M	0.8%
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.