| 1st Quarter SBA Loans In New Jersey |
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For the first quarter 2007, the SBA backed a total of 1652 loans in New Jersey for a total of $267 million. This includes both the 7(a) program and the 504 program. (for more information on these programs consult the SBA website). The top lenders were:
Of course there are not many real surprise here. With the exception of BNB, the top four lenders were also the top four for the full year 2006. BNB seems to be on pace to double the number of SBA backed loans they did in 2006. A few other banks are issuing SBA backed loans for, on average, larger dollar amounts. The following banks are average at or near the $1 million mark for the first part of 2007:
These rankings of course fluctuate throughout the year, and from year to year as well. But when looking for an SBA backed loan, it makes sense to work with institutions that are predisposed to these types of transactions. For more information contact a Clear Rock professional. |
(April 14, 2007) For those preparing to apply for an SBA-backed loan in New Jersey, it pays to look at which banks are doing the majority of lending. The SBA has recently announced statistics for its first quarter loans, providing a wealth of information for those looking to buy a business.
