NJ SBA Loan Statistics

We just saw the new stats out on SBA loans for the 2nd Quarter (ie calendar 1Q13) and thought we’d drop a note on here about it.   We have some valuations for SBA Loans in that pack – overall the numbers look pretty decent.

 

2Q13 SBA Loans for the New Jersey District

 

Lender Name Number of Loans Gross Approval Amount
Noah Bank 17 $ 26,870,000
Republic First Bank d/b/a Repu 13 $ 19,790,000
TD Bank, National Association 16 $ 6,345,000
BCB Community Bank 10 $ 5,807,000
Newtek Small Business Finance, 2 $ 5,325,000
Indus American Bank 4 $ 4,868,000
Spring Bank 1 $ 4,600,000
Unity Bank 8 $ 4,472,000
BankAsiana 10 $ 4,400,000
Wells Fargo Bank, National Ass 11 $ 3,999,800
Financial Resources FCU 10 $ 3,945,000
Fulton Bank of New Jersey 7 $ 3,578,000
JPMorgan Chase Bank, National 21 $ 3,567,400
Sovereign Bank, National Assoc 17 $ 3,368,000
NewBank 10 $ 3,350,000
Kearny Federal Savings Bank 5 $ 3,020,000
The Provident Bank 2 $ 2,570,000
Woori America Bank 3 $ 2,140,000
MileStone Bank 3 $ 1,695,000
1st Colonial Communiy Bank 6 $ 1,535,000
Parke Bank 1 $ 1,430,000
PNC Bank, National Association 8 $ 1,360,000
First Bank 1 $ 1,350,000
Cornerstone Bank 1 $ 1,333,000
Colonial American Bank 5 $ 1,150,000

 

Crunching the Numbers

Sometimes we look at these and see high loan counts and low average dollars, and other times it’s the opposite.  Notable in this quarter, Noah had a high average (nearly $1.6m on average) AND a high count.  JPMorgan was a bit the opposite – 21 loans but only an average of $169k.  Overall the average for the top 25 NJ lenders was just over $600k – pretty solid compared to some of the other areas we have seen.

 

 

 

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