SBA Loans for Homes for the Elderly in New Jersey: Top Lenders
NAICS 623NAICS 623 covers homes for the elderly businesses in New Jersey. Based on historical SBA 7(a) lending data.
Total Approvals
5
in New Jersey
Median Loan Size
$1,047,000
per approval
Recent Activity
0
last 90 days through Oct 2023
NAICS 623 covers homes for the elderly businesses. This is a smaller category in SBA 7(a) lending with 5 approvals on record and a median loan size of $1,047,000.
Key trends & insights
- Homes for the Elderly in New Jersey lending is concentrated — Finwise Bank, Lendingclub Bank, National Association, Manufacturers AND Traders Trust Company together account for 60% of all approvals. If you're in this industry, these are your highest-probability lenders.
- Finwise Bank leads this industry with 1 approvals (20% market share) and a median loan of $1,047,000.
- Homes for the Elderly in New Jersey loans run larger than the SBA average — a $1,047,000 median vs. ~$450,000 across all industries. These businesses typically need more capital.
- SBA data for this industry goes through 2023-10-06 — the SBA releases lending data on a quarterly lag, so recent activity may not yet be reflected.
Most active SBA lenders for Homes for the Elderly in New Jersey
| # | Lender | Approvals | Median Size |
|---|---|---|---|
| 1 | 1 | $1,047,000 | |
| 2 | 1 | $774,000 | |
| 3 | 1 | $50,000 | |
| 4 | 1 | $3,895,000 | |
| 5 | 1 | $1,700,000 |
Recent SBA 7(a) approvals for Homes for the Elderly in New Jersey
| Month | Lender | Borrower | Location | Amount |
|---|---|---|---|---|
| 2024-04 | Live Oak Banking Company | THE*****LLC | HIGHTSTOWN, NJ | $100,000 |
| 2024-04 | Live Oak Banking Company | THE*****LLC | HIGHTSTOWN, NJ | $2,550,000 |
| 2024-04 | Live Oak Banking Company | THE*****LLC | HIGHTSTOWN, NJ | $100,000 |
| 2023-10 | Manufacturers and Traders Trust Company | PAT*****LLC | TOMS RIVER, NJ | $50,000 |
| 2023-06 | Peapack Private Bank and Trust | Glo*****LLC | GLADSTONE, NJ | $1,700,000 |
| 2023-04 | LendingClub Bank, National Association | MAH*****LLC | FLEMINGTON, NJ | $774,000 |
| 2022-12 | FinWise Bank | Sho*****LLC | Woodbury, NJ | $1,047,000 |
| 2021-03 | Financial Resources Federal Credit Union | Ava*****nc. | RINGWOOD, NJ | $3,895,000 |
Source: Historical SBA 7(a) lending records. Borrower names partially masked for privacy.
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