WASHINGTON — Lenders in New Jersey approved $1.2 billion in loans backed by the U.S. Small Business Administration during the 2026 fiscal year, money the agency said created or supported nearly 17,000 jobs in the state, according to figures the SBA released Monday.
Editor’s note: The Trump administration is frequently dishonest, and has been known to lie about things great and small.
The agency said 137 lenders took part in New Jersey. The industries receiving the most SBA-backed lending in the state were accommodation and food services; retail trade; health care and social assistance; manufacturing; and other services, the SBA said.
Nationally, the SBA said it delivered $100 billion in capital and related assistance through its main programs in the 2026 fiscal year. That total includes 62,205 loans worth $39.5 billion guaranteed through its 7(a) and 504 programs, which the agency described as the third-highest lending volume in its history.
The agency said lending was slowed by a 43-day federal government shutdown that froze the 7(a) and 504 programs for nearly two months of the fiscal year. The SBA estimated it was unable to guarantee about $170 million in loans each business day during the shutdown, or roughly $5 billion in financing over that period.
SBA Administrator Kelly Loeffler credited the administration’s policies for the results. “President Trump’s America First agenda is driving historic growth within the small business economy, including record new business formations in 2026,” Loeffler said. She also said the agency had been “fighting fraud and restoring prudent lending standards” and criticized the previous administration’s management of the programs.
Matt Coleman, the SBA’s regional administrator for the Atlantic Region, which includes New Jersey, said more than $3 billion was approved in the region. He said 200 lenders submitted 6,564 loans that created or supported 48,716 jobs, including about 350 loans totaling more than $237 million for manufacturers.
Across the country, the 7(a) program approved 56,130 loans totaling $32.4 billion, and the 504 program approved 6,075 loans totaling $7.1 billion, according to the agency. The SBA said more than 9,700 startups received $6.5 billion in financing through the two programs, and rural small businesses received 10,314 loans worth $6.5 billion.
The agency also said its Small Business Investment Company program ended the year with a record $60 billion portfolio of private capital and SBA leverage, and that it approved 46 new SBIC licenses.
For disaster recovery, the SBA said it approved 5,879 disaster loans totaling $272 million and disbursed $192 million. It also obligated $419 million to its network of partners that provide counseling, training and technical help to entrepreneurs.
This report is based on a press release from the U.S. Small Business Administration.
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