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NJ SBA Lending Uptick

NJBIZ reported last week that SBA loan volume in New Jersey surged 23% in Q4 2012.

By Frank Romeo | Updated on February 05, 2013

NJBIZ reported last week that SBA loan volume in New Jersey surged 23% in Q4 2012.  This was surprising considering the negative expectations from the Superstorm Sandy aftermath.  A contributing factor is that the max SBA loan amount was raised from 2 million to 5 million which will make property, which is relatively expensive in NJ, more accessible for small businesses.  The strength of Q4 could be an indicator of a robust 2013 for New Jersey and the increase in loan amount will likely lead to the purchase of more real estate. 

Environmental issues can often complicate a transaction or transfer of commercial property, for example by making a loan harder to repay if costly environmental cleanup is needed at a site.  For this and other reasons, the SBA has very specific requirements regarding environmental due diligence for 7a and 504 loans. 

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