Contractors take almost one in four Gloucester SBA loans
In the first nine months of FY2026, 7(a) lending in the county reached $30.5 million, against $27.4 million in all of FY2025 [1]. Construction firms took 49 of Gloucester's 212 SBA loans, worth $17.6 million, at a median of $215,000 [1]. Residential remodelers (9), electricians (6), structural steel and precast concrete contractors (5), specialty trades (5) and plumbing and HVAC firms (5) led [1]. The county had 709 construction establishments in 2023, 11.3% of all its business locations [2].
Worked example: $215,000 SBA 7(a) loan for a Gloucester contractor
For variable 7(a) loans of $50,001 to $250,000, the SBA's maximum is the base rate plus 6.0% [3]. Prime stood at 7.00% on Oct 20, 2026 [4], so the cap is 13.0%.
At the cap, $215,000 over 10 years costs $3,210.18 a month and $170,221.71 in interest. Your quoted rate may be lower. For trucks and machines, compare the payment with equipment financing on the same term.
Family entertainment and franchise loans run large
Arts and recreation businesses took only 14 SBA loans, but they were worth $13.3 million at a median of $715,450 [1]. Six amusement and recreation loans had a median of $972,600 [1]. Franchises were common: Playa Bowls and Hand and Stone Massage and Facial Spa each had 3 loans, and Launch Family Entertainment and Monster Mini Golf 2 each [1].
Beauty salons took 7 loans worth $4.7 million at a median of $400,000; in neighboring Burlington County, 12 salon loans had a median of $47,200 [1]. Full-service restaurants took 8 at a median of $358,000 [1].
Sewell, Williamstown, Woodbury and Glassboro
| Town | SBA loans | SBA dollars | Median loan | Establishments |
|---|---|---|---|---|
| Sewell | 32 | $19.7 million | $222,500 | 921 |
| Williamstown | 24 | $6.5 million | $124,250 | 674 |
| Woodbury | 21 | $7.9 million | $150,000 | 958 |
| Mullica Hill | 21 | $13.9 million | $105,000 | 400 |
| Glassboro | 10 | $14.0 million | $597,500 | 428 |
Glassboro had just 10 loans but $14.0 million, led by self-storage, sign makers and building finishers [1]. Gloucester has no Urban Enterprise Zone town on the state's coordinator list [12]. Its 4 Opportunity Zone tracts from 2018 are in Glassboro (2), Deptford Township (1) and Woodbury (1) [7].
Who lends in Gloucester County
| Lender | Loans | Median loan |
|---|---|---|
| TD Bank | 78 | $50,000 |
| Fulton Bank | 19 | $446,000 |
| Northeast Bank | 14 | $92,000 |
| Newtek Bank | 9 | $105,000 |
| Huntington National Bank | 8 | $197,500 |
TD Bank made 78 of the county's 202 SBA 7(a) loans, mostly small ones; Fulton Bank was the bigger-ticket lender [1]. Trenton Business Assistance Corporation handled 9 of the 10 SBA 504 loans, worth $18.7 million at a median of $2,182,000 [1].
Card processing for Gloucester County businesses
Gloucester's storefronts are mostly local services and shops: 884 retailers, 504 restaurants, 251 personal care businesses and 153 auto repair shops in 2023 [2]. Massage, spa and salon franchises borrowed here [1], and a spa service or a brake job is a mid-size ticket where both parts of the fee count.
On a $70 massage, Square's in-person 2.6% + 15¢ [11] is $1.97. If the client taps a debit card from a large bank, that bank's interchange can be no more than 21¢ plus 0.05% of the sale [10], or 24.5¢. Membership studios that bill cards on file should check their keyed-in and online rates too.
Adding a surcharge? Under P.L.2023, c.146, a New Jersey seller cannot charge a credit card surcharge above the actual cost to process the card [9]. Our card processing fees explainer breaks down the pieces, and the fee analyzer checks a real statement.
Free help in Gloucester County
- Gloucester County Department of Economic Development, 1480 Tanyard Road, Suite B, Sewell, 856-384-6930 [5]. Its small business page offers help with business plans and with finding a small business loan, and lists the Cooperative Business Assistance Corporation as a financing partner [6].
- NJSBDC at Rutgers University-Camden serves Gloucester along with Burlington, Camden and Salem [8].
A note on counts: the county says it is home to more than 11,000 businesses, and its small business page counts over 9,700 companies with 20 or fewer employees [5][6]. Census counts 6,298 employer locations, 5,220 of them with under 20 people [2]. The Census figure leaves out businesses with no payroll, which is why the numbers differ.
If SBA timing does not work, a term loan or line of credit can move faster at a higher cost, and contractors should price equipment financing. A merchant cash advance is a purchase of future receivables, not a loan, and usually the costliest. Batch Capital compares them after the quiz.