Contractors lead Monmouth's SBA borrowing
Monmouth had 2,031 construction establishments in 2023, second in New Jersey only to Bergen [2]. Those firms turned into SBA borrowers: construction took 95 loans worth $36.0 million, at a median of $160,000 [1].
| Trade | SBA loans |
|---|---|
| Residential remodelers | 19 |
| All other specialty trade contractors | 14 |
| Plumbing, heating and air conditioning | 13 |
| Electrical contractors | 13 |
Worked example: $160,000 for a Monmouth contractor
The SBA caps variable 7(a) loans between $50,001 and $250,000 at the base rate plus 6.0% [3]. Prime stood at 7.00% on Oct 20, 2026 [4], which puts the cap at 13.0%.
Borrow the Monmouth construction median of $160,000 for 10 years at that cap and you pay $2,388.97 a month, or $126,676.62 in interest over the life of the loan. A lower quoted rate cuts both. Guaranty fees and closing costs are extra.
Monmouth gets more SBA 504 money than any other NJ county
SBA 504 loans pay for land, buildings and major equipment at a fixed rate over long terms [3]. Monmouth projects drew 25 of them worth $56.4 million from FY2024 to June 2026, the most 504 dollars of any New Jersey county [1]. Trenton Business Assistance Corporation handled 18, Empire State Certified Development Corporation 5, and Union County Economic Development Corporation 2 [1].
That pull toward real estate also shows in loan sizes. The median Monmouth SBA loan was $225,000, compared with $150,000 in Bergen [1].
Lenders and towns behind Monmouth's 566 loans
| Lender | Loans | Median loan |
|---|---|---|
| TD Bank | 106 | $83,350 |
| M&T Bank | 52 | $62,500 |
| Northeast Bank | 49 | $180,700 |
| Newtek Bank | 33 | $275,000 |
| Huntington National Bank | 24 | $225,000 |
| ReadyCap Lending | 24 | $156,750 |
Freehold borrowers took 61 loans, Red Bank 31, Howell 29, Eatontown 24, and Manalapan and Morganville 23 each [1]. Fitness and recreational sports centers were the most common single business type, with 23 loans [1].
Asbury Park and Long Branch: the UEZ and Opportunity Zone towns
Asbury Park and Long Branch are Monmouth's two Urban Enterprise Zone towns [5]. A business certified in a zone may collect New Jersey sales tax at 3.3125%, the 50% reduced rate, on qualifying sales [6]. For a boardwalk shop or restaurant, that lowers the price a customer pays without touching your margin.
The 2018 Opportunity Zone list gives Monmouth eight tracts: two each in Asbury Park and Long Branch, and one each in Freehold, Neptune City, Neptune Township and Red Bank [7]. Those zones help investors with taxes; they are not a loan program for owners.
Card processing for Monmouth County businesses
Monmouth had 2,518 retailers, 1,664 restaurants and 713 personal care shops in 2023 [2], with retail at 12.7% of all its business locations.
On an $80 boutique sale, Square's in-person 2.6% + 15¢ [12] costs $2.23. A debit card from a large bank carries interchange capped at 21¢ plus 0.05% [11], 25¢ on $80. If summer is your busy season, a half point saved on the percent is worth the most in July and August, when most of your card volume arrives.
New Jersey's P.L.2023, c.146 says any credit card surcharge must stay at or below your actual processing cost [10]. Learn the fee parts in our credit card processing fees guide, then check your summer statement with the fee analyzer.
Where Monmouth owners get free help
- Monmouth County Division of Economic Development (Grow Monmouth): its free Grow Monmouth Toolkit offers location data and help finding incentive programs. Call 732-431-7470 [8].
- NJSBDC at Brookdale Community College, serving Monmouth and Ocean counties: 765 Newman Springs Road, ATEC Building, Room 111, Lincroft, (732) 842-8685 [9].
Not sure an SBA loan is the right tool? Equipment financing is built for trucks and machines, a line of credit covers material costs between draws, and a term loan closes faster than SBA. A merchant cash advance is a purchase of future receivables, not a loan, and is usually the costliest. Batch Capital can compare real offers once you take the quiz.