Engineers, lawyers and consultants: Morris's biggest SBA borrowers
Professional, scientific and technical services took 59 SBA loans worth $23.9 million on Morris projects, more than construction (54) or repair and personal services (50) [1]. Engineering firms (7), law offices (6), IT service firms (5) and management consultants (4) were the most common [1]. Morris had 2,409 professional services establishments in 2023, fourth in New Jersey [2].
Worked example: $200,000 for a Morris professional firm over 7 years
$200,000 is the median SBA loan to a Morris professional services firm [1]. For loans of $50,001 to $250,000 the SBA cap is the base rate plus 6.0% [3]; prime was 7.00% on Oct 20, 2026 [4], so the cap is 13.0%.
At the cap: $3,638.39 a month and $105,624.98 in interest over 7 years. A quote below the cap lowers both. Lender and SBA guaranty fees are separate.
Firms with uneven billing often pair a term loan with a line of credit so payroll does not wait on clients.
Landscapers and gyms: two Morris trades that borrow often
Landscaping companies and fitness centers each took 20 SBA loans on Morris projects, tied for the most of any single business type [1]. Their sizes differ: the median landscaping loan was $100,000, while gyms borrowed a median of $247,500 [1]. Morris had 742 building and grounds services establishments in 2023, a category that includes landscapers [2].
For mowers, trucks and trailers, equipment financing is often simpler than an SBA loan because the equipment secures the deal.
The Route 80 Business Assistance Grant is closed
The search "Morris County small business grant" mostly points to one program. NJEDA's Route 80 Business Assistance Grant offered $1,000 to $15,000 to businesses with up to 50 employees that lost at least $1,000 in early 2025 from the Route 80 Exit 34 closure, in ZIP codes around Dover, Rockaway and Wharton [5]. NJEDA's page now says the application is closed [5].
Dover and Wharton also hold Morris's four Opportunity Zone tracts from 2018, three in Dover and one in Wharton [6]. Dover borrowers took 22 SBA loans from FY2024 to June 2026 [1].
Who lends in Morris, and which towns borrow most
| Lender | Loans | Median loan |
|---|---|---|
| TD Bank | 98 | $60,000 |
| Northeast Bank | 34 | $191,800 |
| Newtek Bank | 29 | $250,000 |
| JPMorgan Chase Bank | 21 | $180,000 |
| M&T Bank | 20 | $75,000 |
Morristown led with 41 loans worth $21.2 million, at a median of $180,000; there, JPMorgan Chase and Northeast Bank tied for the most loans with 6 each [1]. Randolph (29), Parsippany (27), Dover (22), East Hanover (21) and Boonton (21) followed [1]. In all, Morris had 16,518 establishments and 301,249 employees in 2023 [2].
Card processing for Morris County businesses
Morris County's card-heavy trades include 1,633 retailers, 1,142 restaurants, 484 personal care shops and 126 fitness centers, plus 481 landscaping firms, in 2023 [2]. Gyms and landscapers often bill a monthly amount to a card on file rather than at a counter.
Charge a $160 monthly membership or lawn plan to a saved card and Square's card-on-file rate of 3.5% + 15¢ [11] costs $5.75, against $4.31 at its in-person 2.6% + 15¢ [11]. Ask any processor for both rates. If the customer pays by debit from a large bank, that bank's interchange is held to 21¢ plus 0.05% of the sale [10], 29¢ on $160.
For any credit card surcharge on recurring bills, New Jersey's P.L.2023, c.146 limits it to your actual cost to process the card [9]. Our credit card processing fees guide covers card-not-present pricing, and the fee analyzer checks your statement.
Free help for Morris County owners
- NJSBDC at Fairleigh Dickinson University, Hennessy Hall, Suite C3, 285 Madison Avenue, Madison. It serves Morris, Sussex, Warren and Bergen counties [7].
- Morris County Economic Development Corporation, a division of the Morris County Chamber of Commerce, with market research and resources for growing businesses [8].
If an SBA loan is too slow, a term loan closes faster at a higher cost. A merchant cash advance is a purchase of future receivables, not a loan, and is usually the most expensive. Batch Capital can compare your options once you finish the quiz.