Somerset Regal Bank
BOUND BROOK, NJ 8805
⭐ SBA Preferred LenderStates Served
Top Industries Financed
- Full-Service Restaurants
- Offices of Dentists
- Limited-Service Restaurants
- Beer, Wine, and Liquor Stores
- Child Day Care Services
Quick Summary
Somerset Regal Bank is an SBA-approved lender headquartered in BOUND BROOK, New Jersey. They are an SBA Preferred Lender, meaning they can approve loans without prior SBA review. Since 2020, they have approved 16 SBA 7(a) loans totaling $9.9M, with an average loan size of $617K. They primarily serve New Jersey businesses.
About Somerset Regal Bank
Somerset Regal Bank is an SBA-approved lender headquartered in BOUND BROOK, New Jersey. Since 2020, they have approved 16 SBA 7(a) loans totaling $9.9M, with an average loan size of $617K. As an SBA Preferred Lender, they have delegated authority to approve SBA loans without prior SBA review, resulting in faster processing times. They primarily serve businesses in New Jersey.
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Frequently Asked Questions
Is Somerset Regal Bank an SBA Preferred Lender?
Yes, Somerset Regal Bank is an SBA Preferred Lender (PLP). This means they have delegated authority from the SBA to approve loans without prior SBA review, resulting in faster approvals — typically 7–10 business days instead of 4–6 weeks.
How many SBA loans has Somerset Regal Bank approved?
According to SBA FOIA public records, Somerset Regal Bank has approved 16 SBA 7(a) loans totaling $9.9M since 2020. Their average loan size is $617K.
What states does Somerset Regal Bank serve?
Somerset Regal Bank primarily serves businesses in New Jersey.
How do I apply for an SBA loan with Somerset Regal Bank?
To apply for an SBA 7(a) loan with Somerset Regal Bank, contact them directly through the form on this page. Before applying, check your FICO SBSS score (the SBA's pre-screening score) and have your financial statements, business plan, and tax returns ready. Most SBA lenders require 2+ years in business, $100K+ annual revenue, and a personal credit score of 640+.
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