Magyar Bank
NJ
SBA-approved lender offering 7 loan programs across 8 industries.
Key Metrics
Interest Rate
9.45%
2.70% over prime
Average Loan
$1.3M
Per approval
Total Approvals
16
FY 2025
Loan Programs (7)
Existing or more than 2 years old
Loan Funds will Open Business
New Business or 2 years or less
Preferred Lenders Program
Startup
Change of Ownership
Fixed Rates
Industries Served (8)
All Other Miscellaneous Food ManufacturingAll Other Specialty Trade ContractorsAll Other Transit and Ground Passenger TransportationHotels (except Casino Hotels) and MotelsInsurance Agencies and BrokeragesLandscaping ServicesOther Personal and Household Goods Repair and MaintenancePlumbing, Heating, and Air-Conditioning Contractors
Additional Details
- Prime Rate
- 6.75%
- Rate Over Prime
- 2.70%
- Effective Rate
- 9.45%
- Fiscal Year
- 2025
- States Served
- NJ
- Website
- www.magbank.com
Ready to apply with Magyar Bank?
Let Cassian help you prepare your application and connect you with the right loan officer.