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NewBank

NewBank offers comprehensive SBA lending solutions tailored to meet the needs of small businesses seeking growth capital. With a focus on the SBA 7(a) program, they provide flexible financing options for various business purposes, including working capital, equipment purchase, and real estate acquisition. Their experienced team is dedicated to guiding clients through the loan process, ensuring clarity and support at every step. As a commercial bank located in Flushing, NY, NewBank leverages local market knowledge to assist businesses in the region and beyond. They support loans up to $5,000,000, making them a strong partner for both emerging startups and established enterprises. Their commitment to small business success is reflected in their personalized service and extensive industry expertise, particularly in sectors like hospitality, retail, and healthcare. Whether you’re looking for a quick loan or a long-term financing plan, NewBank is equipped to help you achieve your business goals with tailored solutions and attentive service.

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Lender Type

Commercial Bank

Google Rating

4.2

Google Review Count

Question 1

What is this place and what can I find here?

Answer 1

This is a financial institution offering SBA loan programs and small business financing solutions, where you can find assistance with loans, guidance on application processes, and personalized support for your business needs.

Question 2

Do I need an appointment or can I walk in?

Answer 2

It is recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-in consultations may be available during business hours depending on availability.

Question 3

What are the hours of operation?

Answer 3

The bank operates from 9:00 AM to 5:00 PM, Monday through Friday, with special hours by appointment on weekends or holidays.

Question 4

Is there a fee to use this?

Answer 4

There are no fees for initial consultations; however, loan processing and application fees may apply depending on the specific financing product.

Question 5

Who is this open to — anyone, or only residents/members?

Answer 5

This bank primarily serves small business owners and entrepreneurs within the region, but eligibility for loans is based on creditworthiness and business criteria rather than residency alone.

Question 6

What minimum personal credit score does this bank look for in a guarantor?

Answer 6

A minimum personal credit score of 640 is generally recommended, though higher scores can improve the likelihood of approval.

Question 7

How long does the traditional underwriting process take from start to close?

Answer 7

The underwriting process typically takes between 30 to 60 days, depending on the complexity of the loan and completeness of the application.

NewBank

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