Go Back

New York Business Development Corporation

Specializing in providing small business loans, this lender offers a range of financing options to support business growth and development. With a focus on SBA programs, they assist entrepreneurs in securing the capital needed to expand operations, purchase equipment, or improve cash flow. Their services include SBA 7(a) loans, which are ideal for general business purposes, and they have a proven track record of approving substantial loan amounts, up to $400,000. The institution emphasizes personalized service and flexible lending criteria to meet the unique needs of each client. Located in Latham, NY, they serve a diverse array of industries, with particular strength in the manufacturing sector, and are committed to fostering economic development in the region. Whether you’re a startup or an established business, they aim to provide accessible funding solutions tailored to your goals.

Review

There are no reviews yet.

Lender Type

Commercial Bank

Google Rating

4.4

Google Review Count

Question 1

What is this place and what can I find here?

Answer 1

This is a small business lender specializing in SBA-backed loans, offering financing options to help entrepreneurs grow and expand their businesses. You can find information about loan programs, application procedures, and support services tailored to small and medium-sized enterprises.

Question 2

Do I need an appointment or can I walk in?

Answer 2

It"s recommended to schedule an appointment to ensure personalized service, but walk-ins are also accepted during business hours. Contact the office in advance for the best experience.

Question 3

What are the hours of operation?

Answer 3

The office operates from 9:00 AM to 5:00 PM, Monday through Friday. Appointments outside these hours can be arranged upon request.

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 financing option chosen.

Question 5

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

Answer 5

This lender primarily serves small businesses within the region, especially those in manufacturing, with a focus on supporting local economic development.

Question 6

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

Answer 6

A minimum personal credit score of 620 is generally required for loan approval, though other factors are also considered.

Question 7

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

Answer 7

The underwriting process typically takes between 30 to 45 days, depending on the completeness of the application and supporting documents.

New York Business Development Corporation

Description

Location

Review

Q&A