Scale Your Hudson Valley Small Business
As your partner first and lender second, we guide you along your entrepreneurial journey. If we can’t offer you the solution you need, we have a network that does.
Counting on Community
“I knew I could count on Community Capital New York to have my back. It’s so important to have a community of people you can count on right now.”
— Latrecee Miller, Founder of Miller’s Touch Cleaning Services
Latreece Miller shares how he scaled his cleaning company and sustained his entrepreneurial dreams.
Our Small Business Lending Program
Starting your business was a dream come true. Now, it’s time to focus on growing your company so you can reach your long-term goals. Do you want to build a legacy for your family? Ensure financial stability or prosperity?
Whatever the future looks like for you, access to capital shouldn’t stand in your way.
We do our best to keep the lending process accessible so you can focus on what matters most—growing your business.
Contact a Community Capital NY Loan Officer to learn how we can work together.
Microloans
Are you looking for a loan to start a business or need a loan for your existing business to grow? An SBA Microloan is for you! You can use the loan for start-up costs, working capital, to hire employees, purchase equipment, and more.
Up to $75,000
Up to five years with a fixed interest rate
Acceptable credit history
Small Business Loan
If you’re ready to leave your start-up days behind, our SBA-guaranteed Community Advantage Loan can help. This loan is designed to help start-ups or existing businesses to the next level.
Up to $150,000
Up to 10 years with an interest rate up to Prime + 6%
Schedule C/tax return required
Acceptable credit history
10% owner equity injection
Additional legal and packaging fees apply
Fast Track Loan
Our Fast Track Loan is for entrepreneurs who have been in business for at least two years and need money for their businesses. This loan offers a quick application and approval process once all required materials are received.
Up to $10,000
Additional Small Business Loans
We offer other loan products to support small business owners. For more information, contact a loan officer on our Contact Page.
Small Business Loan FAQs
The qualifications you’ll need to apply for a small business loan are as follows:
- At least 21 years old
- Legally residing in the US and authorized to work or conduct a trade or business
- Business is based within the counties of Duchess, Orange, Putnam, Rockland, Sullivan, Ulster, Westchester, the Bronx, or Fairfield, CT
- Acceptable credit history
- No more than $1,000 in unresolved liens, judgments, collection amounts, or charge-offs
- No bankruptcy in the last 24 months
- Current on all obligations for the previous six months
We lend to businesses of various types, including start-ups and small businesses. For example, we lend to daycares, restaurants, cleaning businesses, pest control businesses, clothing stores, and even product development companies. So if you are a business operating in the Hudson Valley, we may have a loan for you.
Note: We do not gas stations, home oil delivery services, real estate investments, lenders, private clubs, or the adult entertainment industry.
Examples of acceptable uses of your loan funds are as follows:
- Inventory
- Equipment purchases
- Leasehold improvements
- Licensing and permits
- Energy savings upgrades
- Marketing
- Working capital
- Business debt refinancing
Yes. There is a $100 application fee. Other loan fees and costs include an interest rate based on loan type and a closing fee, typically 2% of the total of your loan. An additional fee may apply depending on the loan type. Our team will walk you through the application fees, so you know what to expect.
This process typically takes 4-6 weeks. We will be in touch with you throughout the application process to inform you of your status.
Yes! We would be more than happy to restart the application process. Just give us a call at 914-747-8020 to speak with a member of our team.
Some examples of documentation include your business plan and personal tax returns. However, documentation varies depending on your loan. First, take our eligibility quiz to determine your eligibility. Next, talk to a loan officer by calling 914-747-8020 to understand the documentation needed to apply for your specific loan.
Creating Access to Capital
Most of our small business clients have experienced difficulty accessing capital from conventional banks due to lower credit scores, less time in business, and a lack of collateral.
At Community Capital New York, we believe everyone is created equal, but not everyone benefits from current financial systems equally. So we want to do our part in ensuring everyone has access to capital. We supply the funding your business needs for working capital or expansion through products like our Microloans or Small Business Loan.
Not Sure Which Loan Is Right for You?
We are your partner first, lender second. From starting your business to scaling up, we’re here to support you every step of the way. If you’re unsure which small business loan option is right for you, call us at 914-747-8020. If you’re ready to apply, you can apply online today.
