SBA 7(a) Loans in Long Island, NY
Find lenders offering sba 7(a) loans in the Long Island, including Hempstead, Huntington, Islip, and surrounding areas. Compare rates, terms, and programs from 104 lenders.
Which SBA 7(a) lenders serve Long Island?
104 lenders offering sba 7(a) loans in the Long Island, NY area.
Port 51 Lending LLC
Local SBANew York, NY
Non-bank SBA preferred lender specializing in high-value SBA 7(a) loans for commercial real estate and business acquisitions. Focuses on larger SBA transactions with an average deal size well above industry norms.
Manufacturers and Traders Trust Company
Local SBABUFFALO, NY
M&T Bank is a major regional bank and one of the top SBA lenders by loan count in the Northeast. Offers SBA 7(a), Express, and 504 loans alongside a full range of commercial banking, commercial real estate, and small business products.
Grasshopper Bank National Association
Local SBANew York, NY
New York-based digital business bank offering SBA 7(a) and 504 loans, commercial lending, and innovative banking solutions. Combines fintech convenience with traditional banking for small business owners and startups.
Woori America Bank
Local SBANew York, NY
New York-based bank serving Korean-American and Asian-American business communities with SBA 7(a) loans, commercial real estate, and trade finance. A subsidiary of Woori Financial Group.
Ready Capital
LocalNew York, NY
Nationwide commercial lender offering bridge, permanent, and SBA loans. Specializes in small to mid-balance CRE loans ($1M-$35M).
Spring Bank
Local SBANEW YORK CITY, NY
Flushing Bank
Local SBAUniondale, NY
Shinhan Bank America
Local SBANew York, NY
NBT Bank, National Association
Local SBANORWICH, NY
NewBank
Local SBAFlushing, NY
Dime Community Bank
Local SBAHauppauge, NY
Tompkins Community Bank
Local SBAITHACA, NY
Five Star Bank
Local SBAWARSAW, NY
ESL FCU
Local SBAROCHESTER, NY
Community Capital New York, Inc.
Local SBAElmsford, NY
What does the Long Island commercial real estate market look like?
Long Island's CRE market spans Nassau and Suffolk Counties, serving a suburban population of nearly 2.9 million with distinct commercial corridors along the Long Island Expressway (I-495), the Northern State Parkway, and Route 110 in Melville. The Route 110 corridor in Melville-Huntington is the island's premier office submarket, housing tenants in financial services, insurance, and technology, though the market has seen increasing vacancy as firms consolidate space. Industrial demand has strengthened significantly, with last-mile distribution facilities in high demand across both counties to serve the dense consumer base. The redevelopment of the Nassau Hub area around the former Nassau Coliseum site in Uniondale represents one of the largest mixed-use opportunities in the New York metro area.
Key Economic Drivers
- ●Route 110 corridor office cluster in Melville serving financial services, insurance, and technology tenants
- ●Last-mile logistics demand driven by e-commerce serving Long Island's 2.9 million suburban consumers
- ●Northwell Health, Long Island's largest private employer, generating medical office and ambulatory care facility demand
- ●Nassau Hub redevelopment at the former Coliseum site creating a potential mixed-use destination
Market Insight
Long Island's Industrial Development Agencies (IDAs) in both Nassau and Suffolk Counties offer PILOT agreements that can reduce property tax burdens by 50% or more for qualifying commercial projects, making them a critical underwriting consideration for CRE investors on the island.
How do sba 7(a) loans work in Long Island, New York?
SBA 7(a) loans are the most common SBA loan program, offering up to $5 million for working capital, equipment, real estate, business acquisition, and refinancing. Backed by the U.S. Small Business Administration, they offer competitive rates and longer terms than conventional business loans. In the Long Island metro area, borrowers can access 104 lenders offering SBA 7(a) financing, including Hempstead, Huntington, Islip, and surrounding areas. Loan amounts typically range from $25K to $5M with rates from Prime + 1.5% to 3.75%.
Who should consider sba 7(a) loans?
- Small business owners
- Business acquisitions
- Working capital needs
- Commercial real estate purchase
What are the key requirements?
- For-profit business operating in the US
- Owner has invested equity
- Exhausted other financing options
- No delinquent government debt
- Credit score: 680+
Advantages
- ✓Low down payment (as low as 10%)
- ✓Competitive interest rates
- ✓Long repayment terms
- ✓Can be used for many purposes
Considerations
- •Lengthy application process
- •Extensive documentation required
- •Personal guarantee required
- •Collateral often needed
SBA 7(a) Loans in Long Island FAQ
How many SBA 7(a) lenders serve Long Island, NY? ▼
What are SBA 7(a) loan rates in Long Island? ▼
How long does an SBA 7(a) loan take to close? ▼
Can I use an SBA 7(a) for real estate? ▼
What's the difference between SBA 7(a) and 504? ▼
Where else can I find sba 7(a) loans in New York?
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