Automatic weekly payments, deducted from your bank account
* The rate for the BXL is equal to the annual cost of the loan including the origination fee, expressed as a percentage.
Working Capital Loan
Access up to $250,000 in funding
6 to 17 months duration
Factor rates as low as 1.15. (Factor = Payback Amount ÷ Funded Amount)
Automatic daily payments, deducted from your bank account
Number of Businesses: 155,169
Number of Small Business Advances: 31,081
Yearly Small Business Revenue: $366,422,937
Two-Year Survival Rate: 75%
From Manhattan to Queens and everywhere in between, New York has long been considered a land of opportunity for anyone looking to make their own way in America. The sheer size of the city means there’s plenty of room for small businesses of any type, and the staggering number of people means there’s plenty of chances to find the perfect employees – and customers.
New York is home to 155,169 unique small businesses
Out of those, 31,081 took out small business loans
The yearly total small business revenue in New York is $366,422,937 (as of 2007)
Roughly 25% of New York small businesses will close within two years of opening
Doing business anywhere costs a hefty amount of capital, and New York is no exception. With over 155,000 businesses already calling the Big Apple home, the competition for space and funding is fierce – and with more than 31,000 businesses receiving small business loans in 2010, it’s clear you’ll need a strong source of small business financing to stay ahead in business. If you need a New York small business loan and don’t want to bother with the lengthy bank process, Credibly is just the funding solution you need. Our quick approval process and flexible terms offer much more opportunity than more traditional funding methods, and the money can be used for anything your business needs, from day-to-day operations to equipment costs, and any other opportunities you may encounter along the way.
Credibly in New York
No matter what sort of business you run in New York, there’s plenty of opportunity for you to grow, expand, and thrive. If you need a little extra working capital to seize these opportunities – or if you just need a quick New York small business financing option to get through daily activities – Credibly has the fast and flexible small business financing you need. Pre-qualify today to find the perfect small business loan for you.
The Credibly Business Index
The Credibly Business Index is a scoring system that ranks how sustainable a region is for small businesses. We consider several factors, such as number of businesses in the city, overall business revenue, and two-year business survival rates as reported by the U.S. Small Business Administration.
The Credibly Business Index score given to New York is 84 out of a possible 100. This score is generated from data derived from the U.S. Small Business Administration and the United States Census Bureau as of June, 2015, and is subject to change. This Business Loan and Revenue Index is intended for informational purposes only, and may not be applicable to, or predictive of, your particular circumstances.