Only available in New York.
The Upper Manhattan Business Loan Program offers business loans up to $50,000 with interest rates starting at a reduced rate of 4.99%. These loans can be used for things like working capital, vehicle purchases, inventory, equipment, marketing, expansion, and business or franchise purchase.
The features of this loan include:
- Interest rates: 4.99% – 9.99%
- Loan terms up to 60 months
- No pre-payment penalty
- $135 processing fee; 4-5% closing costs
- Credit score of 575 or higher.
- Business located in the following zip codes: 10025, 10026, 10027, 10029, 10030, 10031, 10032, 10033, 10034, 10035, 10037, 10039, 10040, 10128
- Sufficient cash flow to support monthly loan payments.
- Other criteria may apply
This program is sponsored by the Upper Manhattan Empowerment Zone.
Use PIN 116 when applying to receive reduced interest rate.