States Served
Top Industries Financed
- Coin-Operated Laundries and Drycleaners
- Full-Service Restaurants
- Architectural Services
- Commercial Screen Printing
- Other Personal and Household Goods Repair and Maintenance
Quick Summary
Business Initiative Corporation of New York is an SBA-approved lender headquartered in Bronx, New York. They are an SBA Preferred Lender, meaning they can approve loans without prior SBA review. Since 2020, they have approved 6 SBA 7(a) loans totaling $1.1M, with an average loan size of $188K. They primarily serve New York businesses.
About Business Initiative Corporation of New York
Business Initiative Corporation of New York is an SBA-approved lender headquartered in Bronx, New York. Since 2020, they have approved 6 SBA 7(a) loans totaling $1.1M, with an average loan size of $188K. As an SBA Preferred Lender, they have delegated authority to approve SBA loans without prior SBA review, resulting in faster processing times. They primarily serve businesses in New York.
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Frequently Asked Questions
Is Business Initiative Corporation of New York an SBA Preferred Lender?
Yes, Business Initiative Corporation of New York is an SBA Preferred Lender (PLP). This means they have delegated authority from the SBA to approve loans without prior SBA review, resulting in faster approvals — typically 7–10 business days instead of 4–6 weeks.
How many SBA loans has Business Initiative Corporation of New York approved?
According to SBA FOIA public records, Business Initiative Corporation of New York has approved 6 SBA 7(a) loans totaling $1.1M since 2020. Their average loan size is $188K.
What states does Business Initiative Corporation of New York serve?
Business Initiative Corporation of New York primarily serves businesses in New York.
How do I apply for an SBA loan with Business Initiative Corporation of New York?
To apply for an SBA 7(a) loan with Business Initiative Corporation of New York, contact them directly through the form on this page. Before applying, check your FICO SBSS score (the SBA's pre-screening score) and have your financial statements, business plan, and tax returns ready. Most SBA lenders require 2+ years in business, $100K+ annual revenue, and a personal credit score of 640+.
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