New York Business Loans
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Business Loans for New York Companies
When people think of New York’s economy they think of the Morgan Stanley’s and JP Morgan’s of the world. The financial services industry does play a sizeable role in the New York economy, however, New York’s economy is balanced on a lot more than just Wall Street. Small and medium sized businesses are still the heartbeat of New York State.
Medical Business Loans in New York
The healthcare, professional and technical services, retail trade, and manufacturing industries are all large factors in the state’s economy. New York is a major manufacturing state with a wide variety of manufacturing businesses. The state manufactures everything from electronics to medical equipment, construction equipment, and consumer products. Within the manufacturing industry there is a lot of expenses incurred. Manufactures use small business loans in New York to cover overhead and unexpected expenses. From long payment terms to inventory requirements, businesses use financing programs to manage their working capital. Business loans help business owners with both stability and growth.
Technology Loans New York
New York State also has a thriving technological sector. The technology industry is known for long payment terms which puts strain on business operating cashflow. Businesses in the technology sector use small business loans in New York to finance new technology equipment and software. A lot of time and money is also invested into the healthcare industry. With over 20 million people in the state the demand for health care services is substantial.
The industries in New York are surprisingly diverse. Because of New York City many people discount how big of a role farming and agriculture play in the economy of New York. With New York being the top producer of fruits and vegetables in the eastern part of the country. SMB Compass provides business loans in New York to the wide array of different industries.
SMB Compass has loan programs in New York from $25,000 up to $100 million. SMB compass specializes throughout New York in equipment financing, SBA loans, asset-based lending, bridge loans, invoice factoring, and business lines of credit. Schedule a call with a Lending Advisor today to learn more about the business loan options in New York.
Small Business Loans in New York
Here are the many ways to use a small business loan in New York
Acquire a business
Refinance existing loans and credit card debt
Purchase or refinance commercial real estate
Buy or lease machinery and equipment
Purchase inventory and raw materials
Marketing and advertising campaigns
Upgrade technology and business software
Renovate existing office space
Day to day operating expenses
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