Like everything else in New York, getting a small business loan is a dime a dozen, and there seems to be a business lender around every corner hawking a small business loan.
So how do you decide who is selling the high-pressure, high-risk, high-interest-rate loans on Canal Street versus the top online lender with a track record that offers a low-interest rate loan program with the best terms?
As entrepreneurs, sole proprietors, and business owners, you need small business funding that improves cash flow or covers business expenses. You need a business funding option that reflects your gross revenue and not just your credit score.
New York City, look no further than Sunwise Capital. We provide a sensible, straightforward approach to New York small business financing to help you make informed decisions.
We offer NYC business solutions loan products from the SBA loan, merchant cash advance, and business line to equipment financing, with a flexible loan payment and easy application process.
Rest assured, entrepreneurs and small business owners get financing options that are not available from the traditional financial institution or credit union.
We are a business online lender in the United States, and we offer highly competitive rates and terms. We provide financial assistance when you, the business owner, need it.
Need access to financing in a hurry? Everyone knows New Yorkers are in a rush. Right?
It would help if you moved fast to survive in the city. We get it, and that’s why we offer same-day funding to New York business owners, for those emergencies. Just let us know. If the amount is $50,000 or less, chances are we can do it with a competitive rate loan.
Get up to $500,000 within two business days. Business owners can get up to $2M without business plans.
Key Components of our New York loan programs. We offer a wide range of funding options for NYC-based businesses, including:
What small business owner has time for a salesman?
At Sunwise Capital, we get right to the bottom line, and our no-hassle approach gets you straight to the underwriter.
There is no hype or drama and no BS-just the facts and figures.
We’re committed to competitive interest rates with affordable business loans for all New York businesses.
Business Cash Advance – A business loan for Working Capital Needs
The money will help you pay bills, buy inventory, cover payroll, etc.
Merchant Cash Advances are loans that allow businesses to purchase inventory or make other purchases. Merchants typically use them to meet immediate liquidity needs.
We are a direct lender, and our goal is to provide 100% satisfaction.
This financing option is the perfect solution if you have an asset you want to use as collateral for a loan. The equipment loan allows you to finance the purchase of new or used equipment, and an Equipment Finance Program provides working capital to fund the purchase of new equipment.
The U.S. Small Business Administration (SBA) is a federal agency created during World War II to assist American small businesses to grow and thrive. Today, the SBA helps small businesses get started, expand, create jobs, increase exports and support military service members transitioning back into civilian life.
The SBA offers several types of loans designed specifically for small businesses. These include 7(a), 504, SBIC, and Microloan programs. Each program has different eligibility requirements and repayment terms.
SBA loans are through banks, credit unions, and private lenders. We work with direct SBA lenders.
Short Term Business Loans
These are short-term loans where the borrower does have collateral to secure the debt. Short term loans are when cash flow is tight, and there is not enough time to apply for longer term loans.
Long Term Business Loans
These are long-term loans where the borrower has some form of collateral to secure the debt, such as real estate, inventory, accounts receivable, or machinery.
Long term loans are usually applied for after a company has been operating for at least one year because they need more time to build their credit history.
Lines of Credit
A line of credit is a revolving account that can be accessed on-demand. It is ideal if your business requires large amounts of cash but only needs it occasionally.
A line of credit, or LOC allows you to borrow funds based on how much you draw down each month, and you must repay all outstanding balances before any additional funds become available.
This finance choice allows you to receive payment from customers before receiving invoices. Invoice financing is excellent for companies that sell products or services directly to businesses-for example, manufacturers who perform work for retailers and have outstanding invoices.
Bad Credit Business Loans
Too many owners think that having bad credit means that they cannot qualify for any loan. However, this is not true. Many options are available to those with poor credit, and bad credit does not mean that you cannot qualify for a loan.
Women business owners face unique challenges when trying to access traditional bank funding. Women-owned businesses are less likely than men-owned businesses to have good credit ratings.
Female owners also tend to have lower incomes and higher levels of personal debt. In addition, women entrepreneurs may lack the experience and expertise to navigate the complex world of financial institutions.
Sunwise Capital is a women-owned business, and we specialize in helping women-owned businesses obtain funding and access to credit. Our clients typically are bankable (however, many have less than stellar credit scores) and limited track records with traditional lenders.
Startup Small Business Loans in NYC
Whether you are looking for a start-up business loan with bad credit or the best options for startups on SBA loans, we can help you.
Based on our years of experience and our ability to get you funded means more money to you. On top of that our returning customers get more money at better rates and better terms.
Our goal is to be a lifetime business resource for your growth and expansion.
We understand that poverty, unemployment, and underemployment disproportionately impact the black community. Black-owned businesses cannot compete with more prominent companies due to a lack of capital.
This challenge makes them more vulnerable to economic downturns.
Black business owners often find themselves struggling to obtain financing from traditional sources. Many banks will not lend to minority-owned businesses due to discrimination laws. Even though these laws were put into place to protect minorities from being discriminated against, they make it harder for black-owned or brow businesses to succeed.
Black-Owned Small Business Impact Fund
The Black Owned Small Business Impact Fund works to provide small businesses owned by African Americans with access to capital. The fund provides equity investments up to $1 million in qualifying small businesses.
NYC Capital Access Loan Guarantee Program
This program offers guaranteed loans to small businesses located in low income neighborhoods throughout NYC. These loans originate through the City’s Economic Development Corporation.
The NYC Capital Access Loan Guaranty Program loans are made possible by leveraging private sector funds.
Business Grant Assistance Programs
These programs offer grants to small businesses and assist them in their efforts to grow and expand. Some of the grant assistance programs include:
Sunwise Capital provides small business loans to over 700 industries and local businesses in all 50 states. Our business financing solutions range from doctors and dentists to auto repair and mechanics.
Our average business client is seven years old with a million dollars in annual revenue.
Eligible businesses do anywhere between $15,000 a month in revenue to $15M a year. To secure a small business loan, you must:
We have loans for people with bad credit to term loans that will make the banking industry and their traditional business loans blush with rates starting at 5.49% for terms up to 5 years. Many of our loans do not require a traditional personal guarantee nor require collateral.
We offer affordable business funding, which means a long-term relationship with a lender that is all business.
We don’t have to tell you that getting a small business started is challenging enough, do you agree? Securing the working capital to fund that business doesn’t have to be that difficult.
We offer a streamed-line approach to getting you the money you need with our custom business lending programs.
Once we receive your one-page application and three months of business bank statements, we can have you approved in 24 hours or less and funded either the same day or next.
Our returning customers get more money with better terms and rates. Give us a call and find out for yourself.
Or call 888-456-9223