Business that have:

• Existing operations in NY State
• 100 or fewer employees or less
• $5m in gross annual revenue
• Been in business for at least 1 year prior to application
• Demonstrated ability to repay loan through projected cash flow

No specific collateral is required. However, the lender will take a lien against a borrower’s business assets, as well as additional collateral if the lender believes it is commercially reasonable to do so. The personal guarantee of each owner of 20% or more of the small business applicant is required at the close of each loan. No personal guarantees will be required for nonprofits.

36-72 months, no repayment penalties, no origination fees, fixed interest for the life of the loan.

Equipment, payroll, utilities and rent supplies, marketing, building renovations other expenses.

• Is your business profitable (if not, can you show how a loan will help to turn that around)? Or, is your business a start-up with strong projections?
• Do you pay yourself a salary? If you do not, does your business generate enough cash and profits to pay you a livable salary?
• Are you current on all personal and business taxes?
• Can you comfortably pay any existing business debt or other loans?

No specific collateral is required. However, the lender will take a lien against a borrower’s business assets, as well as additional collateral if the lender believes it is commercially reasonable to do so. The personal guarantee of each owner of 20% or more of the small business applicant is required at the close of each loan. No personal guarantees will be required for nonprofits.

Your interest rate and repayment term will be customized for your business. Your lender will discuss these factors with you as part of the loan application process. Grow America offers 5% interest rate and loan terms of 5 years, which results in affordable monthly payments for borrowers.

Our loan programs are flexible and can provide funding for nearly any business need—from hiring employees and purchasing equipment to acquiring real estate.

• Is your business profitable (if not, can you show how a loan will help to turn that around)? Or, is your business a start-up with strong projections?
• Do you pay yourself a salary? If you do not, does your business generate enough cash and profits to pay you a livable salary?
• Are you current on all personal and business taxes?
• Can you comfortably pay any existing business debt or other loans?

No specific collateral is required. However, the lender will take a lien against a borrower’s business assets, as well as additional collateral if the lender believes it is commercially reasonable to do so. The personal guarantee of each owner of 20% or more of the small business applicant is required at the close of each loan. No personal guarantees will be required for nonprofits.

Your interest rate and repayment term will be customized for your business. Your lender will discuss these factors with you as part of the loan application process. Grow America offers highly competitive interest rates and loan terms of up to 25 years, which results in affordable monthly payments for borrowers.

Our loan programs are flexible and can provide funding for nearly any business need—from hiring employees and purchasing equipment to acquiring real estate.