NY, NJ, & CT Businesses Still Having Trouble Obtaining Business Loans

Last Updated on June 4, 2013

According to the 2013 Small Business Borrower’s Poll, businesses in New York, New Jersey, and Connecticut still face difficulties in obtaining business loans. 63% of businesses were approved for financing, however, that number is the same as the year before. 

Applications for loans under $100,000 were more difficult to get approved resulting in just slightly more than half of the businesses getting the financing they needed. Loans of these amounts are in greater demand and typically used for working capital. Businesses seeking larger loan amounts, who have successfully borrowed in the past, had the easiest time getting approved.

While there is talk about an improving economy, small businesses continue to be at the rear of the pack. Small business is a lifeline to our communities and it is essential that we help keep them open and profitable.

National Business Capital has helped countless small business owners obtain the financing they need to keep operations running. Please call and speak with one of our business consultants to learn about our available programs. National Business Capital is proud to be a leading small business lender!

National Business Capital & Services is the #1 FinTech marketplace offering small business loans and services. Harnessing the power of smart technology and even smarter people, we’ve streamlined the approval process to secure over $1 billion in financing for small business owners to date.

Our expert Business Financing Advisors work within our 75+ Lender Marketplace in real time to give you easy access to the best low-interest SBA loans, short and long-term loans and business lines of credit, as well as a full suite of revenue-driving business services.

We strengthen local communities one small business loan at a time. For every deal we fund, we donate 10 meals to Feeding America!

About the Author, Megan Capobianco

Megan is passionate about helping business owners along their journey - providing them with relevant content they can use in their day-to-day operations.

Disclaimer: The information and insights in this article are provided for informational purposes only, and do not constitute financial, legal, tax, business or personal advise from National Business Capital & Services and the author. Do no rely on this information as advice and please consult with your financial advisor, accountant and/or attorney before making any decisions. If you rely solely in this information it is at your own risk. The information is true and accurate to the best of our knowledge, but there maybe errors, omissions, or mistakes.