Secure Business Loans in Rochester NY Get Your Business Moving
GRB is a leading SBA lender in the Rochester region. The mission of GRB and the SBA are very well aligned. Like GRB, the SBA wants to help local businesses grow and prosper. Together, we accomplish this goal by making low-interest loans available to new and growing businesses in the Rochester region.
In a normal year, GRB helps new and established businesses secure SBA funding for growth. But 2020 was anything but normal. Stepping up, GRB assisted more than 575 businesses in our local community with their Paycheck Protection Program (PPP) loans. As the COVID pandemic rocked our nation, GRB helped local businesses stay in business.
Nearly 35% of GRB’s PPP recipients were were new-to-GRB customers. They needed help and GRB answered the call. GRB continues to work with these businesses to submit their paperwork for loan forgiveness and ensure that these employers — businesses our community depends on — not just survive, but thrive.
Small Business Loans New York, Start Up & Micro Loans Nyc
SBA loans can be a great tool to help support business growth. Your GRB Commercial Banking representative will work closely with you to understand your business goals. Working together, we can help you make the right financial decisions for your business.
The U.S. Small Business Administration provides a number of loans, grant and funding programs to small businesses. The SBA has microloan programs for financing up to $50, 000 and works with designated financial institutions, like GRB, to access larger funding amounts. An SBA loan is partially guaranteed by the government, which helps to eliminate some of the risk for the financial institution issuing the loan. The SBA also offers funding for disaster assistance. This was fundamental in keeping small businesses operating during the pandemic through Paycheck Protection Program (PPP) loans.
The SBA provides a number of good resources for building your business plan and determining the type of funding you may need. But when it is time to apply for a loan, you will be working with an SBA lender like GRB to guide you through the application and approval process.
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The SBA requires banks to underwrite loans as if there was no government backing. So GRB uses the same collateral requirements on an SBA loan as they would any other small business loan. GRB will work with you to ensure that you are comfortable with any collateral arrangement for your government small business loan.
There are many factors that determine how long the SBA process takes. It is dependent on meeting the SBA requirements and providing all the necessary documentation. But as a SBA Delegated Lender, GRB has the ability to process and close SBA loans in the most efficient manner possible.
Yes, the SBA does make special programs and resources available to women, veterans, minority, Native American, and rural business owners to help level the playing field. These resources can include special funding opportunities, education and development resources, mentoring programs, partnerships with other government departments, and more. In addition, the SBA provides a certification program for these businesses that can help open doors to new opportunities.Pursuit is a small business lender that works with Rochester area entrepreneurs to find a loan solution that works specifically for your business.
Rochester, New York: The City Kodak Built
Is it the mix of urban sophistication, hometown friendliness and intellectual achievement that makes Rochester one of Upstate New York’s most attractive cities? Or its supportive business environment – one that’s fostered several of the world’s most influential companies and well-known brands, such as Eastman Kodak , Xerox Corp. and Bausch & Lomb and contemporary powerhouses, like beverage giant Constellation Brands and upscale grocer Wegmans Food Markets ? Rochester’s all this and more — as a starting ground for big business names, there are many options for business loans in Rochester to fund your ambition.
It’s home to best-in-class public schools and higher-education superstars, like Rochester Institute of Technology and University of Rochester , that have placed it among the top metropolitan regions for patents-issued-per-million and earned the leading rank for optics research.
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And when Rochester’s entrepreneurs aren’t spending their time discovering new ways of helping people look at and enjoy our world, they know that the region’s plentiful amenities – outdoor sports and recreation, world-class museums and proximity to several Great Lakes and Finger Lakes – make it an outstanding place to live.
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The city’s past and present Fortune 500® companies tell where its particular industry strengths are found – engineering, optics, education and health care – while up-and-coming focus areas also include:
True to its roots, Rochester’s redevelopment also includes several business and technology parks; municipal, county and statewide business incentives; entrepreneurial programs and incubators, including Startup NY and NextCorps ; and multiple collaborations between the area’s outstanding technical, trade and post-secondary schools and businesses for research and development, production and patent work.
In addition to industries that are thriving, several neighborhoods in Rochester are undergoing redevelopment and offer great opportunities and incentives. They include:
Lpo Announces A Conditional Commitment For Loan To Li Cycle's U.s. Battery Resource Recovery Facility To Recover Critical Electric Vehicle Battery Materials
From craft breweries to specialty machining, Pursuit has the funding you need to support your Rochester-based business. Among our most popular small business loans and loans for startups in Rochester are:
“For me, [the 504] made all the difference. If I didn’t have this option, I couldn’t have moved forward on this location. It’s that simple.”
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