Yonkers is the fourth most populous city in the U.S. state of New York, behind New York City, Buffalo, and Rochester. The population of Yonkers was 195,976 as enumerated in the 2010 United States Census and is estimated to have increased by 2.5% to 201,116 in 2016. Yonkers is located in southern Westchester County, New York, bordering the New York City borough of The Bronx. It shares a land border with the village of Scarsdale to the north and the town of Eastchester to the northeast. Yonkers has two major shopping malls: the Cross County Shopping Center and the Galleria at Crystal Run.

Yonkers's economy is based on a diverse range of businesses, including retail trade, manufacturing, construction, transportation, and healthcare. The city's largest employers are Yonkers Public Schools, Montefiore Medical Center, and St. John's Riverside Hospital. The city's manufacturing sector is focused on the production of food, chemicals, and machinery. Yonkers is also home to a number of small businesses, many of which are located in the city's downtown area.

The city of Yonkers is committed to supporting small businesses and has a number of programs and resources in place to help them succeed. The city's Small Business Development Center provides counseling, training, and technical assistance to small businesses. The city also offers a number of loans and grants to help small businesses start up and grow.

Comparing SBA Loan Types in Yonkers

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When it comes to small business loans, the SBA 7(a), SBA 504, and SBA Express programs are some of the best options available. Boasting favorable terms and low rates, these financing vehicles can provide up to $5 million for your business plans.

SBA 7(a) Loans specifically connects small business owners with lenders across the country who are prepared to offer the very best terms to support their businesses. If you're looking to buy commercial real estate or equipment, or if you need access to repair capital, SBA 7(a) loans should definitely be one of your top options.

Our experienced team will provide you with the very best terms from our network of lenders to ensure your business has what it needs to succeed. We offer this service completely free of charge.

Looking for more information about Yonkers? Read on below. Otherwise, click the button below, and we'll get right back to you with your free SBA 7(a) loan quote.

Small Business Loans Available in Yonkers

There are several options for small business loans in Yonkers. The Small Business Administration (SBA) offers several loan programs, including the 7a, 504, and Express programs, that can be used for a variety of purposes, such as working capital, equipment, and real estate. SBA loans are backed by the government and usually have lower interest rates and longer repayment terms than other types of loans.

1. SBA 7(a) Loans

The SBA 7(a) loan program is the Small Business Administration's most popular loan program. It can be used for a variety of different purposes, from working capital to equipment and even real estate. An SBA 7(a) loan's interest rate is generally lower than interest rates on conventional loans. Loan terms are also longer than most conventional loans, which keeps monthly debt service costs low. SBA 7(a) loans are capped at $5 million.

2. SBA 504 Loans

The SBA 504 program is aimed at businesses looking to acquire heavy equipment or fixed assets or for purchasing or developing real estate. Loan terms are typically up to 10 years for equipment purchases and 25 years for real estate, and interest rates are generally lower than most conventional financing options.

3. SBA Express Loans

SBA's Express Loan program are designed for speed: While loans max out at $500,000, the application turnaround time is just a few days. This convenience does not come for free, with interest rates generally higher — and repayment schedules typically shorter — than other SBA loan types, which increases the cost of debt service.

If you are interested in applying for a small business loan in Yonkers, we’ll match you with the best lender: Click here for a free quote.

Getting the Right Insurance for Your Property

If you own the property you operate out of, you'll need adequate insurance in place as part of the SBA financing process. Unfortunately, the cost of property insurance has shot up in recent years — and not just in the disaster-prone areas that may immediately come to mind.

Janover Insurance Group is happy to provide you with a free, zero-obligation quote on insuring the commercial real estate your business owns and occupies. Simply click here to get started.