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Small Business Loans in New Haven: Options, Rates, Requirements

A quick look at New Haven itself and the financing options available to small businesses.

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New Haven Small Businesses

New Haven is a city located in the state of Connecticut in the United States. As of the 2010 census, the city had a total population of 129,779. The city is situated on New Haven Harbor on the northern shore of Long Island Sound in New Haven County, Connecticut. It is the second-largest city in Connecticut after Bridgeport. New Haven is a major cultural center in the state of Connecticut. The city is home to the Yale University Art Gallery, the Yale Repertory Theatre, and the Yale Center for British Art. New Haven is also the birthplace of the American pizza chain, Pizza Hut. The economy of New Haven is largely driven by the education and healthcare sectors. Yale University is the city's largest employer, with over 11,000 employees. The Yale-New Haven Hospital is the city's second largest employer, with over 6,000 employees. Other major employers in the city include the United States Postal Service, the City of New Haven, and Southern Connecticut State University. Small businesses are a vital part of the New Haven economy, accounting for over half of the city's businesses. The most popular industries for small businesses in New Haven are retail trade, health care, and professional, scientific, and technical services. New Haven has a strong commitment to supporting small businesses and entrepreneurs. The city offers a number of resources and programs to help small businesses start and grow, including the Small Business Assistance Program, the Business Resource Center, and the Business Incentives Program.

Our Expertise

SBA 7(a) Loans connects small business owners in New Haven with lenders across the country who are prepared to offer the very best terms to support their businesses.

If you are planning to buy commercial real estate or equipment, or if you need access to repair capital, SBA 7(a) loans 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.

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, both in New Haven.

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

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Small Business Loans in New Haven

There are many options for small business loans in New Haven. The Small Business Administration (SBA) offers several loan programs that can be used for a variety of purposes, including working capital, equipment, and real estate. SBA loans are backed by the government, so they typically have lower interest rates and longer repayment terms than other types of loans.

Compare current SBA Loan Rates for New Haven

Loan TypeInterest RateRepayment TermLoan Amount
SBA 7(a)10.57% - 12.56%7 - 25 years$5,000 - $5 million
SBA 5048.32% ± 1%10 - 20 years$125,000 - $20 million
SBA Express12.82% - 14.82%7 - 25 years$25,000 - $350,000
Based on current Prime Rate, 8%. Last updated Mar 24, 2023
We remove the barriers between borrowers and the right financing.
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Match with the right product
Get multiple quotes
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Apply for a loan in minutes and get multiple quotes today
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Get an SBA 7(a) Loan in New Haven

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.

Get an SBA 504 Loan in New Haven

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 20 years for real estate, and interest rates are generally lower than most conventional financing options. SBA 504 loans cap at $5 million, though small manufacturers may receive up to $5.5 million through this program.

Get an SBA Express Loan in New Haven

SBA’s Express Loan program are designed for speed: While loans max out at $350,000, the application turnaround time is just 36 hours. 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 New Haven, we’ll match you with the best lender: click here

Getting a small business loan should be easy.⁠ Now it is.

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