The state of New York has a diversified economy that is steadily climbing out of the recession. Unemployment has fallen to its lowest level since 2008, and the state has reported 17 consecutive months of gain in private-sector jobs, now totaling more than 7.5 million. New York’s total population is 19.5 million.
At BFS Capital, we provide business loans for customers all over New York State including:
- The Bronx
- Staten Island
- Long Island
New York Industry Breakdown
Beyond the bright lights of New York City, New York state comprises varied cities and towns as well as rolling countryside. A key industry is agriculture. Livestock products account for roughly two-thirds of agricultural income, with milk and other dairy products leading the way. New York is also a leading fruit and vegetable producer, including apples, tart cherries, and pumpkins along with cabbage, cucumbers, and tomatoes. Did you know that the state is also big in greenhouse products, especially flowers?
There’s also manufacturing, from pharmaceuticals to machinery to computer chips and a wide variety of chemical products, and mining, from stone to silver to garnets and zinc. Service industries also flourish here, and New York City is the key driver in finance, insurance, and real estate. The city is also a mecca for media, entertainment, restaurants, advertising, fashion, and tourism. The tech sector in New York City is booming, adding 25,000 jobs between 2009 and 2013, at a growth rate of 33 percent. And where there’s tech, there are also innovation, entrepreneurs, and startups.
But thriving small businesses aren’t limited to the tech sector. New York ranks third in the U.S. in the value of exports by small businesses, more than $79 billion. With Canada as the top customer, small business exports grew nearly 35 percent from 2009 to 2012. Of the more than a million minority- and women-owned businesses in New York, many are small businesses.
Small businesses, in fact, make up 99 percent of all New York businesses. Even in the midst of the recession, firms with fewer than four employees actually created more jobs than larger businesses lost! There are well more than 2 million small businesses in New York, operating in every region, community, and neighborhood throughout the state. New York is simply a great place for small business.
Small Business Loans in New York
Small business owners here aren’t without their challenges, including a lack of access to the capital they need. That’s why at BFS Capital, we have stepped in as an important source of business funding. Qualified businesses can get small business loans or business cash advances for up to $1 million and in a way that’s designed to benefit them. We’re sure that customers will be satisfied with our business loans. New York business owners will be happy to learn that with our loans:
- The application and approval process is fast and easy
- Funding is available as little as two business days following approval
- Our flexible repayment plans are structured to accommodate variations in business models and cash flow
- Bad credit doesn’t automatically mean you won’t qualify!
- You have the freedom to use funds toward any business expense
When applying for our small business loans, New York residents will be happy to learn that our funding solutions can be used for anything from marketing to disaster prep to expanding inventory. With rising sales and revenue, it may also be time to replace equipment, expand, or take on new employees. Financing can make it all a reality along with meeting unexpected expenses.
Apply Today for New York Small Business Loans
With New York small business loans from BFS Capital, business owners can move boldly into the future with the capital they need. Don’t miss out on opportunities for growth! For small business loans, New York residents should contact us online or by phone ASAP. You can speak with a funding adviser and find out how much your business qualifies for. We hope to hear from you!