New York State
Below you can access information about federal, state, and city resources in regards to coronavirus (COVID-19).
New York State Coronavirus Resources

U.S. Small Business Administration Website

The SBA is a federal agency that offers two key longer-term financing programs that enable new or expanding small businesses to secure permanent working capital and purchase equipment and/or real estate.

SBA 7(a) Loan Program:

  • Participating lenders receive a guarantee that the SBA will repay up to 85% of the loan if the business borrower defaults on payments

  • Loans of up to $5 million and terms of 25 years for real estate, 10 years for equipment, and 7 years for working capital

  • Eligible uses: working capital, inventory, machinery, real estate purchases, and refinancing debt

  • Guarantee fee ranging from 2% to 3.75%, the cost of which can be included in the loan amount

SBA 504 Loan Program:

  • Borrower requirements of only 10% equity contribution - loans are administered through a partnership between an SBA-approved lender that covers 50% of the project cost and a community development corporation that funds up to 40%

  • Loans of up to $5 million and terms of 20 or 25 years

  • Eligible uses: fixed asset purchases like real estate or equipment


Pace University SBDC

163 William Street, Room 328

New York, NY, 10038   


Office:  (212) 618-6655


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A, C, J, Z, 2, 3, 45 to Fulton St

E to World Trade Center
6 to Brooklyn Bridge


Partnership Program with the SBA, administered by the State University of New York. Funded in part through a Cooperative Agreement with the U.S. Small Business Administration.  All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. All SBA funded programs are extended to the public on a nondiscriminatory basis.

© 2021 Pace Small Business Development Center. All rights reserved.