• Small Business Loan Rates

For businesses that have outgrown our Microenterprise Lending program or need financing over $15,001, LESPFCU offers Small Business Loans up to $49,999 and can include complimentary technical assistance to assist you in planning your business.

Eligible for Small Business Loans are business operated as: sole-proprietorships, partnerships and corporations, and include businesses involved in: retail, service, wholesale, and light manufacturing. Additionally, we offer building loans to owner/occupants of small residential properties, i.e. those that house cooperative apartments.

We offer loans for:

• Fixed Asset Acquisition or Improvement, i.e. machinery, equipment or real estate
• Permanent Working Capital for growing businesses

The following are the initial documents needed to apply for an LESPFCU Small Business Loan:

• Small Business Application Form
• Business Plan Questionnaire or Prepared Business Plan (for new or start-up businesses)
• Business Tax Returns (3 most recent)
• Business Financial Statements (last 3 years) (if available)
• Financial Projections (3 years) (for new or start-up businesses)
• Personal Financial Statement (of all owners of the business)
• Personal Tax Returns (3 most recent) (of all owners of the business)  LESPFCU is a participant in SBA’s 7(a) Guaranteed Loan Program

To apply or to get more information on business loan, contact Alfonsina Morel, HDFC/Business Loan Officer (212) 529-8197 Ext. 15.