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Brooklyn Small Business Loans: SBA Lenders, Rates and Local Help (2026)
By Solomon Wiesen, editor. Updated October 2026. Editorial standards | How this site is funded
Who actually lends to Brooklyn businesses, how much they lend and at what rate, based on every SBA 7(a) loan approved in Brooklyn from October 2019 to June 2026, plus the free local programs that help you apply.
- 2,930 SBA 7(a) loans worth $1,098.1M went to Brooklyn businesses (Oct 2019 to Jun 2026), 39% of the NYC total.
- Median loan: $150k at 11.25%.
- Top lender: TD Bank, with 867 loans (30%).
- Most-funded industry: retail stores and online sellers (627 loans).
SBA loans in Brooklyn by the numbers
From October 2019 through June 2026, the SBA guaranteed 2,930 7(a) loans to businesses in Brooklyn, worth $1,098.1 million: 39% of all SBA 7(a) loans in New York City. That works out to 10.7 loans for every 10,000 residents. The median loan was $150k at a median interest rate of 11.25%, and 120 different lenders made at least one loan here. 1,489 of the loans, 51%, were approved from 2023 on.
Top SBA 7(a) lenders in Brooklyn, by number of loans
Loans to Brooklyn businesses since October 2019, with each lender’s median loan size and median interest rate.
TD Bank made 30% of all SBA 7(a) loans in Brooklyn, far more than any other lender, and most of them are small: its median Brooklyn loan was $78k. Banks that specialize in SBA lending, such as Readycap, Newtek and BayFirst, make fewer but larger loans, and often approve businesses the big branch banks decline.
| Lender | Loans since Oct 2019 | Since 2023 | Median loan | Median rate |
|---|---|---|---|---|
| TD Bank | 867 | 397 | $78k | 11.50% |
| M&T Bank | 283 | 55 | $100k | 11.25% |
| JPMorgan Chase | 281 | 137 | $152k | 12.95% |
| Readycap Lending | 179 | 156 | $500k | 11.25% |
| BayFirst National Bank | 169 | 111 | $150k | 13.25% |
What it would cost you
Use the calculator to estimate the monthly payment on an SBA 7(a) loan. It starts at the Brooklyn median loan and rate.
SBA 7(a) loan payment calculator
Starts at the Brooklyn median: $150k at 11.25%. Change any field.
SBA 7(a) loans approved in Brooklyn, by federal fiscal year
Fiscal years run October to September. FY2026 covers October 2025 to June 2026 only (9 months).
Which Brooklyn businesses get SBA loans
Which Brooklyn industries get SBA loans
Top industries by number of SBA 7(a) loans since October 2019, with the median loan and rate for each.
Loan sizes in Brooklyn skew small: 59% of loans were $150,000 or less, and 701 were $50,000 or less. The breakdown by size:
- $50,000 or less: 701 loans
- $50,001 to $150,000: 1,029 loans
- $150,001 to $350,000: 616 loans
- $350,001 to $1 million: 334 loans
- Over $1 million: 250 loans
To see which lenders are most active for your industry and loan size in Brooklyn, use the NYC SBA lender finder.
Local help for Brooklyn businesses
Brooklyn has about 62,317 business establishments employing 745,880 people (Census County Business Patterns, 2023), and 91.7% of them have fewer than 20 employees. These free or nonprofit resources are the first stop before a bank:
- NYC Business Solutions Center: 9 Bond St, 5th Floor, Brooklyn 11201 (Downtown Brooklyn). Free help with financing applications, hiring and permits from NYC Small Business Services. Call 311.
- Chamber: Brooklyn Chamber of Commerce, 253 36th St, Building 3, 4th Floor (Industry City), (718) 875-1000.
- BOC Network: 85 South Oxford St, Fort Greene; (718) 624-9115. Nonprofit lender and business advisor; see our BOC Capital loans guide.
- Brooklyn Cooperative Federal Credit Union: 1474 Myrtle Ave, Bushwick. A community credit union that makes small business loans.
- Bridge Street Development Corporation: 460 Nostrand Ave, Bedford-Stuyvesant; (718) 399-0146. Technical assistance and help applying for loans and grants.
- Business improvement districts: Brooklyn has 23 BIDs (NYC SBS, FY2025). If your storefront is inside one, ask it about free marketing, storefront and sanitation programs.
Grants: Ignite Brooklyn (Brooklyn Made) awards ten $25,000 grants a year; the 2026 deadline was February 2. For every program open now, see NYC small business grants 2026.
If the SBA says no
SBA lenders usually want two years in business, a credit score in the high 600s and tax returns that show the business can carry the payment. If you are not there yet, nonprofit lenders above often lend $5,000 to $150,000 with more flexible rules. Be careful with merchant cash advances: a typical factor rate of 1.30 repaid over six months works out to an annual cost above 100%. Read how New York treats merchant cash advances before you sign one.
Other boroughs: Bronx, Manhattan, Queens, Staten Island. Compare all five on SBA loans by borough.
Where to go next
Frequently asked questions
Which bank makes the most SBA loans in Brooklyn?
TD Bank made 867 of the 2,930 SBA 7(a) loans to Brooklyn businesses from October 2019 to June 2026, followed by M&T Bank (283) and JPMorgan Chase (281).
What is the average SBA loan in Brooklyn?
The median SBA 7(a) loan in Brooklyn was $150k and the average was $375,000. The median interest rate was 11.25%.
What is the maximum SBA 7(a) interest rate in 2026?
With the prime rate at 7.00% (October 2026), variable-rate caps are 13.50% for loans of $50,000 or less, 13.00% up to $250,000, 11.50% up to $350,000 and 10.00% above $350,000.
Where can I get free help applying for a business loan in Brooklyn?
The NYC Business Solutions Center at 9 Bond St, 5th Floor, Brooklyn 11201 (Downtown Brooklyn) offers free financing help (call 311), and nonprofit lenders such as BOC Network advise and lend to local businesses.
Can I get a small business grant in Brooklyn?
Grants are small and competitive. Ignite Brooklyn (Brooklyn Made) awards ten $25,000 grants a year; the 2026 deadline was February 2. Check our list of NYC small business grants for programs open now.
Want to see what you may qualify for? Send one short request and a funding partner will contact you about options. This is a request for information, not an application, and approval is never guaranteed. We may be paid when you submit a request; see how this site is funded.
General information, not legal or financial advice. Lender terms change; confirm them with the lender before you apply.