Queens 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 Queens businesses, how much they lend and at what rate, based on every SBA 7(a) loan approved in Queens from October 2019 to June 2026, plus the free local programs that help you apply.

SBA loans in Queens by the numbers

From October 2019 through June 2026, the SBA guaranteed 1,669 7(a) loans to businesses in Queens, worth $666.1 million: 22% of all SBA 7(a) loans in New York City. That works out to 6.9 loans for every 10,000 residents. The median loan was $115k at a median interest rate of 11.00%, and 106 different lenders made at least one loan here. 866 of the loans, 52%, were approved from 2023 on.

TD Bank made 32% of all SBA 7(a) loans in Queens, far more than any other lender, and most of them are small: its median Queens loan was $35k. 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.

What it would cost you

Use the calculator to estimate the monthly payment on an SBA 7(a) loan. It starts at the Queens median loan and rate.

Which Queens businesses get SBA loans

Loan sizes in Queens skew small: 61% of loans were $150,000 or less, and 514 were $50,000 or less. The breakdown by size:

• $50,000 or less: 514 loans
• $50,001 to $150,000: 499 loans
• $150,001 to $350,000: 301 loans
• $350,001 to $1 million: 178 loans
• Over $1 million: 177 loans

To see which lenders are most active for your industry and loan size in Queens, use the NYC SBA lender finder.

Local help for Queens businesses

Queens has about 51,188 business establishments employing 616,045 people (Census County Business Patterns, 2023), and 91.8% of them have fewer than 20 employees. These free or nonprofit resources are the first stop before a bank:

• NYC Business Solutions Center: 90-27 Sutphin Blvd, 4th Floor, Jamaica 11435. Free help with financing applications, hiring and permits from NYC Small Business Services. Call 311.
• Chamber: Queens Chamber of Commerce, Bulova Building, 75-20 Astoria Blvd, Suite 140, East Elmhurst; (718) 898-8500.
• Queens Economic Development Corporation (QEDC): 120-55 Queens Blvd, Suite 309, Kew Gardens; (718) 263-0546. Business counseling, the Queens Tech + Innovation Challenge and small flash grants.
• Renaissance Economic Development Corporation: Queens offices at 133-29 41st Ave, Flushing and 37-61 84th St, Jackson Heights. Nonprofit microlender; see our Renaissance loans guide.
• Ascendus: Citywide nonprofit lender; see our Ascendus loans guide.
• Business improvement districts: Queens has 11 BIDs (NYC SBS, FY2025). If your storefront is inside one, ask it about free marketing, storefront and sanitation programs.

Grants: QEDC runs the Queens Tech + Innovation Challenge (up to $20,000 each for five winners) and periodic $1,000 flash grants. 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, Brooklyn, Manhattan, Staten Island. Compare all five on SBA loans by borough.

Where to go next

General information, not legal or financial advice. Lender terms change; confirm them with the lender before you apply.