New Millennium Bank Small Business Administration Loan(SBA) Program

We are helping small businesses grow and succeed.

SBA programs are designed to assist small businesses in obtaining loan approvals and leverage private capital for use in startup costs, working capital, business procurement, franchise fees, equipment, inventory, or the purchase of owner‐occupied commercial real estate. The program provides a lender with the necessary security, in the form of a partial guarantee, for the lender to approve a loan or line-of-credit. Our reputation for creativity, speed, accuracy, and service is what sets us apart from other lenders.

Contact us today and get approved! (201) 585-6090

SBA Loan Programs

SBA Loan Programs

What is the SBA?
The U.S. Small Business Administration (SBA) is an independent agency of the Executive branch of the Federal Government. Its responsibility is to provide four primary areas of assistance to American small business - one of which is small business lending. The SBA sets the guidelines for lending, while SBA partners offer financing to small businesses.
SBA Financing
When your small business needs financing, consider an SBA loan or line of credit. SBA financing offers distinct advantages designed to assist small businesses in accessing the capital they need to grow. Benefits of SBA financing versus conventional financing options include:
  • Up to 25 year terms, with no balloon payments
  • Fixed or variable interest rates up to 25 years
  • As little as 10% down payment on commercial real estate
  • Loan closing costs may be financed
Who qualifies for SBA?
The SBA has specific criteria for businesses to qualify for SBA financing:
  • The business must operate for-profit
  • The business must operate in the United States or its possessions
  • The business must show that the loan can be repaid from existing or projected cash flow.

Loan Types

Our New Millennium Bank SBA loan team members are ready to help you with a lending solution that is tailored just for you.

SBA 504 Certified Development Company Loan Program

Long-term, fixed-rate financing for a fixed asset. SBA 504 loans are the flexible way to finance a long-term building or equipment acquisition project of $500,000 to $10 million. Businesses can often buy property with a lower down payment and repay the loan over terms as long as 25 years.
For more information on 504 loans, click here.

SBA 7(a) Loan Guaranty Program

The most widely used SBA loan.

SBA 7(a) loans are often used for working capital, business expansion or acquisition, and purchase of inventory, equipment, or owner-occupied real estate. We offer loan amounts of $50,000 up to $5 million. Eligibility requirements and credit criteria are very flexible, allowing nearly all small businesses to qualify. Primary considerations are the business’s ability to repay the loan from cash flow and the owner's good credit rating.
For more information on 7(a) loans, click here.

Small Loan Program

The Small Loan Advantage Program is a sub-program of the SBA 7(a) Loan Guaranty Program, offering smaller loan sizes up to $350,000. Other benefits of the program include faster turnaround, less loan documentation needed, and fewer third party reports required.
Get Started Now

Grow your business with an affordable, easy business loan

If you’re planning to start a business or expand an existing business, you might need financing help. SBA participates in a number of loan programs designed for business owners who may have trouble qualifying for a traditional bank loan
Get Started Now

Our Branches

  • Headquarter
  • Fort Lee, NJ 07024
  • (201) 585-6090
  • New Brunswick
  • NJ 08901
  • (732) 729-1100
  • Fort Lee
  • NJ 07024
  • (201) 944-1110
  • Bayside
  • NY 11361
  • (347) 836-4914
  • Manhattan
  • NY 10001
  • (212) 239-1023
  • Duluth
  • GA 30096 (LPO)
  • (770) 291-2198

Contact Us

Our Corporate Office & Corp. Branch Open

Monday - Friday
9:00am - 5:00pm

Saturday
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Sunday
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Our Branch Open

Monday - Friday
8:30am - 5:00pm

Saturday
9:00am - 1:00pm

Sunday
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