Best SBA Lenders in Long Island City, NY (2026)
2025 FOIA data: top lenders, rates & industries for Long Island City SBA loans
SBA Loans in Long Island City, New York
Looking for an SBA loan in Long Island City, New York? Based on 2025 FOIA data, 36 SBA 7(a) loans were funded in Long Island City totaling $27.9M, supporting an estimated 466 jobs. With 18 active lenders competing for business in the Long Island City market, comparing offers is essential to getting the best rate and terms.
The average SBA loan in Long Island City is $775K at an average rate of 10.54%. The top lender in Long Island City is Wells Fargo Bank National Association, with the most-funded industry being Mobile Food Services. See all New York SBA lenders for statewide rankings.
SBA Loans in Long Island City by Business Type
Whether you’re starting a new business in Long Island City, buying an existing one, or expanding your current operation, here’s how SBA lending breaks down in your market:
Startups represent 16% of SBA loans in Long Island City (2 loans funded in 2025), which tells you how comfortable local lenders are funding new ventures without established operating history. Business acquisitions account for 18% (1 loans) — if you’re looking to buy a business in Long Island City, this is a proven use case for SBA financing. Existing businesses make up 67% and typically receive the most favorable terms.
Top SBA Lenders in Long Island City, NY (2025 Data)
The table below ranks every SBA 7(a) lender that funded loans to Long Island City businesses in 2025, ordered by total dollar volume. This data comes directly from SBA FOIA records:
| # | Lender | Volume | Loans | Avg Rate |
|---|---|---|---|---|
| 1 | Wells Fargo Bank National Association | $5.0M | 1 | 6.25% |
| 2 | Firstrust Savings Bank | $4.9M | 1 | 9.75% |
| 3 | Newtek Bank, National Association | $4.5M | 6 | 11.08% |
| 4 | ConnectOne Bank | $4.0M | 1 | 9.5% |
| 5 | Royal Business Bank | $1.9M | 1 | 8.5% |
| 6 | KeyBank National Association | $1.6M | 1 | 9.5% |
| 7 | Northeast Bank | $1.6M | 5 | 10.35% |
| 8 | Lendistry SBLC, LLC | $1.2M | 4 | 12% |
| 9 | Cadence Bank | $830K | 2 | 10.5% |
| 10 | Manufacturers and Traders Trust Company | $500K | 1 | 9% |
The top lenders in Long Island City have direct experience with local businesses and understand the Long Island City market — commercial real estate values, local industry dynamics, and regional economic conditions. Pay attention to the “Avg Rate” column, as rates vary significantly between lenders. A 0.5-1.0% rate difference on a $500K loan translates to $15,000-$30,000 in savings over the life of the loan.
Don’t limit your search to banks listed above — many national SBA lenders also fund loans in Long Island City and may offer better rates. An SBA loan broker like GoSBA gives you access to both local and national lenders with one application.
Get Matched with the Best SBA Lender in Long Island City
One 5-minute application. 18+ lenders competing for your deal. GoSBA matches you to the best fit — free, no obligation.
Top Industries Funded in Long Island City
These are the industries that received the most SBA 7(a) funding in Long Island City in 2025. If your business is in one of these sectors, lenders are already familiar with your business model and may offer faster approvals:
| Industry | Loans | Volume |
|---|---|---|
| Mobile Food Services | 1 | $5.0M |
| Photography Studios, Portrait | 1 | $4.9M |
| Limited-Service Restaurants | 2 | $4.3M |
| Caterers | 1 | $4.0M |
| Full-Service Restaurants | 2 | $2.0M |
| Glass Product Manufacturing Made of Purchased Glass | 2 | $800K |
| Residential Remodelers | 2 | $600K |
| Electrical Contractors | 2 | $525K |
| Other Building Finishing Contractors | 1 | $500K |
| Wholesale Trade Agents and Brokers | 1 | $500K |
Lenders with experience funding your specific industry in Long Island City understand the local competitive landscape, typical revenue ranges, and seasonal patterns. This familiarity often translates to faster underwriting and more competitive terms. If your industry doesn’t appear above, SBA loans are available for nearly every legal business type — an SBA broker can match you with lenders who specialize in your sector.
How to Get an SBA Loan in Long Island City
Option 1: Apply directly to one of the top Long Island City lenders listed above. You’ll receive a single quote from one bank.
Option 2: Use an SBA loan broker (recommended). GoSBA Loans submits your application to multiple Long Island City-active lenders and national SBA lenders simultaneously. More offers means better rates, faster approvals, and zero cost to you — lenders pay the broker fee.
Frequently Asked Questions
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Data from SBA 7(a) FOIA records, Calendar Year 2025. Visit sba.gov for official info.
