Small Business Lending

  • Who can apply for this?

    Any for profit business owner (and authorized signer) who has a primary banking relationship with Amalgamated Bank or wishes to have one can apply for a small business loan.

  • What financial products are available?

    Amalgamated Bank provides small business owners with access to secured financing options from $25,000 to $250,000 with a Term Loan or a Line of Credit.

  • What do I need to apply?

    A primary business banking relationship with Amalgamated Bank is required; if your business does not have an account with us already, we will open one for you upon approval of your loan. You will also need a government issued personal identification for all owners in the application, the business certificate or articles of formation, the business operating agreement and financial statements, and 2 years of business and tax returns for all owners in the application. Lastly, a personal guarantee is also required.

  • Do I need to provide financial statements with my application?

    Yes, financial statements will be requested to complete the application: 2 years of business tax returns and personal financial statements.

  • What are the fees charged with the term loan or line of credit?

    There is an origination fee for both term loan and line of credit; this fee is a percentage that depends on the loan amount.

  • When will I receive my loan proceeds if approved?

    You will receive the loan proceeds once the loan application is approved and an Amalgamated Bank checking account is available to disburse the funds.

  • Can I access financing for my business more than one time?

    Yes, if your business is still approved for credit, you can apply for more loans any time.