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BCNA is a Community Advantage lender, providing SBA-guaranteed small business loans ranging from $75,000 to $250,000 to small businesses in Queens and Staten Island, and to specifically immigrant, refugee or women-owned businesses in Brooklyn, the Bronx, and Manhattan.

Please contact us to find out if our affordable, small business loans are right for you.

Loan Requirements and Costs


Loan Requirements

BCNA & SBA want to see that your business is well-run, you have the ability to pay back the loan, and that loan proceeds will be used constructively to grow your business.

In addition to the application form, you will be asked to complete other SBA forms, provide copies of records & supporting materials. The following is a list of documents that typically accompany a SBA application package:

  • Personal background and financial statements
  • Business financial statements, including profit & loss & financial projections
  • Ownerships and affiliations
  • Business certificate/license
  • Loan application history
  • Income tax returns
  • Resumes of principals
  • Business overview & history, including why loan is needed & how it will help the business
  • Business lease

All personal and business assets, and personal guarantees, are needed as collateral to secure the loan, however, not having enough collateral does not necessarily mean that your loan will not be approved.


Interest Rates and Fees

  • Interest Rate: Prime plus 3.25%
  • Term: Up to 10 years with no prepayment penalties
  • Loan Application Fee: $50
  • Packaging Fee: 2% of loan amount; fee payable upon submission of completed loan application & is non-refundable
  • SBA Guarantee Fee: If loan application is approved, a one-time fee will be charged based on a percentage of the guaranteed portion of the loan:
    • Up to $150,000 Loan:
      SBA Guarantee: 85%; Guarantee Fee: 1.5%
    • $150,001 – $250,000 Loan:
      SBA Guarantee: 75%; Guarantee Fee: 3.0%
  • Other Expenses: Depending on the nature of the project or use of funds, other expenses may include credit reports, business valuations, commercial property appraisals & environmental assessments; attorney closing costs can range from $1,500 to $3,500

To learn more about the loan process, review eligibility requirements, and learn  if the Community Advantage loan is right for you and your business, please contact:

Ervin Gega
212-401-6229

Our Loan Staff

Leonid Ostrovsky
Director of Lending
lostrovsky@nybcna.org

212 898 4130
Speaks Russian

Ervin Gega
Supervising Senior Loan Officer
egega@nybcna.org
212 401 6229
Speaks Albanian and Italian

Maria Paulino
Senior Loan Officer
mpaulino@nybcna.org
212 898 4110
Speaks Spanish

Vish Dasma
Senior Loan Officer
vdasma@nybcna.org

347 808 7827
Speaks Hindi and Kannada

Juan González
Senior Loan Officer
jgonzalez@nybcna.org
Manhattan (M-W) 212 898 4167
Queens (Th-F) 347 649 1488
Speaks Spanish

My loan officer walked me through the loan process from start to finish. I would recommend them to anyone looking for a loan. I look forward to continuing to work with them.Yelena Godiyevskaya, Smiles R’ Us Day Care

What a BCNA Loan Could Cost You

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