Business Loans in New York

New York's economy is the third-largest in the nation and one of the most diverse globally. New York City is the financial capital of the world, home to Wall Street, the Federal Reserve Bank of New York, and headquarters for major banks, insurance companies, and investment firms. The city's tech sector — "Silicon Alley" — has grown to rival the Bay Area in many categories, with particular strength in fintech, media tech, and enterprise software. Beyond NYC, New York's economy includes significant agriculture in the Hudson Valley and western regions, a growing wine and craft beverage industry in the Finger Lakes, major university research corridors around Albany and Ithaca, and revitalizing manufacturing in Buffalo and Rochester. The state is home to over 2.3 million small businesses — the third most in the nation — employing 4.1 million workers. New York's business costs vary enormously: Manhattan is among the most expensive markets in the world, while upstate communities offer very competitive costs. Empire State Development (ESD) offers extensive programs including the Excelsior Jobs Program, Regional Economic Development Councils, and START-UP NY which eliminates taxes for businesses affiliated with universities. The New York Business Development Corporation and numerous CDFIs like the Upper Manhattan Empowerment Zone and Pursuit Lending serve diverse communities across the state.