Business Loans in Binghamton, NY and the Southern Tier Region
Produce here, go everywhere
The Greater Binghamton and Southern Tier region is great for small businesses: It’s a central point in the state, between New York City and its 23 million+ residents and Buffalo, the second-largest city in New York State, as well as 8+ million people in Southern Ontario. It’s also close to Albany, Syracuse and Rochester. And don’t forget its proximity to all of New England, Pennsylvania and the East Coast. You’ll also find that there are many options for small business loans in Binghamton and the greater region to help your business grow.
The region also offers an educated and skilled workforce, with several State University of New York campuses throughout, including Binghamton University, as well as world-renowned Cornell University. Ithaca College and Elmira College are among many excellent liberal arts colleges here as well.
And while it’s a great place for your small business, these affordable and beautiful locations are also ideal places to live. There’s an emerging arts and cultural scene that has grown substantially in recent years and festivals and concerts attract thousands of people from nearby and beyond, helping the region’s restaurants, bars and breweries to flourish. Former retail storefronts are finding new life as galleries, and co-working spaces are popping up in former factories.
Among its rolling hills and gorges with lush foliage, small lakes and several rivers, as the region’s economic development continues, plans are implemented in ways that ensure long-term sustainability to protect natural resources.
The Southern Tier region has a rich history of manufacturing, with IBM and Endicott Johnson among the corporations that established its economic legacy.
Today, that legacy continues, with industry highlights that include:
- Manufacturing, particularly advanced manufacturing and industries that benefit from the region’s geographic location and easy proximity to New York City, Buffalo and Southern Ontario, Pennsylvania and the Northeast U.S. Several large industrial parks, including the Broome Industrial Park in Kirkwood and Industrial Park Boulevard in Elmira.
- The proximity to major highways – including Route 81 running north to south, Route 88 running east to west and the NYS Thruway – have made it a natural hub for distribution and logistics.
- The Southern Tier is ideally situated for agriculture and research partnerships with higher-education programs are helping farmers optimize production through advanced agricultural techniques while incorporating environmental sustainability.
- Health care is a major employment sector, with opportunities in all areas, from individualized coaching and small-group practices to larger, comprehensive facilities that cater to specific needs, such as assisted-living homes, rehabilitation facilities and nursing homes.
Pursuit helps businesses in Binghamton and the Southern Tier
Whether your small business is locally focused or produces goods for shipment across the country and around the world, Pursuit has small business loans in Binghamton that can meet your needs.
Among our most popular loan products are:
- The Pursuit SmartLoan: With a quick, online application, approvals in just two business days and loans ranging from $10,000 to $100,000, this is great for businesses that have lower overall funding needs or want immediate funding.
- The SBA 7(a): If you need general funding with a higher loan maximum to launch, grow or expand your business, this is the loan for you. With loans up to $5 million and a great range of eligible uses, such as inventory, this is the most popular SBA loan.
- The SBA 504: We’ve helped manufacturers, hospitality businesses, breweries, restaurants, medical professionals and more to get the financing needed to purchase, renovate or build commercial real estate. The SBA 504 offers below-market, fixed interest rates on loans up to $5 million, payment terms up to 25 years and owner equity as low as 10%.