Business Loans in Westchester and the Hudson Valley
A Beautiful Place for Business
The two regions of the Hudson Valley – the Upper Hudson Valley and Lower Hudson Valley – are distinct in many ways. What they share, in addition to a defining and beautiful geographic feature, the Hudson River, is proximity to more than 23 million people in metro New York and the Capital region. You’ll find many options for small business loans to make your mark in this beautiful region.
The Hudson Valley is also home to highly educated residents who study at and conduct research with State University of New York colleges and universities, including campuses in New Paltz and Purchase, as well as several community colleges. Prestigious liberal arts colleges include Bard, Vassar and Marist. In addition, the region has trade and technical schools offering diverse programs in health care, agriculture and hospitality, including the world-renowned Culinary Institute of America in Poughkeepsie.
Many county and statewide organizations support local business development, too. They include the Hudson Valley Economic Development Corporation, Empire State Development and Hudson Valley Gateway Chamber of Commerce.
And no mention of the Hudson Valley would be complete without mention of its incomparable natural beauty, which forms the basis of the region’s leading industries: tourism and agriculture.
Lower Hudson Valley: Neighbor to New York City
The Lower Hudson Valley includes Westchester and Rockland counties. It’s known for:
- Affluence: Many cities and towns here are “bedroom communities” for New York City professionals who commute via car, rail and bus. Residential real estate is highly desirable and the public school systems are strong. Overall, this area has one of the highest standards of living in the U.S. and there are tremendous opportunities for food-and-beverage, retail and service-based businesses like salons, day spas and fitness studios.
Even historically industrial parts of Rockland and Westchester counties have recently been revitalized as people recognize the inherent character and business opportunities available in smaller cities like Mount Vernon, New Rochelle, Yonkers and Tarrytown.
- Logistics: As part of the greater New York area, the Lower Hudson Valley provides easy access to major trucking routes, including I-287 and I-87, as well as Westchester Airport and rail lines.
- Corporate headquarters for international conglomerates: Many international companies have their corporate headquarters in Rockland and Westchester counties, including IBM, Mastercard, Pepsi and Morgan Stanley. These companies benefit from the area’s proximity to New York and the educated workforce here, and businesses that provide services to them have ample opportunities.
Upper Hudson Valley: Recreation and relaxation
Upper Hudson Valley is comprised of predominantly rural counties that include Orange, Putnam, Dutchess and Ulster, as well as the greater Catskill Mountain region. It’s known for:
- Tourism, which brings in $3.6 billion in annual revenue to the Hudson Valley, with much of it concentrated in the upper region. It’s revered for its natural beauty, with access to thousands of acres of parklands and endless recreational opportunities.
- Weekenders from the New York metropolitan area who stay for a day or a weekend and, often, eventually purchase second homes here. They support specialty retail shops, restaurants (from fine dining to diners) and services that help them relax and revitalize. The Village of Cold Spring is known for its historic landmarks, charming cafés, and hiking. In addition, outlet-store haven Woodbury Commons draws 13 million visitors annually.
- Arts and cultural opportunities thrive here, too. There are many museums and sculpture parks, including Dia:Beacon and Storm King, as well as venues for performing arts, dance and music.
- Agriculture and its related businesses, like wineries, craft breweries, farm-to-table restaurants, farmers’ markets and bed-and-breakfasts, flourish here, attracting visitors from across New York and around the world.
- As commercial real estate costs around the metropolitan New York area skyrocketed during the last decade, Upper Hudson Valley towns and villages have become home to light commerce, specialty manufacturing and warehousing. Convenient access to trucking routes, including I-87 and I-84, as well as Stewart Airport and rail lines make it easier to move goods produced here.
Pursuit funds businesses throughout the Hudson Valley
We offer small business loans in Westchester that support launches, growth and expansions in just about every type of business, everywhere in the Hudson Valley:
- SBA 504 loans fund commercial real estate, including acquisitions, renovations and construction, as well as major equipment purchases. You can also use these loans to refinance existing business-related debt. Among the benefits are:
- Loans up to $5 million
- Owner-equity investments as low as 10%
- Fixed interest rates and repayment terms up to 25 years
- SBA 7(a) loans are ideal for businesses that have higher costs, but also more general needs, including food-and-beverage, retail, hospitality and other service-based businesses. These popular loans are available up to $5 million, with affordable rates and terms.
- Pursuit’s SmartLoans work well for businesses that have lower startup expenses or that need funds to help cover inventory, marketing, small equipment and other common business expenses. SmartLoans are available for $10,000 to $100,000 and after completing the simple online application process, you can get approved in just two business days and have money in your account in less than a week.