Online Loans up to $100,000

The EGF SmartLoan™ offers loans up to $100,000 with a simple online application process and funding in less than 5 days.

We’ve designed the EGF SmartLoan for the small business owner in New York State seeking fast, affordable and transparent financing. The SmartLoan combines affordable interest rates and terms with an easy online application to provide fast business funding.

Our simple online application makes it possible to apply for a loan in minutes, not hours. You’ll receive a decision in less than two days and if approved, receive your funds in fewer than 5 business days. And, our flexible requirements make it possible to get funded even if you’ve been declined by another bank or loan institution.

Eligibility Criteria

If you meet the following requirements, you will be approved for a SmartLoan. We also may approve loans on an exception basis.

  • Two or more years in business
  • Two or more employees
  • Operating at break-even or positive cash flow
  • An average credit score of 640 or above with no open judgements or tax liens
  • More than $120,000 in annual revenue

If you don’t currently meet our online SmartLoan requirements or are looking for a larger loan, please review our ImpactLoan™ up to $500,000.

Program Parameters

  • Amount: $10,000 - $100,000
  • Term: Up to 5 years
  • Interest Rate: Prime + 9.5 (currently 13.5%)
  • Fees: 5% commitment fee (can be financed into the loan)
  • Collateral: blanket lien on business assets (does not need to be in 1st position)
  • Guarantors: personal guaranty of equity owners > 20%

Required Documents: 

  • Most recent two years of business and personal tax returns
  • Copy of driver’s license or other photo ID for all owners
  • Information on existing business debts, if applicable

Who We Lend To:

SmartLoans are a great option for the small business owner seeking financing for almost any industry, including:

  • Restaurants, breweries and caterers
  • Medical and dental offices
  • Manufacturing
  • Retail sales
  • Auto repair and mechanics
  • And many more

Ready to get started? Apply for a small business loan now
Have questions? Give us a call at (212) 785-5642
See how EGF compares. Calculate our APR and compare to others using this calculator