The rate depends on where an employee works. Here is what the 2026 numbers are and how to turn them into a cash plan.
Apply Now →According to a New York State announcement reminding employers of the January 1 increase, the state minimum wage for 2026 is:
| Where the employee works | Hourly minimum from January 1, 2026 |
|---|---|
| New York City, Long Island and Westchester | $17.00 |
| Rest of the state | $16.00 |
The same announcement says the rate is indexed to inflation beginning in 2027. The rate that applies depends on where the employee works, not where the business is registered, so a company with sites in two regions may run two minimums. Confirm the current figures and any exceptions for your workers with the Department of Labor, because this page covers only the headline rates.
The wage is only the start of labor cost. Employers also carry payroll taxes and workers' compensation, and often other costs tied to wages. A quick way to plan: take your hours, multiply by the wage, then add a loaded percentage for the extras that you get from your accountant. Below is a purely illustrative example.
| Illustration only | Value |
|---|---|
| Crew of 10 at the $17.00 minimum, 30 hours each per week | $5,100 in base wages per week |
| Same crew at $16.00 | $4,800 in base wages per week |
| Difference per week, before taxes and other extras | $300 |
The extra is modest per week and meaningful per year, and it lands in the same cash cycle as every other cost.
Wages go out weekly or biweekly. Customers may pay in 30 or 60 days. Any increase in the wage bill increases the amount you carry between those dates.
A busy week with extra hours costs more at a higher base rate, which matters most when revenue comes after the work.
When the floor rises, owners often adjust pay for more experienced staff to keep differences meaningful. That is a real cost even though no law requires it.
We fund $25,000 to $5,000,000, in as little as 24 hours. We consider FICO 500 and above, ask for about three months of business bank statements, require no tax returns, use a soft credit pull and take about five minutes to apply. Sole proprietors can apply, including owners with a small crew. Statements that show regular payroll outflows make it easier to size a request correctly.
$17.00 an hour in New York City, Long Island and Westchester, and $16.00 an hour in the rest of the state, effective January 1, 2026.
The rate depends on where the employee works. Confirm with the Department of Labor for any exceptions.
The state announcement says the minimum wage is indexed to inflation beginning in 2027.
Yes, covering payroll while waiting on customer payments is a common use.
No tax returns are required. We ask for about three months of business bank statements.
Three months of business bank statements and a 5-minute application. FICO 500+ considered. $25,000 to $5,000,000, funded in as little as 24 hours.
Apply Now →It takes about two minutes and it will not affect your credit score.
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