Business Loans on Long Island's North Shore

The Gold Coast and its Main Streets

The North Shore of Long Island runs along Long Island Sound through Nassau County and into western Suffolk. The area is hilly and wooded, and its beaches are more rocky than sandy. It is known as the Gold Coast because more than 500 mansions were built here, many of them in the early twentieth century. Great Neck, Port Washington, Glen Cove, Oyster Bay and Huntington are the best-known towns, and Cold Spring Harbor has a whaling history that gave the area an early maritime economy.

That history left a pattern of walkable village centers with independent shops, restaurants and service firms, plus a large professional population: dental and medical offices, accountants, attorneys and real-estate firms.

Downtown by downtown

• Great Neck and Port Washington: dense retail and restaurant strips, commuter traffic and professional offices. Owners here usually carry high rent and need cash for build-outs and inventory.
• Glen Cove: a working waterfront, a revitalizing downtown and trades that serve nearby estates.
• Oyster Bay: marine services, historic-district shops and a visitor trade tied to the harbor.
• Huntington and Cold Spring Harbor: restaurants, performance venues, specialty retail and medical practices.

A boutique and a boatyard can be a mile apart and have very different financing needs.

Costs that stay high, revenue that does not

Commercial rent, insurance and payroll in this part of Long Island are among the more expensive in the state, and owners tell us the biggest risk is a slow month on a fixed cost base, not a lack of customers in general. The planning questions that matter are practical:

1. What is your monthly fixed cost total, and how many weeks of it could you cover from deposits alone?
2. Does the project you want funded bring in new revenue, or only reduce a cost?
3. How soon after purchase does it start earning?

What we offer

We fund $25,000 to $5,000,000, funded in as little as 24 hours. We consider FICO 500+, review about three months of business bank statements, do not require tax returns and use a soft credit pull. The application takes about five minutes, and sole proprietors can apply.

For illustration only, not our terms: a Huntington restaurant needs a $40,000 hood and ventilation replacement before a summer inspection. The decision turns on whether the kitchen can stay open during the work and cover the new payment with the covers it already serves.

Questions to answer before applying

Owners on the North Shore usually have solid revenue and tight margins, so the planning is about timing. Decide whether the money is for a build-out, equipment, payroll cover or inventory, because each earns back on a different schedule. Gather about three months of business bank statements. Be ready to describe what changes after the purchase: more seats, more appointments, more jobs per week or a lower repair bill.

1. What does the purchase cost, and by when?
2. What new revenue does it make possible each month?
3. What is the lowest-revenue month of the year, and can it carry the payment?

Related pages

See the North Shore overview, the pages for Nassau County, Suffolk County and the broader Long Island hub. Then start the application.