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nyc criminal lawyers over 30 years of experienceWe Know How To Win Cases

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Faced 5+ Years in Prison

People Vs Joseph Amico

Covered by NYDaily News. Las Vegas man accused of threatening a prominent attorney and making vile remarks.

Faced 10+ Years in Prison

People Vs. Anna Sorokin

Covered by New York Times, and other outlets. Fake heiress accused of conning the city’s wealthy, and has an HBO special being made about her.

Faced 3+ Years in Prison

People Vs. Genevieve Sabourin

Accused of stalking Alec Baldwin. The case garnered nationwide attention, with USAToday, NYPost, and other media outlets following it closely.

Faced Potential Charges

Ghislaine Maxwell Juror

Juror who prompted calls for new Ghislaine Maxwell trial turns to lawyer who defended Anna Sorokin.

Why Choose Us

Clients can use our portal to track the status of their case, stay in touch with us, upload documents, and more.

Regardless of the type of situation you're facing, our attorneys are here to help you get quality representation.

We can setup consultations in person, over Zoom, or over the phone to help you. Bottom line, we're here to help you win your case.

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Meet Todd Spodek

WE PROVIDE WHITE GLOVE SERVICE TO CLIENTS
WHO WANT MORE FROM THEIR ATTORNEY

The Spodek Law Group understands how delicate high-profile cases can be, and has a strong track record of getting positive outcomes. Our lawyers service a clientele that is nationwide. With offices in both LA and NYC, and cases all across the country - Spodek Law Group is a top tier law firm.

Todd Spodek is a second generation attorney with immense experience. He has many years of experience handling 100’s of tough and hard to win trials. He’s been featured on major news outlets, such as New York Post, Newsweek, Fox 5 New York, South China Morning Post, Insider.com, and many others.

In 2022, Netflix released a series about one of Todd’s clients: Anna Delvey/Anna Sorokin.

Why Clients Choose Spodek Law Group

The reason is simple: clients want white glove service, and lawyers who can win. Every single client who works with the Spodek Law Group is aware that the attorney they hire could drastically change the outcome of their case. Hiring the Spodek Law Group means you’re taking your future seriously. Our lawyers handle cases nationwide, ranging from NYC to LA. Our philosophy is fair and simple: our nyc criminal lawyers only take on clients who we know will benefit from our services.

We’re selective about the clients we work with, and only take on cases we know align with our experience – and where we can make a difference. This is different from other law firms who are not invested in your success nor care about your outcome.

If you have a legal issue, call us for a consultation.
We are available 24/7, to help you with any – and all, challenges you face.

Finding the Best Banks for Small Business Loans in Your State

Finding the Best Banks for Small Business Loans in Your State

Starting or growing a small business often requires financing to get off the ground. Small business loans allow entrepreneurs to access the capital they need to launch their venture and cover expenses like equipment purchases, renovations, inventory, marketing, hiring employees, and more. With so many options to choose from, finding the right lender for your specific needs can feel overwhelming. This guide covers tips for locating the best banks for small business loans in your state.

Determine What Type of Loan You Need

The first step is identifying what type of small business loan best aligns with your needs and qualifications. The most common loan types include:

  • SBA Loans – Backed by the Small Business Administration, these loans help entrepreneurs who may not qualify for traditional financing. SBA guarantees portions of loans made by banks and other lenders to reduce their risk.
  • Business Term Loans – These provide lump sum payments with fixed monthly payments over 3-10 years. They can be secured or unsecured.
  • Business Lines of Credit – Revolving credit accounts allow access to cash as needed. Only pay interest on what you use.
  • Equipment Financing – Funding to purchase necessary equipment like machinery, vehicles, IT systems. Payments are made monthly.
  • Invoice Factoring – Sell unpaid invoices to get immediate access to cash flow needed to cover expenses.
  • Alternative Loans – Offered by online lenders and fintech companies. May have higher rates but quicker approvals.

Consider when you need funds, how much you need, intended use case, and your ability to qualify and repay.

Research Local Bank Options

Your location plays a key role in loan availability and terms. Focus your search on banks operating in your state or metro region.

Many national banks like Chase and Bank of America have small business lending programs. However, smaller regional and community banks are worth considering too.

  • Local banks may be more invested in the area’s economic health. They have insight into regional industries and specialties.
  • Loan decisions may be made faster since they don’t get sent to a remote corporate office.
  • Regional banks can tailor solutions to suit local small business needs.
  • Smaller banks aim to foster long-term relationships with business borrowers.

Ask other entrepreneurs in your industry or neighborhood for recommendations on banks they’ve worked with successfully. Or search online review sites like Yelp to see which banks come highly rated for small business lending in your location.

Compare Loan and Account Terms

As you research potential lenders, pay close attention to the types of loans offered, loan amounts, rates, fees, repayment terms, collateral requirements, and other specifications.

  • Loan Amounts – Each bank sets its own minimum and maximum limits for lending. Make sure their available range meets your needs.
  • Interest Rates – Rates vary greatly depending on factors like your credit rating, collateral, loan type, loan amount, and the lender. Compare APR across multiple loan quotes.
  • Fees – Beyond interest costs, look out application fees, origination charges, prepayment penalties, late fees, insufficient funds fees, etc. These can add up.
  • Repayment Term Length – Typical loan terms span 3-10 years. Longer terms mean lower monthly payments but higher interest paid over time.
  • Collateral Policy – Some loans require pledged business or personal assets to secure the loan in case of default. This lowers the lender’s risk.
  • Funding Speed – From application to funding, how fast can you get financing? Alternative lenders often provide faster access to capital.

Pay attention to differences across lenders that influence the true cost of borrowing and repayment burden. Don’t just look at interest rates. Do the math to calculate total costs in each loan scenario.

Submit Loan Applications

After thorough research and comparisons, you can narrow down the top contending banks to apply with. Be prepared with all required documentation like prior years tax returns, business formation documents, business plans, profit and loss statements, balance sheets, etc.

Many banks allow online loan applications for convenience. Otherwise, schedule meetings with business bankers or lending officers at your chosen banks. Ask questions and discuss your specific situation to determine if they can address your needs.

A best practice is to submit applications with 2-3 potential lenders rather than just applying with one. This creates some competition among them to earn your business. If one lender offers unfavorable terms or declines your application, you have backups in place.

Compare Offers and Negotiate Terms

Hopefully you’ll receive multiple loan offers to choose between. Do another round of comparisons, this time with actual loan quotes in hand. In addition to rates/fees, consider factors like customer service, application experience, and your overall gut feeling.

If you have strong offers from multiple lenders, you may be able to negotiate improved terms with one or more. Be prepared to politely push back on interest rates, fees, collateral policy, or other pain points. Offer to shift more of your banking relationship to them in exchange for better loan terms. If able, highlight better offers from competitors and ask them to match or beat them.

Select Best Option and Complete Loan Closing

After careful consideration of pros and cons and negotiating your best deal, the last step is proceeding with your chosen lender by accepting their loan offer. Schedule a closing meeting to sign loan agreements and disburse funds.

Remember that lending relationships can span many years. Endeavor to choose a financing partner that earns your trust and stands ready to support your enterprise over the long haul. Even after you close your first loan, continue nurturing this important relationship so you have an advocate ready to assist with future funding needs.

Top Banks for Small Business Loans by State

This table summarizes the best banks for small business lending broken down by state:

State Top Regional Banks Top National Banks Top Credit Unions
Alabama Regions Bank, BBVA, Cadence Bank Wells Fargo, Truist, PNC Alabama CU, Alabama Teachers CU
Alaska Northrim Bank, First National Bank Alaska Wells Fargo, KeyBank Credit Union 1, Alaska USA FCU
Arizona Western Alliance Bank, MidFirst Bank Chase, Wells Fargo Vantage West CU, Arizona FCU

While major national brands have name recognition, take time to research regional and local banks operating in your state. Credit unions specific to your industry or geographic area are also great options with competitive loan products. With an array of lenders eager to win your business, shop around for the best fit.

Finding the Right Lending Partner

Securing financing for your entrepreneurial endeavor can be challenging. But finding the right lending provider that understands your business and funding needs makes a big difference. Rather than just a transactional relationship, you want a trusted advisor who will be in your corner at every stage of growth.

We hope this guide gave you tips on locating the best small business loan banks in your local area. Do diligent research and get informed before committing to any loan product. If you invest time upfront finding an ideal lending match, it will pay dividends for your enterprise down the road. Reach out with any other questions on securing financing for your aspirations and making those business dreams a reality

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Testimonials

I was searching for a law firm with some power to help me deal with a warrant in New York . After 6 days I decided to go with Spodek Law Group. It helped that This law firm is well respected by not only the top law firms in New York , but the DA , Judge as well. I...

~Fonder Brandon

5 Stars
It was my good fortune to retain Spodek Law Group for representation for my legal needs. From the beginning, communication was prompt and thorough. Todd, Kenneth and Alex were the first people I worked with and they all made me feel comfortable and confident that the team was going to work hard for me. Everything was explained and any concerns...

~A G

5 Stars
After meeting with several law firms, I chose the Spodek Law Group not only for their professionalism and experience, but for the personal attention given to me right from the initial consultation. It is important to recognize how crucial having the right legal team is when faced with potentially life altering events that impact families and the lives of loved...

~George Cherubini

Spodek Law Group

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We Provide Superior Service, Excellent Results, At A Level Superior To Other Criminal Defense Law Firms. Regardless Of Where Your Case Is, Nationwide, We Can Help You.
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