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Bottom line: This Long Island lender offers the basics to small businesses and New York residents. But it has a limited website, even for a community bank.
Business term loans, business lines of credit, commercial equity lines, SBA 504 loans, commercial mortgages, personal loans, auto loans, HELOCs
Types of loans available
Long Island, NY
Area serviced
No
Online applications
Types of loans available | Business term loans, business lines of credit, commercial equity lines, SBA 504 loans, commercial mortgages, personal loans, auto loans, HELOCs |
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Area serviced | Long Island, NY |
Online applications | No |
Number of branches | 5 |
Branch hours | 8:30 a.m. to 4 p.m. Monday through Thursday, 8:30 a.m. to 6 p.m. Friday, 9 a.m. to noon Saturdays at all branches except East Northport |
Customer service hours | Not stated |
Customer service options | Contact your local branch |
Mobile app | Yes |
Routing number | 21413388 |
Review by
Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.
American Community Bank could be a good fit for small business owners who prefer to have a personal relationship with a lender with strong ties to the community. But its selection of business loans is limited. You can find an SBA 504 loan through this bank, for example, but not financing through the more popular 7(a) program. And even the 504 loans program is limited to commercial mortgages.
Its web design is also a little outdated, even compared to other community banks. Consider another lender if you’re looking for more nuanced options than a term loan or line of credit.
American Community Bank, or ACB, is a small bank based in Long Island, New York. It has five branches in Commack, East Northport, Glen Cove, Mineola and New Hyde Park. Like most local lenders, it makes an effort to be involved in the community it serves. It regularly hosts local events like free giveaways and raffles at the downtown sound in Glenn Clove or the East Northport Chamber Festival.
ACB offers a limited selection of financing for Long Island businesses and residents.
Like many lenders of this size, the only way to get an ACB loan is to set up an appointment with a loan officer at a local branch. Bring your business's financials to your first meeting so you can discuss your options. Generally, it's a good idea to go in open to suggestions. Your loan might suggest alternatives to the type of financing you originally wanted, which could be a better fit.
Getting community bank financing can take a few weeks the first time around. But it's typically not as time-consuming once you've developed a relationship with your lender.
Set up an appointment by calling ACB's Commercial Lending Department at 516-609-2850. This department is based in the Glen Cove office.
Compare how ACB stacks up against online lenders by selecting a few pieces of information about your business and the loan you want to take out.
BBB accredited | No |
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BBB rating | NR |
Yelp | 1 out of 5 stars, based on 1 customer reviews |
Glassdoor | 4.3 out of 5 stars, based on 2 customer reviews |
Indeed | 3.8 out of 5 stars, based on 5 customer reviews |
Customer reviews verified as of | 30 November 2020 |
ACB doesn't have enough online reviews to give you a picture of the customer experience. It also doesn't have enough complaints to highlight any potential red flags. Ask your neighbors and other businesses in the area to see if anyone has experience borrowing from this bank
Employees at ACB give mostly positive reviews. Some highlight quality customer service and low-cost products as a perk of the job — including an employee who has been on staff for over 10 years. Others mention a great work-life balance.
These are all good signs for potential borrowers. High employee morale means you're more likely to have the chance to develop a quality, long-term relationship with your lender.
Having multiple accounts with a bank can cut down on the turnaround time on a loan and make it easier to manage your finances. Consider also signing up for these accounts if you borrow with ACB.
Here's how to get in touch with ACB's five Long Island branches.
ACB is on the young side for a community bank. It was founded in 2001 by a group of local residents in business professions. The goal was to set up a financial institution that kept funds in the local area and offered personalized service. It's reached its relatively small size of five branches without buying out any competitors, and it appears to have plans on staying that way — at least for the foreseeable future.
Read our guide to the best business loans of the year to see how ACB compares.