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American Community Bank loans review

Long Island business owners can find the basics at this five-branch lender

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.

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Business term loans, business lines of credit, commercial equity lines, SBA 504 loans, commercial mortgages, personal loans, auto loans, HELOCs

Types of loans available

No

Online applications

Details

Types of loans availableBusiness term loans, business lines of credit, commercial equity lines, SBA 504 loans, commercial mortgages, personal loans, auto loans, HELOCs
Online applicationsNo
Number of branches5
Branch hours8:30 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 hoursNot stated
Customer service optionsContact your local branch
Mobile appYes
Routing number21413388

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.

Expert review

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Its web design is also a little outdated, even compared to other community banks.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.

What is American Community Bank?

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.

What types of loans are available

ACB offers a limited selection of financing for Long Island businesses and residents.

  • Business loans. Secured and unsecured term loans to buy equipment, finance another purchase or refinance business debt.
  • Business revolving lines of credit. Designed to cover short-term working capital expenses, ACB's credit line gives your business access to cash as needed.
  • Commercial equity line of credit. Tap into your business's real estate assets to back a credit line at a lower rate and higher limit.
  • SBA 504 commercial mortgage loans. ACB offers the bank portion of this government-backed loan program to buy real estate for business use.
  • Commercial mortgage loans. Real estate financing for owner-occupied and investment properties with terms as long as 25 years.
  • Unsecured installment loans. Fixed-rate term loans to cover personal expenses, like home improvements, with no collateral requirements.
  • Secured installment loans. For lower rates or higher loan amounts, ACB customers can use a CD or savings account as collateral for their loan.
  • Auto loans. ACB offers financing for new and used car with fixed rates.
  • Home equity lines of credit. Tap into the value of your home to cover a long-term personal project like fixing a roof or redoing your floors at a lower rate than an unsecured loan or credit card.

How borrowing works

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.

How to get started

Set up an appointment by calling ACB's Commercial Lending Department at 516-609-2850. This department is based in the Glen Cove office.

Pros

  • Most branches open Saturdays
  • Mobile app
  • Positive employee reviews

Cons

  • Outdated website
  • Limited SBA loans

See more business loans

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.

Name Product Filter Values Loan amount APR Requirements

Lendio business loans
Finder Rating: 4.75 / 5: ★★★★★

Lendio business loans
$500 – $5,000,000
Starting at 6%
Operate business in US or Canada, have a business bank account, 560+ personal credit score
Submit one simple application to potentially get offers from a network of over 300 legit business lenders.

National Funding business loans
Finder Rating: 4.75 / 5: ★★★★★

National Funding business loans
$5,000 – $500,000
4% to 8%
Be in business at least one year and make at least $150,000 in annual sales. Other loan types have additional requirements.
Working capital loans and equipment financing, some high-risk industries may be eligible.

Fundbox lines of credit
Finder Rating: 4.2 / 5: ★★★★★

Fundbox lines of credit
$1,000 – $150,000
Not stated
6 + months in business, $100,000+ in annual revenue, 600+ credit score
Get flat rate, short-term financing based on the financial health of your business, not your credit score.

Bitty Advance business cash advances
Finder Rating: 2.8 / 5: ★★★★★

Bitty Advance business cash advances
$2,000 – $25,000
Not applicable
$5,000 monthly bank revenue, 6+ months in business, business bank account open 3+ months, 450+ credit score
With APRs in the triple digits, this is best saved as a last resort.
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American Community Bank reviews and complaints

BBB accredited No
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

What do employees say?

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.

More products available at American Community Bank

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.

  • CDs
  • Checking and savings accounts
  • Credit cards
  • IOLA accounts
  • IRAs
  • Money market accounts

Branch locations

Here's how to get in touch with ACB's five Long Island branches.

Commack branch

  • Address: 100 Commack Road, Commack, NY 11725
  • Phone: 631-864-9800
  • Fax: 631-864-8686

East Northport branch

  • Address: 1968 Jericho Turnpike, East Northport, NY 11731
  • Phone: 631-486-5055
  • Fax: 631-486-5052

Glen Cove branch

  • Address: 300 Glen Street, Glen Cove, NY 11542
  • Phone: 516-609-2900
  • Fax: 516-609-8444

Mineola branch

  • Address: 285 Jericho Turnpike, Mineola, NY 11501
  • Phone: 516-742-4300
  • Fax: 516-742-4303

New Hyde Park branch

  • Address: 799 Hillside Avenue, New Hyde Park, NY 11040
  • Phone: 516-502-6611
  • Fax: 516-502-6633

American Community Bank history

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.

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