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NewBank is a state-chartered community bank founded in 2006 with 6 retail branches in NY and NJ, specializing in small business lending and SBA loans.
Data compiled from public sources
NewBank was founded on September 29, 2006, by a group of successful Korean-American businessmen, community leaders, and professionals with a focus on serving small business owners. The bank has grown from a single Flushing, NY location with 14 employees to six full-service retail branches—three in New York (Flushing, Manhattan, Bayside) and three in New Jersey (Fort Lee, Closter, Hudson Lights)—plus a newly opened Loan Production Office in Aurora, Colorado as of January 2025. NewBank offers comprehensive banking services including personal checking and savings accounts, time deposits, business checking and savings accounts, and various loan products.
Their loan portfolio focuses heavily on small business financing through SBA loans, conventional business loans, home mortgages, and trade financing. The bank emphasizes digital banking capabilities with online banking, mobile banking (M-Banking), e-deposit services, and integration with popular business tools like QuickBooks and payment services like Zelle. NewBank distinguishes itself as an independent community bank deeply committed to small business support and local economic development.
S. Small Business Administration—seven consecutive times (2013-2020), positioning itself as a top SBA lender in New York. Their stated mission emphasizes "success together" and community service through volunteer involvement and a "Community Giving Back" program.
The bank was also nominated as a Top Performing Bank by the ICBA and received the 2016 Banky Award from The Institute of Extraordinary Banking. NewBank operates as a traditional brick-and-mortar community bank with a specific geographic footprint in the Northeast. While their track record with SBA lending is strong, availability is limited to six branch locations plus a new Colorado office.
Customers seeking banking services outside these regions or those preferring purely digital banking without physical branch access may find limited options. The bank's emphasis on small business lending means consumer-focused individuals may have fewer listed product offerings compared to larger national institutions.
This is state-level context for Banks consumers in Flushing, NY. It does not confirm that Newbank or this specific location is licensed.
State regulator
New York Department of Financial Services
Consumer protection
Source: CreditDoc state-law summary and listed public regulator resources. Verify licensing directly with the listed state regulator before relying on a provider.
Newbank offers 15 services including Personal checking accounts, Personal savings accounts, Personal time deposit accounts, Business checking accounts, Business savings accounts, and 10 more.
Newbank has profile signals associated with Small business owners in New York and New Jersey seeking personalized SBA and business lending support, Korean-American business owners and community members in the tri-state area seeking culturally-connected banking, Entrepreneurs who value relationship banking and local community involvement over large national bank options.
Key strengths: 7-time consecutive SBA Pinnacle Award winner (2013-2020), demonstrating excellence in small business lending; Strong track record as top SBA lender in New York with diverse loan options for small businesses; Community-focused bank founded and operated by local businessmen with active community service programs. Areas to consider: Limited geographic footprint with only 6 branches in NY/NJ plus one Colorado LPO, restricting accessibility for most customers; No mention of specific APR ranges, fees, interest rates, or pricing details on website.
In the Banks category, comparable providers include Cathay Bank, George Dimov CPA, ICICI Bank New York Branch. Each company has different strengths, so compare services, pricing, and consumer complaint records before deciding what to do next.
CreditDoc Profile Note
NewBank is best suited for small business owners and entrepreneurs in New York and New Jersey who prioritize relationship banking, personalized service, and proven SBA lending experience context. The primary caveat is geographic limitation—with only 6 branches in the tri-state area, the bank is inaccessible to customers outside this region, and consumers seeking pure digital banking without branch interaction may find the model restrictive.
Cathay Bank is a full-service bank offering personal checking, savings, home mortgages, credit cards, and digital banking services with multilingual support.
Google rating from 5 reviews
Profile signals: Multilingual customers preferring banking services in Chinese, Spanish, or English, Small business owners seeking SBA loan programs and analyzed business checking accounts
NYC-based CPA firm offering tax preparation, accounting, bookkeeping, and financial advisory services for individuals and businesses across New York.
Google rating from 505 reviews
Profile signals: New York-based business owners and self-employed professionals needing comprehensive tax and accounting support, High-net-worth individuals seeking strategic tax planning and estate/trust services
ICICI Bank's US branch offers NRI banking services including money transfers to India, home loans, and corporate banking from offices in New York, California, and Texas.
Google rating from 466 reviews
Profile signals: Non-Resident Indians (NRIs) who need to send money to family and financial accounts in India, Indian expats seeking home loans for property purchases in India while living in the US
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