Hanover Bank

80 East Jericho Tpke
Mineola, NY 11501

About Us

Hanover Bank (part of Hanover Bancorp, Inc.) is a community-focused commercial bank offering personalized financial services for consumers and businesses, including mortgages, business loans, and checking accounts. Established in 2009, they serve the New York metropolitan area and Long Island with a relationship-driven approach, utilizing modern technology and a network of branches. We emphasize personalized service, community commitment, and a range of digital and in-person banking solutions to support local residents and businesses.

Key aspects of Hanover Bank:

Technology-Driven: The bank is backed by state-of-the-art technology and is continually evolving its digital platforms to provide efficient and secure online services.
They focus on tailored products and services, aiming for a "fresh" and high-touch banking experience rather than a traditional teller-line system.

Nationwide SBA & USDA Lending:

Hanover Bank provides a comprehensive suite of offerings, including:
Commercial mortgages
SBA & USDA Loans
Business loans and lines of credit
Business checking, savings, and money market accounts
Mobile and internet banking, along with ATM services

Strategic Growth:
Hanover Bank is actively expanding its reach, with recent branch openings and the acquisition of Savoy Bank to strengthen its presence in the New York City market.
Part of Hanover Bancorp, Inc. Hanover Bank is the subsidiary of the publicly traded bank holding company, Hanover Bancorp, Inc. (NASDAQ: HNVR).

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What We Offer

Loan Types
  • SBA Express/Small Loan
  • SBA 7a
  • SBA 504
  • Commercial CRE
Rates
  • 6.75% - 9.75%
Closing Times
  • 45 Days
Loan Purposes
  • Purchase
  • Refinance
  • Construction
  • Business Acquisition
Borrower Types
  • Owner-Occupied Business
  • Investor (Tri-State Only)
Credit Requirements
  • 660 Fico Min
Documentation
  • 3 Years Personal & Business Tax Returns + YTD FS
Cltv
  • Up to 90%
Loan Amounts
  • Up to $15M
Max Ltv
  • 90%
Property Types
  • All (except religious, gaming, and adult themed)
Loan Terms
  • 10 Years - 25 Years
Occupancy
  • Owner-Occupied
  • Investor
Lien Position
  • 1st

Who We Are

Fantastic to work with and extremely fast closing time for SBA we closed in under 45 days!

M. Patel