- Business
- Business Lending
Business Financing
Efficient business lending service — from start to finish.
Commercial Line of Credit
Uses/Purpose
Working Capital; Short term financing needs; managing cash flow; financing inventory
Maturity
One-year term – annually renewable
Interest Rates
Floating, usually tied to Prime
Payments
Interest only; pay down principle as cash flow allows
Commercial Term Loans
Uses/Purpose
Purchase Buildings; Purchase Equipment, Business Acquisition
Maturity
5-20 years depending on purpose
Interest Rates
5-year fixed rate; adjusts every 5 years
Payments
Monthly installment payments over the life of the loan
Business Financing
Efficient business lending service — from start to finish.
Commercial Line of Credit
Commercial Term Loans
Working Capital; Short term financing needs; managing cash flow; financing inventory
Purchase Buildings; Purchase Equipment, Business Acquisition
One-year term – annually renewable
5-20 years depending on purpose
Floating, usually tied to Prime
5-year fixed rate; adjusts every 5 years
Interest only; pay down principle as cash flow allows
Monthly installment payments over the life of the loan
Savoy Bank Business Lending Highlights
Savoy Bank worked diligently over the last several months to deploy the SBA’s Paycheck Protection Program (PPP) to support the New York City metro small business community. We are proud to have assisted business owners during this challenging time. These are Savoy Bank's business lending highlights as of November 1, 2020. Read the full update.
$229 Million
PPP Loans Issued
$45.9 Million
SBA Loans Issued
$38 Million
Conventional Loans Issued
1,200+
Companies Helped through
PPP Process
24,888
Jobs Retained by
Small Businesses*
If you or any of your business clients are seeking commercial and business lending solutions, we look forward to providing guidance. Learn More
*As indicated and aggregated through client PPP applications
Lending services
Tailored financing options to help move your business forward.
Conventional Loans
Our lending representatives have a high level of expertise across a number of industries and are specialized in helping you to find the right type of financing that will work for your business.
SBA Loans
Our preferred status with the Small Business Administration means that our experts can provide you with a more streamlined process than many other financial institutions.
USDA Loan Program
Our lending specialists will work with you to determine your debt financing options and find the loan solution that works best for your business.
My business is seasonal. When financing is needed, every day that I don't close the deal I'm losing money."
Ready to achieve your financial goals?
Find the right lending solutions with our experienced representatives.
Let's Connect