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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

Uses/Purpose

Working Capital; Short term financing needs; managing cash flow; financing inventory

Purchase Buildings; Purchase Equipment, Business Acquisition

Maturity

One-year term – annually renewable

5-20 years depending on purpose

Interest Rates

Floating, usually tied to Prime

5-year fixed rate; adjusts every 5 years

Payments

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*

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.

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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.

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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.

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My business is seasonal. When financing is needed, every day that I don't close the deal I'm losing money."
Sanjay Patel