• Checking Accounts
• Savings & Time Accounts
• Commercial Loans
• Commercial Real Estate Loans
• SBA (Small Business Administration) Loan Programs
• Merchant Mastercard/Visa Program
• BusinessAccess 24
• Investment Advisory Services
• Insurance

Business Traditional Checking accounts have low monthly maintenance fees and no minimum balance requirements. An earnings credit is applied to the account to help offset service charges.

NOW-Nonpersonal accounts are interest bearing accounts restricted to sole-proprietorships and non-profit organizations. A minimum balance is required to avoid monthly maintenance fees and earn interest.

Business Basic Checking accounts have no monthly maintenance fees and no minimum balance requirements.  Customers receive up to 300 free transactions before the per item fee of $ 0.30 is assessed.

Business Advantage Checking accounts have no monthly maintenance fee when the minimum balance of $25,000 is maintained.  Customers also receive 600 free transactions before the $ 0.30 per item fee is assessed. 

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Statement Savings-Nonpersonal is a variable interest rate account with a monthly statement. There are no minimum balance requirement or monthly maintenance fees.

Money Market-Nonpersonal accounts are designed for businesses that have excess cash and wish to earn a higher rate of interest.  A minimum balance of $2,500  is required to earn interest, and customers are rewarded with higher rates as the balance increases. 

Certificates of Deposit-Nonpersonal are time savings accounts. There is a minimum opening deposit and a penalty is assessed for early withdrawals. Competitive interest rates are offered for a variety of terms.

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Business Installment Loans, secured or unsecured, are granted to businesses or to individuals for business purposes that are scheduled to be fully amortized over a specific period of time. Usually such loans are in smaller amounts and up to 5 years in duration.

Equipment Financing Loans are made to finance the purchase of machinery or fixed assets other than real estate.

Leasehold Financing Loans are secured by leasehold improvements or other assets used to equip or furnish a business premise.

• Revolving Credit/Lines of Credit provide temporary credit and are usually secured with the current assets of the company. There are no set terms. The loan may be repaid in one or several payments or minimum monthly amounts as required by Solvay Bank.

Working Capital Loans are short-term (maturities of 12 months or less) or seasonal loans to provide temporary capital as required by the borrower's business cycle.

VISA Business Cards are nonrevolving lines of credit with a low annual fee and a competitive rate. Monthly management reports are provided at no charge.

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Commercial Mortgage loans are secured by a first mortgage on the property financed with an assignment of rent or leases. Types of Commercial Mortgage Loans include:

• Owner-occupied commercial facilities
• Short-term construction loans with a permanent mortgage commitment
• Subdivision loans

Construction Loans are used to finance land development prior to erecting new buildings. This type of loan is also used for on-site construction, alteration or renovation of buildings.

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SBA loans are originated by the bank and guaranteed either in whole or in part by the SBA. Solvay Bank participates in three SBA loan programs.

7(a) Loan Guaranty Program

• Expansion or renovation of an existing building
• Construction of a new facility
• Purchase land, buildings, equipment, inventory and fixtures
• Leasehold improvements
• Working capital and seasonal lines of credit
• Refinancing debts for compelling reasons.

504 Certified Development Company Program: The SBA 504 loan program is designed to provide long-term, below market, fixed rate second mortgage money for expanding businesses. The SBA 504 loan program is normally used in conjunction with conventional bank financing to provide up to a total of 90% project cost financing.

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Business customers of Solvay Bank may enter into the Mastercard/Visa Merchant program. All customers must have their business checking account with us.

Transaction Processing: All transactions are authorized through electronic draft capture. This type of processing reduces the risk of fraud and unauthorized use of cards by approving all transactions and immediately reducing the customer's available credit.

Discount Rate: Rates are based on the merchant's average ticket price. Generally, the higher the average, the lower the discount rate. There are no monthly service charges or per transaction fees.

Equipment Costs: The merchant purchases the point of sale terminal and/or printer for a cost determined by Solvay Bank. Prices generally range from $250.00 to $525.00 depending on the type of equipment. In some cases an imprinter may be required at an additional cost.

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BusinessAccess 24 is an online, real-time cash management system that delivers banking products and services directly into the offices of our commercial customers. 

Solvay Bank offers two BusinessAccess 24 programs; Basic and Enhanced.  Both programs allow corporate cash managers to make immediate and accurate funds management decisions based on real-time information including account balances, cash position, transaction activity, maturity, payment and interest.  They can also transfer funds between Solvay Bank accounts and place stop payments on checks. 

The Enhanced program provides sophisticated and flexible funds management capabilities that allow specifically authorized customer employees to make controlled disbursements, transfers, and payments including the creation and transfer of ACH files, internal and external transfers, and treasury, tax and loan payments.   Enhanced BusinessAccess 24 also has administrative features that offer the commercial customer flexible management of employee rights in multiple-user environments.  Access options, review requirements, time-of-day access, password control are available.

To enroll in BusinessAccess 24 Bill Payment click on the Services link located at the bottom of the screen after logging into BusinessAccess 24.

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