Loans & Credit /

Commercial Real Estate Loans

Commercial real estate is a specialized market requiring specific expertise. Whether you're buying an existing building or constructing from the ground up, Solvay Bank has the expertise to tailor a loan to your needs.

Typically secured by a commercial mortgage and assignment of rents and leases — our commercial real estate loans are available for both owner-occupied and investment properties. As with all of our business lending, take advantage of thorough, personalized service every step of the way.

    • Available for owner-occupied commercial, industrial, retail, and office facilities
    • Short-term construction loans with permanent mortgage commitment
    • Flexible terms, typically between 15 and 20 years
    • Competitive fixed and variable rates
    • Local, Central New York decision-making and processing
    • Service customized to your needs

    Our Residential Builder Loan Program is offered to experienced local builders and developers.

    • Subdivision construction loans
    • Construction loans for single family contract houses
    • Competitive interest rates and closing costs
    • Loan advances based on percent complete
    • Local, Central New York decision-making and processing
    • Service customized to your needs
    Construction Loans

    We can provide financing for short-term construction loans or for a combination construction loan that converts to a permanent mortgage upon completion. This not only simplifies paperwork, it can save thousands in closing costs.

    • Available for short-term construction or conversion of permanent mortgage upon completion
    • Periodic draws on amount
    • Competitive interest rates
    • Save thousands on additional closing costs
    • Local, Central New York decision-making and processing
    • Service customized to your needs 


    Investment Properties

    Solvay Bank has the Service, Support & Options You Need

    When you are presented with an opportunity to purchase investment property — it’s important to act quickly.

    We’re proud to offer local experience and service; Providing you with solutions for funding and support for your questions when you need it. 

    Property Types

    Funding for nearly any investment property or construction project:

    • Apartments
    • Office
    • Retail
    • Mixed Use
    • Warehouse

    Loan Types

    • Construction
    • Interim 
    • Permanent (maximum term 20 years)

    Loan Amounts 

    • Amounts range from $100,000 to $3,000,000.

    Need more? Ask us about participations with other upstate New York community banks. 

    LTV Ratios

    • Depending on property type and project leasing status: 75% - 80%

    Minimum DSC Ratios

    • Depending on property type: 1.20x - 1.40x

    Recourse required from financially responsible property owner(s). 

    Interest Rates and Fees

    • Construction & Interim Loans: Variable tied to Solvay Bank Prime
    • Permanent Loans: Rate reset every 5 years determined by negotiated spread over 5 year UST
    • Loan Fees: Range from 0.5% - 1.0% of loan amount 

    Equity Requirements

    • Depending on property type: 15% - 25%


    Want to learn more about loans?