The U.S. Small Administration has developed loan programs for small and/or growing businesses. While the funds are guaranteed in whole or in part by the SBA, the loans originate and are serviced by Solvay Bank.
We participate in multiple programs and are a Preferred Lender Program (PLP) in the SBA. Take advantage of generally extended terms and lower down payments. Big or small, Solvay Bank is here to help see that all local, Central NY businesses succeed.
The 7(a) Loan Program is SBA's most popular program. It is used for a great number of reasons by start-up and existing small businesses that might not be able to secure loans through standard channels.
Also called the Certified Development Company (CDC) Program, SBA 504 loans are designed to provide long-term, below market, fixed rate financing for major fixed finances and real estate.
SBAExpress is a loan program that streamlines the processing and loan procedures for less complex SBA Loans. Costs are lower and decisions are faster.