Loans & Credit /

Small Business Loans (SBA)

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.

    SBA 7(a) Loans

    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.

    • Terms up to 10 years for working capital
    • Terms up to 25 years for fixed assets
    • Purchase land, buildings, equipment, inventory, and fixtures
    • Leasehold improvements
    • Refinancing debts for compelling reasons
    • Start-up business
    • Local, Central New York decision-making and processing
    • Service customized to your needs
    SBA 504 Loans

    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.

    • Construction of new facilities
    • Renovating or converting existing facilities
    • Purchasing land and improvements
    • Purchasing long-term machinery and equipment
    • The 504 Program cannot be used for short-term working capital
    • Local, Central New York decision-making and processing
    • Service customized to your needs
    SBAExpress

    SBAExpress is a loan program that streamlines the processing and loan procedures for less complex SBA Loans. Costs are lower and decisions are faster.

    • Response will be given within 36 hours
    • Accelerated process for short-term needs
    • Seasonal lines of credit
    • Local, Central New York decision-making and processing
    • Service customized to your needs

    Want to learn more about loans?