Vehicle & Equipment Loans
Loan Type	Annual Percentage Rate (APR)	Details
Vehicle Loans	10.50% Index + Margin: Prime + 2.00%	Payment: Variable Term: Up to 72 Months
Equipment Loans	13.50% Index + Margin: Prime + 5.00%	Payment: Variable Term: Up to 72 Months
Multi-Purpose Lending For Owner Operated Businesses	Request a Quote	Financing offered through a relationship with Newtek Small Business Finance, Inc.
APR for Variable Rate/Fixed Payment loans, which may vary, is indexed to the highest Prime Rate in the Wall Street Journal on the last day of each month, plus the rate margin indicated above. Your payment is set at time of application and will not change; instead, the term may be shortened or lengthened. As of 7/31/2023, the highest Prime Rate was 8.50%. All rates disclosed above are done so using the APR (Annual Percentage Rate). All loans will be written at the above rate plus a 1% origination fee. Maximum Annual Percentage Rate is 18.00%.

Business Lines of Credit
Loan Type	Annual Percentage Rate (APR)	Details
Business Ca$hFlow Line of Credit¹	18.00% Index + Margin: Prime + 11.00%	Payment: Variable Term: Open
Business VISA^® Credit Card & Secured Business VISA^® Credit Card	14.50% Index + Margin: Prime + 6.00%	Payment: Variable Term: Open Rates & Terms
Savings Secured Line of Credit	9.50% Index + Margin: Prime + 1.00%	Payment: Variable Term: Open
¹Monthly payment is 2.00% of total outstanding balance or $25.00, whichever is greater. $25.00 monthly fee does apply. Overdraft is protection for your Business checking account. Maximum Annual Percentage Rate is 18.00%.

Business Real Estate Loans
Loan Type	Annual Percentage Rate (APR)	Details
Business Real Estate	10.75% Index + Margin: Prime + 2.25%	Payment: Fixed Term: Up to 180 months
Real Property Improvement	11.50% Index + Margin: Prime + 3.00%	Payment: Variable Term: Up to 180 months
Business Line of Credit Secured by Real Estate	11.75% Index + Margin: Prime + 3.25%	Payment: Variable Term: Up to 180 months Draw Period 10 Years (included in repayment term)
1 to 4 Family, Investor, Non-Owner Occupied Mortgage	Personalized Quote	Term: Up to 15 year term with 30 year amortization
Owner Occupied Real Estate	Request a Quote	Financing offered through a relationship with Newtek Small Business Finance, Inc.
Investment Property Financing	Request a Quote	Financing offered through a relationship with First New York Federal Credit Union.
Commercial Real Estate Loans	Request a Quote	Financing offered through a relationship with First New York Federal Credit Union.

Small Business Authority (SBA) Loans
Loan Type	Annual Percentage Rate (APR)	Details
SBA 7(a) Loan Program	Request a Quote	Financing offered through a relationship with Newtek Small Business Finance, Inc.
SBA CDC/504 Loan Program	Request a Quote	Financing offered through a relationship with Newtek Small Business Finance, Inc.

VISA^®
	Index + Margin	APR*
Business Visa^®	Prime + 6.00%	14.50%
Limits available from $500 to $15,000. Business Visa® monthly payments will be 2.00% of the total new balance, or $25.00, whichever is greater plus outstanding unpaid fees and charges, all prior unpaid payments and any mount that exceeds your credit limit.

Disclosure Information	Business Visa^®
Annual Percentage Rate for Purchases	14.50%
Cash Advance	14.50%
Balance Transfer	14.50%
Grace Period for Purchases	25 Days
Method of Computing the Balance for Purchases	Average Daily Balance (Including New Purchase)
Annual Fee	None
Minimum Finance Charge	None
Transaction Fee for Purchases	None
Foreign Transaction Fee	2% of transaction amount
Balance Transfer Fee	None
Late Payment Fee	$27.00
Over-the-Credit Limit Fee	None

Business Lending & Financing Programs

Financing & Lending Programs Up to $10 Million

You need money to operate your business and we have money to lend. We offer competitive loan rates with personalized service whether you're interested in a small business loan or a business line of credit. Use the proceeds for any number of purposes: expand or acquire a business, finance business expenses or office equipment, or purchase real estate. Through our relationship with Newtek Small Business Solutions Company, Saratoga’s Community Federal Credit Union offers a number of loan programs to suit the needs of any small business, with financing from $50,000 to $10 million. Whether you’re expanding, refinancing your existing debt or acquiring new equipment, we can provide financing solutions to help you grow your revenue or improve your cash flow. The experienced specialists will guide you through the process and clearly explain all lending options to determine the best fit.

Financing Programs (Non-Loan)
Loan Type	Benefits	Details
Accounts Receivable (A/R) Financing	Turn your receivables into working capital. One of the most convenient and flexible financing options available, Accounts Receivable (A/R) Financing is an ideal solution for short/term cash flow needs. Through this program you are able to accelerate cash flow by financing open invoices. Receive cash in advance of payments due from customers, typically within 30, 60 or 90 days, providing needed capital to meet operational overhead. Use of Proceeds Working capital Payroll needs Take advantage of trade discounts Extend credit to customers Fuel business growth Pay taxes Collateral Collateral includes receivables (house accounts).	Loan Limit Amount: $50,000 to $1.5 million Maximum Loan to Value (LTV): 90% of the Invoice Amount Details A/R Financing is not a loan, no debt is incurred Quick and Easy Funding Application process typically takes less time and effort than other types of financing, contact us today to learn more. No Application Fee, Contact Us Today Contact Request
Merchant Cash Advance	Merchant Cash Advance is not a loan—it’s the sale of your future credit card sales at a discount. You sell a fixed dollar amount of your future credit and signature debit card sales at a discount. Through an automated process, a fixed percentage is returned from each sale as it is settled. The percentage paid from each sale is fixed for the life of the funding, and the advance is paid back when you get paid. Use of Proceeds Use the cash to grow, build and strengthen your business. Expand inventory Pay taxes Pay operational expenses	Loan Limit Amount: $5,000 to $250,000 Details Merchant Cash Advance is not a loan Quick and Easy Funding Application process typically takes less time and effort than other types of financing, contact us today to learn more. No Application Fee, Contact Us Today Contact Request

Small Business Authority (SBA) Loans
Loan Type	Benefits	Details
SBA 7(a) Loan Program	Flexible term lending for small business owners. From startup phase to the expansion of your business, you may find it difficult to overcome the requirements of traditional bank loans. Loans available through the U.S. Small Business Administration 7(a) program offer flexibility to business owners because financing can be guaranteed for a variety of general business uses including: working capital, debt refinancing, equipment purchases and more. Use of Proceeds Expand or acquire a business or franchise. Acquire 100 percent of an existing business, or pay fees to start a franchise Working capital Refinance debt Purchase machinery and equipment Buyout a partner Collateral Collateral includes all business assets and may also include personal assets.	Loan Limit Amount: $50,000 to $5 million Eligibility Business must be operated for profit Business must be open to all on a nondiscriminatory basis Business must be located in the United States Owner(s) must be U.S. citizen(s) or have legal permission to live in the U.S. Business owner must be able to demonstrate repayment ability from earnings Business must not be involved in investment real estate, religion, politics, or adult related services Contact Request
SBA CDC/504 Loan Program	Financing for major fixed assets such as equipment and real estate. This program helps small businesses purchase the assets needed to take it to the next level. Loans cannot be used for working capital or purchasing inventory. This program offers a long-term financing tool that provides growing businesses with fixed-rate financing to acquire assets such as land, buildings, and sizable purchases of equipment. Use of Proceeds Purchase or renovation and expansion of owner-occupied real estate (51% or greater owner occupied) Collateral Collateral includes the real estate	Loan Limit Amount: $250,000 to $4 million Eligibility Business must be operated for profit Business must be open to all on a nondiscriminatory basis Business must be located in the United States Owner(s) must be U.S. citizen(s) or have legal permission to live in the U.S. Business owner must be able to demonstrate repayment ability from earnings Business must not be involved in investment real estate, religion, politics, or adult related services Contact Request

Multi-Purpose Lending
Loan Type	Benefits	Details
Multi-Purpose Lending For Owner Operated Businesses	Financing for a variety of general business uses. We offer a number of loan programs to suit the needs of any small business (manufacturing, service, retail, professional or wholesale), with several low-cost lending options and longer maturities than the conventional loan programs. Use of Proceeds Expand or acquire a business, or franchise. Acquire 100% of an existing business, or pay fees to start a franchise Finance business expenses (working capital). Pay salaries and vendors, purchase inventory, advertise, finance receivables, pay bookkeeping and legal fees, or rent office space. Purchase office or other equipment. Purchase computers, furniture, fixtures, manufacturing equipment, and heavy machinery Purchase or improve owner-occupied real estate. Purchase or construct buildings, make leasehold improvements, expand or renovate facilities, or purchase land. If purchasing, owner must occupy at least 51% of the real estate; if constructing, owner must occupy at least 67%. Collateral Collateral includes all business assets and may also include personal assets	Loan Limit Amount: $50,000 to $10 million Eligibility Net worth must not exceed $7.5 million Average net income over the last 2 years must not exceed $2.5 million Business must be operated for profit and located in the U.S. Owners must be U.S. citizens or resident aliens At least 51% occupied by owner operated business No Application Fee, Contact Us Today Contact Request

Business Real Estate
Loan Type	Benefits	Details
1 to 4 Family, Investor, Non-Owner Occupied Mortgage	Invest in a 1 to 4 family building for investment purposes. This non-owner occupied loan can help you acquired, refinancing, construct and invest in real property. Collateral Business real estate will be secured as collateral.	Loan Limit Amount: Up to $417,000 Maximum Loan to Value (LTV): 80% Fees: Up to 1% Origination Fee Geographic Area: Properties located in the following counties will be considered: Albany, Fulton, Montgomery, Rensselaer, Saratoga, Schenectady, Warren, and Washington. Rates
Owner Occupied Real Estate	Financing to help businesses acquire, refinance or improve assets such as land and buildings. We understand each organization has its own unique needs. In order to help meet these needs and enhance your potential, we offer a number of low-cost lending options to help businesses succeed. Better yet, our loans offer longer maturities than conventional loans offered by other organizations. Use of Proceeds Purchase or refinance owner-occupied real estate Renovation and expansion of owner-occupied real estate	Loan Limit Amount: Up to $10 million Maximum Loan to Value (LTV): 90% Eligibility Net worth must not exceed $7.5 million Average net income over the last 2 years must not exceed $2.5 million Business must be operated for profit and located in the U.S. Owners must be U.S. citizens or resident aliens At least 51% occupied by owner operated business No Application Fee, Contact Us Today Contact Request
Investment Property Financing	Use a non-owner occupied real estate loan to finance investment or income property. Fixed term Competitive interest rates	Investment property financing offered through a relationship with First New York Federal Credit Union. Learn More
Commercial Real Estate Loans	Whether you are looking for a new commercial property or refinancing an existing property, we provide members with competitive financing for commercial real estate including multiuse business/residential properties. Fixed term Competitive interest rates Finance business growth	Commercial real estate loans offered through a relationship with First New York Federal Credit Union. Learn More

Newtek has been providing services to clients across the country since 1972. Their experience and track record makes them an invaluable resource to our members. Regardless of your situation, chances are they have worked with others just like you. All loans made or serviced under the SBA program (U.S. Small Bus. Administration) are made by Newtek Small Business Finance, Inc., a licensed U.S. SBA lender.

Resources

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