Saratoga's Community Federal Credit Union

Business Real Estate

Saratoga's Community Federal Credit Union is pleased to offer members Investment and Commercial Loans through a relationship with First New York Federal Credit Union. For more information on products and services please contact Bill Chow and let him know you are a Saratoga's Community Federal Credit Union member.

Contact Information

First New York Federal Credit Union

518.393.1326

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 Real Estate

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