The Commercial Loan Department is committed to helping local businesses succeed and grow. We offer local decisions, customized solutions, competitive rates, and excellent customer service. Whether you need to purchase/refinance real estate, purchase equipment or inventory, increase working capital, or grow your business, Elmira Savings Bank offers a variety of financing tools to help you. Let us help you find the loan that is right for you. Please call 607-734-3374, (888) 372-9299, to speak to a loan officer and to obtain a quote or discuss specific terms.
Commercial Real Estate Mortgages
Long-term loan used to purchase or refinance existing debt for owner occupied or non-owner occupied leased commercial properties. Typically, the bank will lend up to the lesser of 80% of the property's appraised value or cost. The mortgage may carry a fixed or variable rate.
Short-term loan used to finance new construction or renovation of business or investment property, with the added feature of converting to a permanent loan upon construction completion. We can help you with financing for the construction of multi-family units, commercial and industrial buildings, or residential developments.
A short-term loan to buy and/or develop land into residential building sites by constructing roads, sewer and water lines, and utilities. The loan is secured by a mortgage lien on land and improvements and is paid down each time a lot is sold.
A term loan is ideal for financing business assets such as machinery, equipment, leasehold improvements, and vehicles, or to provide permanent working capital. Terms vary and both fixed and variable rate loans are available.
A great loan for your short-term financing needs with terms up to ninety days.
Lines of Credit
Allows borrowing against a revolving, established credit limit for short-term working capital to help fund your operating cycle. Funds are accessed as needed, interest is paid only on the amounts advanced, and repayment options are flexible.
The U.S. Small Business Administration (SBA) has developed loan programs designed 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 Elmira Savings Bank. We participate in multiple programs and are part of the SBA’s Preferred Express Program.
Independently owned and managed new and existing businesses that may not qualify for financing under conventional bank terms can improve their borrowing power by having the SBA guarantee part of their loan.