Financing to Help Your Business Grow
Whether you’re looking for a commercial mortgage, line-of-credit or small business loan, Suffolk Federal has the right commercial loan option for your business located or incorporated in Suffolk County*. Not sure what you need? Our business team will help determine your business’ needs and educate you on how to secure the commercial loan solution that’s right for you.
Find the Suffolk Federal business loan solution that works for you:
- Fixed-term Loans are structured with either fixed or variable rates with terms of up to seven years and payments automatically deducted from your choice of Suffolk Federal accounts.
- Commercial Mortgages can be used for new construction, purchasing a building, acquiring investment property or refinancing an existing building. With flexible terms, convenient payment methods, extremely competitive mortgage rates and fast turnaround, our commercial mortgages also come with no prepayment penalties.
- Lines-of-Credit help your business maintain liquidity for your operation and growth, so you can better carry accounts receivable, purchase inventory, pay suppliers and cover payroll. Establishing a revolving line-of-credit at Suffolk Federal can provide your company with the flexibility to increase and reduce borrowings based on your cash flow needs, minimizing your loan payments and interest costs.
- Equipment Lines-of-Credit offer the flexibility of prearranged financing for your equipment needs, while helping you minimize interest expenses by financing only what you need—when you need it. Line terms are available for up to 18 months, after which you may convert your outstanding balance to a fully amortizing term loan of up to seven years.
- Business Overdraft Line-of-Credit allows business members the convenience of access to their funds 24-hours a day, seven days a week. Business Overdraft Line-of-Credit loans are open-ended unsecured loans with variable rates.
- Small Business Administration (SBA) loans are ideal financing options for new businesses or to assist in the operation, acquisition or expansion of an existing business. Suffolk Federal offers both SBA 7(a) and SBA 504 financing programs. The SBA 504 loan program can allow you to obtain up to 90% financing of commercial real estate (eligibility criteria and limitations apply).