Business Loans

Construction worker

Business Lines of Credit

Business owners, professionals and not-for-profit organizations can utilize our Short-term line of credit to fund their working capital or other Short term financing needs. These lines have a maturity of one year or less, and you can borrow and repay the line as needed. Interest rates on business lines of credit are floating based on the Prime rate. Depending on your creditworthiness, the line can either be unsecured or secured by current assets or other collateral as deemed appropriate.

Back to Top blue arrow

Business Revolving Lines of Credit

Our business revolving line of credit is a commercial line for a longer term up to a prearranged limit. A revolver can be either open-end or closed-end. (An open-end revolver has no maturity date but usually provides for monthly amortization based on a fixed-term for the balance, say 48 months, but the credit arrangement continues until terminated. A closed-end revolver has a fixed maturity date, and you can borrow up to a prearranged limit until the maturity date). Interest is collected monthly, but no amortization of principal is required. Interest rates on business revolving lines of credit are floating based on the Prime rate. Depending on your creditworthiness, the line can either be unsecured or secured.

Back to Top blue arrow

Business Term Loans

Our business term loans allow you to borrow a specified amount for a maturity of more than one year. The loan will have a fixed repayment or amortization schedule calling for regular payments of principal and interest, which over the term of the loan, will fully amortize the debt. Interest rates on business term loans can be either floating or fixed. Depending on your creditworthiness, the line can either be unsecured or secured.

Back to Top blue arrow

Business Credit Cards

Hudson Valley bank has an exciting and comprehensive suite of credit cards for business or personal use. Our credit cards feature an attractive rewards program, and competitive rates, as well as 0% APR on purchases and balance transfers for the first six months.

Businesses have a choice of a card with or without travel rewards. Individuals can choose from four cards, with either cash, travel or merchandise redemption rewards programs. Specialty cards are also available for young adults and college students. Approval for credit cards is subject to credit underwriting.

Back to Top blue arrow

Commercial Mortgages

Whether you are purchasing a piece of commercial real estate, looking to refinance an existing property, construct a property, or desire permanent financing on a newly developed one, Hudson Valley Bank can handle your commercial mortgage financing needs. Highlighted below are the Bank’s general lending parameters for our permanent and construction loans. 

Permanent Loans

Property Types & Loan Amounts:

  • Office -- $500,000 to $15 million
  • Multifamily -- $500,000 to $15 million
  • Retail -- $500,000 to $15 million
  • Mixed use -- $500,000 to $15 million
  • Warehouse/Industrial -- $500,000 to $5 million
  • Smaller and larger loan amounts available on a case-by-case basis

Geography:

  • Available in Westchester, Manhattan, Bronx, Queens, Brooklyn, Staten Island, Nassau, Suffolk, Putnam, Dutchess, Rockland and Orange Counties, Fairfield, CT, New Haven, CT, Bergin County, NJ, and other areas on a case-by-case basis.

Terms:

  • Multifamily – 5 or 10 years with re-pricing at the end of year 5 or 7 years, will consider longer terms
  • All other – generally 5 years; longer depending on leases, etc., with re-pricing at the end of year 5
  • Also offer 15-year, self-amortizing fixed rate loan

Amortization:

  • Up to 30 years

Pricing:

  • Fixed or variable rate

Unique Capabilities:

  • Very quick approvals and closings
  • All decisions made locally
  • Strong knowledge of local market
  • Extremely flexible

Construction Loans


Property Types & Loan Amounts:

  • Office -- $500,000 to $15 million
  • Retail -- $500,000 to $15 million
  • Mixed use -- $500,000 to $15 million
  • Warehouse/Industrial -- $500,000 to $5 million
  • Smaller and larger loan amounts available on a case-by-case basis

Geography:

  • Available in Westchester, Manhattan, Bronx, Queens, Brooklyn, Staten Island, Nassau, Suffolk, Putnam, Dutchess, Rockland and Orange Counties, Fairfield, CT, New Haven, CT, Bergin County, NJ, and other areas on a case-by-case basis.

Terms:

  • Up to 24 months (longer available based upon the scope and size of the project)

Amortization:

  • Interest only during construction

Pricing:

  • Floating rate typically tied to the prime rate

Unique Capabilities:

  • Very quick approvals and closings
  • All decisions made locally
  • Strong knowledge of local market
  • Extremely flexible

 

Back to Top blue arrow