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TEG offers a full suite of business lending products designed to give your business a total package of savings and convenience from one comprehensive reliable source. We currently offer:
For additional information or to find out which loan is right for you, please contact our Business Services department at 845-452-7323 x 1215.
Eligibility
Businesses that are located in Dutchess, Orange or Ulster counties can apply for a business loan.
Eligible Business Types:
- Sole Proprietorship/DBA (Doing Business As)
- Partnership
- Subchapter "S" Corporation
- Corporation
- Organization
- Limited Liability Company (LLC)
- Limited Liability Partnership (LLP)
Ineligible Business Account Types:
- Any business engaged in illegal practices
- Companions, escort and dating services
- Massage parlors
- Sexual encounter clubs and organizations
- Drug parahernalia sales
- Lotteries or raffles
- Businesses dealing with the occult (i.e. psychics)
- Pornographic material
- Pyramid schemes, multi-level sales, etc.
- Check cashing stores
- Issuer, seller or redeemer of money orders and traveler's checks
- Currency exchange business
- Currency dealer
- Convenience store, gas station or private postal service that provides wire services through Western Union or provides check cashing services
- Funds transfer services (i.e. wire services)
- Casinos and card clubs
- Offshore corporations and banks located in tax and/or secrecy havens
| Term Loans |
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| Amounts from: |
$5,000 to $1,500,000 |
| Terms: |
12-60 months |
| Interest Rates: |
Fixed or Variable |
| Collateral: |
Secured and Unsecured |
| Purpose: |
Purchase of Capital Assets
Remodel or Expansion
Business Acquisition
Permanent Working Capital
Refinance/Consolidation of Business Debt |
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| Revolving & Non-Revolving Line of Credit |
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| Amounts from: |
$5,000 to $1,500,000 |
| Terms: |
Demand/Revolving LOC – 36 months Maximum Maturity |
| Interest Rates: |
Prime Plus an appropriate adjustment |
| Collateral: |
Secured and Unsecured- up to $100,000 |
| Purpose: |
Any general purpose |
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| Short-Term Notes |
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| Amounts from: |
$5,000 to $500,000 |
| Terms: |
30 - 180 days |
| Interest Rates: |
Fixed or Variable |
| Collateral: |
Secured and Unsecured |
| Purpose: |
Payroll & Taxes
Working Capital
Short Term Payables
Equipment
Land- Sale/Acquisition |
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| Commercial Real Estate Loans |
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| Amounts from: |
Up to $1,500,000 |
| Terms: |
Maturity up to 12 years, Amortization not to exceed 25 years |
| Interest Rates: |
Fixed or Variable |
| Collateral: |
Secured |
| Purpose: |
Owner Occupied Business Property
Investment Property |
To apply for a business loan, please click here.
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