TODAY’S LOAN RATES

Home Equity Loan

Fixed Rate – First Lien 

Fixed Rate – Second Lien

Fixed Rate

Variable Rate

Commercial

Bogota Saving Bank has been a leader in providing real estate loans for over 120 years. As a community bank, we have local decision makers that live, work and know the local markets. Our lending professionals will provide you with the highest level of service in understanding and meeting your financing needs.

Below are some of the highlights of our financing terms. This list is not all inclusive. Please call us for other terms. * Rates, terms and conditions are also subject to change at any time without prior notice.

Maximum Commercial Loan Amount: $7,000,000
Maximum Loan to Value Ratio: 70%
Prepayment Penalty: First Five Years
Minimum Debt Service Coverage Ratio 1.25X
Personal Guarantees Required
Business checking account required
Rates can be fixed for the first 3, 5 or 7 years
Adjusts every five years thereafter to the NY Federal Home Loan Bank five year advance rate plus 2.50% with a floor of the initial rate. Maximum Amortization/Maturity 25 years.
$500 Non-refundable Processing Fee

Real Estate Secured Small Business Credit Lines

If you are looking for control and flexibility, consider using your commercial real estate, personal residence or investment property to obtain a line of credit for your small business.

You may call or email one of our lending professionals for additional information. The following items will be required with your application.

$500 Non-refundable Processing Fee (applications will not be considered without the fee)
Signed copies of your three most recent years of personal and business FEDERAL INCOME TAX returns with all attached schedules (4506-Ts required)
Copy of actual income and expenses for subject property
Copy of all leases
Your most recent business financial statement (or within the past three months)
Asset Verification – account statements for the most recent three consecutive months
A fully-executed copy of the Purchase Sales Contract (if applicable)

Multi-Family

Bogota Saving Bank has been a leader in providing real estate loans for over 120 years. As a community bank, we have local decision makers that live, work and know the local markets. Our lending professionals will provide you with the highest level of service in understanding and meeting your financing needs.

Below are some of the highlights of our financing terms. This list is not all inclusive. Please call us for other terms. * Rates, terms and conditions are also subject to change at any time without prior notice.

Maximum Multi-family Loan Amount: $7,000,000
Maximum Loan to Value Ratio: 75%
Prepayment Penalty: First Five Years
Minimum Debt Service Coverage Ratio 1.20X
Personal Guarantees Required
Checking Account and all rent security accounts required.
Rates can be fixed for the first 3, 5, 7 or 10 years.
Adjusts every five years thereafter to the NY Federal Home Loan Bank five year advance rate plus 2.50% with a floor of the initial rate. Maximum Amortization/Maturity 30 years.
$500 Non-refundable Processing Fee

Real Estate Secured Small Business Credit Lines

If you are looking for control and flexibility, consider using your commercial real estate, personal residence or investment property to obtain a line of credit for your small business.

You may call or email one of our lending professionals for additional information. The following items will be required with your application.

$500 Non-refundable Processing Fee (applications will not be considered without the fee)
Signed copies of your three most recent years of personal and business FEDERAL INCOME TAX returns with all attached schedules (4506-Ts required)
Copy of actual income and expenses for subject property
Copy of all leases
Your most recent business financial statement (or within the past three months)
Asset Verification – account statements for the most recent three consecutive months
A fully-executed copy of the Purchase Sales Contract (if applicable)