Business Loans










Business Loans

The First National Bank of Groton offers a wide range of loans at competitive rates and terms for business purposes:

  • To purchase, refinance or improve rental properties
  • To purchase equipment or vehicles
  • To purchase a business
  • To start a business
  • To existing customers to assist in short-term working capital needs

Due to our strong commitment to the communities we serve in Groton and Moravia, our primary focus is to develop and assist businesses in these villages and those within a 10 mile radius.

Rental Property

Mortgages are available to purchase, refinance or improve rental properties with terms up to 20 years. A minimum of 20% down payment is required for purchases and a maximum loan-to-appraisal ratio of 80% for refinances.

Small Business Administration (SBA) Guaranteed Loans

The First National Bank of Groton participates with the U.S. Small Business Administration in making loans for various business purposes under their guarantee program. Documentation requirements include those that we would ask for in a purchase or refinance situation as well as a few other mandatory forms. Terms and conditions vary according to request.

Click here for information on required documentation for business loans.

Contact Us

Stop in at one of our convenient locations or call us directly at our Groton office at 607-898-5871 or Moravia at 315-497-2707 during regular business hours.

You can also use our Secure Contact Form.