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The City of Poughkeepsie in Dutchess County, NY has launched an economic development plan with a goal of improving the business climate within their downtown Innovation District.
Rhinebeck Bank has announced it will support this effort by allocating $3,000,000.00 of our loan portfolio to fund secured term loans including small business express loans, equipment and vehicle purchases, leasehold improvements and real estate transactions under favorable pricing, advance rates and terms to the prospective borrowers in the Poughkeepsie Innovation District. These loans are intended to encourage and facilitate investment in the City of Poughkeepsie.
All general underwriting standards and application requirements will remain in effect. Pricing, advance rate and term concessions will include:
Quickly secure up to $250,000 for new and used vehicles or equipment for your business with limited documentation requirements and a decision within one business day for most applications.
Financing for the purchase of equipment, vehicles, or for leasehold improvements. These loans are available to businesses within or relocating to the Poughkeepsie Innovation District.
Financing used to purchase or refinance commercial real estate properties. In addition, construction mortgages are available to improve existing properties or develop new sites.
For more information or to apply, please contact:
AVP, Community Lender
All loan applications are subject to credit approval. Non-Bank fees will still apply. Loans originated under this program are available to businesses within or relocating to the Poughkeepsie Innovation District.