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Business Loans

We are here to help your business grow!

Can First Heritage really offer lower rates?

First Heritage is committed to getting you the financing you need to start or expand your business. We offer competitive interest rates, local decision making and personalized expert service.

Meet Our Commercial Lenders!

Our friendly and knowledgeable commercial team is available to assist you with any questions you may have.

Amy Saunders and Todd Strong

Todd Strong

Senior Commercial Lender
Corporate Headquarters & Retail Branch
607.937.1253 or

Amy Saunders

Commercial Lender
Elmira Heights Branch
607.937.1420 or

Warning: Email is not a secured method of communication and personal information, such as account number, date of birth and social security number should not be included in any email communications.

Products we offer:

We understand that businesses have unique financial needs, that's why we offer a diverse range of products designed to help your business thrive.

  • Commercial loans
  • Commercial lines of credit
  • Commercial mortgage loans
  • Equipment loans
  • Business Visa Credit Card®
  • LTV up to 80%
  • DSCR of 1.2%
  • Rates are fixed for 5 years & adjust every five years
  • Up to 20-year amortization with max term of 15-years (balloon payment due year 15)
  • Fees, greater of ½% of the loan amount or $500.00, plus a flood search fee of $18 (normal attorney fees thereafter). Appraisal and environmental if needed
  • Cash out refinance limited to 75% LTV
  • Lend up to the lesser of 80% of total project cost or as completed appraised value
  • Draw period up to 18 months
  • Rates are fixes for 5 years including the construction period
  • Amortization up to 20 years with max term of 15-years
  • Fees, greater of ½% of the loan amount or $500.00, plus a flood search fee of $18. (normal attorney fees thereafter)
  • Draw schedule is required
  • Itemized list of renovation to be completed
  • Same terms as above combination purchase and construction available.
  • Lesser of 80% of the purchase price and 80% of the renovation budget or as completed appraised value.
  • Fees greater of ½% of the loan amount or $500.00, plus a flood search fee of $18. (normal attorney fees thereafter)
  • Draw schedule is required
  • Itemized list of renovations to be completed
  • Personal financial statement
  • Copy of last bank statement (personal and business)
  • Last three years of personal taxes
  • Last three years of business taxes
  •  Purchase agreement (contract or dealer worksheet)
  • Personal financial statement
  • 2 years of business projections
  • Business plan
  • Resume for owners
  • Sources and uses of funds (what is being purchased)'
  • Offer up to 7-year amortization
  • 10% down payment required
  • Rates are .5% above the consumer rate
  • Loan documents can be completed using Esign

Hear it from our members

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"There's so many different levels to First Heritage.  Out of the whole entire thing (opening a business) the business loan was probably the easiest."

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"First Heritage was great from the beginning, that personal touch...The very first meeting, the loan officer came here while we were still doing renovations. We could tell First Heritage was special."

Educational Resources:

Woman in a store taking inventory on her tablet


Operating a successful business takes more than a good idea and hard work. It requires capital to purchase equipment, lease space, pay employees, and promote the business. Continue reading about Financing and Funding for You Small Business...
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As an entrepreneur, you may be feeling stressed and uncertain due to the challenges you are facing during the pandemic and recovery. Continue reading about Overcoming Small Business Financial Hardships...

This credit union is federally insured by the National Credit Union Administration.