Loans for Refinancing Debt
NYBDC term loans can be used to refinance debt that is currently on unreasonable terms (e.g. high interest rates, balloon payment due). Common requests include refinancing business credit card debt used to start or grow a business and “terming out” bank line of credit debt that is no longer meeting its intended purpose.
Line of credit “term out” transactions are done in participation with a Partner Bank. Loan maturities are tied to the useful life of the asset originally financed with the debt to be paid off.
Learn More About:
- NYBDC General Loan Information
- Working Capital
- Buying a Business
- Purchasing Equipment & Machinery
- Purchasing Real Estate
- Veteran Loan Program
- Women & Minorities Loan Program
Subscribe to our mailing list to stay up-to-date with the latest news from NYBDC.
The future was looking bleak for Joseph A. Sanders & Sons in 2013. Construction began...
Anna Hadyk and her asbestos-abatement firm, Dakota Environmental Services LLC, enjoyed substantial...
“The forms and the structure they require is exactly what a business needs. It’s very...
UTICA, NY (August 11, 2016) – NBT Bank Regional President John Buffa announced that Senior...
Back in 2011, Marisa Wu, owner of Salty Road, an artisanal salty water taffy manufacturer, decided...