Small Business Lending

Your business may need cash to expand, purchase inventory, consolidate debt or purchase equipment. We have money available to help your business grow and the flexibility to tailor a loan that meets your needs and budget. Small Business Loans are business purpose loans that are between $10,000 and $200,000 with total related credit of $400,000 or less.

  • Payments automatically deducted from a Chemung Canal checking or savings account
  • Saves money, competitive rates, no prepayment penalties
  • Convenient: quick turnaround time for decision and closing
  • You can apply for a small business loan at any of our branches.

Term Loan

  • Investing in major purchases such as plant or office equipment, computer systems, vehicles or machinery.
  • Finance 80% of purchase price
  • Fixed interest rates
  • Maximum seven-year term

Line of Credit

  • Access funds immediately for working capital, funding accounts receivable and inventory turnover
  • Variable interest rates, adjusted daily
  • Interest only payments
  • Three-year renewal period; no out-of-debt period


  • Purchase, construct, expand or renovate commercial and multi-family property
  • Interest rate fixed for the first five years, then adjustable every five years thereafter
  • Maximum 15-year term

Commercial Equity Line of Credit

  • Just like a home equity line of credit, but on a commercial/multi-family property
  • Variable interest rate, adjusted daily
  • Five-year draw period followed by a five-year renewal period or termed out
  • Monthly payments based on a 15-year amortization