PART II MERCHANT LOANS
INFORMATION and PROCESS
Applicants will first submit a “Qualifying Application” to the BXV FOR BXV Credit Committee.
The Qualifying Application process is a preliminary process administered by the Credit Committee without involvement of the Banks and will require less information from a prospective Borrower than the “Formal Application” process with a Bank.
If the Credit Committee grants its preliminary endorsement of a Qualifying Application, it will ask the Borrower to submit a Formal Application using application forms provided by the Bank from which the Borrower wishes to obtain a Loan.
Once the Borrower completes the Formal Application form, it will submit the completed Formal Application to the Credit Committee for final endorsement.
If the Credit Committee grants a final endorsement, it will forward the Formal Application to the respective Bank. Borrowers will be contacted directly by the Bank as and when Formal Applications are processed, and will work directly with the Bank in order to execute any final documents of the process.
Please click and read "Complete Program Details"
Completed applications can be delivered by hand or mail
to the Chamber office.
If you have not received an application and believe you may qualify please send us an email to email@example.com
Please know your privacy is important to us.
All information provided will be handled in the strictest confidence.
Online applications will be encrypted and secure to the fullest extent.
Lenders are TrustCo Bank and The Westchester Bank.
To see each bank's required application forms please click below.
Please note: The Westchester Bank also requires your most recent year of business tax returns (Federal-only) – 2018 is sufficient if 2019 has yet to be filed.