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Business Banking
Business Loans
The First National Bank of Groton offers a wide range of loans at competitive rates and terms for business purposes:
  • To purchase, refinance or improve rental properties
  • To purchase equipment or vehicles
  • To purchase a business
  • To start a business
  • To existing customers to assist in short-term working capital needs
Due to our strong commitment to the communities we serve in Groton and Moravia, our primary focus is to develop and assist businesses in these villages and those within a 10 mile radius.
Rental Property
Mortgages are available to purchase, refinance or improve rental properties with terms up to 20 years. A minimum of 20% down payment is required for purchases and a maximum loan-to-appraisal ratio of 80% for refinances.
Small Business Administration (SBA) Guaranteed Loans
The First National Bank of Groton participates with the U.S. Small Business Administration in making loans for various business purposes under their guarantee program. Documentation requirements include those that we would ask for in a purchase or refinance situation as well as a few other mandatory forms. Terms and conditions vary according to request.
Click here for information on required documentation for business loans
Business Checking
The Business Checking Account benefits include:
  • Low monthly maintenance fees – waived with balance of $1,000 or more over statement period
  • Low per check fee – free checks based on your minimum balance
  • No fee for deposits
  • No number of items fee for deposits
  • No fee for ACH transactions or automatic debits/credits
  • Detailed monthly statement with check and deposit images
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    Each depositor insured to at least $100,000
    The First National Bank of Groton
P.O. Box 38, 161 Main Street, Groton, NY 13073 • 41 S. Main Street, Moravia, NY 13118
(607) 898-5871 • (315) 497-2707
Buzz: (607) 898-9700 • (315) 497-2200