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Rondout Savings Bank is committed to working to improve access to financing for underserved small businesses owners within a targeted geographic area of Midtown Kingston through the Midtown Kingston Business Capital Program.

 The program’s primary mission is to improve access to financing for small business owners in need, at the speed of business.  The borrowers will utilize a streamlined, in-person application to apply for Business Term Loan, Lines of Credit or Emergency Micro Loans. The loans will be intentionally affordable with interest rates well below market rates. This program will support loan affordability, it will reduce barriers, support financial independence, and help build lasting relationships between the bank and the business owners.

Eligibility of credit approval will not be solely reliant on credit score thresholds.  Rather, credit counseling will be available for those borrowers who need assistance through the Bank’s Financial Empowerment Program. The Bank has built a financial empowerment component into the program with the intent to clear a path for the borrower to gain financial independence and sustainability in the future.

Loans are available to businesses who have been established for a minimum of one year and who have less than $750,000 in annual revenue and who are not considered a prohibited business.

Supported by the NoVo Foundation

Some of the program benefits included are:

    • Streamlined in-person application, the Banker can come to you
    • Affordable interest rates at 2%
    • Loans will not require collateral
    • Term loans with flexible repayment schedules, from 12 to 60 months, in any amount from $10, 000 up to $50,000
    • Lines of Credit in any amount from $10,000 to $50,000
    • Emergency Micro Loans in any amount from $2,000 up to $10,000
    • Quick and easy turnaround times
    • Assigned Loan Officer who will offer support throughout the entire process and beyond
    • Free Financial Education available

Contact Information

Kathleen Pless SVP, Chief Lending Officer

Kathleen Pless
SVP, Chief Lending & Retail Officer
300 Broadway
Kingston, New York 12401

Cheryl Bowers headshot

Cheryl Bowers
President and CEO
300 Broadway
Kingston, New York 12401

Karen Burchell headshot

Karen Burchell
SVP, Chief Credit & Operating Officer
300 Broadway
Kingston, New York 12401

Types of Loans

Loan Amount: Minimum $10,000 Maximum $50,000
Repayment Terms: Minimum 12 Months Maximum 60 Months
Interest Rate : 2%


Loan Amount: Minimum $10,000 Maximum $50,000
Repayment Terms:  Interest billed monthly, annual renewal
Interest Rate: 2%


Loan Amount: Minimum $2,000 Maximum $10,000
Repayment Terms: Minimum 12 Months Maximum 24 Months
Interest Rate: 2%

No penalty for early repayment for the three loan products shown above.

Designated Area for Business Capital Program

The designated area includes those businesses located in the Midtown Business District which roughly encompasses the Midtown Broadway corridor bordered by Albany Avenue to the north, and West Chester Street to the South; Washington Avenue to the west and Foxhall Avenue to the east.

Midtown Kingston Business Capital Program Flyer

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