Here are some helpful answers to questions that borrowers often ask.

Q. What types of loans do you offer?
A. We specialize in owner-occupied commercial mortgages from $250,000 to $5 million.

We offer both SBA loans and USDA loans.

Q. What is the Ocean Capital borrower profile?
A. Repayment ability from business cash flow is the primary consideration. However, Ocean Capital also evaluates additional criteria in their decision process including global cash flow, business owner’s character, credit, management experience, collateral and owner’s injection.
Q. Does Ocean Capital verify income for its borrowers in its approval process?
A. Ocean Capital requires tax returns for documentation purposes.
Q. How do I know if I qualify for an SBA loan?
A. You must own the commercial real estate and operate your business at that location. Also, if there is more than one unit in the property, you must operate in at least 51% of the total square footage of the building.
Q. How do I know I qualify for a USDA loan?
A. You may qualify for a USDA loan if you own a commercial property that is used for business purposes, which is located in a rural community. A rural community is typically defined by the USDA’s Rural Housing Service as an open-country area or rural town with no more than 50,000 in population.
Q. What are the benefits of USDA loans or SBA loans verses conventional financing?
A. USDA and SBA loan guidelines allow for longer terms than conventional financing, which reduces your monthly payments. The loans are fully amortized and do not have balloon payments. They also have lower debt-service coverage requirements and the requirement for ‘years in business’ is shorter.
Q. What are the interest rates associated with commercial loans?
A. Rates vary according to the project and individual circumstance. Ocean Capital’s rates are very competitive. To see our current rates, go to the Loan Matrix. 
Q. What are the terms available?
A. It will depend on the program. SBA loans range from 7 to 25 years, depending on the use of funds. USDA loans generally range from 10 to 30 years. 
Q. What can I use the funds for?
A. Borrowers can use the loan proceeds for purposes such as; refinancing (both mortgage and other business debt), working capital, equipment purchases, purchasing an existing location, and building improvements.
Q. How long does the commercial loan process take?
A. It depends on the program used. The average length of time for a commercial loan transaction is 45-60 days.
Q. Are there any helpful hints for obtaining a loan from Ocean Capital?
A. 1.Start the process early – It takes time for lenders to qualify, approve, and close a loan – typically within 60 days.
2. Realistically define your needs – Carefully evaluate your needs and reasons for borrowing funds, and consult your accountant to prepare projections.
3. Get your financial records in order – Gather all business records for the past three years, including tax returns and financial statements. Also, collect important documentation such as ownership structure, current leases and insurance information.
4. Anticipate issues – Recognize your company’s strengths and weaknesses and identify potential problems upfront with your commercial loan officer.
Q. Where do you do business?
A. East of the Mississippi – Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, Connecticut, New York, Pennsylvania, New Jersey, Delaware, Virginia, West Virginia, District of Columbia, Maryland, North Carolina, South Carolina, Georgia, Florida, Alabama, Mississippi, Tennessee, Kentucky, Illinois, Indiana, Ohio, Michigan, and Wisconsin. 
Q. How do I get started with you?
A. Just pick up the phone or send us an email. One of our commercial mortgage specialists will walk you through our quick one-step process. We will have your business loan pre-approved in less than 24 hours. It’s that easy! Contact us today.

At Ocean Capital, we aim to make your business borrowing experience as convenient as possible...use our services below to get started today!


Download Forms




Ads-Mortgage Ads-T1
Go To Top

Personalization Settings



Home Loan Investment Bank would like to personalize your banking experience. Please enter your first name below..

This level of personalization will not lead to the sale of your name or leak your identity. The information you provide will only be stored on your computer and will not be transferred to the web server.

Please do not remind me again.