commercial lender discussing options to business owner.

Borrowers Overview

FOR BORROWERS

Specializing in SBA loans and USDA loans, we provide government guaranteed funding to small business owners. With our efficient loan process, we do all the heavy lifting so that you can focus on what you do best– running your business. Get your application started online or call us for details, (401) 773-9509.

Your Business
  • Hospitality Industry
  • Medical Businesses
  • Service Industries
  • Other Industries Available


Our Products
  • SBA 7A & USDA B&I
  • Up to 80% Financing
  • Credit Scores Low as 660
  • Loans up to $5 Million
  • Flexible Underwriting
  • Streamlined Process

Our Service
  • Experienced Loan Officers
  • Fast Pre-Approvals
  • Online Payments
  • Online Forms





























Compare Loan Types


SBA 7(A) Loans

With the help of loan programs developed by the United States Small Business Administration (SBA), and the United States Department of Agriculture (USDA), Ocean Capital is devoted to helping small business owners across the country secure financing.
 
SBA's Preferred Lender Program
Shoreham Bank is a member of the Preferred Lender Program with the SBA.
  • SBA’s Preferred Lender Program (PLP) includes many of the nation’s largest lenders who do high volumes of SBA lending.
  • Preferred lenders can use a streamlined paperwork process with delegated authority to approve loans, which expedites the loan approval process for small business owners and delegates the final credit decisions to these lenders.
  • To learn more about the SBA 7(a) program, visit the official SBA website at: sba.gov


USDA BUSINESS & INDUSTRY (B&I) LOANS 

The USDA loan program is a government guaranteed program whose mission is to improve, develop and finance business & industry in rural areas of the country.

To learn more about the USDA program and rural development, visit the official website at: rd.usda.gov


SBA 7(A) 

Real estate, business acquisitions, and working capital.
 
Eligibility
  • For-profit small business owners seeking long term financing guaranteed by the government.
Max Loan
  • $5 million
Requirements
  • Properties must be at least 51% owner-occupied and operated. Borrowers must have adequate cash flow to cover debt levels and acceptable credit history.
Benefits to Borrowers
  • Long-term financing; Improved cash flow; Fixed maturity; No balloons; No prepayment penalty (under 15 years).

USDA

Purchase of real estate or working capital and business conversions. Investment properties are also eligible.

Eligibility
  • Borrowers located in rural areas seeking business financing.
Maximum Loan
  • $5 million
Requirements
  • Must meet USDA eligibility criteria for rural business location. Program is available for properties located in most towns with populations under 50,000.
Benefits to Borrowers
  • Provides loans to rural based businesses unable to secure conventional credit due to location and lack of comparable situations.