155 S Main St – #403

Providence, RI 02903

401-453-0118

Fax: 401-454-4890
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How can we help you?

When was the last time someone asked you that? We make it quick and easy to receive quality loans at the lowest rate possible.

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Learn about the 504 Program

Benefits include long-term fixed rate financing below market rates, the ability to obtain up to 90% financing, and more.

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Grow your business.

Whether you're just starting out or looking to grow, gain the confidence to do so. Acquire capital while also obtaining advice, training, and other valuable resources.

Veterans

Veterans Advantage

Are you a Veteran or Active Duty Service Member? Please ask us about the benefits of our new Veterans Advantage Program!

WhoWeAre

Who We Are

Ocean State Business Development Authority works with your company to help acquire low-rate business loans for your new or existing business.

ServingCommunity

Serving Community

OSBDA serves all of Rhode Island, New London County (CT), Middlesex County (CT), Windham County (CT), Worcester (MA), Norfolk (MA), Bristol (MA)

SmallBusinessLoans

Small Business Loans

We understand that business owners’ most important commodity is their time. Contact us today to see how we can help your business.

Current Debenture Rates

Rates to the right are for loans approved and funded after May 1st, SBA has reduced the borrower fee for FY 2016 to 0.914. Last updated 5/2016. *per NADCO

20 Year Rate: 4.11%

July 2016

10 Year Rate: 4.09%

July 2016

Current Debenture Rates

Rates below are for loans approved and funded after October 1st, SBA has reduced the borrower fee for FY 2016 to 0.914. Last updated 3/2016. *per NADCO

20 Year Rate: 4.784%

February 2016

10 Year Rate: 3.88%

January 2016

Our Mission Statement

To efficiently provide unique capital and services to small businesses located in Rhode Island, Massachusetts, and Connecticut; helping them acquire equipment and commercial real estate to grow their businesses. Also to provide advisory, training and other needed resources to small businesses while fostering a positive work environment that provides employees a place to grow, learn, and develop themselves professionally. http://jump4loves.com/live-girls/

Frequently Asked Questions

What's the Purpose of the 504 Program?

The US Small Business Administration 504 Program is designed to provide financing for the purchase of fixed assets at a fixed rate throughout the entire life of the loan. Operating as a Certified Development Company (CDC), Ocean State Business Development Authority is a nonprofit corporation established to contribute to the economic development of local communities in Rhode Island, Massachusetts, and Connecticut.

Why Is the 504 Program Beneficial?

Long-term fixed rate financing at below market rates. Customers can obtain up to 90% financing. Borrowers receive an expedited closing and low legal fees.

How Does OSBDA Process Applications?

Our team will guide you through the process from application to closing. We here at OSBDA pride ourselves in customer service and emphasize communication with Banks, and most importantly our Borrowers. We understand that a business owner’s most important commodity is their time. Our lenders will work with you to ensure satisfaction throughout the entire process.

Growing small businesses, just like yours

GrowingBusinesses

Why Choose Us?

Experienced

We have over 40 years experience providing loans for small businesses.

Local

Serving businesses throughout RI, and nearby areas of CT and MA.

Professional

Licensed and regulated by the U.S. Small Business Administration.

We understand that business owners’ most important commodity is their time.

Request Information

To improve the regional economy, the Ocean State Business Development Authority, based in Providence, Rhode Island, helps with small business loans.

Please fill out the form to the right to request information about our products and services or to provide feedback about our site.

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