Are you a Veteran or Active Duty Service Member? Please ask us about the benefits of our new Veterans Advantage Program!
Current Debenture Rates
Rates to the right are for loans approved and funded after October 1st, SBA has reduced the borrower fee for FY 2016 to 0.697%. Last updated 12/2016. *per NADCO
20 Year Rate: 4.376%
10 Year Rate: 4.152%
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%
10 Year Rate: 3.88%
Our Mission Statement
To efficiently provide 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.
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.
We have over 40 years experience providing loans for small businesses.
Serving businesses throughout RI, and nearby areas of CT and MA.
Licensed and regulated by the U.S. Small Business Administration.
We understand that business owners’ most important commodity is their time.
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.