The experts at Ocean State Business Development boast 40 years of experience in assisting businesses acquire low-rate business loans. Since the original certified development company in 1981, the authority has been serving businesses in Rhode Island, and nearby areas of Connecticut and Massachusetts.
The authority is licensed and regulated by the U.S. Small Business Administration to make 504 loans in this region. Our role is to help small businesses access long-term fixed-asset financing in partnership with the private sector, usually a financial institution. The authority processes, closes and services the loans. The authority serves most for-profit businesses with less than $15 million in net worth or after tax profits of less than $5 Million.