SBA Loans
Access the capital you need to help your business succeed.
Ocean Bank participates with the U.S. Small Business Administration (SBA) to offer small business owners the opportunity to secure funding to take your business to the next level.
Loan Amount:
- From $125,000 to $5.5 million
Loan Purpose:
- Buy land or commercial property
- Make improvements to commercial property
- Purchase heavy equipment and machinery
Terms:
- 10-, 20- and 25-year maturity options available depending on use of funds
- Interest rate locks in when loan is funded
- Fully amortized loan with no balloon payment
Down Payment:
- As low as 10% of the amount of the loan
Eligibility:
- At least 51% of the commercial property must be owner occupied if it's an existing building or 61% if it's new construction
The business must operate as a for-profit company in the U.S. or its territories. SBA-eligibility is for small business with 500 or fewer employees and annual revenues under $7.5 million. Loans cannot be used for working capital, inventory, debt consolidation or refinance, or to purchase real estate investment property. The information above is intended to serve as a general guideline and is subject to change. Additional restrictions may apply.
Loan Amount:
- Up to $5 million
Loan Purpose:
- Working capital
- Purchase equipment, furniture, fixtures, supplies or materials
- Purchase commercial property or land
- Make improvements to commercial property or construct a new building
- Start a new business, acquire a business or diversify current operations
Terms:
- 10-, 20- and 25-year maturity options available depending on use of funds
Down Payment:
- As low as 10% of the amount of the loan
Eligibility:
- Your business has used alternative funding sources such as personal savings and demonstrates a need for funding
- Your business does not meet standard eligibility requirements for other conventional loan programs
The business must operate as a for-profit company in the U.S. or its territories. SBA-eligibility is for small business with 500 or fewer employees and annual revenues under $7.5 million. Loans may be used to refinance debt if certain conditions are met. The information above is intended to serve as a general guideline and is subject to change. Additional restrictions may apply.
Frequently asked questions about SBA loan programs
