300 Jefferson Blvd. – Suite #105

Warwick RI 02888

(401) 291-1504

We Grow Small Business®

Low-Rate Business Loans

We are experts with over 40 years of experience in assisting businesses acquire quality loans at the lowest rate possible.

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.

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.

Who We Are

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

Serving Community

OSBDA serves all of Rhode Island and Massachusetts, New London County (CT), Middlesex County, Windham County

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.

Veterans Advantage

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

Check out the video to the right to learn about the basics of the 504 Program!

Benefits include:

  • A 25 year fixed rate
  • Competitive Rates lower than a conventional Bank Loan
  • As little as 10% down
  • Reimbursement of Professional Fees

Check out our other videos HERE

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 is a nonprofit corporation established to contribute to the economic development of local communities in Rhode Island, Massachusetts, and Connecticut.

Current Debenture Rates

Rates are subject to change, and may vary among Borrowers depending upon credit underwriting guidelines and other risk factors. Please contact a Loan Officer for more detail.

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

Why Choose Us?


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


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


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.

Note: Your details are kept strictly confidential as per our Privacy Policy.

    Your Name (required)

    Your Email (required)

    Your Message