History of OSBDA

Ocean State Business Development (OSBDA) is a non-profit lender authorized to package and service US Small Business Administration (SBA) loans utilizing the 504 lending program.

OSBDA was created in affiliation with the City of Providence in 1976, as a Local Development Company authorized to administer the SBA 502 program. In 1981, the program was renamed the 503 program and OSBDA was one of the first companies in the nation to receive SBA approval to administer the newly created Congressional 503 program. It was renumbered 504 in 1987.

Initially, the geographic territory was limited to 4 counties in the State of Rhode Island. Today, our financing is made available to small business concerns to include the entire State of Rhode Island, Massachusetts, and the contiguous counties of Connecticut. 

We also provide financial assistance and advisory services to companies considering the possibility of selling their business or contemplating a merger or acquisition

Since our inception, we have participated with our valued bank lending partners in transactions for over $500 million.

Communities we serve:

All of Rhode Island
All of Massachusetts
Middlesex County (CT)
Windham County (CT)
New London County (CT)