Here are some helpful answers to questions
that borrowers often ask.

Q. What kind of deals do you offer? A. We specialize in owner-occupied commercial mortgages from $250,000 to $5 million.
We offer both SBA loans and USDA loans. Q. What is the Ocean Capital borrower profile? A. Ocean Capital borrowers are small business owners who own the underlying real estate asset that their business resides on. They have a large amount of equity built up in their property, and at times require flexible underwriting guidelines. Q. Does Ocean Capital verify income for its borrowers in its approval process? A. Ocean Capital remains flexible when analyzing borrower tax returns. Ocean Capital requires tax returns for documentation purposes, but does not rely solely on them when qualifying a borrower. Q. How do brokers get compensation from Ocean Capital? A. Ocean Capital pays brokers 1 YSP on the back end, and the brokers are free to charge additional fees up front to the borrower. Brokers meeting volume threshold with Ocean Capital are eligible for preferential pricing. Q. Does Ocean Capital finance environmentally riskier properties like gas stations, auto repair shops, and laundromats? A. Ocean Capital has a niche in lending to properties such as gas stations, auto repair shops, and laundromats. As long as Ocean Capital is aware of the environmental risk the property poses, our environmental experts are willing to work with borrowers to come up with a business solution to the problem. Q. How do I know if a client qualifies for an SBA loan? A. Your client must own the commercial real estate and operate his business at that location. If there is more than one unit in the property, the borrower must operate in at least 51% of the total square footage of the building. Q. How do I know if my client qualifies for a USDA loan? A. Clients may qualify for a USDA loan if they own a commercial property that is used for business purposes, which is located in a rural community. A rural community is typically defined by the USDA’s Rural Housing Service as an open-country area or rural town with no more than 50,000 in population. Q. What are the benefits of USDA loans or SBA loans versus conventional financing? A. USDA and SBA loan guidelines allow for longer terms than conventional financing, which reduces a borrower’s monthly payments. The loans are fully amortized and do not have balloon payments. They also have lower debt-service coverage requirements and the requirement for ‘years in business’ is shorter. Q. What are the interest rates associated with commercial loans? A. Rates vary according to the project and individual circumstance. Ocean Capital’s rates are very competitive. To see our current rates, go to the Loan Matrix. Q. What are the terms available? A. It will depend on the program. SBA loans range from 7 to 25 years, depending on the use of funds. USDA loans generally range from 10 to 30 years. Q. What can my client use the funds for? A. Clients can use the loan proceeds for purposes such as refinancing (both mortgage and other debt), working capital, equipment purchases, purchasing an existing location and building improvements. Q. How long does the commercial loan process take? A. It depends on the program used. The average length of time for a commercial loan transaction is 45-60 days. Q. Where do you do business? A.We enjoy preferred lender status nationwide. Q. How do I get started with you? A. Just pick up the phone or send us an email. One of our commercial mortgage specialists will walk you through our quick one-step process. We will have your deal pre-approved in less than 24 hours. It’s that easy! Contact us today.