Business Lending Options
Explore our business lending options designed to support your growth and day-to-day operations. We work with you to find the right financing solution, with competitive terms that fit your business needs.
Commercial Real Estate
What Types Of Real Estate Are Covered Under Commercial Lending?
- Owner Occupied Commercial and Industrial
- Investment Real Estate
- Multi- Unit and Mixed-Use Investment Properties
- Apartment Complexes
- Medical Buildings
Term Loans
Fixed term lending with competitive rates and flexible terms.
What Can I Use Term Loans For?
- Equipment
- Machinery
- Commercial Vehicles – single or fleet
- Leasehold Improvements & More
Lines of Credit
What types of credit lines can I open?
Short-Term Working Capital Needs
- Short-Term Working Capital Needs
- Seasonal Cash Flow Support
Commercial Lending Team
Director of Commercial Lending
Megan Johnson
1584 Nooseneck Hilld Road, Coventry, RI 02816
Business Relationship Manager
Michael Freeman
1584 Nooseneck Hilld Road, Coventry, RI 02816
We at OSCU strive to make the construction process as stress free and efficient as possible. Our Construction Loan offers a competitive adjustable rate. During the first year of your 30 year Construction Loan the payments are “interest only” payments, and they are only on the amount of the funds that are disbursed for the construction. For the remaining 29 years (once the construction has been completed) payments will consist of both principle and interest.
We will lend up to 80% of the appraised value of the land plus construction costs. The appraisal is completed prior to the construction and is based on the plans, specifications and land value. OSCU Construction Loans are specifically for the new construction of owner occupied or second homes.
Ocean State Credit Union NMLS 408223
For a list of Ocean State Credit Union employees currently licensed with a NMLS#, visit the NMLS Consumer Access website or feel free to contact us.