Ocean Drive Funding understands that not every business want to pay back the funds they were given in a short period of time with a more aggressive rate and fee on the return.  With that in mind we have partnered with three top national banking institutions that can provide Small Business SBA Loans on 10 year terms.

With Ocean Drive Funding’s partnerships, a small business is able to fund a large cash flow insertion within a few days of application and get excellent interest rates and fixed monthly payments for the entire term.

On average, Small Business SBA Loans have a variable rate of Prime Rate plus 2.75% to 4.75%.

Due to the nature of the industry you are in and some other statistics, your company’s fixed monthly payment, fees and Annual Percentage Rate (APR) are estimates and may vary.


APR includes all required fees whereas interest rate does not. Fees in APR calculation are referral, packaging and guarantee fees as well as estimated closing costs.  Due to the fact that the funds are being provided by a national FDIC banking institution, closing costs include standard bank fees, additional 3rd party report charges, and some other processing and risk management fees may apply.

A great benefit is that unlike some loans, Small Business SBA Loans can be paid off at any time with no prepayment penalty. Apply Now and see if you are qualified for a loan and let Ocean Drive Funding take over and provide you with working capital.

Ocean Drive Funding, Money Made Easy.

Lightening Fast Approval Process!

Ocean Drive Funding is designed to make it easier for businesses to obtain the affordable funding they need. Most banks won’t lend $100,000 to a small business because it’s simply too costly to process the application (their processes aren’t automated like ours). Besides, who wants the 3 months of back and forth paperwork!

SBA Loan Merchant Cash Advance from CC Processing Receivables Alternative Bank Loan, Non-Bank Loan and Cash Advance
APR* (including fees) Less than 7% Typically 10% to 50% Typically 25% to 45% (with fees can be slightly higher)
Payments for $100k loan $1,200 per month for 120 months (can be paid off early with no fee.) Typically about $10,000 per month for 12 months. (funds pulled from CC processing receivables daily.) Typically about $12,000 per month for 12 months (requires daily ACH repayment 21 days per month.)
Term 120 months 3 to 36 months (Average 9 – 12 months) 3 to 24 months (Average 9 – 12 months)
Application Easy Easy Easy
Documentation Medium/High Low/Medium Low (Very Simple to Fund)
Funding As fast as 7 days though timing depends on size of loan Typically 1-2 days Typically 1-2 days
Collateral No collateral $25,000 and less. UCC lien required for more than $25,000. Personal guarantee required. May require collateral or personal guarantee. Monthly or daily debit from checking or daily debit from credit card receipts. No personal guarantee.

* Annual Percentage Rate (APR) includes fees whereas interest rate does not. Fees included in Ocean Drive Funding APR calculations are: referral, packaging, and guarantee fees as well as estimated bank closing costs excluding 3rd party fees.

Information Needed to Apply for a Ocean Drive Funding SBA Loan

A variety of information and documents are needed to complete the application process and are summarized below. The documentation required varies depending on the size of your loan request. In general, larger loans require more documentation.  Merchant Cash Advance and Business Capital Funding require far less documentation.

Personal Information

  • names of owners and ownership percentages
  • contact details
  • birthdate
  • social security number
  • valid driver’s license or passport information
  • personal financial information
  • past tax returns
  • personal credit report

Business Information

  • business name and contact details
  • type of business
  • date of inception
  • tax identification number
  • previous government loan history
  • management team information
  • business financial information
  • formation and other business documentation
  • past tax returns
  • business credit report

SBA Loan Brief

Loan size $5,000 to $350,000.
Interest rate 6% (prime rate* plus 2.75%) for loans $50,000 – $350,000.

7% (prime rate* plus 3.75%) for loans $26,000 – $49,000.

8% (prime rate* plus 4.75%) for loans $5,000 – $25,000.

Term 10 years with no pre-payment penalty.
Payment Monthly payments, debited from business checking account.
Collateral Loans of $25,000 and less do not require any collateral.

Loans over $25,000 require a UCC lien on business assets such as inventory, accounts receivable, and equipment.

Business assets do not need to equal the loan amount.

Additional collateral may be required depending on how funds will be used.

Personal Guarantee Personal guarantee required from all individuals owning 20% or more of business
Timing Apply in minutes; loans fund as fast as 7 days after the application is complete, though timing depends on the size of loan.
Fees Referral and packaging fees: 4% of the loan amount.

Guarantee fee (paid to the SBA): zero for loans $150,000 and less; 2.25% of the loan amount for loans $151,000 and higher.

Estimated closing costs: $317 for loans $26,000 or more; $23 for loans $25,000 or less. Closing costs include standard bank fees, additional 3rd party report charges may apply.

Typical businesses In business 24 months or longer.

Product, service, manufacturing, retail, medical, contractor, among many others.

$50,000 to $5,000,000 in annual revenue with cash flows to support loan payment.

1 to 20 employees.

Use of proceeds $5,000 – $25,000 loans can be used for working capital (such as marketing, hiring, purchasing equipment, inventory, etc.).

$26,000 – $150,000 loans can be used for working capital, business acquisition, and to refinance existing business debt not secured by real estate (such as cash advances, business credit cards, and equipment leases).

$151,000 – $250,000 loans can be used for working capital, to refinance all existing business debt including debt secured by real estate, to purchase real estate, and for business acquisition (businesses must occupy 51% of the premises if loan used for real estate refinance or purchase).

$251,000 – $350,000 loans can be used for working capital, to refinance existing business debt not secured by real estate, and for business acquisition.

How much do you need to make things happen?