SBA 504 Loans in Providence, RI
Find lenders offering sba 504 loans in the Providence, including Warwick, Cranston, Pawtucket, and surrounding areas. Compare rates, terms, and programs from 8 lenders.
Which SBA 504 lenders serve Providence?
8 lenders offering sba 504 loans in the Providence, RI area.
Live Oak Banking Company
SBAWILMINGTON, NC
One of the nation's top SBA 7(a) lenders, specializing in lending to small businesses across healthcare, veterinary, beverage, self-storage, and other industries. Offers SBA loans, USDA loans, conventional business loans, and commercial real estate financing.
Readycap Lending, LLC
SBABERKELEY HEIGHTS, NJ
Non-bank SBA preferred lender offering SBA 7(a) and 504 loans nationwide. Specializes in commercial real estate, business acquisition, and expansion financing for small businesses. Known for fast closings and flexible underwriting.
Wells Fargo Bank National Association
SBASioux Falls, SD
One of the largest banks in the U.S. and a major SBA preferred lender. Offers the full range of SBA programs including 7(a) and 504 loans, alongside conventional commercial lending, commercial real estate, and equipment financing.
Cadence Bank
SBATUPELO, MS
Regional bank serving the Southeast and Texas, and an active SBA preferred lender. Offers SBA 7(a) and 504 loans, commercial real estate lending, equipment financing, and full-service business banking.
New England Certified Development Corporation
SBAWakefield, MA
Wakefield, Massachusetts-based Certified Development Company providing SBA 504 loans throughout New England. Helps small businesses access affordable financing for commercial real estate and major equipment purchases.
Wells Fargo
San Francisco, CA
Top commercial real estate lender. CMBS, balance sheet, agency, and SBA lending across all property types.
Community Investment Corporation
SBAHamden, CT
South Eastern Economic Development Corporation
SBATaunton, MA
What does the Providence commercial real estate market look like?
Providence's CRE market benefits from a strategic location between Boston and New York, a concentration of prestigious universities, and a revitalized downtown anchored by the Providence Place mall and the Capital Center development district. The Knowledge District around the former I-195 relocation land has created new parcels for life sciences, technology, and institutional development, with Brown University, Johnson & Wales, and the Rhode Island School of Design generating a robust innovation economy. The Jewelry District, once the heart of American costume jewelry manufacturing, is being transformed into a mixed-use innovation hub with medical office, biotech, and residential components. Industrial demand concentrates along the Route 6 and I-295 corridors in Warwick and Cranston, where proximity to T.F. Green Airport and the Port of Providence supports logistics operations.
Key Economic Drivers
- ●Brown University, RISD, and Johnson & Wales University anchoring an eds-and-meds innovation economy
- ●I-195 Redevelopment District creating 19 acres of prime development parcels in the Knowledge District
- ●Lifespan and Care New England hospital systems driving medical office and lab space demand
- ●T.F. Green Airport and Port of Providence supporting logistics and distribution in the Warwick corridor
Market Insight
The I-195 Redevelopment District — created by relocating an elevated highway — has opened 19 acres of developable land in downtown Providence, representing one of the most significant urban infill opportunities in New England for institutional, life sciences, and mixed-use CRE projects.
How do sba 504 loans work in Providence, Rhode Island?
SBA 504 loans provide long-term, fixed-rate financing for major fixed assets like commercial real estate and heavy equipment. The loan is split between a bank (50%), a Certified Development Company (40%), and your down payment (10%), resulting in below-market rates on the CDC portion. In the Providence metro area, borrowers can access 8 lenders offering SBA 504 financing, including Warwick, Cranston, Pawtucket, and surrounding areas. Loan amounts typically range from $125K to $17M with rates from Below market (CDC portion ~5-6%).
Who should consider sba 504 loans?
- Owner-occupied commercial real estate
- Heavy equipment purchase
- Business expansion
- New construction
What are the key requirements?
- For-profit business
- Net worth under $15M
- Average net income under $5M (after taxes) for prior 2 years
- 51%+ owner occupancy
- Create or retain jobs (1 per $90,000 CDC)
Advantages
- ✓Only 10% down payment
- ✓Below-market fixed rate on CDC portion
- ✓Long terms (20-25 years for RE)
- ✓No balloon payments
Considerations
- •Must be owner-occupied (51%+ for existing, 60%+ for new construction)
- •Cannot be used for working capital
- •Longer closing timeline
- •Two closings (bank + CDC)
SBA 504 Loans in Providence FAQ
How many SBA 504 lenders serve Providence, RI? ▼
What are SBA 504 loan rates in Providence? ▼
What is a Certified Development Company (CDC)? ▼
Can I use SBA 504 for a rental property? ▼
How is the SBA 504 loan structured? ▼
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