Financing Process

The loan process typically begins with a lender or business contacting OSDC to discuss the project. At this point a loan checklist and application forms will be sent to the bank or the borrower. OSDC staff will be happy to meet with the banker, borrower or both to discuss the project and answer any questions.

After receiving the required documents, OSDC prepares a loan analysis that is submitted to the OSDC board for approval. Once approved, an OSDC loan officer prepares the application package and provides the borrower with any forms that require completion and signature. The loan is then submitted to the Small Business Administration for final approval. OSDC usually receives written SBA approval in 10 business days or less.

The entire approval process takes about 30-60 days from the receipt of the completed loan checklist, depending upon the characteristics of the project.