We offer commercial mortgages on real estate, both improved and unimproved, to fit your business needs. With our ability to deliver quick lending decisions, we will not delay your real estate acquisition or refinancing transaction. Our real estate lenders have the strong industry knowledge and market expertise to structure a loan that best meets your needs.
We offer commercial mortgages customized to meet your business needs. With our ability to deliver quick lending decisions, we will not delay your real estate acquisition or refinancing transaction. Additionally, we finance both investment and owner-occupied real estate.
We offer commercial mortgages on investment property. With our ability to deliver quick lending decisions, we will not delay your real estate acquisition or refinancing transaction. Flexible repayment options are available, especially to help with a seasonal environment.
We offer lines of credit designed to fund short term working capital needs, seasonal purchases, inventory, and receivables. We work closely with you to understand the unique cash flow cycle of your business and help determine the best fit.
We offer letters of credit to businesses that need a surety or performance bond. Bank of Ocean City will work with you to structure a letter of credit to meet your company’s specific needs.
We offer construction loans that fit your development needs. Whether it be a simple construction loan or a land acquisition/redevelopment project, Bank of Ocean City has the loan to fit your needs.
We offer equipment financing and can offer flexible repayment options. By financing, your working capital remains available for other business opportunities. Match the term to the life of your asset, and your repayment schedule can be structured to fit your cash flow.
Bank of Ocean City understands the seasonal environment of a resort town and its communities. We offer flexible lending products that accommodate nontraditional repayment terms for businesses that do not enjoy steady year round cash flow. Let Bank of Ocean City create a custom loan to fit your business needs and cash flow.
Starting the Business Lending Process
It’s important to work with an experienced, local banker who you can work with you throughout the loan process. As a community bank, our loan officers are here to help your business succeed and assist you every step of the way. The success of your business is a priority at Bank of Ocean City!
Here is a list of items that will be needed to get the loan process started:
For your security, do not send these documents to us through regular email. Please use a secure email service.
We have received hundreds of calls regarding the Paycheck Protection Program (PPP) of the CARES Act that was recently passed by Congress. Bank of Ocean City is making every effort to participate in the program and working diligently to get processes in place to handle the large volume of requests expected from our existing customers.
We are now an approved lender, but with limited access to the SBA programs needed to process the applications. Please keep in mind that the banking industry is being asked to carry out a government program. The government has provided very limited guidance on the program and no funding to assist banks with the program. Despite these hurdles, Bank of Ocean City is committed to helping every customer, to the best of our abilities.
We cannot guarantee we will be able to assist every customer before the money for the program runs out. This is a heavy burden for us to carry.
Below are the program details, application, document checklist and sample spreadsheet.
Click Here for an Overview of the Paycheck Protection Program
Click Here for the Paycheck Protection Program Application
Click Here for the Paycheck Protection Program Check List
Click Here for a Paycheck Protection Program Loan Amount Calculation Spreadsheet
We are committed to ensuring the safety of your financial information and would like to remind you that confidential information should not be included when communicating via e-mail. If your intent is to return the completed Paycheck Protection Program packet by email please contact your Business Banker prior to doing so. We will initiate a secure email to you which should be used for your reply in attaching the completed packet.
We will process the applications as quickly as possible and to the best of our abilities. Thank you for your patience and understanding as we have worked our way through this difficult situation.