Ocean Bank in Miami ranked as top SBA producer in South Florida region

MIAMI - Nov. 17, 2021 - PRLog -- Ocean Bank announced it is ranked as the top SBA 504 program producer in the South Florida region in the fiscal year ending Sept. 30, 2021, with 40 approved loans totaling $18.9 million.

Ocean Bank also is ranked in the top 25 SBA 504 producers nationwide among all 1,859 participating banks.

"The SBA designation is especially significant since small business is the backbone of the South Florida economy," said Senior Vice President Anelu Moreira who was appointed in 2020 to head the SBA lending unit. "Ocean Bank is proud to serve this important segment of our community.

"Ocean Bank is now also processing SBA 7(a) small business loans to help small businesses that can't qualify for conventional commercial loans, with SBA guarantees of up to 85% of the loan," she said.

In addition to the SBA program, Ocean Bank made more than 100 small business commercial loans totaling $23.3 million from January to October of this year.

The SBA 504 program provides long-term, fixed-rate loans to small businesses at below-market interest rates.  The loans of up to $5 million are specifically for the purchase of owner-occupied commercial real estate or large equipment.

ABOUT OCEAN BANK

Ocean Bank is the largest independent, state-chartered commercial bank headquartered in Florida, with $5.0 billion in assets. Chartered in 1982, Ocean Bank operates its network of 23 branches throughout Miami-Dade and Broward counties. The community bank has received numerous awards and accolades from the Greater Miami Chamber of Commerce, The Beacon Council and the Florida Department of Education, among others, for its support of our South Florida communities. For more information, log on to www.oceanbank.com.