Commerical Lender working on paperwork with client.

Brokers Overview

Your Business Lender

We are a member of the Preferred Lender Program with the SBA. Preferred lenders can use a streamlined paperwork process with delegated authority to approve loans, which expedites the loan approval process for small business owners and delegates the final credit decisions to these lenders. Shoreham Bank is proud of the broker relationships we develop and have maintained. As an SBA and USDA loan specialist, we are the source for commercial lending. 

Refer a deal online or call us today, (401) 773-9509.


Our Program


  • SBA 7(a) & USDA OneRD
  • Up to 85% Financing
  • Minimum Credit Score of 650
  • Loans up to $5 Million
  • Flexible Underwriting
  • Streamlined Process

What We Finance


  • Hospitality Industry
  • Medical Businesses
  • Service Industries
  • Funeral Homes
  • Gas Stations
  • Convenience Stores
  • Other Industries Available










































Loan to Finance Hotel 

$2.52 Million 

4% Broker Referral 

Loan to Finance Car Wash 

$3.54 Million 

3% Broker Referral 

Loan to Finance Liquor Store 

$1.226 Million 

2% Broker Referral 












Our 3-2-1 Referral Program

Earn up to 3% by qualifying a loan

Criteria Tier A Tier B Tier C
Referral Payout 3% 2% 1%
Blended FICO Score1 650+ 650+ ≥ 620
Rate WSJ Prime + 2.75% to 3.00%, Adjustable WSJ Prime + 2.00% to 3.00%, Adjustable WSJ Prime + 1.00% to 3.00%, Adjustable
DSCR ≥ 1.25x ≥ 1.25x ≥ 1.25x
LTV 80-85% 80-85% 80-85%
Loan Term2 22+ Years 15+ Years 10+ Years
Loan Size Up to $5,000,000 Up to $5,000,000 $50,000 - $5,000,000
Loan Program3 SBA 7(a) or USDA B&I SBA 7(a) or USDA B&I SBA 7(a) or USDA B&I

Our Preferred Broker Program4

Earn up to an additional 1%

 
Program Level Requirements Referral Bonus
Level 1  $2.5 Million in Loan Referral Dollars 1/2 Point Adder
Level 2 $5 Million in Loan Referral dollars with at least 2 deals referred 1 Point adder

We will guarantee an initial review turn time of two business days (issue needs list, letter of intent or decline), subject to receipt of full package as detailed in Shoreham Bank Application Package + current business bank statement. No construction. If proceeds are to finance an environmentally adverse property type, a finalized Phase I with no recommended action (or additional reports, if applicable) will be required in accordance with SBA SOP 50 10 8 Appendix 6 "NAICS Codes of Environmentally Sensitive Industries," prior to any credit review.


OR

Get in touch with one of our experienced team members to learn more today!

 

1 If multiple borrowers/guarantors, determined by weighted average based on ownership percentage.

2 USDA loans must have a prepayment penalty of at least 5 years to be eligible for a 3% referral.

3 All loans will be SBA 7(a) or USDA B&I Program Guaranteed, and therefore, must be compliant with eligibility requirements of SBA SOP 50 10 8.1 or USDA Part 5001.
 
4 Additional payout is added to the 3-2-1 referral amount. All loans must have commitment letters by 10/31/2026 and fund by 12/31/2026. Brokers who qualify for the program will be enrolled in the Preferred program until 12/31/2026. Brokers will be eligible for the increased payout on the subsequent deal. Only deals funded in 2026 are credited towards the 2026 Preferred Broker Program. Deals that are paid an increased payout through the 2026 Preferred Broker Program are not credited towards the 2026 Preferred Broker Program.

Offer expires December 31, 2026 and is subject to credit approval.
Deals are structured based on the borrower's qualifications. Referral fees are calculated accordingly.