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James Tierney
1st Vice President, Commercial Lending at Ocean State Business Development (OSBDA)
Professional Background
James Tierney is a leading financial expert in the field of small business development and financing, currently serving as the 1st Vice President of Commercial Lending at Ocean State Business Development (OSBDA). As a Certified Development Company (CDC), OSBDA plays an essential role in the economic development of local communities across Rhode Island, Massachusetts, and Connecticut, primarily by offering the highly beneficial SBA 504 Program. With a focus on empowering small businesses, James utilizes his extensive experience in business development, credit analysis, underwriting, closing, and portfolio management to guide clients through the lending process.
Having initially built his career as a Credit Analyst for Commercial Lending at Coastway Community Bank, James developed a keen acumen for analyzing commercial loans, evaluating cash flow for both new and outstanding loans, assessing risk ratings, and determining eligibility for the SBA 504 Program. Through his comprehensive understanding of the borrowing landscape, James is dedicated to helping borrowers achieve their business dreams by providing financial solutions that unlock their potential.
Education and Achievements
James Tierney's academic journey commenced at Providence Country Day School, where he laid a strong foundation for his future studies in financial disciplines. He went on to earn a Bachelor of Science (B.S.) degree in Finance from Bryant University, equipping him with the necessary skills for a successful career in finance and commercial lending. He also expanded his educational background with studies at Hawaii Pacific University, further enhancing his understanding of global financial markets.
Throughout his career at OSBDA, James has made significant contributions to the SBA 504 Program, advocating for the critical role it plays in bridging the financing gap for small businesses. His conviction that the Small Business Administration (SBA) facilitates essential lending to small businesses reflects his passion for the economic well-being of local communities. By fostering access to credit solutions, James has helped countless businesses capitalize on opportunities that may have otherwise been out of reach.
Achievements
Under James's leadership, Ocean State Business Development has successfully assisted numerous entrepreneurs in acquiring commercial real estate with minimal upfront capital through the SBA 504 Program. The program not only offers long-term fixed-rate financing at competitive rates that are often below those of conventional banks but also allows qualified borrowers to secure up to 90% financing with as little as 10% down.
One of James's primary responsibilities is to conduct thorough credit analyses, using his expertise to evaluate debt service coverage and risk ratings accurately. His analytical skills ensure that borrowers receive the best possible financial solutions tailored to their unique situations. James also specializes in structuring loans to provide maximum benefits for clients, invariably streamlining the closing process and keeping legal fees low to enhance the overall borrower experience.
By mitigating interest rate risk through the fixed-rate advantage over the life of the loan, James has become instrumental in providing peace of mind to business owners, allowing them to plan their cash flows effectively and with confidence. His commitment to supporting small businesses is evident in his belief that the SBA plays a pivotal role in the economy by leveling the playing field for main street enterprises against larger corporations. James’s extensive experience and dedication to economic development not only assist businesses but also contribute to the vibrancy and growth of the local communities in which they operate.
