Small Business Loan Fund
Small businesses are the heart and soul of our nation’s and state’s economy. They comprise 99.9% of all businesses across the nation and 98.9% percent of all businesses in Rhode Island. Unfortunately, small businesses often find themselves constrained by the balance sheets or liquidity requirements of traditional bank lending parameters. At CommerceRI, we know a small business’s success can result in rapid growth and financing needs that may exceed the leverage ratios of traditional banks.
Our Small Business Loan Fund (SBLF) helps level the playing field and aims to fill the gap in financing that small and mid-sized businesses face. If your small business needs a direct, fully secured loan, the SBLF provides up to $500,000 for working capital to existing manufacturing, processing, and selected service businesses. Additionally, manufacturers seeking to finance the acquisition of land, buildings, and equipment may qualify for loans in excess of $500,000. Interest rates are fixed, repayment terms are flexible, and there’s an expectation that at least one job will be created for each $50,000 you borrow.
References
SBLF Purpose Statement
SBLF Requirements
CommerceRI Financial Services Business Profile and Eligibility Form 
General Finance Inquiries
For help with questions not related to the SBLFC, regarding general small business financing help and to find out about what options businesses have for financing in Rhode Island, contact Denise Barge, Business Assistance Advisor.