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Small Business Assistance Program
Rhode Island Commerce’s Small Business Assistance Program (SBAP) helps entrepreneurs and small businesses that are having difficulty obtaining adequate credit from traditional lending organizations. The program focuses on women- and minority-owned enterprises, as well as those in Rhode Island’s underserved communities.
The program partners with the following organizations to provide direct loans to businesses.
Partners for direct loans at or above $25,000:
- Business Development Company of Rhode Island: Peter Dorsey, 401-351-3036
- South Eastern Economic Development (SEED) Corporation: Angela Laperriere, 508-822-1020, ext. 312
- Community Investment Corporation: Buck Harris, 401-406-7282, ext. 128
Partners for direct micro-loans between $2,000 and $25,000:
- Social Enterprise Greenhouse: Stefanie Engelhardt, 401-383-3760
- Community Investment Corporation: Buck Harris, 401-406-7282, ext. 128
- Rhode Island Black Business Association (RIBBA): Lisa Ranglin, 401-383-1179
Rhode Island Capital Access Program For $1,000- $750,000:
The program encourages banks and credit unions to make slightly riskier loans by providing matching funds from the state to create cash collateral accounts. Rhode Island Capital Corporation, which administers the program, also offers a full suite of business lines of credit, SBA loans, term loans and mezzanine investment from $50,000 to $5 million.
- Carol Brennan, 401-450-0047
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