State Small Business Credit Initiative (SSBCI)
Take advantage of SSBCI’s resources today and unlock the potential for growth and prosperity that your business deserves.
Welcome to the State Small Business Credit Initiative (SSBCI) Program, a game-changer for small businesses in America. Thanks to the reauthorization and expansion under the American Rescue Plan Act of 2021, SSBCI now offers a combined $10 billion in credit and investment programs for both existing small businesses and start-ups.
If you’re looking for financial support to grow your business, look no further. SSBCI has a range of loan and investment programs tailored to meet your specific needs. Whether you’re an established business or just starting out, we have options that can help fuel your success.
The following programs are currently available for SSBCI in Rhode Island:
Under SSBCI, we offer the below programs that are designed to provide much-needed capital for small businesses across various industries:
- Venture Capital Program (“VCP”) Allocation
- Loan Participation Program (“LPP”) Allocation
Each program is designed with your success in mind, offering flexible terms, competitive interest rates, and expert guidance to help you navigate the funding process smoothly.
SSBCI Partner Contacts
Venture Capital Program
| Parter | Contact Name | Phone | Website | Allocation | |
|---|---|---|---|---|---|
| Slater Technology Fund | Thorne Sparkman | thorne@slaterfund.com | (401) 831-6633 | https://slaterfund.com | $12,000,000 |
| Actaris Impact Investors | Patrick Mullen | info@arctaris.com | (617) 735-6000 | https://www.arctaris.com | $9,000,000 |
| Collide Capital, LLC | Aaron Samuels | general@collidecap.com | (401) 529-1197 | https://www.collidecap.com | $4,500,000 |
| Rogue Venture Partners | Tom Sperry | ideas@roguevp.com | (414) 501-4635 | https://roguevp.com | $4,500,000 |
Loan Participation Program
| Parter | Contact Name | Phone | Website | Allocation | |
|---|---|---|---|---|---|
| Mill Cities Community Investments | Glynn Lloyd | office@mccinvest.org | (978) 258-2772 | https://www.mccinvest.org | $6,000,000 |
| Business Development Company of Rhode Island | Peter Dorsey | (401) 351-3036 | https://www.bdcri.com/contact/ | $3,380,000 | |
| Southeastern Economic Development Corporation | Susan Murray | (508) 822-1020 | https://seedcorp.com/get-started | $4,500,000 | |
| Rhode Island Capital Corporation | Nancy Gibeau | (508) 254-7891 | https://ricapitalcorp.com/programs/state-small-business-credit-initiative-ssbci-loan-participation-program-from-ri-capital/ | $13,000,000 |
