Access to Capital
RI Small Business Administration (SBA)
SBA provides the following programs for financing business endeavors:
7(a) Loan Program
If you are awarded a 7(a) loan, the loan proceeds may be used to establish a new business or to assist in the acquisition, operation, or expansion of an existing business.
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504 Loan Program
The SBA 504 Loan program is a powerful economic development loan program that offers small businesses another avenue for business financing, while promoting business growth, and job creation. As of February 15, 2012, the $50 Billion in 504 loans has created over 2 million jobs. This program is a proven success and win-win-win for the small business, the community and participating lenders.
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Microloan Program
The Microloan Program provides small, short-term loans to small business concerns and certain types of not-for-profit child-care centers. The SBA makes funds available to specially designated intermediary lenders, which are nonprofit community-based organizations with experience in lending as well as management and technical assistance. These intermediaries make loans to eligible borrowers. The maximum loan amount is $50,000, but the average microloan is about $13,000.
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Accion
Accion offers business loans up to $50,000 and financial education throughout the United States. Since 1991, we have specialized in working with small business owners who cannot borrow from the bank due to business type, a short length of time in business, or an insufficient credit history.
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Admirals Bank
Small Business Loans Admirals Bank understands the importance of choosing the right lender to support your business. We will work closely with you to identify your needs and to secure a lending solution that is right for you.
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Bank of America - Rhode Island
Patriot Express SBA loans are available to applicants who qualify for SBA, own more than 51% of the business and are either:
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Bank Rhode Island
Looking for a line of credit to manage your everyday cash flow or a term loan to expand your business? The credit solutions you need are right here at Bank Rhode Island. With a dedicated team of bankers in your neighborhood, we can deliver fast, affordable financing right to your door.
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Bristol County Savings Bank
As a participating Small Business Administration (SBA) lender, we work to provide your business with viable alternatives to traditional business financing. Please contact us to speak directly with one of our lenders.
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The Business Development Company
The Business Development Company operates outside the traditional lending box. Whether it's a term loan, SBA loan, a line of credit or a bridge loan, we help companies grow and expand when their funding requirements exceed available bank debt and equity.
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Centreville Bank
Please call Mr. Walter F. Richardson, IV at 821-9100 ext. 248, to discuss products and available rates.
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Citizens Bank
Whether you’re doing business around the globe or around the corner, our customized solutions will help you succeed. Grow with customized solutions from one of the nation’s largest banks. Work one-on-one with a Relationship Manager dedicated to your business. Drive your business with the latest technologies.
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Coastway Community Bank
Coastway is a local business too, and we understand the time, energy and attention it takes to keep a business afloat in this challenging economy. Our approach is to assign you a business banker who listens to the demands you face, and helps you create cohesive, "big picture" solutions for your business.
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CR Advisors
CR Advisors is a financial intermediary providing commercial loan underwriting, commercial loan portfolio services, and commercial lending support services to financial institutions throughout the United States. Our specialized knowledge of commercial and investment lending, asset based lending and lending under the US Small Business Administration (SBA) loan programs provide our clients access to new areas of growth for their institutions.
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Dexter Credit Union
Equipment doesn’t last forever. We can provide flexible term loans to help you replace old or obsolete equipment, or to purchase equipment to expand your capabilities.
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Digital Credit Union
DCU is a SBA lender. However, we are limited to the geographical areas we can lend in. Currently, we are only able to lend in Massachusetts, New Hampshire, and Rhode Island.
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Flagstar Bank
Business Loans: Available for purchase or refinance; Collateral can be business assets, specific business equipment, or business vehicle;Maturity is typically one to five years.
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Greenwood Credit Union
Greenwood Credit Union can tailor small-business loans to meet your specific needs. Small-business financing Equipment loans Revolving lines of credit SBA-guaranteed loans Owner-/non-owner-occupied commercial mortgage loans.
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Independence Bank
Whether you’re just starting out or looking to expand, Independence Bank is a strong supporter for small business owners in our community. We believe that small businesses and the revolutionaries who start and operate them are the backbone of America.
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J.P. Morgan Chase Bank
SBA 7(a) and SBA Express loans can provide funds for a variety of business purposes. Proceeds can be used to fund equipment purchases, business acquisitions or expansion, finance permanent working capital or purchase real estate.
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Navigant Credit Union
We partner with such programs as SCORE, the RI Small Business Development Center at J&W University, and other technical assistance providers throughout RI.
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Ocean Capital
Ocean Capital is a nationwide small business lender that offers financing to borrowers through government guaranteed SBA loans and USDA loans. As a division of a Federal Savings Bank with over $200 million in assets, Ocean Capital has been providing business loans and financing since 1981. We specialize in small-balance commercial loans ranging from $250,000 to $5,000,000, and offer a variety of programs to accommodate most small business owner borrowing needs.
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Ocean State Business Development Authority
The government uses Ocean State Business Development Authority, based in Providence, Rhode Island, to help small companies secure low-rate business loans to grow the regional economy.
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Pawtucket Credit Union
SBA Guaranteed Loans available. Ask for details.
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People’s Credit Union
Every business is different, but every business journey starts with a common goal to succeed. People's Credit Union offers personal service for your individual business profile and is a one-stop resource for your financial service needs.
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Rhode Island Economic Development Center
RIEDC offers financing programs for businesses in all phases of development. From small business loans to expansion financing, RIEDC can assemble a complete financial package to meet your business needs. RIEDC also serves as a clearing house for special business and tax incentives available through the state, streamlining your access to all of the benefits available to companies locating or expanding in Rhode Island.
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Rockland Trust
Growing a small business takes vision, dedication and plain old hard work. Sometimes it takes a little money, too. Money to buy new equipment. Purchase more inventory. Expand or remodel. Add to your payroll. Or add another location.
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Salem Five
No lending institution is more committed to the local business community than Salem Five. As an SBA Preferred Lender, Salem Five streamlines the application and approval process, so your SBA loan is processed faster and more efficiently. In fact, when you apply at Salem Five for an SBA 7(a) loan, you'll have an answer on your approval within 36 hours. We give your business the attention it needs to grow and prosper.
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SEED Corporation
SEED Corporation is a non-profit organization certified by the U.S. Small Business Administration (SBA) and designated as an Intermediary under the SBA's Microloan Program. This program is designed to provide loans to new and existing business owners in amounts up to $50,000.
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The Slater Technology Fund
The Slater Entrepreneurial Fellows program is a joint initiative between the Slater Technology Fund and the National Science Foundation’s Rhode Island Experimental Program to Stimulate Competitive Research (R.I. EPSCoR) designed to encourage entrepreneurship in emerging technology industries in Rhode Island. The program funds up to six internships per semester and works to engage graduate and upper-class undergraduate students at the state’s universities in the venture development process.
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Sovereign Bank
s a Preferred Lender with the U.S. Small Business Administration, we can approve certain loans that might not qualify through conventional lending channels. We also participate in the SBAExpress program, which reduces application forms and streamlines the process for faster turnaround.
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TD Bank RI
Offers loans and lines of credit for all types of businesses. TD Bank RI has all the additional products needed to service your entire business relationship.
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U.S. Bank National Association
Small Business Administration Loans - Proud to be one of the Premier SBA Lenders As part of our commitment to the growth of small businesses nationwide, U.S. Bank is a leading participant in the lending programs of the U.S. Small Business Administration (SBA).
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Washington Trust
Washington Trust's commitment to helping small businesses start up, prosper, and grow is reflected in our designation as a Small Business Administration (SBA) preferred lender. Contact us about customized solutions for small business lending.
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Webster Bank
You have an exciting business opportunity, but do you have the funding? Conventional commercial loans may be the answer, but they can have requirements that are difficult to meet. To help you reach your goal, Webster offers a new and different type of small business loan.
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