Providence Business Loan Fund (Small Business Loan Program)

Providence Business Loan Fund (Small Business Loan Program) is sponsored by City of Providence. This program provides financing to existing businesses in the City of Providence that create or retain jobs, with a requirement of at least one new full-time job benefiting a low-to-moderate income individual for every $35,000 loaned.

Providence Business Loan Fund - Providence Business Loan Fund Skip To Accessibility Options Micro-Enterprise Loan Program The PBLF Microenterprise Loan Program offers low-cost financing to for-profit microenterprises in Providence that have been operational for at least two years. Funds can be used for working capital, inventory, and equipment, with loan amounts ranging from $5,000 to $50,000.

Eligible businesses must be located and registered in Providence, have five (5) or fewer employees (including the owner), and be owned by a Providence resident who qualifies as a low- to moderate-income household. Sole proprietorships are eligible. Loan terms range from 5 to 10 years, with interest rates between 2% and 5%, a 0.

5% closing fee, and a $500 legal fee. Fill out the application today! For more information, please review the FAQ .

Descargar formulario de solicitud Call us at 401-680-8412 or email Tom Hoagland . We are ready to assist you! Para español, llámenos al Ernesto Figueroa 401-680-8416.

¡Estamos listos para ayudarlo! *Correo electrónico en español: JC Gadreault o Evelyn Alcantara Small Business Loan Program We offer secured loans from $50,000 to $500,000 The PBLF Small Business Loan Program provides financing to existing businesses in the City of Providence that create or retain jobs.

For every $35,000 loaned, PBLF requires the creation of at least one new full-time job that benefits a low-to-moderate income individual. This citywide loan program can be used to expand your business through equipment purchases, space construction or rehabilitation, property acquisition, or working capital. The program is open to both for-profits and non-profits; however, for non-profits, funding is limited to property acquisition.

Loan terms range from 5 to 10 years, with an amortization period of 7 to 25 years, an interest rate of 3% to 5%, and a 1% origination fee. Fill out the application today! For more information, please review the FAQ .

Call us at 401-680-8412 or email Tom Hoagland . We are ready to assist you! Para español, llámenos al Ernesto Figueroa 401-680-8416.

¡Estamos listos para ayudarlo! *Correo electrónico en español: JC Gadreault o Evelyn Alcantara Access to capital is critical to the success of a business, which is why the Providence Business Loan Fund (PBLF) stands ready to meet your business needs with a wide range of flexible loans and financing options. Providence is a great place to start your company.

Our extraordinary quality of life, highly skilled labor pool, proximity to rail, water, air and highway, outstanding educational institutions, world-class arts and theatre, and close access to international marketplaces make this an attractive place to call home. Through this program, PBLF offers loans that accommodate specific neighborhoods, incentivize new businesses, and provide a wider range of workforce and technical assistance.

Tom has more than 30 years of Commercial Lending experience, having been a senior lending officer with banks in Chicago and Providence. Courtney is a leader in the field of government innovation with experience in state, city, and non-profit organizational leadership. Doris is an accomplished economic development, public affairs, and community relations professional.

Tom has more than 30 years of Commercial Lending experience, having been a senior lending officer with banks in Chicago and Providence. He has owned and operated a small business. Tom joined PBLF in 2012 as a consultant for loan underwriting and was named Director in 2015 and named Executive Director in 2019.

Hawkins started her career in New York City where she implemented non-profit programs to support kids and families to make economic progress. This included starting successful small schools, designing programs for youth aging out of foster care, implementing new initiatives targeting disconnected youth and running the city’s welfare to work and unemployment centers in the Bronx and Manhattan.

The Rhode Island native returned to RI as the first executive director of Providence Talks, a successful program, funded by Bloomberg Philanthropies, designed to reduce language development gaps in low-income children. Providence Mayor Jorge Elorza later made her his Policy Director.

Doris is an accomplished economic development, public affairs, and community relations professional with experience in multicultural social marketing, coalition building, business planning, nonprofit management, and public policy. Director of Economic Development Director Thomas’ 20-year career is detailed with high-level project management, workforce development, and economic crisis intervention experiences.

As Federal Disaster Recovery Officer (FDRO) for FEMA, Thomas led long-term recovery efforts for Northeastern states battling the economic impacts of COVID-19, also working to develop economic development plans for other communities such as the State of Queensland in Australia, the City of Calgary and the Capital Region in Louisiana.

As FDRO they also worked with the Connecticut Department of Housing to develop a new model of wraparound services for shelters, helping people attain the resources necessary to break cycles of homelessness.

Thomas also led innovative workforce development projects in communities across the country, supporting tribes in Maine in starting aquaculture projects, and identifying opportunities to develop outdoor recreation and artisanal manufacturing in Vermont. Cassandra is excited to join the Smiley Administration and to work with so many talented and dedicated professionals that are focused on building that brighter future for this city.

In their capacity as Director of Economic Development, Thomas will also help inform and drive the City’s planning, redevelopment and arts, culture and tourism strategy Courtney Hawkins, Chairperson Doris Blanchard , Vice Chairperson