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Providence Business Loan Fund

Providence Business Loan Fund

THROUGH THE PROVIDENCE BUSINESS LOAN FUND, WE’RE INVESTING IN BUSINESSES OF ALL TYPES AND SIZES TO HELP GROW OUR WORKFORCE BY CREATING BETTER OPPORTUNITIES FOR ALL OF OUR RESIDENTS.

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.

Download the Application
Descargar formulario de solicitud

Call us at 401-680-8412 or email Tom Hoagland. We are ready to assist you!

Para español, llámenos al 401-680-8422 o 401-660-8531. ¡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.

Download the Application

Call us at 401-680-8412 or email Tom Hoagland. We are ready to assist you!

Para español, llámenos al 401-680-8422 o 401-660-8531. ¡Estamos listos para ayudarlo!

*Correo electrónico en español: JC Gadreault o Evelyn Alcantara

About Us

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.

People working on securing a loan

Our Team

Tom Hoagland

Tom Hoagland
Executive Director

Tom has more than 30 years of Commercial Lending experience, having been a senior lending officer with banks in Chicago and Providence.

courtney hawkins

Courtney Hawkins
Chairperson

Courtney is a leader in the field of government innovation with experience in state, city, and non-profit organizational leadership.

Doris Blanchard

Doris Blanchard
Vice-Chairperson

Doris is an accomplished economic development, public affairs, and community relations professional.

Board of Directors

  • Courtney Hawkins, Chairperson
  • Steven DelSesto, Esq
  • Doris Blanchard , Vice Chairperson
  • Allyson Cote
  • Daniel Murphy, Secretary
  • Peter Quattromani
  • David Piccerelli
  • Lawrence Mancini
  • Ted Carr