Micro-Enterprise Loan Program

The PBLF Micro-Enterprise loan program is designed to provide low-cost financing to Providence small businesses. Funds may be used for working capital, inventory, and non-permanent equipment. Loans from $10,000 to $25,000 are available for businesses that retain at least one full time employee. Businesses must be located and registered in Providence and have ten (10) or fewer employees. Loan terms are from 5-10 years with 3% interest, with a 0.5% origination fee and 0.5% closing fee. Fill out the pre-application form to see if you qualify!

Resources in Response to COVID-19

In response to the impacts of COVID-19 on the Providence small business community, the Providence Business Loan Fund has announced temporary modifications to the Fund to provide access to capital for eligible small businesses and immediate relief for existing borrowers with flexible interest rates up to 5%.

In addition to our standard loan program, we are offering emergency loans of $10,000 to $100,000, payable over 5-7 years with zero interest and no payments for 6 months to assist Providence Businesses affected by COVID-19. To be eligible, your business must be established for three years and must have at least one full-time employee.

 

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


Para español, llámenos al 401-680-8081, ¡estamos listos para ayudarlo! Correo electrónico: Victor Regino


We offer – Secured Loans $50,000 to $500,000

Terms
All loans must be adequately collateralized. There must be one full-time employee job created per $35,000 loaned.
Who can apply?
Individual owners, tenants, partnerships or corporations may apply.
Commercial and Industrial applicants
Applicants must meet HUD’s Community Development Block Grant national objectives.
Where ?
Business must be located in Providence.
PreApproval
Contact us to see if you qualify.
How Long?
Flexible loan schedules are available.

 

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.

 

Our Team


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.

Nicole Pollock, Chairperson

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

Doris Blanchard, Vice-Chairperson

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

 


Board of Directors

Nicole Pollock, Chairperson
Steven DelSesto, Esq
Doris Blanchard , Vice Chairperson
Keith Stokes
Allyson Cote
Daniel Murphy, Secretary
Peter Quattromani
David Piccerelli

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