NEW: 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 $10,000-25,000 are available, with the business needing to create or retain at least one full time job. 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.
Updated 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 a maximum of 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, you must have been in business for three years and must have employees.
Call us at 401-680-8412 we are ready to assist you!
Email Tom Hoagland
Para español, llámenos al 401-680-8081, ¡estamos listos para ayudarlo! Correo electrónico: vregino@providenceri.gov
We help grow businesses.
Let us help you!
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
Creating jobs and growing our local economy is amongst our highest priorities. Our waterfront, highways, rail lines and international airport provide a gateway to the rest of the world.
Our universities and research hospitals draw world-class talent and human capital to our city, and our neighborhoods are anchored by vibrant business districts that make us unique and diverse.
With all of these assets, Providence’s best days are ahead.
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 target specific neighborhoods, incentivize new businesses, and provide a wider range of workforce and technical assistance.
Our Team
Tom has more than 30 years of Commercial Lending experience, having been a senior lending officer with banks in Chicago and Providence.
Nicole Pollock 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.
Board of Directors
Nicole Pollock, ChairpersonSteven DelSesto, Esq
Doris Blanchard , Vice Chairperson
Jessica Athens
John Bentz
Allyson Cote
Daniel Murphy, Secretary
Peter Quattromani
David Piccerelli