Skip To Menu
Skip To Content
Skip To Accessibility Options
Skip To Language Options

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 is designed to provide low-cost financing to small businesses in Providence that have been operational for two years or more. Funds may be used for working capital, inventory, and equipment. Loans ranging from $10,000 to $50,000 are available for businesses where the owner qualifies as belonging to a low/moderate income household, or creates at least one new job. Businesses must be located and registered in Providence and have five (5) or fewer employees, including the owner(s). Loan terms are from 5 to 10 years with an interest rate of 2% to 4%, along with a 1% closing fee and a $500 legal fee. Fill out the application today!

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

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.

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