MAKING GROWTH POSSIBLE
Access to capital is critical to business success. It's not always easy getting that financing but we can help.
Through the Providence Economic Development Partnership (PEDP), we may be able to get you the financing you need. Low-interest loans up to $125,000 or more, flexible terms and hands-on support can facilitate your needs.
Eligible activities include acquisition of property, construction costs, purchase of equipment & inventory, and working capital. Since this is HUD financing, there are certain requirements:
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Job creation - 1 FTE job for every $35,000
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Collateral - $1.25 for every $1 financed
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Debt service - ability to carry debt
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Declination by two banks
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National objective - job creation, slum & blight, urgent need
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Monitoring & First Source compliance
We also offer the 1st-in-the-nation Innovation Investment Program, making $50,000 investments in high-tech startups.
Our financial partners include banks and lending institutions, the U.S. Small Business Administration and RI Economic Development Corporation.
For more information, talk to our economic development professionals today to see if you qualify. Call 401.680.8410.