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Rhode Island Capital Access Program
The Capital Access Program encourages lenders to finance Rhode Island small businesses by supporting a pooled loan loss reserve.
About this program
Rhode Island's Capital Access Program is a credit enhancement tool that helps participating banks and lenders make loans to small businesses. The program supports a pooled loan loss reserve for enrolled loans, making it easier for lenders to approve financing for eligible Rhode Island businesses that may not otherwise meet conventional credit standards. Loans are made by the participating lender and enrolled in the program subject to state requirements.
Eligibility
Rhode Island small businesses receiving eligible business-purpose financing from a participating lender.
Requirements
- Business must be located in Rhode Island.
- Loan must be originated by a participating lender.
- Loan proceeds must support eligible business purposes.