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East Providence Commercial Microloan Program
Microloans for East Providence businesses with 10 or fewer employees that cannot obtain conventional financing.
About this program
The East Providence Commercial Microloan Program finances startup expenses, operating expenses, and asset purchases for small businesses physically located in East Providence that are unable to obtain loans through banks or other commercial lenders.
Eligibility
Businesses physically located in East Providence with ten or fewer employees and a demonstrated inability to obtain conventional commercial financing.
Requirements
- Submit commercial microloan application to East Providence Economic Development
- Provide business plan, financials, ownership, collateral if applicable, and use-of-funds information
- Meet city underwriting, eligibility, and repayment requirements