small businesses

SBA supports $1.6M in loans to R.I. businesses in January

THE U.S. Small Business Administration issued 15 loans for Rhode Island small businesses in January.
Posted 2/3/12

PROVIDENCE – The U.S. Small Business Administration issued guarantees for 15 loans to Rhode Island small businesses in January.

The agency supported $1.6 million in total; $195,000 went to four new businesses that created 24 new jobs, the SBA said.

“It is critical that small businesses have access to capital in order to start and grow,” said Mark S. Hayward, director of the SBA Rhode Island office.

Many of the loans were made to businesses located in northern Rhode Island; in Pawtucket, three businesses were granted loans totaling $630,700.

Since the beginning of the federal fiscal year on Oct. 1, 2011, the SBA has guaranteed 93 loans worth more than $24 million.

As of Jan. 31, the top five Rhode Island SBA lenders are:

  • Bank Rhode Island - 12 loans, $808,000.

  • Coastway Community Bank – 11 loans, $1,385,000

  • BankNewport – 9 loans, $2,186,300.

  • Citizens Bank – 9 loans, $641,500.

  • The Washington Trust Company – 8 loans, $396,500.

Since the beginning of the federal fiscal year, the top municipalities where businesses received SBA loans are:

  • Providence - 11 loans, $1,931,000.

  • Pawtucket – 9 loans, $1,134,000.

  • Cranston - 7 loans, $1,840,000.

  • Portsmouth – 7 loans, $1,234,000.

  • Westerly – 5 loans, $724,000.

  • Warwick - 5 loans, $420,000.

PBN Hosted

Estate and Corporate Income Taxes are changing next year, and business owners and executives should know the details. The PBN Summit on November 6th will provide those details and more - including how much Obamacare's Employer Mandate could cost.
Purchase Data
Book of Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  • Purchase an e-File of the entire Book of Lists database
  • Purchase a printed copy of the Book of Lists
    Latest News