Business Excellence Awards
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By Michael Souza
PBN Staff Writer
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:
Since the beginning of the federal fiscal year, the top municipalities where businesses received SBA loans are: