Providence is Open for Business

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by Mayor Jorge Elorza

Access to capital is essential to business success, which is why the Providence Business Loan Fund (PBLF) is a critical tool that needs to be utilized by new businesses. Creating jobs and growing our local economy are among the highest priorities of my administration.

The PBLF was established more than 25 years ago and was designed to assist businesses of all sized by providing access to financing that can help businesses grow and increase employment within the city. We know that the availability of capital can be critical to businesses success and it has become more difficult to get a small loan from the big banks.

The PBLF is comprised of qualified financial advisors who are well versed in what individual businesses need to succeed. There are a variety of tools that can be used in the process of starting or growing a business. The PBLF offers Revolving Loans and Storefront improvement grants that allow for access to capital. There is also a special program that will target specific neighborhoods.

The PBLF adds another resource that start-ups and growing businesses can use. We already have some of the best schools in the country, highly skilled labor pool, an extraordinary quality of life, and close access to international marketplaces of millions.

We are excited to meet the needs of an expanding market. The PBLF will allow investments to be made to businesses of all sizes. With the PBLF, we are more convinced than ever that Providence is a place for business to grow and expand.

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Avatar About the Author: The Rhode Island Small Business Journal is a printed monthly magazine and an online resource for the aspiring and start-up entrepreneur and small business owner.

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