September 5, 2019
BDC Capital is pleased to announce that over $2.5 million of loans through the Goldman Sachs 10,000 Small Businesses loan program has been funded to Rhode Island small businesses. Goldman Sachs, in conjunction with other small business loan initiatives of Governor Gina Raimondo, committed $5.0 million to this program.
If you have a client in need of flexible financing, contact us about this program and our other innovative financing solutions.
To be eligible for a loan from the 10,000 Small Businesses Initiative, a company must:
- be located in Rhode Island
- have been in operation for at least two years
- have revenues greater than $100,000 in its most recent fiscal year
- have a minimum of two employees (including the owner)
Terms and Conditions:
- loans from $50,000 – $500,000*
- competitive rates and flexible repayment schedules
- appropriate collateral to be pledged
- funds may be used for working capital, debt refinance, or other reasonable business purposes
- can be used to supplement bank financing
*Up to $5,000,000 may be available in conjunction with BDC Capital’s other programs including:
- Asset-Based Lines of Credit
- Conventional and SBA 7(a) term loans
- Mezzanine Investments
- SBA 504 loans through CDC New England
BDC Capital, funded by over 30 banks, has been partnering with lenders for over 60 years to provide creative financing solutions for New England-based businesses. Consider us when your clients need:
- Additional working capital.
- Longer loan amortizations to improve cash flow.
- Higher advance rates on real estate or equipment than standard bank formulas.
- Capital for growth, acquisitions, or ownership transitions.
- Restructuring of debt.
For creative solutions to financing needs that can’t be met by conventional sources, contact:
Carol Cedrone Brennan, Director of Business Development
BDC Capital / RI Capital
30 Exchange Terrace, 4th Floor, Providence, RI 02903