Gap Financing for Growth
Rhode Island Capital is a private company that provides financing and investment capital for growing companies in the state of Rhode Island. For nearly 70 years, we have been recognized locally and nationally as a leader and innovator in business lending and capital investment. Thousands of companies have benefited from our financial assistance. The financing we provide is “gap financing” – supplemental assistance that bridges the gap between conventional financing and the needs of the business. We have invested more than $1 billion in local businesses.
The Banker’s Choice for a Partner
Rhode Island Capital, which is funded by 35 financial institutions located throughout New England, works in partnership with banks and investors to put together financing packages beyond the scope of conventional financing. Bankers refer many of their best customers to us to help extend their institution’s lending capacity.
Rhode Island Capital is also an important link to many publicly funded business financing initiatives. Rhode Island Capital offers SBA 7(a) loans in addition to mezzanine and equity investments. Our 504 Partner, New England Certified Development (NECDC), is an SBA 504 lender serving the six New England States.
How To Access Our Services
Rhode Island Capital is staffed with seasoned professionals trained to find solutions to financing needs. When you call, a business development officer will guide you through our services. Our promise to you:
- A fast and professional evaluation of your firm’s financing needs
- A clear presentation of our proposed financing plan for your business
- A timely commitment of any funding to be provided
Let’s Get Started
The following information is generally required before we can start the due diligence process leading to a formal commitment from Rhode Island Capital. Some financing may require additional information:
- Narrative description of your business including markets, competition, and primary customers
- Amount, type, and purpose of the financing requested
- Three-year operating history, including fiscal year end statements and the latest management interim statements
- Profit/loss and cash flow projections
- Accounts receivable and accounts payable agings and inventory description
- Fixed asset appraisals where appropriate
- Personal financial statements of principals and management resumes
Once the Executive Committee approves a loan or investment, we issue a detailed commitment letter and the closing process begins.