About this programme
The SEG Loan Fund is one of two capital programs run by Social Enterprise Greenhouse (SEG), a Providence-based nonprofit that supports Rhode Island entrepreneurs building businesses with a social-impact mission. The fund targets enterprises that have moved past the startup stage and are ready to expand.
Unlike SEG's Microgrant Fund, the Loan Fund is not limited to SEG program alumni. It is open to any Rhode Island social enterprise with a social-impact mission, including for-profit businesses, nonprofits, worker cooperatives, and LLCs, as long as the business has been operating for at least a year and has more than $25,000 in revenue to date.
Loans run from $10,000 to $25,000 and can go toward inventory, equipment, business expansion, marketing, working capital, or other development initiatives. The fund is built for businesses that lack the collateral or credit history a bank would ask for, but still need capital to grow and to create or retain jobs.
How it works
The fund offers loan terms of up to 3 years at rates SEG describes as typically well below commercial lending rates, set by the loan committee based on the specifics of each application. There are no hidden fees.
The Loan Fund does not require traditional collateral, since SEG recognizes that early-stage or growing social enterprises often lack significant physical assets to pledge. SEG also does not run personal credit checks; the loan committee instead evaluates the financial health and repayment capacity of the business itself.
Applications are accepted on a rolling basis, so there is no fixed deadline or cohort cycle.
Who can apply
The business must be based in Rhode Island, with a social-impact mission, and structured as a for-profit, nonprofit, worker cooperative, or LLC.
It must have been operating for at least 1 year and have generated more than $25,000 in revenue to date.
The business must show a commitment to job creation or retention.
There is no requirement to have gone through an SEG program first; ventures that serve customers nationally still qualify as long as the business itself is based in Rhode Island.
How to apply
- Book a capital navigation appointment with the SEG Capital team. This meeting is required before you can submit a formal application, and staff use it to help you identify the right funding option and strengthen your application.
- Submit the Loan Fund application referred by your capital navigation appointment.
- The loan committee reviews the application and sets the interest rate and terms based on the specifics of your business.
- If you are not selected, SEG commits to giving brief feedback to every applicant.
Frequently asked
Do I need to be an SEG program alumnus to apply for the Loan Fund?
No. Only the Microgrant Fund requires SEG alumni status; the Loan Fund accepts any qualifying Rhode Island social enterprise.
Can I apply for both the Loan Fund and the Microgrant Fund at the same time?
No, applicants must choose one fund at a time.
Will SEG check my personal credit?
No. SEG's primary focus is on the financial health and repayment capacity of the business itself, not personal credit history.
Does my business need to serve only Rhode Island customers?
No. A venture that serves customers nationally still qualifies as long as the business itself is based in Rhode Island.
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Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.