About this programme
The Small Business Assistance Program (SBAP) is a Rhode Island Commerce Corporation initiative that helps entrepreneurs and small businesses that are having difficulty obtaining adequate credit from traditional lending organizations. Rather than lending directly, Commerce RI channels the program through a network of approved lender partners, each handling a different size and type of loan.
The program gives priority to women- and minority-owned enterprises, and to businesses located in Rhode Island's underserved communities.
How it works
SBAP covers three loan tracks, each run by different partner lenders. Direct loans of $25,000 and up are available through the Business Development Company of Rhode Island, the South Eastern Economic Development (SEED) Corporation, and Community Investment Corporation.
Micro-loans of $2,000 to $25,000 are available through Social Enterprise Greenhouse, Community Investment Corporation, and the Rhode Island Black Business Association (RIBBA).
The Capital Access Program, administered by Rhode Island Capital Corporation, covers $1,000 to $750,000 and connects businesses to a broader suite of products including business lines of credit, SBA loans, term loans, and mezzanine investment from $50,000 to $5 million.
Who can apply
The business must be having difficulty obtaining adequate credit from traditional lending organizations.
Priority is given to women- and minority-owned enterprises and to businesses in Rhode Island's underserved communities.
Which lender partner you work with, and therefore which loan size and terms apply, depends on the loan track you pursue.
How to apply
- Contact the relevant lender partner directly for the loan track you need: a direct-loan partner for loans starting at $25,000, a micro-loan partner for loans of $2,000 to $25,000, or Rhode Island Capital Corporation for the Capital Access Program.
- For general questions about the program, contact Neil Martin, Managing Director of Financial Programs, at neil.martin@commerceri.com.
Frequently asked
Who actually issues the loan, Commerce RI or a bank?
Neither directly issues most loans. SBAP works through a network of approved lender partners such as the Business Development Company of Rhode Island, Social Enterprise Greenhouse, and Rhode Island Capital Corporation, each covering a different loan size.
What is the smallest loan available through SBAP?
Micro-loans start at $2,000 through partners including Social Enterprise Greenhouse, Community Investment Corporation, and the Rhode Island Black Business Association.
Is there a priority group for this program?
Yes. Women- and minority-owned enterprises and businesses in Rhode Island's underserved communities are prioritized.
Who do I contact with questions about the program overall?
Neil Martin, Managing Director of Financial Programs at Rhode Island Commerce Corporation, at neil.martin@commerceri.com.
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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.