About this programme
The Small Business Loan Fund (SBLF) is a Rhode Island Commerce Corporation program aimed at existing manufacturing, processing, and selected service-sector businesses. Commerce RI describes it as a way to help level the playing field and fill the financing gap that small and mid-sized businesses face when trying to grow.
The fund provides working capital loans, and manufacturers expanding into land, buildings, or equipment may qualify for larger amounts beyond the standard range.
How it works
Standard loans run from $100,000 to $500,000 for working capital. Manufacturers acquiring land, buildings, or equipment may qualify for loans above $500,000.
Loans carry fixed interest rates and flexible repayment terms, and they are fully secured, meaning collateral is required.
Borrowers are expected to create roughly one job for every $50,000 borrowed.
Who can apply
The business must be an existing manufacturing or processing company, or a business in a selected service sector.
The business must be able to offer collateral, since SBLF loans are fully secured.
The business must be able to support the fund's job-creation expectation of about one job per $50,000 borrowed.
How to apply
- Contact Walter Kondon, Director of Loan Portfolio and Credit, at walter.kondon@commerceri.com or (401) 278-9100 to start the application process.
Frequently asked
Is collateral required for an SBLF loan?
Yes, SBLF loans are fully secured.
How much can manufacturers borrow if they need more than $500,000?
Manufacturers acquiring land, buildings, or equipment may qualify for loans above the standard $100,000 to $500,000 working capital range.
Is there a job creation requirement?
Yes. The program expects roughly one job created for each $50,000 borrowed.
Who do I contact to apply?
Walter Kondon, Director of Loan Portfolio and Credit, at walter.kondon@commerceri.com or (401) 278-9100.
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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.