Rhode Island Small Business Assistance Program (SBAP)
Rhode Island Commerce Corporation
$2,000–$750,000
Rhode Island small-business loans
Rhode Island's standing small-business lending program, launched in FY2016, that provides loans and microloans to businesses with fewer than 200 employees that have trouble obtaining adequate credit from traditional lenders. RI Commerce works through a network of partner lenders: direct loans of $25,000 and up through the Business Development Company of Rhode Island, SEED Corporation, and Community Investment Corporation; microloans of $2,000–$25,000 through Social Enterprise Greenhouse, Community Investment Corporation, and the Rhode Island Black Business Association (RIBBA); and a Capital Access Program ($1,000–$750,000) that uses state matching funds to enhance bank and credit-union loans. The program emphasizes women- and minority-owned enterprises and businesses in underserved Rhode Island communities.
- Funding type
- Loan
- Level
- State
- Amount range
- $2,000 – $750,000
- Realistic amount
- Most participants take a microloan ($2,000–$25,000) or a direct partner-lender loan in the l…
- Deadline
- Rolling — applications are made year-round directly through the program's partner lenders.
- Status
- active
- States
- Rhode Island
- Payment model
- loan
Who qualifies
- Rhode Island small business with fewer than 200 employees
- Difficulty obtaining adequate credit from traditional lenders
- Emphasis on women-owned, minority-owned, and underserved-community businesses
- Applies through one of the program's partner lenders
What it covers
Eligible expenses
- Working capital
- Equipment and machinery
- Inventory
- General business expansion costs
Ineligible expenses
- Uses prohibited by the specific partner lender
- Personal (non-business) expenses
How to apply
-
1
Match your need to a loan channel
Decide whether you need a microloan ($2,000–$25,000), a direct loan ($25,000+), or a Capital Access Program bank loan ($1,000–$750,000), and identify the corresponding partner lender.
~2 hrs
-
2
Apply through the partner lender
Work directly with the partner organization (e.g., Social Enterprise Greenhouse or RIBBA for microloans; BDC of RI, SEED, or Community Investment Corporation for direct loans), submitting business financials and a use-of-funds plan.
~8 hrs
-
3
Underwriting and approval
The partner lender underwrites the loan with RI Commerce program support behind it and issues a decision.
~4 hrs
-
4
Close and receive funds
Close the loan with the partner lender and draw funds for the approved business purpose.
~2 hrs
The program is really a directory of vetted RI lenders — pick the partner that matches your loan size rather than applying to 'RI Commerce' directly. Microloan partners like Social Enterprise Greenhouse and RIBBA are the most accessible entry points for early-stage, women-, and minority-owned businesses that a bank would turn away.
Deadline & timing
No fixed deadline. Applicants work directly with the partner lender that matches their loan size (microloan, direct loan, or Capital Access Program).
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Last reviewed 2026. GrantCompass is an independent funding-discovery tool and is not affiliated with any government agency. Always confirm details on the official program page.