Message from the Chairman and Executive Director

Charles Newton, Chairman

"The Minority Investment Development Corporation (MIDC) is an invaluable financial resource in the development of minority and women owned businesses and those businesses located in urban areas and state designated Enterprise Zones.   According to the Milken Institute study "Mainstreaming Minority Business: Financing Domestic Emerging Markets" capitol access remains a large obstacle for many minorities trying to either start or grow businesses.  Research has demonstrated that there is a disparity in credit accessibility among these demographic groups.  As a result, over half of all small business owners do not even apply for a loan due to fear of denial.  This is especially true among minority business owners.

MIDC takes the time to understand your financial and personal constraints, your business goals then works with you to structure a financial package, to optimize your chance of securing funding.  This may include partnering with private lending institutions, government agencies or complete financing through MIDC.

While MIDC is cognizant of the multitude of difficulties, which exist for businesses, we are also aware of the tremendous opportunities small businesses have for job and wealth creation.  The future of Rhode Island's and the nation's economic growth depends on the inclusion of minority-owned businesses and minority business workforce.

MIDC and its corporate partners have made a commitment to reduce this credit gap and to provide access to you, our budding entrepreneur.  Contact MIDC and put us to work for you."

Denise A. Barge, Executive Director

"MIDC has a great story to tell and what better way to do it than with our new website.  Our customers tell the story best in their profiles and attest to the continued need for alternative financing for disadvantaged small business owners.  Most notably, our technical assistance through RICMI has provided expertise and guidance to over 153 clients since 1997, resulting in stronger more viable businesses.

We are anxious to receive your feedback on our website.  Please contact us by email with your comments.  WELCOME TO MIDC."