MicroLoan Program
The
purpose of the MicroLoan Program is to encourage the creation
and stability of small "micro" businesses
in Rhode Island by providing financing and technical assistance.
The program is funded by the U.S. Small Business Administration
(SBA), and sponsored by the Rhode Island Coalition for
Minority Investment (RICMI). Loans are from $2000 - $35,000
to eligible businesses operating in RI.
Application
We are pleased to provide you with this MicroLoan Program
Application.
Thank you for your interest. If you have any questions,
please call our offices at (401) 351-2999.
Before
you begin filing out this Application Form,
please review and answer the questions below. This will
help to ensure that your application will be processed
in a timely manner.
- Have
you read the MicroLoan Program Fact Sheet? This
form will answer some of the basic questions
about the operation of the program and
help you decide if you want to apply.
If you haven't, please click below to
view.
- Are
you a new business (less than one year in business)? If
so, the MicroLoan Program requires that you
prepare an adequate Business Plan which has
been reviewed by a business consultant, acceptable
to RICMI. If you do not have a business consultant,
please contact your nearest Rhode Island Small
Business Development Corporation (RI/SBDC)
Business Information Center (BIC) for a listing.
We also require each owner of a new business
to submit at least three years
of personal tax returns.
- Have
you been in business for more than a year? If
so, please enclose at least three years of
personal tax returns and business
tax returns. If the business information is
more than 90 days old, please include interim
financial statements. The more complete the
information, the more quickly we will be able
to process your application.
- Please contact us to schedule a personal
interview with the business development
officer to complete the loan application
process, once you have completed the application.
Please
mail your complete application to:
Rhode Island Coalition for Minority Investment
270 Weybosset Street
Providence, Rhode Island 02903
Or call 401/351-2999 with any questions.
Click here to print an application.
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