Your Local SBA

Local Lenders Providing Financial Assistance

The following financial institutions have agreed to provide financial assistance to small businesses affected by the new fire code regulations at reasonable rates and terms.

Rhode Island Fire Code Compliance Lenders
Lender Rate Term Leasehold
Financing		 Minimum
Loan
Amount		 Special
Features

Bank Rhode Island
One Turks Head Place
Providence, RI, 02903

Don DiBlasi, VP

(401) 456-5015 x 1688

 Normal &
fixed rates
available.		 Up to 10 years Yes $10,000 to $250,000  

Business Development
Company of RI
40 Westminster Street,
Suite 702
Providence, RI, 02903

Garrett Hunter, President

(401) 351-3036

 Normal &
fixed rates
available.		 7 to 10 years Yes $50,000 Present cashflow must demonstrate repayment ability.

Citizens Bank
100 A Sockanosset Crossroad
Cranston, RI, 02920

John Rosevear, AVP

(401) 734-5618

 Prime;
Fixed rates
available.		 Up to 10 years; 25 years on RE Yes None Business credit card advances available for small outlays. Rates below prime may be available on loans with maturities of less than 5 years.

First Federal Savings Bank
40 Westminster Street, 2nd Floor
Providence, RI, 02903

Doug Hanson, VP

(401) 228-2067

 Prime;
Adjusting rates
available		 7 years Leasehold;
20 years on RE		 Yes $50,000 Leasehold
75% of value on RE		 Fixed rate may be available at a rate above prime.

Fleet Bank
111 Westminster Street
Providence, RI, 02903

Laura DiSano, SVP

(401) 278-5520

Simon Tahan, District Mgr.

(401) 762-5038

 Prime + .50%;
Fixed rates
available.		 Up to 7 years, 10 years maximum;
20 years on RE		 Yes $10,000 Application and origination fees waived. SBA guaranty fee waived. Rates subject to change depending on market conditions.

Home Loan & Investment Bank, F.S.B.
One Home Loan Plaza
Warwick, RI, 02886

Jill Davis, Credit Analyst

(401) 739-8800 ext. 486

 Normal Rates Up to 15 years on leasehold; 25 years on RE Yes
(restrictions)		 None Secondary real estate collateral required on leasehold financing. Special credit situations considered.

Pitney Bowes SBLC
10 Dorrance Street, Suite 800B
Providence, RI, 02903

Robert Fay, BDO

(401) 272-2220

 Prime + 1.5% Adjusting Up to 10 years; 25 years on RE Yes $50,000  

Sovereign Bank
15 Westminster Street
Providence, RI, 02903

Michael Savage, VP

(617) 533-1745

 Up to prime + .5%; Fixed rates available Up to 10 years Yes $10,000 to $100,000 Reduced rates on loans with maturities less than 5 years; working capital for economic injury; automatic debit account required; larger loans and longer terms considered on a case by case basis.

UPS Capital Corp.
55 Dorrance Street
Providence, RI, 02903

Bill Benford, VP

(401) 553-2405

 Normal & fixed rates available. Extended term possible RE only $50,000  

Washington Trust Company
23 Broad Street
Westerly, RI, 02891

Joseph Carnevale, VP

(401) 421-3600 ext. 8217

 Prime + 1% adjusting 3 to 7 years Yes None

[Return to Fire Code Technical & Financial Assistance Page]