Terms are 5-7 years at US Stated Prime on day of closing. Proceeds can be used for most business purposes including working capital. For projects that cannot be qualified for the Federal Program, RIDC will consider loaning part of its private funds to a business that will have a substantial impact on the community. Terms are 5 to 7 years at market rates. An interest subsidy for the first two years of the loan is available.
Strong collateral is required.
Site selection, financing, counseling, incentives and community introductions. Brokers and consultants welcome.