For Businesses
Micro-Business Lending
Small businesses with 10 or fewer employees have easy access to loans up to $5,000 for working capital, expansion, fixtures, lease-hold improvements, inventory, or even business start-up costs. Originating as a pilot program to support entrepreneurs during the COVID-19 pandemic, the program has and continues to evolve to support micro-businesses in and around Providence.
Offered in partnership with the Providence City Council, our micro-business lending began by targeting businesses who needed assistance with reopening safely during the pandemic. Now, the program has grown to also include funding for micro-businesses that may need additional support to stay open and operate safely in an ever-changing health environment. Because PRF funding can be customized, funds are primarily focused in certain Commercial Corridors in Providence but loans to businesses operating in other localities may be considered on a case by case basis.
Who Should Apply?
Eligible businesses include service, retail, and manufacturing companies that:
- employ fewer than ten full-time employees and
- earn less than $250,000.00 annually
Credit history will not affect the ability to obtain a loan and collateral is not required of a business owner to move forward.
At least 30% of funds are set aside for women and minority owned businesses.
Submit an inquiry to learn more by calling 401-272-2760.

COVID-19 Relief
Business owners like Ricky Bernard and Marcia Ricketts of Island House Restaurant on Broad Street in Providence were excited to reopen as quickly and safely as possible during the pandemic. They turned to PRF for an affordable micro-business loan to help the restaurant set up outdoor seating, plexi-glass shields, and an app for faster takeout ordering. Like the loan to Island House, PRF has Covid Relief Loans ranging from $500-$5,000 for any physical alterations needed to be compliant with the Rhode Island Department of Health and Commerce RI guidelines to re-open and continue to operate safely through all phases of the pandemic. Covid Relief Loans follow the same protocol as the micro-business loans above.