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R.I. Bankers Association: Majority of members accepting PPP applications

PROVIDENCE – While national banks have struggled with the rollout of a fast-moving federal loan program designed to help small businesses cover payroll expenses,...

Five Questions With: Scott Sheppard

Scott Sheppard is senior vice president of retail banking for Centreville Bank. He previously served five years as Centreville’s vice president of commercial lending...

Fitch downgrades U.S. bank ratings from stable to negative

PROVIDENCE – Fitch Ratings has downgraded its collective ratings outlook for U.S. banks from stable to negative over concerns about the financial impact of...

HarborOne donates $125K to R.I., Massachusetts nonprofits

PROVIDENCE – HarborOne Bank recently donated $125,000 to several longstanding nonprofit partners in Rhode Island and Massachusetts that serve people hurt by the new...

Citizens M&A serves as financial adviser on LegalPartners recapitalization

PROVIDENCE – Citizens M&A Advisory was recently highlighted for its role as the exclusive financial adviser to LegalPartners on its recapitalization, according to a...
1617 Mineral Spring Ave. (1974)
OWNER: Pawtucket Credit Union
TENANT: Pawtucket Credit Union

Local lenders scramble to process surge of SBA loan applications

PROVIDENCE – Questions continue to emerge as local lenders scramble to keep up with the flood of applications pouring in from small businesses seeking...
R.I. GENERAL TREASURER Seth Magaziner penned a letter to Rhode Island's lenders, urging them to process Paycheck Protection Program loan applications for all qualified small businesses in Rhode Island, not just for existing customers. / PBN FILE PHOTO/MICHAEL SALERNO

Magaziner: Lenders shouldn’t turn away ‘orphaned’ businesses from $349B emergency program

PROVIDENCE – R.I. General Treasurer Seth Magaziner is urging Rhode Island banks, credit uniosn and other lenders to stop turning away some small businesses...

Capital Good Fund launches new Crisis Relief Loan program

PROVIDENCE – A Providence-based nonprofit lending institution has launched a new low-interest loan program to help those taking a financial hit from the new...

Thought you were insured for this interruption? Maybe not

Karen Lee has paid for business interruption insurance since she opened Breathing Time Yoga Inc. 19 years ago. But it wasn’t until a few weeks...
Christopher Carlozzi

The $2 trillion CARES Act could provide lifelines for small business

Many small businesses breathed a sigh of relief when Congress passed the $2 trillion CARES Act to help prevent them from going under during...

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R.I. sees three more COVID-19 deaths; cases total 1,229 | CVS to launch COVID-19 testing site at Twin River, doubling state’s capacity