Commerce RI state SMB program has backed loans worth $600,000 so far

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BOB DIPIETRO, CO-FOUNDER and co-owner of the RI Mushroom Company just secured a $325,000 loan through the Business Development Co.
BOB DIPIETRO, CO-FOUNDER and co-owner of the RI Mushroom Company just secured a $325,000 loan through the Business Development Co. / PBN FILE PHOTO/MICHAEL SALERNO
PROVIDENCE – A program to inject capital into some Rhode Island small businesses is picking up momentum, according to the R.I. Commerce Corp. Created with a $5.45 million allocation of state funds, the Small Business Assistance Program has loaned out $600,000 of its capital to 20 local companies, which in turn has been matched by…

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