Once-embattled city loan fund on firmer ground

THE PROVIDENCE Business Loan Fund has lent $2.4 million in 11 loans in the last three years. Above, Mayor Jorge O. Elorza and Dr. Anne S. DeGroot, CEO and chief sience officer of EpiVax, Inc., a previous recipient of the PBLF. / COURTESY CITY OF PROVIDENCE
Tom Hoagland is the first to admit the Providence Business Loan Fund he leads as director has a checkered history and limited hopes of attracting new funding anytime soon. But the fund nonetheless is on the upswing, he says. In the last three years, the fund has lent $2.4 million in 11 loans. And Hoagland’s…

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