RIEDC hosting small-business seminars

PROVIDENCE – The R.I. Economic Development Corporation will host two free financing educational seminars this month targeting the state’s small-business community.
“Navigating the Credit Crunch: Alternative Lending Sources” will take place Wednesday, Nov. 19, at noon, and “Financing Fast Growth” on Tuesday, Nov. 25, at 10 a.m. Both events will be held at the RIEDC’s offices, located at 555 Valley St., Providence and are open to the public.
“In these tough economic times, programs such as the alternative lending and ‘Financing Fast Growth’ seminars are especially valuable because you can not grow jobs without capital,” says Saul Kaplan, RIEDC executive director. “The goal of these seminars is to help Rhode Island companies learn how to access capital, develop new products and services, enter new markets and create new jobs.”
The first seminar will focus on alternative lending sources.
While Rhode Island banks are an important source of capital for the state’s businesses, a moderated panel discussion will introduce Rhode Island companies to non-bank sources of debt capital. Attendees will meet alternative asset-based lenders and learn how their loan products work.
The panel, moderated by Commercial Financial Consulting’s Ralph X. Stone, includes: Peter Aransky, Greenfield Commercial Credit; George P. Gochis, Diamond Business Credit; Jack O’Neil, Danvers Savings Bank; and David McIlroy, Wells Fargo Business Credit. The second seminar, “Financing Fast Growth,” will detail early-stage capital sources for fast growing companies in Rhode Island, featuring local equity and near-equity capital providers. The event will be hosted by Clear Venture Partners, a venture-capital fund that acts as a venture educator and developer in secondary cities throughout northern New England.
Attendees will learn about equity sources and how to tap into them, the venture-capital process, how angel investors differ from venture capital and innovation and technology grants. Panelists include: Michael Gurau and Michael Burgmaier, Clear Venture Partners; Richard G. Horan, Slater Technology Fund; Peter Dorsey, Cherrystone Angels and BDCRI; Tim O’Loughlin, Vencore Capital; and Richard Ferro, RLF Management Services. “The R.I. Economic Development Corporation was the obvious partner for us to work with to bring this type of educational event to the region,” said Gurau, president of Clear Venture Partners. “RIEDC and Clear Venture Partners recognize the importance of early stage capital to build an innovation economy. By educating and bringing together Rhode Island’s entrepreneur community, local entrepreneurs and growth-oriented companies will learn how to acquire the right capital for their company’s needs.”
The program and lunch are free, but registration ends on today. Please RSVP to Jen Walker at jw@clearvcs.com.

The R.I. Economic Development Corporation is a quasi-public agency established to promote business development, preservation and expansion in the state and undertake port projects in Rhode Island. Additional information is available at

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