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Centreville loan office delayed, JPMorgan expansion continues

PROVIDENCE – With bank branches across the state shuttering or limiting hours to minimize spread of the new coronavirus, expansion plans have also been...

PPP loan applicants start to see funding come through; lenders plan...

PROVIDENCE – Chris Bicho originally anticipated making a second round of layoffs on Friday. Amid the abrupt economic shutdown, the owner and founder of Newport-based...
WILLING PARTICIPANT: BayCoast Bank is one of lenders with a local presence that has begun accepting and processing applications for the U.S. Small Business Association’s Paycheck Protection Program. / COURTESY BAYCOAST BANK

Stressed R.I. employers jostle to receive SBA assistance

The rollout of federal relief ­programs offered a much-needed source of funding and of hope to small businesses struggling in the coronavirus pandemic. But securing...
1617 Mineral Spring Ave. (1974)OWNER: Pawtucket Credit UnionTENANT: Pawtucket Credit Union

Local lenders strapped for capacity as PPP opens to new applicants

PROVIDENCE – The initial surge in applications from small business owners clambering to get their shares of a federal payroll relief program have abated...

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...
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...
THE WASHINGTON TRUST CO. is one of the lenders preparing for heavy demand from small businesses looking to participate in the federal Paycheck Protection Program, starting Friday. / PBN FILE PHOTO/SCOTT KINGSLEY

Stressed local bankers brace for overwhelming demand for new SBA loans...

PROVIDENCE – Local bankers are expecting an onslaught of demand from struggling small businesses looking to get a piece of the nearly $350 billion...

R.I. banks say they are ready to weather the coronavirus storm

PROVIDENCE – Plunging stock markets. Near-zero interest rates. An economic slowdown, social distancing and self-quarantines. Any one of these alone could spell trouble for...

What bank customers need to know: COVID-19 edition

PROVIDENCE – From reducing branch hours to deferring loan payments, banks across the state and the country are changing practices and policies in response...
UNITED WAY OF Rhode Island and the Rhode Island Foundation have established the Rhode Island COVID-19 Response Fund to assist nonprofits during the coronavirus outbreak.

United Way, R.I. Foundation create COVID-19 response fund to help nonprofits

PROVIDENCE – In an effort to help nonprofits with direct-service programs impacted by the COVID-19 pandemic, the United Way of Rhode Island and the...

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