State Small Business Credit Initiative - Providence Business News

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MEETING OF MINDS: Bob Chatman, left, Slater Technology Fund director, discusses the fund’s portfolio with Thorne Sparkman, Slater’s managing director, at the CIC Providence LLC building, the location of several companies that Slater has invested in.  PBN PHOTO/MICHAEL SALERNO

A HIGH-STAKES VENTURE: Slater startup fund has placed bets on 140...

Cover Story 05/22/2026

Rhode Island’s old industrial base had already been decimated by the mid-1990s when state leaders scrambled to find ways to reinvent and revive the...

Connect with Commerce: R.I. seeing strong growth in new businesses

Connect With Commerce 04/06/2026

(Editor’s note: This is the second in an occasional series focused on questions from Providence Business News readers for R.I. Secretary of Commerce Stefan...

GROWTH OPPORTUNITY: Anthony Ramon, owner of Sopha’s Café in Cranston, says a $120,000 loan through the State Small Business Credit Initiative allowed him to purchase the space to open his new culinary venture. PBN PHOTO/MICHAEL SALERNO

$61.7M credit initiative slow to deploy money

Financial Services 05/10/2024

In today’s economy, Anthony Ramon would have had a tough time securing a mortgage to buy a commercial building on Cranston’s Park Avenue, if...

ALLAN TEAR, co-founder and managing partner of Betaspring. An audit by the U.S. Treasury Department found that Betaspring misused $803,644 to fund operations from the Treasury's State Small Business Credit Initiative. / PBN FILE PHOTO/Michael Salerno

Federal audit finds Betaspring intentionally misused $804K

Entrepreneurship 09/22/2017

PROVIDENCE – A federal audit released this week claims business-accelerator and consultant Betaspring LLC intentionally misused $803,644 to fund operations in 2012. A manager of...

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