State Small Business Credit Initiative - Providence Business News

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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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