Rhode Island Business Loans

Get access to revolving funds when you need it most

Serine Alejandro

October 25, 2021

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Companies in Rhode Island

Financing for Companies in Rhode Island

Rhode Island, the smallest state in the country has a unique and growing economy that offers opportunities for small businesses to expand. The healthcare, manufacturing, tourism, and financial services industries are all key elements to the states local economy. The financial services industry generates a large portion of revenue and jobs for Rhode Island. The States proximity to major cities like Boston, allow small and medium sized businesses to benefit from tourism and the universities in the state. Business owners use business loans in Rhode Island to help operate and expand their businesses. SMB Compass provides business loans in Rhode Island to a wide array of industries and businesses.

Manufacturing Loans in Rhode Islands

Over the last quarter century, the healthcare industry in Rhode Island has expanded rapidly, making up a substantial portion of the states workforce. While the healthcare industry provides a large amount of jobs for the state, the manufacturing industry is equally as important to the local economy. Rhode Island manufactures goods and products that are shipped across the world; jewelry is one of the leading manufactured products. Boats, electronics, and other technologies supply a large portion of the states manufacturing revenue and are essential to Rhode Island local economy. Business owners use equipment financing and small business loans in Rhode Island to purchase new machinery and inventory..

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Hospitality Loans in Rhode Island

Hospitality Loans in Rhode Island

With its close proximity to major cities, Rhode Island sees millions of visitors to its state every year. Tourism and hospitality are one of the largest industries in the state, with visitors attracted to the hundreds of miles of coasts and other cultural appeals. The tourism and hospitality industries are responsible for close to billions of dollars and over 50,000 jobs annually, playing a massive role in the state’s economy. The businesses in this industry use hotel loans and small business loans in Rhode Island to add additional working capital for their businesses. SMB Compass provides business loans in Rhode Island to a wide range of industries and business to assist the local economy.

Small Business Loans in Rhode Island

Rhode Island loans

Here are the many ways to use a small business loan in Rhode Island

Acquire a business

Refinance existing loans and credit card debt

Purchase or refinance commercial real estate

Buy or lease machinery and equipment

Purchase inventory and raw materials

Improve Cashflow

Marketing and advertising campaigns

Upgrade technology and business software

Renovate existing office space

Day to day operating expenses

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