Small Business Loan Program

The City of Woonsocket is committed to providing access to capital for small business owners.  Therefore, as part of its Community Block Development Grant (CDBG) program, the city offers this program to provide loans to assist Woonsocket businesses to expand, purchase equipment and to create jobs for low to moderate income residents.  This program is designed to provide gap financing to enhance a firm’s eligibility for conventional financing, thus assisting businesses in securing much needed capital.  All businesses located in or relocating to Woonsocket are eligible to submit applications, which are evaluated with HUD underwriting standards, as well as with respect to public benefit and financial need.