News - Financing
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Legislation Seeks Growth Capital Program to Support Rhode Island Businesses
05/15/2008 - 10:20
Legislation to create a $20-million Growth Capital Guarantee Program has been introduced to the Senate and House of Representatives of the Rhode Island General Assembly. The legislation seeks to reposition existing guarantee authority currently in the Rhode Island Industrial-Recreational Building Authority (IRBA) program to help companies well positioned to create new high-wage jobs obtain growth capital from private sector lenders using assets other than real estate, machinery and equipment.
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RIEDC Financing Programs Create, Retain More than 400 Jobs in 12 Month Period
05/12/2008 - 08:49
The Rhode Island Economic Development Corporation’s Small Business Loan Fund (SBLF) and Micro Loan program have helped create and/or retain more than 400 jobs in the last year. Since June 2007, 12 loans totaling $2.6 million were awarded to both small and mid-sized businesses located in communities throughout the state.
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Concordia Expands Medical Manufacturing Operation in Rhode Island
04/17/2008 - 12:22
The Rhode Island Economic Development Corporation (RIEDC) announced today that Concordia Manufacturing, LLC has received a $500,000 loan from the Small Business Loan Fund to assist in its plans to expand its medical manufacturing operations.
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RIEDC’s Saul Kaplan Discusses Rhode Island’s Growth Plan with BioRegion News
03/19/2008 - 14:53
RIEDC Executive Director Saul Kaplan recently sat down for a Q&A session with a reporter from BioRegion News to discuss Rhode Island’s economic growth plan and the state’s bid to grow a high wage innovation economy.
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Saul Kaplan in ProJo Editorial: Difficult Economic Times Call for Decisive Action
03/10/2008 - 11:57
Rhode Island is at a tipping point and we must work together to manage a difficult state budget, improve our tax competitiveness, and provide businesses with the tools they need to grow. We must become a knowledge economy that produces better jobs for all Rhode Islanders. Recent employment numbers only increase our resolve to accelerate the transition.
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RIEDC Launches New Alliance with Two Area Business Development Companies
02/26/2008 - 11:57
The Rhode Island Economic Development Corporation (RIEDC) today announced a new strategic alliance with the Business Development Company of Rhode Island (BDCRI) and the Business Development Company of New England (BDCNE). RIEDC joins with the BDCs in a partnership to bring the financing tools of two of the most recognized business development organizations in the United States to an expanded number of Rhode Island businesses with more that $200 million in growth capital products available to invest.
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RIEDC Announces New Finance Program to Assist Rhode Island Growth Companies
02/26/2008 - 11:48
The Rhode Island Economic Development Corporation announced legislation sponsored by House Majority Leader Gordon Fox and Senator William Walaska, Chairman, Senate Corporations Committee that seeks to increase available growth capital for Rhode Island companies well positioned to grow and create new high-wage jobs.
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Neurotech Pharmaceuticals Announces Rhode Island Expansion Plan
01/16/2008 - 13:34
Biotechnology company focused on sight-saving technologies is aided by state in developing new office and manufacturing facility
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RIEDC Names J. Michael Saul New Managing Director of Finance Programs
07/12/2007 - 02:00
J. Michael Saul has accepted a permanent position at the Rhode Island Economic Development Corporation (RIEDC) as Managing Director of Finance Programs. Saul will manage the agency's portfolio of financing programs and, after completing a comprehensive review of the state's current financing tools, recommend a plan for updating the platform to better match the needs of Rhode Island companies.
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Urban Revitalization Fund, RIEDC Form Alliance to Promote Synergy Across Rhode Island's Finance Programs
01/24/2007 - 03:00
The Rhode Island Economic Development Corporation (RIEDC) and The Urban Revitalization Fund (TURF) announced a new alliance that will strengthen and better align the financing programs offered by both organizations. Through the alliance, TURF will co-locate with RIEDC at the corporation's new offices in the American Locomotive Works Development. In addition, TURF Executive Director Michael Saul will lead a comprehensive review of RIEDC's current financing programs and recommend a plan for updating the platform to better match the needs of Rhode Island companies.