30 Aug 2021
RI Black Business Association
For more than a decade, the Rhode Island Black Business Association has been dedicated to providing assistance and focuses on their efforts on economic development, wealth creation, and advancement of black and minority-owned businesses in Rhode Island.
Through access to capital, contracting, business development resources, entrepreneur training, business advocacy, meaningful investor services, and workforce development, the Providence-based non-profit organization provides programs and services designed to help small businesses grow, build sustainable wealth, and create jobs to impact their communities.
The RIBBA has been able to provide access to working capital through a microloan program, grants and other assistance programs.
With support of the Papitto Opportunity Connection, the RIBBA has been able to broaden and expand its existing microloan program into a much more expanded microloan and grant program to black owned businesses.
The recent funding from POC will allow RIBBA to distribute forgivable microloans to businesses operated by people of color. Once businesses have used the funds for their intended purposes, the loans will be forgiven.
Rhode Island Black Business Association is committed to providing dynamic leadership, advocacy and economic empowerment to strengthen and promote sustainable growth and prosperity within Rhode Island’s underserved communities.
POC FUNDING IMPACT
“(This is a) significant investment in the support of businesses owned by people of color. “We are deeply grateful for the support at such a critical time for our business community. (The POC support) will have an immediate impact on businesses and our community, a win–win for all.”