The Small Business Loan Fund Corporation is getting a lot of attention lately as the credit markets continue to tighten.

A subsidiary of the R.I. Economic Development Corporation, SBLFC is an $11 million revolving fund that lends to small companies in the hopes that it will spur more public- and private-sector financing to help business grow and create more jobs...

...Since the fund’s inception, the SBLFC has provided 568 loans to Rhode Island businesses totaling $46 million dollars. This means that the SBLFC has loaned its $11 million dollars out and been repaid 4 times. The SBLFC currently has approximately $9 million outstanding or committed with approximately $2 million currently available to lend.

J. Michael Saul, deputy director of RIEDC, oversees the agency’s lending program. He answered five questions about SBLFC.

 

Full Story: Five Questions With: Michael Saul Source: Providence Business News, October 14th, 2008 Author: William Hamilton Added on October 14th, 2008 at 9:33 am, by Matt Mikula