Governor Carcieri plans to unveil today the state’s own economic stimulus package to help Rhode Island’s small businesses.

The plan is intended to open up new sources of credit for small businesses.

It will include an infusion of capital into the state’s Small Business Loan Fund (SBLF), a state-backed loan-guarantee program to encourage lending to small business, and a pledge from the local banking community to invest more than $140 million into small- and mid-sized Rhode Island businesses over the next two years, Carcieri’s office said yesterday.

It will also include a plan to accelerate certain projects, as well as an additional pledge for financing from the Business Development Company of Rhode Island.

Carcieri is scheduled to discuss the package at a news conference at 10:30 a.m. at the State House.

He is to be joined by representatives of the Rhode Island Economic Development Corporation, the U.S. Small Business Administration and members of the banking community.

Full Story: Carcieri to unveil stimulus package for small business Source: Providence Journal, December 11th, 2008 Author: Journal staff Added on December 11th, 2008 at 11:01 am, by Matt Mikula