...the economic stimulus plan that Governor Carcieri unveiled at the State House on Thursday is so important.

The six-point package includes a pledge by eight banks and credit unions that do business in Rhode Island to make $165 million in new loans available to small- and mid-sized Rhode Island businesses during the next two years.

Those same banks and credit unions have pledged to put $2.4 million into an existing small-business loan fund, which the Rhode Island Economic Development Corporation oversees, to help make more loans available.

And Carcieri has asked the U.S. Economic Development Administration for a $5-million grant to further boost the EDC’s small-business loan fund.

Full Story: Carcieri’s stimulus plan vital for small businesses in Rhode Island Source: Providence Journal, December 13th, 2008 Author: Neil Downing Added on December 24th, 2008 at 3:38 pm, by Matt Mikula