Established in 1994, BX.COM quickly became successful developing custom websites and web applications. However, with the tech crash in 2000, followed by September 11th's sobering effects, BX.COM found itself struggling with near bankruptcy despite successful e-commerce and content management products (known as pureCommerce and pureEditor).

"Lucky for us we heard about the Rhode Island Economic Development Corporation," says BX.COM founder Mark Shapiro. Along with co-founder Edward Weisberg, Shapiro discovered that banks wouldn't provide loans for working capital or to reorganize debt, a service BX.COM needed to survive. "We found out that, as a Rhode Island company, we might be a candidate for a loan through the RIEDC," he says. He met with the EDC's financial services which resulted in a loan that helped BX.COM successfully negotiate with more than 70 debtors.

"The EDC was a helping hand that was extended to my company in the darkest of times," says Shapiro. "In this age of big government bureaucracy it's refreshing to see Rhode Island as a local government that helps its businesses succeed with actual financial support rather than typical government rhetoric."

After pulling out of near bankruptcy and releasing two blockbuster products, BX.COM plans to expand beyond their home office in Providence and its partner offices in Boston, Chicago, Washington D.C., Los Angeles and San Jose. This year, the company plans to seek additional venture capital funding to support their aggressive partner channel expansion.