In an effort to minimize the risk of spreading the Coronavirus (COVID-19), City Hall will be operating via appointment from 9 a.m. to 3 p.m. For COVID-19 information in the City of Pawtucket, please visit http://www.pawtucketri.com/COVID19.
The City of Pawtucket works to assist businesses in ways consistent with its strategic plan. The City has an economic development office with a customer-friendly approach to troubleshooting zoning, site selection and various business growth issues.
Commercial Ventures: Provide matching loans to retail and service-sector borrowers, including start-ups. Eligible uses of funds include inventory and lease-hold improvements (term not to exceed 3 years, maximum loan up to $10,000).
Equipment Loans: Providing matching loans to industrial borrowers working to purchase equipment or upgrade existing equipment. Borrower is allowed to borrow up to 90% of value of equipment (not to exceed 5 years and $50,000).
Real Estate Loans: To enable industrial and commercial borrowers to acquire and rehabilitate real estate. Borrower is allowed to borrow up to 90% of the value of the real estate (not to exceed 10 years and $100,000).
Working Capital Loans: Provide working capital for inventory materials, marketing and related expenses to industrial and commercial borrowers (not to exceed 3 years and $50,000). Relocation loan-related expenses for businesses moving into the city are included in this program.
Restaurant Loans: Providing incentive funding for the improvement and/or expansion of restaurants located in the City’s 307 acre Arts & Entertainment District or those interested in relocating to this area. Borrower is allowed to borrow up to $50,000. The terms of the loans are determined by use of funds: Working Capitol (3 years); Real Estate (10 years); Equipment (5 years).
Fire Safety Loans: Providing building owners and long-term lessees with funding to upgrade existing commercial properties to meet Rhode Island’s Fire Safety Code.
Other additional information on available properties in Pawtucket - https://www.opportunityspace.org/
Jeanne Boyle, Economic Development Director, 401-728-0500 ext. 432
Herb Weiss, 401-728-0500 ext. 437
Economic Development Information
Narrative Summary of the Substantial Amendment to the City of Pawtucket’s 2019-2020 Annual Action Plan – COVID-19 CDBG-CV FundingThe City of Pawtucket is providing a 5-day public review and comment... Read More >
- Mayor Donald R. Grebien