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Rhode Island Capital Access Program
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RI CAP guarantees can be used for working capital, equipment, commercial real estate, inventory, business expansion, and virtually any reasonable business purpose your lender approves.
Everything stays between the borrower and the lender. The bank or credit union negotiates all loan terms, pricing, and guaranty premiums directly. CAP provides the credit enhancement that makes the loan work.
No SBA approval queue, no federal red tape. Lenders use their own forms, underwriting standards, and closing procedures.
Participating institutions generally see meaningful growth in their small business portfolios and earn Community Reinvestment Act credit for enrolled loans.
The borrower applies to a participating Rhode Island lender for a commercial loan.
If the loan needs credit enhancement, the lender enrolls it in RI CAP. The borrower and lender contribute a specified percentage of the loan amount as a premium to the Cash Collateral Account, which is then matched by RI Capital.
The lender negotiates all loan terms directly with the borrower and closes the loan using its own procedures and timeline.
After closing, the lender notifies RI Capital and receives the matching premium. The Cash Collateral Account builds over time as a loss reserve for the lender.
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Banks and credit unions use CAP to lend to small businesses that may have one or more of the following:
