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/
On Thursday, June 21st, Mayor Donald R. Grebien and Mayor James A. Diossa announced a new joint Restaurant Week landing page for the Cities of Pawtucket and Central Falls. The collaboration serves as... Read More >
- Mayor Donald R. Grebien
The Pawtucket City Council will hold a Public Hearing on the Municipal Budgets on Wednesday, May 23, 2018, at 7:00 p.m. in the City Council Chambers, 3rd Floor, City Hall, 137 Roosevelt Avenue,... Read More >