How many small businesses are in Rhode Island?

Rhode Island has approximately 108,000 small businesses, representing 99.3 percent of all businesses in the state. They employ 228,000 workers — 48.6 percent of Rhode Island's private workforce. Source: SBA Office of Advocacy, 2024 Small Business Profile.

How active is SBA 7(a) lending in Rhode Island?

Rhode Island received 298 SBA 7(a) loan approvals in FY2024, totaling $108 million. The average loan size was approximately $364,000. Source: SBA FOIA loan dataset, FY2024 aggregate.

Does Rhode Island have a commercial financing disclosure law?

No. Rhode Island has not enacted a statewide commercial financing disclosure law as of 2026.

What financing products work best for Rhode Island small businesses?

Professional services and healthcare firms use working capital lines and SBA 7(a). Design and manufacturing businesses use equipment financing. Hospitality businesses use revenue-based financing. The right product depends on your industry and revenue.

Is ClearValue Lending available in Rhode Island?

Yes. ClearValue Lending routes Rhode Island SMB applicants to lender partners operating across Providence, Cranston, Warwick, Newport, and statewide. We are a funding platform, not a lender or broker.

What are typical eligibility minimums for Rhode Island SMB financing?

SBA 7(a) typically requires 2+ years in business, 650+ FICO, and $150,000+ annual revenue. Revenue-based financing may be available with 500+ FICO, 6+ months in business, and $10,000+ monthly revenue. All financing is subject to lender underwriting.

Small Business Loans in Rhode Island

Rhode Island has 108,000 small businesses employing 228,000 workers — 48.6 percent of the state's private workforce. In FY2024, Rhode Island small businesses received 298 SBA 7(a) loans totaling $108 million, with an average loan size of approximately $364,000. Rhode Island's SMB economy punches above its weight — as the nation's smallest state by area, its SMB density is among the highest in New England, with professional services, healthcare, design and arts, and a significant manufacturing sector concentrated in Providence and Newport.