Ground-Floor Commercial Space Loan Program

The 195 District has launched an innovative new loan program designed to help activate vacant ground-floor commercial spaces. The program is targeted at first-generation spaces, because they typically require a higher level of investment than spaces that have previously been used by retail or restaurant tenants. By offering below-market interest rates and flexible terms, the program aims to lower the barriers to entry for the first tenants occupying a commercial space.  

The initiative will help attract new businesses, stimulate economic activity, and support the vibrant, walkable neighborhood. Loans are available to property owners within the 195 District for improvements that are not unique to a specific tenant.  Projects that demonstrate the greatest overall impact for the District will be prioritized. The program is being administered by the Rhode Island Commerce Corporation. Learn more about the project here, read the full press release here and an article from the Providence Journal here.