Business Resources

We offer number of new programs, resources, incentives, and initiatives to help our local businesses, including:

 

Financial Literacy Training

We now offer the FDIC Smart Money for Small Business (MSSB) financial literacy program series starting June 2017- Classes are offered in Spanish and English. The first of 13 modules, Is Owning A Business the Right Fit for You? will be offered 6/7 (Spanish) and 6/12 (English). To register or for more information see- To register for class in English- via Eventbrite https://goo.gl/ISfJYG  or contact mallio@centralfallsri.us or 401-616-2482. To register for class in Spanish- via Eventbrite https://goo.gl/N69CRF  o contacto mjbatlle@uri.edu o 401-490-0378.

 

Facade Improvement Program

We offer a Facade Improvement Program that provides matching grants (70/30) to business and property owners located primarily on Broad and Dexter Streets who are making investments in external physical improvements to their  business property and buildings.

 

Broad Street 2.0 Regeneration Initiative 

Central Falls, Pawtucket, and Cumberland are the recipients of an $11M DOT grant to upgrade the infrastructure of Broad Street, one of our two main commercial thoroughfares that run right through the City. Planning has just begun with work expected to begin in 2018- for more information and to participate in the process, see www.mybroadstreetri.com.

 

HUBZone

The Historically Underutilized Business Zones (HUBZone) program, administered by the U.S. Small Business Administration, fosters economic development in underutilized and underdeveloped areas by encouraging federal agencies to sign contracts with businesses located in HUBZones. Central Falls qualifies as a HubZone.

 

Capital Access

In addition to our resident banks with physical locations in Central Falls (Navigant Credit Union and Bank of America), we maintain relationships with a number of traditional lenders in Pawtucket and beyond. We have also established relationships with a number of alternative lenders, most of whom are a part of Commerce RI’s Small Business Assistance Program. These include:

Let us help you find the capital you need to start or grow your business!

 

E-permitting

We have joined the State of Rhode Island’s e-permitting initiative, and starting August 1, 2017 you will now be able to process all of your fire and building permitting needs using our new Viewpoint online platform from your own computer with online access, or at our kiosks located at the Fire Department and Department of Code Enforcement.

 

Economic Expansion Incentive Program

To recognize and reward job creation and additional investments in property, plant, and equipment, we encourage business owners to explore the tax rebate benefits associated with this initiative, which rewards business owners with long-term abatements on property and tangible tax. Additional credits are offered for historic rehabilitations and hiring local residents.

 

C-Pace Program

We have also joined the new program offered through the Rhode Island Infrastructure Bank, offering a progressive no cash up-front 100% financing vehicle for business owners who invest in plant upgrades or new installations that are environmentally-friendly or energy efficient. Personal guarantees are not required and participation in the program can be transferred to new owners should the business and property change hands.

 

Other Business Resources

Our Office of Planning and Economic Development maintains numerous partnerships, alliances, and relationships to help our business community. These include:

Chambers and Business Associations

  • Business Owners Meetings- Central Falls-based business owners (new and old) are welcome to join the bi-monthly Central Falls Business Owners Meeting hosted by Navigant Credit Union at 693 Broad Street. These gatherings feature networking, special speakers and forums of interest to the community, and usually take place on Wednesday evenings from 6-8PM.  Contact Angie Rivera for more information at (401) 233-3607 or by e-mail at arivera@navicantcu.org.
  • Northern Rhode Island Chamber of Commerce- well established chamber serving Northern Rhode Island communities, including Central Falls, Pawtucket, Cumberland, Lincoln, North Smithfield, and more. See http://www.nrichamber.com/
  • Hispanic Chamber of Commerce- newly established in 2017, this group represents a coalition of Latino-owned small businesses.
  • Laboral Fuerza/POWER Network- grass roots organization leading the way in establishing workers’ cooperatives in Rhode Island. See https://www.fuerza-laboral.org/.

 

Other Business Resources and Alliances

 

Community Partners

 

Arts/Education/Creative

 

Financial Literacy Resources

In addition to the financial literacy series offered by the City of Central Falls Office of PED, here are other resources who offer training and special programs focusing on financial self-sufficiency, housing, home ownership, and credit-building, and other needs:

 

Training and Workforce Development

 


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