Head of RI Black Business Association Rips Raimondo and Commerce for Lack of Support
Wednesday, October 25, 2017
"The Governor has been talking a lot about small business development here in Rhode Island, but as President of Rhode Island Black Business Association, our organization has yet to see any significant investment to advance Black Business development in our State. The $100k grant from Rhode Island Commerce Corp, while it is appreciative is not enough to build capacity. $1MM is a step in the right direction. Millions of dollars have gone to large corporations, we demand more for Small Businesses and Black Businesses must be included as a priority in the strategy for growth/Job Creation. Black Businesses create jobs too!!," wrote Ranglin.
Ranglin has been one of the most vocal advocates for small businesses in Rhode Island. Despite the lack of state support, Ranglin cited how her organization is working with minority-owned businesses despite the lack of support.
RIBBA Results: RIBBA MICRO-LENDING INITIATIVE
"In 2017, our client businesses experienced rapid growth in revenues created over 50 new jobs. Through our new Micro-lending Initiative, through this initiative, we will continue to increase the profitability and job creation capabilities of black-owned and minority-owned businesses. As we reach larger numbers of small businesses, the impact of carefully structured technical assistance coupled with increased access to capital is expected to begin to have an observable impact on minority-owned micro-businesses in Rhode Island," reports Ranglin.
"We are confident that our innovative loan products and customized technical assistance will stimulate more small minority businesses to experience rapid growth and to create more jobs," said Ranglin.
Related Slideshow: Who is Getting Money from Commerce - May, 2017
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