[August 3, 2023] South Eastern Economic Development (SEED) Corporation has been awarded a $4.5 million loan from RI Commerce Corporation under the State Small Business Credit Initiative (SSBCI). Funding for this program was made available through the reauthorization and amendment of the Small Business Jobs Act of 2010 (SBJA) by the American Rescue Plan Act (ARPA) of 2021 in order to provide $10 billion to fund the SSBCI as a response to the economic effects of the COVID-19 pandemic. This is a federal program administered by the Department of the Treasury that was created to strengthen state programs that support private financing to small businesses.
[April 6, 2022] The Inclusive Recovery Grant Program will provide up to $75 million in funding through grants of up to $75,000 for businesses owned by people of color, women, veterans, immigrants, individuals with disabilities, or those who identify as part of the LGBTQ+ community; businesses that focus on reaching markets predominantly made up of socially and economically disadvantaged and historically underrepresented groups; and other underserved markets.
[December 8, 2022] SEED's 40th Annual Meeting was held on December 8th at White's of Westport and included the presentation of the 2022 Business of the Year, Start-Up Business of the Year, and Regional Business Advocate of the Year. Click the link to see the winners!
[November 30, 2022] In 2022, the South Eastern Economic Development (SEED) Corporation made 68 small business loans totaling $17.8 million and assisted in the creation of 398 new jobs. These loans were either made in participation with the region’s financial institutions to meet a financing gap, or as direct loans to small businesses not able to obtain conventional financing.
[November 18, 2022] SEED is extremely proud to announce that Lisa Holmes, Senior Vice President, Lending Team Leader, has been named the 2022 CDC Employee of the Year by the National Association of Development Companies (NADCO)! Selected from a pool of candidates nationwide, Lisa is being presented this award for exemplifying exceptional leadership, a strong team mentality, and an expertise in small business lending that has elevated her organization, colleagues, and clients. She was formally recognized this week at NADCO's 2022 conference in Denver, Colorado.