Start, Grow, Scale!, a capital readiness program partnership of Skills for Rhode Island’s Future (SkillsRI) and The Business Development Company (BDCRI) entity that serves as State Small Business Credit Initiative (SSBCI) is designed to strengthen socially and economically disadvantaged small businesses by accessing working capital.
The Capital Readiness Program, facilitated by the Minority Business Development Agency (MBDA), is a comprehensive initiative designed to equip minority-owned businesses with the essential skills and resources needed to navigate and secure capital for growth and sustainability.
Through a series of workshops, one-on-one counseling sessions, and networking opportunities, the program guides participants in understanding the various forms of capital available, improving financial literacy, and developing robust business plans that attract investors.
By focusing on enhancing financial acumen and fostering strategic partnerships, the Capital Readiness Program empowers minority entrepreneurs to effectively access the capital necessary to scale their businesses and compete in today's dynamic marketplace.
Capital Readiness Program (CRP)*
From start-ups to scaling stages, small businesses will have access to millions of dollars in investments to make small business ownership a viable path to economic mobility. Start, Grow, Scale! is built on the belief that credit scores and financial fitness alone should not solely determine who secures capital, but rather, capital funding for SEDI businesses should be built on a relationship of trust, understanding and support.
In this program, you will gain the following:
- Understand your readiness to manage your own business
- Understand your readiness to borrow money
- Understanding the fundamentals of financial management and its impact on your small business
- Understand your credit score, what affects it and what you can do to manage it
- Understand the different lending institutions and the different types of credit available
- Understand when borrowing makes sense and when it doesn’t
- Understand the technical assistance available to get you "capital-ready"
Contact:
To get started, contact Merrie Bautista at mbautista@skillsforri.com, or call us at 401-249-2222.
Resource links:
Disclaimer:
* Please be advised that small businesses seeking capital readiness services may be required to consent to a credit check as part of the assessment process. We do not discriminate based on credit history or score, and we do not require a minimum credit score to access our services or to apply for a loan. Our goal is to support all small businesses, regardless of credit standing, in their efforts to achieve financial stability and growth.
This credit check will be conducted in accordance with applicable credit reporting laws and is intended solely for the purpose of providing fair and accurate credit counseling services. By proceeding with our services, you acknowledge and agree that your credit information may be reviewed to assist in the development of personalized financial strategies and to enhance your business's access to capital.
CRP PROGRAM PILLARS
Capacity Building:
Technical assistance services and curricula to assist with launching and developing scalable and investable businesses.
Access to Capital:
Technical assistance to apply for state SSBCI programs and/or other similar federal, state, or local government programs that promote American entrepreneurship and democratize access to startup capital across the country. Including the facilitation of investor meetings, pitches, demo days, crowdfunding, and other capital introduction events.
Access to Networks:
Resources and programs that help connect minority and other underserved entrepreneurs to a larger community of business mentors, coaches, service providers, subject matter experts and peers who understand and address specific challenges.
