PROVIDENCE, R.I. (AP) — Rhode Island would set up a loan program for veterans looking to start a small business in legislation introduced in the General Assembly.
State Sen. James Doyle proposed the idea last week.
The loan program would provide loans of up to $50,000 to veterans who apply. In all, $1 million in loans would be available a year. The program would be administered by the state’s Economic Development Corp.
Doyle, a Providence Democrat, says the proposal is intended to help veterans returning from overseas deployment and encourage small business in the state.