PROVIDENCE, R.I.—Ten small businesses in Rhode Island have been approved for state loans totaling $2.4 million.
Officials with the state Economic Development Corporation say the funding, through the Small Business Loan Fund, is expected to help create nearly 200 jobs.
The first company to close on its $250,000 loan was a medical IT firm in Warwick that is expanding in Rhode Island. Officials said the financing will allow the firm, which currently has 34 employees, to create 10 new positions.
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