The Commercial Real Estate Division of Bank Rhode Island (BankRI) has closed a deal with 180 GMC, LLC to provide $10.5 million in financing for the acquisition and conversion of the former Tockwotton building in Providence.
With the late summer traditionally a time of high need among Rhode Islanders struggling with hunger and now made worse by the rising costs of groceries, Bank Rhode Island (BankRI) has sent a total of $25,000 in funding to food programs across the state.
PROVIDENCE, R.I. – Beginning today, Bank Rhode Island (BankRI) is offering the community two ways to join its efforts to alleviate hunger in the Ocean State this summer. In addition to collecting nonperishable food items at all 20 of its branches statewide through August 19, BankRI will match the first $5,000 in donations made in support of the Rhode Island Community Food Bank’s online Summer Funds Drive.
A swim program that provides free lessons to Rhode Island children of color is among the grant recipients of Bank Rhode Island’s (BankRI) most recent charitable giving. In total, the bank has awarded $78,250 in funding to 30 local organizations. The grants ranged from $1,000 to $7,500.
In spring 2022, the Commercial Real Estate Division of Bank Rhode Island (BankRI) finalized a deal with Malibu Investments, LLC to provide a second round of financing for the expansion of 401 Storage in Warwick. The bank is providing $3.5 million in capital to facilitate construction.
With June serving as National Homeownership Month, Bank Rhode Island (BankRI) and Pawtucket Central Falls Development (PCF Development) are once again partnering to offer a no cost virtual workshop for first-time buyers.
Bank Rhode Island (BankRI) has made a significant investment in the community, awarding a total of $100,750 in charitable grants to nonprofits throughout the state. The grants were received by 28 organizations and will help to fund a wide range of initiatives, including children’s education, workforce development, arts-based programs, and human services. Awards ranged from $1,000 to $10,000.
Bank Rhode Island has grown the team of its Commercial Real Estate Division, hiring Maria Botelho as Vice President, Commercial Real Estate Lender. The seasoned banking professional joined the bank this spring and works out of its Downtown Providence headquarters in the Turk’s Head Building.
When Bank Rhode Island (BankRI) customers and staff have an opportunity to help the community, they never disappoint, and the bank’s recently-completed Children’s Book Drive was no exception. Held throughout the month of March at all 20 of BankRI’s branches, the effort in support of Books Are Wings led to 6,382 books for local kids.
Bank Rhode Island (BankRI) has named a new branch manager at one of its Warwick locations. The bank has promoted banking veteran Lynne DeSantis, who also calls the city home, to leads its Buttonwoods branch on West Shore Road.
Stacy Levin, the longtime manager of Bank Rhode Island’s (BankRI) East Greenwich branch, has been appointed president of the East Greenwich Chamber of Commerce Board of Directors. Levin assumed the leadership role at the end of February, and has served on the chamber’s board for five years.
Individuals and families across Rhode Island looking to become first-time homebuyers are invited to attend a no-cost, virtual workshop that will help introduce them to the planning and process of buying a home. Titled “Preparing for Homeownership,” the session will be held via Zoom on Tuesday, March 29 beginning at 5:30 p.m. It is being made available by Bank Rhode Island (BankRI) and Pawtucket Central Falls Development.
