R.I. looks to ease lending crunch

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By William Hamilton
PBN Staff Writer

“I’M NOT PUTTING the state in the business of guaranteeing loans, that’s what SBA does,” Gov. Donald L. Carcieri said. “But there are things we can do to top that up a little bit.”

PROVIDENCE – The Carcieri administration and state economic development officials met yesterday with top executives from many of the state’s banks and credit unions to start developing a state-assisted plan to ease the credit crunch for local businesses.

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