State
Healthcare practice financing in Rhode Island
The published Rhode Island record: who borrowed, how much, who is certified to bill, and which ownership rules apply
Direct answer
Rhode Island healthcare borrowers took 26 SBA 7(a) and 504 approvals worth $22.0 million in FY2025. Referral in Rhode Island means our funding partners see the request; every number a practice hears is written by a partner. Everything below comes from published FY2025 files: approvals by field, certification counts, and the Rhode Island rules themselves.
As of FY2025
Structure, licensure, and disclosure rules in Rhode Island
| Topic | What applies | Source |
|---|---|---|
| How an inquiry is handled | Referral. The inquiry is shared with our funding partners, and each partner contacts the practice directly with its own offer and its own disclosure. | Disclosures |
| Program availability | No product class is excluded in Rhode Island by our own rules. A funding partner still applies its own criteria. | Disclosures |
| Corporate practice of medicine | Applies in part. Rhode Island General Laws Section 7-5.1-3 limits professional service corporations to rendering services within a single enumerated profession, and the General Assembly introduced a Ban on the Corporate Practice of Medicine Act in 2026 that had not been enacted as of this review. | State statute |
| Management services organizations | Conditional. Rhode Island's existing professional corporation statute constrains ownership structure, and pending 2026 legislation would further regulate management services organizations if enacted. | Rhode Island Board of Medical Licensure and Discipline |
| Medical director requirement | Not verified from an official Rhode Island source. The state board and healthcare counsel are the places to settle this. | None |
| Certificate of need | Rhode Island operates a Determination of Need program administered by the Department of Health's Office of Health Systems Development covering new institutional health services and equipment. | State program |
| Commercial financing disclosure law | No commercial financing disclosure law verified for Rhode Island. A funding partner still states its own terms in writing at the offer stage. | None |
Every column above shows the official source it came from. This is a reading of published Rhode Island material, not legal advice, and counsel should confirm it against the entity being funded. Verified
SBA 7(a) and 504 activity in Rhode Island by healthcare field
| Field | Loans | Total approved | Average | 7(a) / 504 |
|---|---|---|---|---|
| Residential care and treatment | 4 | $11.0 million | $2.8 million | 3 / 1 |
| Home health and hospice | 3 | $3.3 million | $1.1 million | 3 / 0 |
| Physician and specialty offices | 4 | $3.0 million | $737,500 | 4 / 0 |
| Dental offices | 3 | $1.9 million | $624,667 | 2 / 1 |
| Behavioral health and ABA | 3 | $1.2 million | $416,000 | 2 / 1 |
| Physical, occupational, and speech therapy | 4 | $1.0 million | $258,875 | 4 / 0 |
| Laboratories and imaging | 1 | $284,000 | $284,000 | 1 / 0 |
| Veterinary practices | 1 | $235,000 | $235,000 | 1 / 0 |
| Optometry offices | 1 | $59,000 | $59,000 | 1 / 0 |
| Chiropractic offices | 1 | $50,000 | $50,000 | 1 / 0 |
| Med spa and personal care | 1 | $15,000 | $15,000 | 1 / 0 |
Source: SBA 7(a) and 504 approval files, fiscal year 2025. Verified
Where in Rhode Island the approvals were actually written
| City | Loans | Approved | Average |
|---|---|---|---|
| Warwick | 2 | $6.0 million | $3.0 million |
| COVENTRY | 2 | $5.0 million | $2.5 million |
| WARWICK | 3 | $3.3 million | $1.1 million |
| WESTERLY | 2 | $2.8 million | $1.4 million |
| MIDDLETOWN | 2 | $1.5 million | $761,750 |
| NORTH PROVIDENCE | 1 | $895,000 | $895,000 |
| Middletown | 1 | $702,000 | $702,000 |
| North Providence | 1 | $372,000 | $372,000 |
| Providence | 1 | $250,000 | $250,000 |
| NARRAGANSETT | 1 | $246,500 | $246,500 |
| TIVERTON | 1 | $235,000 | $235,000 |
| West Warwick | 1 | $222,000 | $222,000 |
| JOHNSTON | 3 | $175,000 | $58,333 |
| EAST PROVIDENCE | 1 | $131,000 | $131,000 |
| North Kingstown | 1 | $100,000 | $100,000 |
| CRANSTON | 1 | $59,000 | $59,000 |
| Coventry | 1 | $40,500 | $40,500 |
| PROVIDENCE | 1 | $15,000 | $15,000 |
Warwick leads Rhode Island with $6.0 million across 2 approvals, $3.0 million each, which is the comparable set an appraiser reaches for on a purchase there. Verified
Certified and enumerated providers in Rhode Island
| Category | Count | Dataset |
|---|---|---|
| Medical equipment suppliers | 182 | CMS certification, 2026-09-06 |
| Home health agencies | 22 | CMS certification, 2026-09-06 |
| Ambulatory surgical centers | 16 | CMS certification, 2026-09-06 |
| Dialysis facilities | 16 | CMS certification, 2026-09-06 |
| Hospice providers | 11 | CMS certification, 2026-09-06 |
| Enumerated clinicians | Not yet loaded | NPPES registry |
Categories CMS does not certify in Rhode Island do not appear. A dataset that has not been read yet is labeled, not filled in. Directional
Which Rhode Island counties hold the certified providers
| County | Certified providers |
|---|---|
| Providence | 11 |
| PROVIDENCE | 5 |
| KENT | 4 |
| Kent | 2 |
| Washington | 2 |
| Newport | 1 |
| NEWPORT | 1 |
| - | 1 |
Providence leads Rhode Island with 11 certified providers, ahead of PROVIDENCE at 5. Concentration decides whether an underwriter has local precedent or has to build the case from the practice's own collections. Verified
Practice counts in Rhode Island, by field
| Field | Establishments |
|---|---|
| Physician and specialty offices | 584 |
| Residential care and treatment | 383 |
| Dental offices | 344 |
| Behavioral health and ABA | 213 |
| Physical, occupational, and speech therapy | 183 |
| Medical staffing | 146 |
| Home care, non-medical | 137 |
| Med spa and personal care | 107 |
| Chiropractic offices | 104 |
| Veterinary practices | 99 |
| Home health and hospice | 92 |
| Laboratories and imaging | 88 |
| Other outpatient care centers | 78 |
| Optometry offices | 70 |
| Dialysis facilities | 16 |
| Medical equipment suppliers | 3 |
The base to finance in Rhode Island is 2,647 establishments, with physician and specialty offices the largest block at 584. The ratio of 1.0 per 100 says most Rhode Island practices funded whatever they funded outside this program. Verified
County concentration across Rhode Island
| County | Establishments |
|---|---|
| Providence | 1,541 |
| Kent | 525 |
| Washington | 294 |
| Newport | 163 |
| Bristol | 101 |
No Rhode Island county carries more of the base than Providence, with 1,541 establishments. Where the base thins out, expansion is a build rather than a purchase, and the capital request changes shape with it. Verified
The Rhode Island wage base behind a payroll forecast
| Occupation | Employed | Mean annual wage |
|---|---|---|
| Nursing assistants | 10,220 | $46,440 |
| Registered nurses | 10,090 | $100,640 |
| Licensed practical and vocational nurses | 1,290 | $80,090 |
| Dental assistants | 1,050 | $50,150 |
| Physical therapists | 1,020 | $99,400 |
| Dental hygienists | 770 | $86,910 |
| Veterinary technologists and technicians | 530 | $45,310 |
| Veterinarians | 430 | $126,570 |
| Dentists, general | 360 | $161,560 |
The largest tracked occupation in the state, nursing assistants, 10,220 employed at $46,440 mean. Payroll is the biggest line in most Rhode Island practice budgets, so a forecast that ignores the local wage is a forecast a funder discounts. Verified
Where Rhode Island is federally designated as underserved
| County | Designations | Highest HPSA score |
|---|---|---|
| Providence | 372 | 25 |
| Washington | 59 | 20 |
| Newport | 50 | 25 |
| Bristol | 21 | 0 |
| Kent | 10 | 25 |
| Not Determined | 6 | 0 |
Counted across mental health, primary care, dental, Rhode Island holds 441 designations. Where a county is designated, hiring incentives exist that a recruiter can use, and a ramp schedule stops depending on an assumption. Verified
Each Rhode Island field, read against its own average
- Residential care and treatment: $2.8 million average across 4 Rhode Island approvals worth $11.0 million, so a request in that range reads as routine rather than exceptional.
- Home health and hospice: 3 closings, $3.3 million approved, $1.1 million typical. That average is the reference point a Rhode Island credit committee starts from on a similar file.
- Physician and specialty offices: 4 closings, $3.0 million approved, $737,500 typical. That average is the reference point a Rhode Island credit committee starts from on a similar file.
- Dental offices: 3 Rhode Island approvals totaling $1.9 million, $624,667 each. With only 3 Rhode Island approvals behind $1.9 million, the underwriter reads documents rather than precedent.
- Behavioral health and ABA: $416,000 on average, 3 approvals, $1.2 million in total. Match $416,000 and the timeline is ordinary; ask well above it and the Rhode Island diligence list lengthens.
- Physical, occupational, and speech therapy: 4 approvals, $1.0 million, $258,875 average. A Rhode Island request near $258,875 sits inside the band 4 approvals already established.
- Laboratories and imaging: $284,000 average across 1 Rhode Island approvals worth $284,000, so a request in that range reads as routine rather than exceptional.
- Veterinary practices: $235,000 on average, 1 approvals, $235,000 in total. Match $235,000 and the timeline is ordinary; ask well above it and the Rhode Island diligence list lengthens.
- Optometry offices: $59,000 on average, 1 approvals, $59,000 in total. Match $59,000 and the timeline is ordinary; ask well above it and the Rhode Island diligence list lengthens.
What Rhode Island practices are actually funding
- Dollar volume in Rhode Island concentrates in residential care and treatment: 4 approvals, $2.8 million on average, 50 percent of the state's healthcare total. At that size the underwriting question is collections history and lease term, which means the documents worth assembling before an inquiry are the last 3 years of returns and the lease.
- Home health and hospice follow at 3 approvals and $3.3 million, then physician and specialty offices at 4. Where a field shows steady volume, a lender in Rhode Island already holds paper on practices like it, and the credit memo has somewhere to point.
- Certification files put 182 medical equipment suppliers in Rhode Island. Where that base is deep, growth capital tends to fund acquisitions; where it is shallow, it funds the wait for a license.
- Rhode Island shows 3 approvals on the 504 side. That program funds buildings, so the count is a rough read on how many practices here stopped renting, and it tells an owner weighing a purchase that the debenture route closes in this state.
Programs referred in Rhode Island
Official Rhode Island programs and regulators
- Rhode Island Board of Medical Licensure and Discipline, licensure and ownership questions for physicians
- Rhode Island Board of Examiners in Dentistry, licensure and ownership questions for dentists
- Rhode Island has no verified state repayment scheme, state lending program, or financing disclosure regulator on file here
Micro-markets in Rhode Island
| Town | Population | Providers on file |
|---|---|---|
| East Providence | 47,961 | 335 |
| Newport | 24,482 | 179 |
| Woonsocket | 44,508 | 339 |
| Cranston | 84,448 | 673 |
| Pawtucket | 76,996 | 608 |
| Central Falls | 23,034 | 47 |
Where to read next
- All states covered
- Every financing program
- Texas healthcare practice financing, for a second reading of the same datasets
- Washington healthcare practice financing, the nearest comparable record to this one
- Alabama healthcare practice financing, if the practice operates across the line
- Telehealth and virtual clinics, and where the collateral usually comes from
- Medical transcription, coding, and credentialing services, with the capital events that field actually runs
- Plastic and cosmetic surgery, read on the terms that field is underwritten on
- Fertility and IVF, and where the collateral usually comes from
- Concierge and direct primary care, and where the collateral usually comes from
- Sleep centers, and the revenue mix a funder checks first
Questions Rhode Island owners ask
01Who receives a request submitted from Rhode Island?
Order of operations in Rhode Island: rules first, then matching on product class and practice type, then an introduction to our funding partners. They quote and disclose; nothing is billed to the practice.
02How many SBA approvals reach practices in Rhode Island?
The published 7(a) and 504 file records 26 approvals to Rhode Island healthcare borrowers worth $22.0 million in FY2025, an average of $847,481. Residential care and treatment took the largest share at 4 approvals. The file counts approvals only, so it shows nothing about declines or withdrawn requests.
03How does the corporate practice doctrine work in Rhode Island?
Rhode Island General Laws Section 7-5.1-3 limits professional service corporations to rendering services within a single enumerated profession, and the General Assembly introduced a Ban on the Corporate Practice of Medic. Rhode Island's existing professional corporation statute constrains ownership structure, and pending 2026 legislation would further regulate management services organizations if enacted. The clinical entity and the management company are underwritten as one picture, so gather the Rhode Island paperwork for both. Healthcare counsel in Rhode Island confirms whether it stands.
04How does certificate of need affect a Rhode Island expansion?
Rhode Island operates a Determination of Need program administered by the Department of Health's Office of Health Systems Development covering new institutional health services and equipment. Where the requirement bites, the Rhode Island timeline stretches. Lenders wait on the approval, and the interim cost of holding the site belongs in the budget.
05How many CMS-certified providers are in Rhode Island?
CMS certification files list 247 certified providers in Rhode Island across 5 tracked categories, led by medical equipment suppliers at 182, vintage 2026-09-06. Certification is a billing license, so the figure stands in for how many Rhode Island operators already hold payer revenue.
Sources
- 1SBA 7(a) and 504 approvals, FY2025
- 2CMS provider certification files
- 3NPPES provider registry
- 4County Business Patterns 2022
- 5BLS Occupational Employment and Wage Statistics, OEWS 2025
- 6HRSA health professional shortage area file
- 7Rhode Island corporate practice rules
- 8Rhode Island certificate of need
- 9Rhode Island Board of Medical Licensure and Discipline
- 10Rhode Island Board of Examiners in Dentistry
Describe the Rhode Island file
Name the capital event in Rhode Island, and the request goes to the partners active in that class