NECTAR COMMUNITY INVESTMENTS PROVIDES FIRST LOANS TO RHODE ISLAND BUSINESSES
Nectar Community Investments, a community development financial institution (CDFI), today announced its first set of financings for four Providence small businesses: Dolce & Salato, Ja Patty, Nuñez, and Stack House. All four businesses are using the funds to make a positive impact in the community by opening new spaces, expanding their operations or renovating existing facilities.
“Rhode Island is a dynamic state with a thriving small business landscape, and we’re excited to join the ecosystem and offer our skills and resources to its innovative entrepreneurs,” said Nectar Executive Director Glynn Lloyd. “We look forward to watching Dolce & Salato, Ja Patty, Nuñez and Stack House continue to grow and become anchors of their Providence neighborhoods.”
Nectar specializes in providing flexible growth capital, technical assistance, and strategic advisory services to small business owners and homeowners in historically disinvested communities. In various reports, Rhode Island-based researchers had identified gaps in the state’s economic ecosystem for this type of support, so Nectar joined forces with ecosystem collaborators in early 2024 to expand our network and increase awareness of new capital opportunities for small businesses. Nectar received crucial support from the Rhode Island Foundation to expand its investments into the state, and the organization has collaborated closely with the Rhode Island Small Business Development Center, the Hispanic Chamber of Commerce, and other local and statewide organizations to direct these resources. Those collaborative efforts led to the four loan closings and several more in the pipeline.
Dolce & Salato used loan funds to open its new Italian restaurant on Douglas Avenue. Chef and owner Armando Bisceglia has broad experience in the hospitality industry and deep ties to the Providence community, as he has worked closely with MS Dream Center of RI, a local nonprofit that assists patients of multiple sclerosis and their caregivers, and most recently with Accessible RI, a guide created with the intent of providing people with disabilities a list of easily accessible places like libraries, parks and restaurants. Armando also works with the Gloria Gemma Breast Cancer Resource Foundation in memory of his sister Rosaria, who passed away at the age of 36 after battling breast cancer.
“Thanks to Nectar, we were able to start our restaurant without skipping a beat,” said Armando and Gabriella Bisceglia. “As we get close to the end of our first year, we don’t know how we were going to do it without it. We recommend it to anyone who is looking for financial support.”
Ja Patty, which serves Jamaican patties and rice bowls in Providence, used loan funds to open its new restaurant on Westminster Street. “We appreciate Nectar for its support in helping us secure the funding needed to grow our business,” said Ja Patty cofounders Alison Rosario and Conroy Outar. “We’re grateful for the opportunity to continue building our vision with their assistance.”
Nuñez is an anti-racist creative marketing agency in Providence serving progressive causes, companies, and candidates. Co-founded and run by Ray and Taryn Nuñez, the agency leveraged loan funds to hire three part-time staff members, expanding the business and reaching more clients.
“Securing funding as a diverse-led business isn’t easy. After being passed up by multiple funders, we found Nectar Community Investments — a partner that saw the value in our mission, team, and impact,” said Ray Nuñez. “With their support, we scaled our team and expanded our services, allowing us to continue helping nonprofits and mission-driven brands connect with diverse audiences. Nectar’s investment wasn’t just capital—it was a vote of confidence in the future we’re building. We’re grateful for a funder that truly understands the power of community, culture, and impact.”
Established in 2020, Stack House is a Black-owned business that serves brunch, fried chicken and other Southern classics in Kingston. Founder Edmund Addai won the 2024 Rhode Island Young Entrepreneur of the Year, and the company partners with Rhode Island FC — Rhode Island’s newest and only professional soccer team — to provide nutritious, high-quality post-match and post-training day meals for the team and staff. Stack House is using loan funds to renovate space for a new location in Providence, which is scheduled to open in early summer.
“Nectar has lent a tremendous hand in Stack House’s growth and future,” said Eddie Addai. “Without Nectar’s investment, we would have been at a standstill in business growth. Thank you for your continuous support, believing in our mission and giving us the opportunity to scale our business.”
About Nectar Community Investments
Nectar Community Investments is a certified CDFI and CDC that provides flexible growth capital, technical assistance and strategic advisory services to small business owners and homeowners in historically disinvested communities. Our purpose is to build generational wealth to close the racial wealth gap. With our robust advice, resourced networks and capital investment, we aim to grow sustainable, thriving and diverse communities driven by equal access and opportunity. Established in 2022 through the merger of Mill Cities Community Investments and the Foundation for Business Equity, Nectar has provided $29.7 million in small business and residential loans, supporting more than 500 businesses and nearly 1,000 homeowners.
