PROVIDENCE, R.I. (WPRI) — The Rhode Island Black Business Association (RIBBA) will soon have a brand new home.

RIBBA, which advocates for and supports the state’s Black-owned small businesses, celebrated the acquisition of its new headquarters Monday.

The new headquarters will be located on Smith Street, just around the corner from the Rhode Island State House.

“The purchase of these new offices is both an investment in our organization’s future and our community,” RIBBA President Lisa Ranglin said. “The hard work and commitment of our staff, board of directors, partners and members allowed us to make this acquisition from a position of growth and strength. We are excited about what this means for our members and community.” 

Sens. Jack Reed and Sheldon Whitehouse each secured $1 million and $500,000 in federal funding respectively to help RIBBA expand its programming, services and outreach. The capital city and Rhode Island Foundation also gifted 135,700 each to the organization.

“From this new Smith Street headquarters, the Rhode Island Black Business Association will now have the space to significantly expand the resources it provides Black entrepreneurs and small business owners,” Whitehouse said. “That additional support will pay dividends for the community through jobs created and business growth.”

The new headquarters “will serve as an Equity Business Hub for local small businesses and professionals, offering co-working space and a state-of-the-art training facility for RIBBA members and partners,” according to Reed.

“This is about strategically supporting and empowering Rhode Island’s Black entrepreneurs and startups in a way that expands opportunity and builds successful businesses,” Reed said. “Whether it’s dealing with barriers such as lack of capital investment, or overcoming other hurdles, RIBBA can help new businesses navigate the process and grow from seed to bloom.”