Washington Trust Finances New Headquarters of Rhode Island Hispanic Chamber of Commerce

Financial Boost for the Rhode Island Hispanic Chamber of Commerce

In a significant move to bolster the Hispanic business community in Rhode Island, Washington Trust has approved financing of $800,000 for the Rhode Island Hispanic Chamber of Commerce. This funding is directed towards the acquisition of a historic property located at 359 Broad Street, Providence, which will serve as the new headquarters for the Chamber.

The property, popularly known as the James Potter House, is not only a beautiful example of Queen Anne architecture, built in approximately 1889, but it also holds historical significance as part of the Trinity Square National Historic District. This building was designed by the architectural firm Stone, Carpenter and Willson, and its transformation into the Chamber's headquarters marks an important milestone for both the organization and the surrounding community.

Oscar Mejias, the Chief Executive Officer of the Rhode Island Hispanic Chamber of Commerce, expressed his excitement about the new headquarters, stating, “This new headquarters is a testament to the continued growth and success of the Hispanic Chamber of Commerce in the state of Rhode Island and serves as a symbol of our unwavering commitment to serve the community and expand our reach.” He further emphasized gratitude towards the support that has made this dream a reality.

The financing agreement will not only facilitate the purchasing process of the historic property but also pave the way for the Chamber to enhance its services for Hispanic and minority-owned businesses in the area. This includes educational programs, networking opportunities, and resources that can help these businesses thrive and contribute significantly to Rhode Island's economy.

Washington Trust’s Chairman and CEO, Edward O. “Ned” Handy, also expressed pride in supporting the Rhode Island Hispanic Chamber of Commerce alongside its mission. He said, “We look forward to continuing to build strong relationships with the Chamber and its members, as we work together to promote and empower the growing Hispanic business community.” This statement reflects Washington Trust’s commitment to not just financial support but also community development.

The Rhode Island Hispanic Chamber of Commerce, incorporated under Chapter 7-6 of the General Laws of Rhode Island since May 19, 2016, has been a crucial entity in promoting, representing, and empowering the local Hispanic business community. The organization's mission aligns with creating pathways for business growth and establishing connections with corporate America, ultimately aiming for economic advancement and social inclusion.

As for Washington Trust, founded back in 1800, it holds the title of the oldest community bank in the United States and continues to be a leader among the Northeast's financial institutions. With a broad spectrum of offerings in commercial banking, mortgage banking, and wealth management, it provides essential services that cater to the diverse needs of individuals and businesses alike across Rhode Island, Connecticut, and Massachusetts.

This collaboration between Washington Trust and the Rhode Island Hispanic Chamber of Commerce is set to redefine business support frameworks, fostering an environment where Hispanic businesses can flourish. As Rhode Island witnesses substantial demographic and economic shifts, the establishment of the new headquarters symbolizes optimism and the potential for growth in the Hispanic business ecosystem. This strategic move not only affirms the Chamber's place within the community but also underlines the importance of inclusivity in economic development.

For more details on Washington Trust’s financial services or to explore partnership opportunities, interested parties can reach out to Jason Costa, Vice President of Business Banking, at 401-654-4852 or via email at [email protected]