BankNewport Launches SHOP401™ to Support Rhode Island’s Small Businesses

NEWPORT, R.I. (May 9, 2025) – BankNewport is proud to announce the launch of SHOP401™, a new marketing initiative across Rhode Island designed to uplift small businesses by encouraging Rhode Islanders to shop local.

As the #1 SBA lender in Rhode Island, BankNewport continues its legacy of local investment by helping business customers grow, thrive, and connect with the communities they serve. SHOP401™ underscores BankNewport’s focus and passion for Rhode Island’s businesses. At its core, the initiative encourages shopping locally, investing in neighbors, and recognizes the entrepreneurial spirit driving the Ocean State.

Through promotions, social media features, and strategic partnerships with the SBA, chambers of commerce and Skills for Rhode Island’s Future, the program aims to drive valuable support to local businesses in the form of visibility, patronage, and tangible support.

Jack Murphy, President & CEO of BankNewport says, “we believe small businesses are the heart of our local economy—and the backbone of our communities. You are innovators, risk-takers, and job creators. Whether it’s through increased visibility, access to resources, or creating stronger community connections, our goal is to be more than just a bank. We are a true partner, celebrating everything that makes our local business community unique.”

BankNewport prides itself on providing everything businesses need to grow including banking, lending, digital services, and dedicated small business resources to provide concierge level service. SHOP401™ reflects BankNewport’s mission to be a true partner, not just a provider, for the small business community—empowering business owners to make informed decisions at every stage.

Follow along on social media @BankNewport to meet the featured businesses and discover new ways to support Rhode Island’s small business community.