Businesses now eligible for up to $30K through Restore RI Grant Program

Business News

PROVIDENCE, R.I. (WPRI) — On Thursday, Gov. Gina Raimondo and R.I. Commerce announced major expansions to the Restore RI Grant Program that will be implemented starting next week.

Businesses will now be able to receive up to $30,000, doubling the original grant sizes. Non-profit organizations and private child care facilities that have not received other CARES Act funding opportunities are now eligible to apply.

Applicants who have already received grants and have expenses still not covered will be eligible to request additional funding. R.I. Commerce plans to hold an information session on these changes on Oct. 20 at 10:30 a.m.

“This pandemic has been devastating for our small businesses, which we know are the lifeblood of Rhode Island’s economy,” Raimondo said. “It’s critical that we provide more financial resources to these businesses as they work to stay afloat and navigate this storm.”

More than 1,400 businesses have already received grants totaling more than $11 million since the program began accepting applications in August. Additionally, hundreds of businesses are still working their way through the application process.

“In addition, we are establishing a new program for businesses that need to change direction or adapt significantly in order to make it through this crisis,” R.I. Commerce Secretary Stefan Pryor said.

Rhode Island companies whose businesses have been significantly impacted due to the pandemic can apply for Business Adaptation grants of up to $50,000. The program is being funded through the states Coronavirus Relief Fund and is capped at $1.8 million.

Additional information on the Business Adaptation Grants will be available online in the coming days and R.I. Commerce staff will hold information sessions and Zoom office hours to answer questions.

R.I. Commerce also announced they are partnering with the R.I. Foundation to support local nonprofits with direct service programs responding to vulnerable individuals and/or communities. The program is funded through the state’s CARES Act and will provide grants of approximately $15,000 to $75,000.

Additional information and applications are available on the R.I. Foundation website and will be considered on a rolling basis through Oct. 30.

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