$5,000 Pandemic Relief Grants Available To RI's Small Businesses

PROVIDENCE, RI — A new grant program is aimed at helping Rhode Island's small businesses cope with the financial challenges of the coronavirus pandemic. Qualifying businesses can receive up to $5,000.

"We know that rebuilding Rhode Island's economy will depend on rebuilding our small business economy," Gov. Dan McKee said. "Our team has been committed to advocating for the small business community since day one of this pandemic. Today, we continue that commitment in the Governor's office with the announcement of the Small Business Relief Grant Program within the first several weeks of our administration. We will continue to identify ways to provide relief to the small businesses who need it most."

The new program is funded by $20 million of the state's federal coronavirus relief funding. Applications will be open April 15 to 5 p.m. April 30. Grants will be awarded on a first-come, first served basis. Additional rounds of funding could be announced later, depending on availability of funds and demand.

Commerce Secretary Stefan Pryor called the grants a source of "modest but meaningful relief to our small businesses."

To qualify, businesses must be for-profit and based in Rhode Island. Businesses must have less than $1 million in gross receipts in the 2020 tax year and, to date, received less than $25,000 in state funding for pandemic relief.

Grant funding can be used to cover operational expenses for staying open, the cost of wages or salaries or costs associated with reopening after temporarily closing due to the pandemic.

"In the face of so many challenges over the past year, our small businesses have been resilient and innovative," said Sabina Matos, McKee's nominee for lieutenant governor. "These grants will hopefully provide a little relief to our small businesses while we work to get Rhode Islanders vaccinated and continue to incrementally open up our economy. I thank the Governor for his leadership on this issue and look forward to partnering with him in getting the word out across the state about this financial resource."

More information is available on the commerce department's website. Call 401-521-HELP for assistance with applications.