Business & Tech
Eligibility Expanded For Restore RI Small Business Grants
Sole proprietors, businesses with 50 employees or fewer and businesses with no employees can now apply for assistance.
More Rhode Island small businesses are eligible to apply for Restore RI grants to help recover from the coronavirus pandemic, Gov. Gina Raimondo announced Wednesday. Applications are still being accepted and processed for the program, which has distributed $7 million to more than 800 businesses so far.
In total, $100 million of the state's federal coronavirus stimulus funding has been earmarked for small businesses, which have been hit hard by the pandemic. Starting now, the state is expanding eligibility to include sole proprietors, other businesses with no employees and businesses with 50 employees or fewer. In addition, the required revenue lost has been lowered from at least 50 percent to 30 percent.
More information about the program and how to apply is available on the Department of Business' website.
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