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Announcement: The RI Small Business Relief Grant Program opens today!
.png "Announcement: The RI Small Business Relief Grant Program opens today!")
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As an outreach partner with the State of Rhode Island’s Commerce Department, we are happy to announce the next grant program for small businesses will become available for applications today.
Some details about the RI Small Business Relief Grant Program are as follows:
The program provides grants of $5,000 for RI small businesses that have suffered financially due to COVID-19.
This program is designed for small businesses. Applicants must:- Be small Rhode Island-based, for-profit businesses with less than $1M in 2020 “gross receipts or sales”.
- Demonstrate that they have a COVID-related net financial need of $5,000 or greater. This will be calculated by subtracting the total amount of COVID related grants or financial assistance received for 2020 from the total drop in gross receipts from 2019 to 2020. Businesses who do not meet the $5,000 requirement may also add COVID-related increased costs or expenses.
Applications will open TODAY, Thursday, April 15th at 3p.m. and will remain open for applications on a first-come, first-served basis through Friday, April 30th 2021 at 5p.m. Grant funds may be used to pay for: - Wages and/or salaries of employees to avoid furloughs or layoffs;
- Operational costs incurred to enable the business to remain open through the state of emergency; or
- Facilitating the reopening of the business if the business was unable to remain open for a portion of the state of emergency.
The Greater Newport Chamber of Commerce will also be hosting weekly, virtual informational office hours to all small businesses seeking guidance about this grant application process. The first session will take place on Monday, April 19th at 10a.m. Registration is required and can be found here. For assistance in registering, please email Kate@newportchamber.com
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