Sponsoring Agency: Rhode Island Commerce
Type of Fund: Grant
Deadline Available: Available
Deadline Date (mm/dd/yyyy): 04/30/2021
Size of the Fund: Less than USD $50,000
The Rhode Island Small Business Relief Grant Program provides grants of $5,000 for Rhode Island small businesses that have suffered financially due to COVID-19. 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.
Eligibility Criteria
To be eligible at this time, applicants must:
• Have been adversely economically injured due to the COVID-19 public health emergency in one or more of the following ways:
o Required to close or restrict operations or capacity by an Executive Order;
o Indirectly impacted by a required closure or significant restriction of a client or customer; or
o Experienced decreased consumer demand as a result of the pandemic.
• Demonstrate that they have a COVID-related net financial need of $5,000 or greater.
• Have gross receipts or sales not exceeding $1 million in 2020.
• Not be in one of the following ineligible industries: elementary or secondary schools; child care providers; institutions of higher education; landlords/real estate companies; public or private foundations; and government-owned entities or elected official offices.
• Be a for-profit business. This includes Sole Proprietorships, Partnerships (LPs and LLPs), C Corporations, S Corporations, B Corporations, Cooperatives, and Limited Liability Companies (LLCs). Non-profits are not eligible at this time.
• Have annual business revenue of at least 20% of total annual income (sole proprietors only).
• Have been an established business in the state of Rhode Island prior to 1/1/21.
• Not be engaged in any activity that is illegal under Federal, State, or Local law are ineligible.
• Have a physical presence in Rhode Island.
• Be a viable business that is not permanently closed (meaning it is either open or temporarily closed).
• Not be on the federal “Do Not Pay”
• Not be in or planning to enter federal bankruptcy or state receivership.
• Not be owned by a nationally or regionally owned franchise. While nationally owned chain businesses are not eligible to apply, a business that is part of a regional or national franchise that includes franchisees with locations outside of Rhode Island, may apply unless the business is owned by a regional or national franchisor or chain OR is owned by an entity that is not headquartered in Rhode Island.
More information at: https://commerceri.com/ReliefGrant/
