National Grid, State offer assistance to businesses impacted by gas outage

With 97% of customers hit by the natural gas outage having their service restored as of Monday, National Grid and the State are turning their attention to small businesses impacted by the crisis.

Governor Gina Raimondo announced Monday the start of a $1.45 million emergency loan fund for the businesses directly impacted by the outage.

The fund will allow businesses to loan a maximum $25,000 with no interest or payments for the first six months.

The governor said that insurance claims in line with National Grid’s reimbursement policies will be required to act as collateral for the emergency loans.

“This has not been easy for small businesses,” Raimondo said. “Being without a week’s worth of revenue is very difficult.”

Applications for the loan will start on Tuesday, with an informational session for businesses to be held at the Newport Marriot Tuesday between 10:00 a.m and 12:00 p.m.

National Grid is also lending a helping hand to the impacted businesses by launching a grant program to work alongside the state’s loan program.

“National Grid is going to commit [$500,000] to this grant program,” said Tim Horan, President of National Grid. “Local businesses are critical to any economy.”

The program will begin by offering a maximum of $5,000 to local businesses.

But for some impacted by the outage it may not be enough. Karl Nurse owns a building on Broadway and had two businesses suffer immensely from the outage.

Water Bros. is a surf shop that lost all its inventory and is now in the process of being gutted, while next door Mr. Tim’s Kid Corner had to close permanently.

The two businesses lost heat and a pipe burst on the second floor. Water then came crashing through the ceiling.

“He’s lost his business and he’s lost his heart,” Nurse said about Mr. Tim’s Kid Corner. “It was gone in a couple of hours.”

For now, he’s left without any utilities, and is forced to make repairs out of pocket.

Nurse is hopeful that the programs will help in some way.

“Anything helps right now,” he said. “If you came in with a toothpick we’d find a way to get it done.”

Governor Raimondo also said that employees out of work will be able to apply for unemployment for the time out of work.