Time running out on Washington Bridge small business assistance

PROVIDENCE, R.I. (WLNE) — Some of the assistance for small businesses impacted by the Washington Bridge is coming to a close.

Applications for the small business administration loans close on Monday.

This comes as Rhode Island opens up a string of grants for impacted businesses.

The deadline to apply for SBA assistance due to the sudden closure of the Washington Bridge is on Monday.

These loans were one of the first options open for businesses feeling the impact of the bridge closure, but have also drawn criticism as they will need to be paid back.

Those loans are available in Providence, Kent, and Bristol counties and run up to $2 million for businesses.

That application remains open through this weekend and can be filled out online.

The SBA loans come with payment terms of up to 30 years to repay, while the recently announced grants will not need to be paid back.

The grant applications just opened earlier this week and will remain open for around two weeks before the state works to distribute that funding.