Restore RI Small Business Grant Program Exceeds the $50M goal, aided over 4,100 businesses

PROVIDENCE, R.I (WLNE) – Governor Raimondo and R.I Commerce announced that more than 4,100 small businesses in the state received Restore R.I grants, totaling more than $51 million in awards.

These payments by the program exceed the initial $50 million goal laid out when the program was announced.

Some Restore Rhode Island Program Statistics

  • More than 900 restaurants have received grants totaling more than $18M
  • More than 350 arts, recreation, and fitness businesses have received grants totaling more than $4M.
  • More than 600 personal service businesses have received grants totaling more than $5.5M
  • More than 460 retail establishments have received grants totaling more than $4.7M
  • More than 200 small Rhode Island nonprofits have received grants totaling almost $3 M.
  • More than 900 sole proprietors have received grants totaling more than $5.5M.

The program opened in August and provided direct support of up to $30,000 in grants to Rhode Island’s small businesses to help in reopening.

It has undergone multiple expansions, including a streamlined application process, and doubling grant amounts.

In total, Rhode Island has provided over $125 million in direct financial support to small businesses and non-profits throughout the state.

This also includes the state’s Pause program, the Take it Outside initiative, adaptation grants, and the HART hospitality relief program.

The R.I small business hotline fielded more than $8,600 calls and web inquiries since the start of the pandemic.

Businesses with questions on Commerce programs or with interest in small business loans can contact the Small Business Hotline at (401) 521-HELP or info@commerceri.com.

©WLNE-TV/ABC6 2020

 

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