Small businesses still reeling from Washington Bridge closure, awaiting grant

EAST PROVIDENCE, R.I. (WLNE) – East Providence business owners are saying the Small Business Administration loan process is not a walk in the park, which is why some have held off on it and are waiting for a grant from the state to help their businesses.

“Small business is the heart and soul of our communities,” Steven Costa, head chef and owner of Rosa’s Tavern in East Providence. “We are all open.”

Small businesses in East Providence took a hit from the westbound closure of the Washington Bridge back in December.

“Business took a toll,” All Seasons Café owner Maria Torres said. “I am a brand new business and I had not even been open a year when that happened.”

“People were in a rush to get to work,” Torres added. “If you are running late and they didn’t have time to stop. A lot of the customers said they had to get their coffee closer to work since the commute was 10 minutes to 40 or 45 minutes.”

The Small Business Administration offered a loan to these small businesses at a 4% rate.

These business owners described the SBA loan process as extensive and frustrating.

“I did apply for it. Unfortunately, it is not so easy, as they say it is,” Costa said. “Especially for someone like me who has only been open for two years. A lot of the information they ask of me I could not provide because I don’t have it.”

Business owners are first asked to apply for the loan, then they fill out a checklist and gather tax documents and tax returns.

Upon review, the SBA will come back with an amount of what you can get for your business if you do qualify.

“I don’t think the loan is like ‘we are looking out for you,'” Torres said. “It’s just another way to accumulate debt for something we didn’t even do. We didn’t cause this problem.”

A grant program from the state is in the works where half of the funds would go to Providence and the other half to East Providence, an attempt at helping these small businesses rebuild.

“If there is a will, there’s a way,” Pawtucket resident Filomena Branco said. “You can always make it and support everyone.”

East Providence is hosting its first ever restaurant week from June 16 through the 22.

37 restaurants are signed up for the event so far.