RESTORE RI Small Business Grants
By Jean Saylor, CPA, Partner
Rhode Island has targeted help for its small businesses that have been impacted by the COVID-19 pandemic. In a snapshot, this program will provide grants of up to $15,000 to eligible businesses.
Certain Eligibility Criteria
An eligible business is one that has more than one employee, not including the owner, but no more than 20 employees. The employee cap does not apply to restaurants or caterers.
To be eligible, your business must have incurred a revenue loss of:
- 30% if your business is in a severely-impacted industry defined as retail trades, scenic and sightseeing transportation, arts, entertainment, recreation, accommodation and food services and personal care services, or
- 50% decline if in a non-severely impacted industry.
The application process opened on Monday, August 3, 2020.
Additional information about RESTORE RI, including the application, can be found here.
If you would like assistance with RESTORE RI, please contact your client services team or Jean Saylor, CPA, Partner, at [email protected].
Visit our COVID-19 Resource Center for more news and insights on related topics.