Restore RI | Rhode Island's COVID-19 Small Business Grant Program

 

Welcome to the COVID-19 small business RESTORE RI grant program page.

Información en espanol.

Restore RI is targeted to assist small businesses severely impacted by the COVID-19 pandemic. For any additional questions about the Restore RI program or application, please contact the RI Commerce Small Business Team by clicking here.

The Restore RI grant program is temporarily paused and will be expanding next week. Check back soon for more updates and information.

 

Information for new applicants

STEP 1 – Prequalification form:  The first step of the application process is to complete the prequalification form. Important: completing the prequalification form (Step 1) does not count as submitting a completed application.

STEP 2 – Application:  After applicants complete the prequalification form, they will receive an email from CRF (our partner in administering this program) confirming receipt. This email will come from the email domain crfusa.com. Within two business days, eligible applicants will receive a follow up email from their processor at CRF with a link to create an account for completing Step 2 of the application.  Once applicants create an account with CRF, they must complete the full application through CRF’s online portal. Applications — including all information and documents required in Step 2 — will be time stamped when completed and will be reviewed in the order they are received. Only completed applications (those that completed both steps of the application process) will be reviewed.

Please review the following tools to help you apply.

Upcoming Zoom Help Sessions: Led by members of the Commerce team, these Zoom sessions will help walk you through common questions as well as more in-depth topics. Please stay tuned for more upcoming sessions.

Information for existing applicants

Completing the Restore RI grant application is a 2-step process.  If you have completed the prequalification form (step 1) and have not received an email from CRF, please contact the RI Commerce Small Business Team by clicking here.

Eligibility - Who Qualifies for the Restore RI Grants?

To be eligible for a Restore RI grant, a business must meet all of the following criteria:

  • Operates primarily in an eligible industry;
  • Experienced a revenue loss due to COVID-19 equal to or greater than: (1) 30% if the business is in a severely-impacted industry (defined as retail trades; scenic & sightseeing transportation; arts, entertainment, and recreation; accommodation and food services; and personal care services); or (2) 50% if the business is in a non-severely impacted industry;
  • Has a physical presence in RI.
  • Has at least one employee for which direct payroll taxes are paid, in addition to the owner;
  • Has no more than 20 full-time equivalent employees unless you are a restaurant or caterer.
  • Has a DUNS number;
  • Not a non-profit or tax-exempt organization;
  • Has not declared bankruptcy within the past three years;
  • Does not have any federal, state or local tax liens;
  • Had been in operation prior to or on January 1, 2020;
  • Currently open or has a plan to reopen in the next 60 days*; and
  • For a business that is part of a regional or national franchise with locations outside of Rhode Island, if any of the following apply, the business is not eligible: (1) the applicant is owned in whole or in part by the franchisor or an affiliated entity of the franchisor, (2) the applicant or the entity that owns the applicant is headquartered in another state, or (3) the majority ownership of the applicant is held by a resident of another state and the applicant’s state of organization is other than Rhode Island.

Limit on multi-location applicants:  Businesses with shared ownership can receive grants for up to three businesses they own and operate in the state of Rhode Island.

*Businesses that have not yet reopened may receive up to $1,000 prior to reopening.

Award Amount

The following table shows the maximum grant amount a business may receive based on revenue loss, number of full-time equivalent (FTE) employees, and whether it operates in a severely impacted industry:

 

  • Maximum grant amount per business is $15,000 or $12,500 in other eligible industries. Final grant amounts for those eligible to receive an award greater than $5,000 will be determined based on a showing of eligible expenses up to the maximum award your business is eligible to receive.
  • Which industries are considered severely impacted for purposes of this grant program? A list of severely impacted industries can be found here
Helpful Resources
  • Restore Rhode Island Grant Program one-pager (PDF)
  • To assist businesses with completing the Restore Rhode Island Grant Program application, we have partnered with several community organizations. Please find their contact information and other resources below.

    Commerce:

    Center for Southeast Asians:

    Hispanic Chamber:

    • Contact Information: 401-400-1340 or info@rihispanicchamber.org
      • In person/Zoom application assistance available M-F, 9a-5p; appointments required. Call 401-400-1340 to schedule.
    • Areas of Expertise:
      • Spanish-speaking businesses

    Newport Chamber:

    Rhode Island Black Business Association:

    • Contact Information: Click here or call 401-383-1179
    • Areas of Expertise:
      • Black-owned businesses

    Rhode Island Hospitality Association:

    • Contact Information: 401-223-1120
      • In-person assistance available, appointments required. Call 401-223-1120
      • Areas of Expertise:
        • Hospitality industry
        • Restaurants, hotels, tourism-related businesses

    RI SCORE:

    • Contact Information: Schedule a mentor request
    • Areas of Expertise:
      • Technical questions
      • Business entity questions
      • One on one support

    RI Small Business Development Center (SBDC)

    • Contact information: Register for counseling here.
    • Areas of expertise:
      • Technical and financial questions
      • Business entity questions
      • Business continuity evaluation and planning
      • One on one support

Contact

Businesses that require assistance may contact the Rhode Island Commerce Small Business Hotline by clicking here.

 

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