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

 

Restore RI:  Helping small businesses most affected by COVID-19

The Restore RI grant program provides grants from $1,500 to $15,000 to small businesses impacted by the COVID-19 pandemic.

 

Beginning September 22:  MORE businesses are now eligible to apply!

If you answer ‘YES’ to these three questions below, you’ll be able to apply:

  1. Are you a small, for-profit business in Rhode Island? Businesses must have a physical location in Rhode Island and 50 or fewer full-time equivalent employees or qualifying independent contractors (no limit for restaurants and caterers). Sole proprietors and businesses without employees or contractors (1099s) may now apply.
  2. Is your business in an eligible industry? A full list of eligible industries can be found here
  3. Did your business experience a major revenue (sales) drop due to COVID-19? Businesses must demonstrate a 30% or higher revenue (sales) drop in a month between March and July of 2020 (compared to the same month in 2019, January 2020, or February 2020) due to COVID-19.

Click here to review detailed program eligibility rules.

 

How do I apply?

To help you apply, please see a checklist here.

 

Click Here to Apply for the Restore RI Grant Program

 

What Information do I need to apply?

All applicants:

  • Most recent business tax return (sole proprietors must provide schedule C), ownership information, Business EIN/Tax ID
  • Revenue (sales) records for a month March to July of 2020 and for either the same month in 2019, January 2020 or February 2020.
  • DUNS number (federal requirement to receive grant funds). You may request one here. Important: when prompted to select the “Primary Reason for DUNS Number Registration,” please select “I’m a US Government Contractor or Grantee” from the dropdown menu. Selecting any other option could result in a 30 day wait for your DUNS number.
  • Records of your eligible expenses and information about state or federal funding you’ve received, including PPP, EIDL, Pandemic Unemployment Assistance, Unemployment Insurance, among others.
  • Owner info: government ID (e.g. driver’s license), SSN, and most recent tax return

Applicants with employees or independent contractors will also need:

If you need assistance scanning, saving and uploading these files to your application, please fill out this form to make an appointment with Rhode Island Commerce.

Have you already applied to the RestoreRI program but were ineligible under earlier program guidelines?  If your business is eligible under the new program rules, you do not need to submit a new application — you will be contacted directly to continue with the application process. Please let us know if you have questions.

This program is facilitated by our partners at the Community Reinvestment Fund (CRF). Please look for emails from CRF staff (@crfusa.com) as you complete the application process.

Need assistance with your RestoreRI grant application?

Join us for Commerce office hours on Wednesday, October 1 (Register here) and Thursday, October 2 (Register here

How Much is my Business Eligible For?

Grants of up to $15,000 are available depending on business size, industry, and revenue loss. Please use the below chart, and the grant calculator to estimate your grant amount.

 

Full-Time Equivalents
W-2 Employees or
Qualifying
Independent
Contractors
Affected businesses in
severely impacted industries
Restaurants, caterers, accommodations, retail, arts, entertainment, recreation, personal care, travel agents, scenic/sightseeing, photographers
Affected businesses in other eligible industries
Full list available here. Examples include manufacturing, construction, professional services, etc.
Owner only 2,500 1,500
1-3 4,500 2,500
4-5 6,500 4,500
6-7 8,500 6,500
8-9 10,500 8,500
10-11 12,500 10,500
12-13 14,500 12,500
14-50* 15,000

Amounts listed above are the maximum award amounts available and are limited to the amount of eligible expenses.

Businesses that have not reopened are limited to $1,000 until they reopen.

*Restaurants and caterers are not subject to the 50 FTE limit.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Helpful Resources

HELPFUL RESOURCES

  • Frequently asked questions
  • Application guide (Coming soon)
  • Grant Calculator (Excel)
  • 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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