Home Economy Government $2.6M Washington Bridge small-business grant program launched

$2.6M Washington Bridge small-business grant program launched

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PBN Staff

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09/09/2024

bF1O76wI-washbridgepic-696x385-1 (1) — GOV. DANIEL J. MCKEE on Monday announced the launch of the Washington Bridge Small Business Grant Program. The latter will offer grants of up to $2,500 to support small businesses impacted by the temporary closure and reconstruction of the structure that carries Interstate 195 over the Seekonk River from Providence to East Providence. PBN FILE PHOTO/WILLIAM HAMILTON

EAST PROVIDENCE – More help is now available for business impacted by the Washington Bridge closure. Alongside state and local officials, Gov. Daniel J. McKee on Monday announced the launch of the Washington Bridge Small Business Grant Program. It will offer grants of up to $2,500 to support small businesses hurt by the temporary closure

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EAST PROVIDENCE – More help is now available for business impacted by the Washington Bridge closure. Alongside state and local officials, Gov. Daniel J. McKee on Monday announced the launch of the Washington Bridge Small Business Grant Program. It will offer grants of up to $2,500 to support small businesses hurt by the temporary closure and reconstruction of the structure that carries Interstate 195 over the Seekonk River from Providence to East Providence. “This winter was tough for businesses that rely on the Washington Bridge, and even though we were able to get six lanes moving again pretty quickly, and traffic volume is back to where it was, businesses still need help to offset some of the losses they experienced this winter,” said McKee outside the Red Bridge Tavern. “I want to thank the cities of East Providence and Providence, the R.I. Commerce Corp. and our legislature for working together to make $2.6 million available to local businesses.” The grant program will be funded from federal COVID relief aid that was approved by the General Assembly and signed into law. Of the $2.6 million allocated to the program, $1.2 million is earmarked for businesses in East Providence; $800,000 for businesses in Providence; and $600,000 for businesses located in all other municipalities across the state. “East Providence is a resilient community," said Mayor Bob DaSilva. "Our residents and small businesses have rebounded from what was a challenging situation with the Washington Bridge closure. This $1.2 million will be an incredible boon to our local economy and will help businesses make a complete rebound.” Grant awards for eligible small businesses are set at pre-determined tiers of $500, $1,000 and $2,500. Amounts will be determined based on applicants’ reported levels of economic impact. Eligible small businesses are defined as businesses based in Rhode Island with less than $2 million in annual revenue. Sole proprietors and nonprofit organizations are eligible to apply. Grant tiers and eligibility requirements were set collectively by R.I. Commerce Corp., the city of Providence, and city of East Providence. The application portal for the Washington Bridge Small Business Grant Program will officially open on Tuesday at 2 p.m. and remain open until Sept. 24. Applicants must have experienced a negative revenue impact [minimum $500 or 10% revenue loss] as a result of the Washington Bridge temporary closure and reconstruction. “We thank Gov. McKee and the General Assembly for including these funds in the FY25 budget and look forward to continue working alongside the Cities of Providence and East Providence to quickly administer these grants,” said Secretary of Commerce Liz Tanner. “We continue to urge Rhode Islanders across the state to support our vibrant small businesses on both sides of the Washington Bridge by buying, shopping and dining local.” The abrupt closure of the bridge’s westbound side in December has disrupted traffic and businesses. In March, the state announced that the westbound side needed to be replaced. Demolition of the bridge began Sunday.