SMITHFIELD – The John H. Chafee Center for International Business at Bryant University has received a $374,002 grant from the U.S. Small Business Administration under the State Trade Expansion Program, the school announced last week.
The grant was matched by a state grant from the R.I. Commerce Corp. of $124,667, according to the SBA.
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“We value our partnership with the SBA and Commerce RI, and the opportunity to make a difference for Rhode Island businesses,” said Bryant University Provost and Chief Academic Officer Glenn Sulmasy in a statement. “Increasing exports is a proven way to add jobs, increase profits and promote continued growth for our state.”
The funds will be used to help small businesses to enter the global market or to expand their global exports.
This year’s grant from the STEP program to Bryant was the same level as last year. The grant marks the eighth time the center has applied and received funding from the STEP program.
The overall objective of the STEP program is to increase the number of small businesses that export, to aid companies in expanding into new markets and to increase the value of U.S. exports.
This year’s STEP award to the Chafee Center for International Business was the same granted amount as the center received in 2018. The center was one of 41 state international trade agencies to receive a grant this year.
“SBA is proud to partner with the Rhode Island STEP grant awardee, the John H. Chafee Center for International Business at Bryant University,” said SBA District Director Mark S. Hayward in a statement. “The Chafee Center has done an incredible job growing those small businesses that export and this award is a testament to that proven track record.”
