The state on Sept. 22 expanded the $50 million Restore Rhode Island grant program. Sole proprietors and businesses without employees are now eligible, along with companies with up to 50 full-time-equivalent employees.
The grant program, which launched in early August, was originally limited to businesses with up to 20 workers.
R.I. Commerce Corp. says businesses in eligible industries with at least 30% year-over-year revenue loss in a month from March to July can now apply to the program. Previously, only businesses in “severely impacted” industries, such as retail, food services and arts and entertainment, were eligible for the 30% threshold, while other businesses had to prove a comparable 50% loss.
Grants from the program range from $1,500 to $15,000. So far, about 900 small businesses in the state have received nearly $8 million from the program.
