SBA: $106M in federal grants allocated to 442 R.I. restaurants

PROVIDENCE – Nearly $106 million in federal Restaurant Revitalization Funds went to Rhode Island restaurants and bars, according to U.S. Small Business Administration data published July 9 and updated Monday.

The $105.6 million from the program granted to 442 Rhode Island restaurant, bar and catering company owners is about 0.4% of both the program’s funding and total beneficiaries. Nationwide, the program offered $28.6 billion to 101,000 hard-hit restaurateurs and bar owners, though lack of funds left another 177,000 applicants unable to receive grants through the program, according to data released by the SBA.

Wright’s Farm Corp., which runs the popular family-style restaurant and event venue in Burrillville, secured the largest grant in the state at just under $3 million, followed by Charlestown’s The Nordic -home to an all-you-can-eat lobster buffer – at $2.6 million. Jackie’s Galaxie Lincoln Inc., which runs five sushi restaurants across the state, got the third-highest injection of funds at $2.3 million.

Rounding out the top five were Plumb Inc., owner of the Brick Alley Pub in Newport with $2.2 million and Armenucci LLC, which owns Blackie’s Bulldog Tavern in Smithfield, with $2.1 million.

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Most recipients got much smaller allocations, however. The average amount among Rhode Island recipients was just over $239,000. Nationally, the average grant size was $283,000, according to the SBA.

Of the Rhode Island businesses that received funding, 190 were women-owned, 24 were owned by veterans and 101 were owned by those classified as “socioeconomically disadvantaged,” which includes racial and ethnic minorities.

A majority of recipients were local small businesses but several franchises, including Dunkin’ and Subway, also benefited.

Funding under the program was capped at $10 million per applicant and $5 million per location. 

The full list of recipients, including names, locations and individual grant amounts, is available online.

Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.