PROVIDENCE – About one-quarter of the funds set aside for the state’s newly opened small-business grant program would still be up for grabs, assuming all existing applications are approved.
R.I. Commerce Corp, the agency in charge of the $20 million Small Business Relief Grant Program, has received 3,000 applications seeking a combined $15 million in funding as of Wednesday, according to spokesman Brian Hodge. R.I. Commerce is still working to verify whether applicants meet the criteria, which center around the size of the company in terms of revenue and their ability to show pandemic-related losses.
Assuming all applications are approved, that leaves about $5 million up for grabs just seven days after the program opened. The state will continue taking applications until total funding requests hit the $20 million-mark, Hodge said.
More information and the application are available online at https://commerceri.com/ReliefGrant/.
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.
