State small-business grant program sees 3K applications for

State small-business grant program sees 3K applications for 75% of funding after one week


State small-business grant program sees 3K applications for 75% of funding after one week
R.I. COMMERCE CORP has received 3,000 applications seeking $15 million since launching the Small Business Relief Grant Program last week. About $5 million remains assuming all applications are approved.
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.

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