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LAST UPDATED: October 20, 2020
Restore RI: Helping small businesses & non-profits most affected by COVID-19
On October 14, it was announced maximum grant sizes are doubling from previous amounts, with awards now ranging up to $30,000. Non-profit organizations and child care businesses are also now eligible to apply.
Program eligibility is anticipated to include the following:
- Limited to COVID-19-impacted businesses that demonstrate 30% or greater revenue loss (with the highest award amounts reserved for businesses experiencing greater than 50% revenue loss).
- Small businesses with 1-20 employees or restaurants/caterers of any size. Government entities, national chains, and non-profits are not eligible for Restore RI at this time.
- Must have a physical presence in Rhode Island.
- Must be open or show a plan to reopen.
- Health care/social assistance businesses and select other industries are not eligible at this time. Additional industry eligibility rules and information will be provided with the application materials.
- Viability test with streamlined process for PPP recipients.
Completed applications will be approved on a first-come, first-served manner. Applications will be time-stamped upon receipt. To accommodate the high demand for the program and to provide for an effective distribution of funds throughout the state, funding may be awarded in rounds; the program may be adjusted from time to time to ensure the fair allocation of funding. If additional program funds remain after initial application rounds, small businesses with a greater number of employees, sole proprietors, and others may become eligible.
In order to apply for a RestoreRI Grant, each business will need to apply for a "DUNS" grant with the Federal Government. It may take two business days to obtain a DUNS number. Apply here.
You will need all of the information listed below to obtain a DUNS number:
- Name of organization
- Organization address
- Name of the chief executive officer (CEO) or organization owner
- Legal structure of the organization (e.g., corporation, partnership, proprietorship)
- Year the organization started
- Primary type of business
- Total number of employees (full and part-time)
The State requires several documents to apply for the RestoreRI grant. Before applying, businesses should gather the following information:
- Verification of COVID impact (revenue loss)
- Verification of number of employees (941 from Q1)
- Business EIN/TAX ID and recent tax return
- Federal DUNS number
- Copy of Driver's license
- Business banking information for direct deposit
- Owner/principal SSN and recent tax return
- Documentation of expenses
- NAICS code for your industry - Look up NAIC codes here.
Eligible uses of the grant include reopening expenses (e.g. PPE, plexiglass, technology) and major fixed business expenses (e.g. rent, utilities) not already covered by state or federal funding. These grant funds may not be used for expenses covered by other state or federal funding. These grant funds may not be used for expenses reimbursed to a business or otherwise covered for a business by other state or federal funds.