To be eligible for a Restore RI grant, a business must meet all of the following criteria: Limit on multi-location applicants:  Businesses with shared ownership can receive grants for up to three businesses they own and operate in the state of Rhode Island. We can help. A business does not have to apply for the full amount they are eligible for, but they cannot apply for a higher amount. In order for an expense to count towards a business’s maximum grant award, the business must submit documentation. Please see the FAQ for more information. What about non-profits? Feb 23 Office Hours: Shop Greater Newport. 7K likes. However, women- and veteran-owned businesses are not considered minority-owned businesses under this program. If I have more than one Rhode Island location, may I receive more than one grant? Hispanic means: All persons having their origins in any of the Spanish-speaking peoples of Mexico, Puerto Rico, Cuba, Central or South America, or the Caribbean Islands. What are COVID related expenses? PROVIDENCE, R.I. – Lt. ‌ ‌ ‌ ‌ RISCPA/RI Business Forum Weekly Newsletter RISCPA/RI Business Forum Weekly News Update - Sept. 23, 2020 RI Commerce Corporation Key Changes Announced to Restore RI Program RESTORE RI … 20% des fonds seront réservés aux entreprises appartenant aux minorités. Une première tranche de 50 M $ sera mise à disposition dans le cadre de ce programme. Rhode Island Commerce engaged CRF to assist with the administration, processing, and review of Restore RI applications. If my business is part of a regional or national franchise, am I eligible? How was it determined who was eligible for relief? Advocate • Innovate • Connect • Enhance . ROUGHLY $37 million of the $50 million allocated to Restore RI small business grants had been spent as of Tuesday morning, ahead of the 9 p.m. application deadline, according to R.I. Commerce Corp. The federal government uses the DUNS number to track how federal money is allocated. REQUEST SERVICE. :  Select yes or no based on whether the business that will receive the grant received a PPP loan. Eligible small businesses will be able to apply for grants of up to $15,000. Sole proprietors with at least one employee are also eligible to apply. The Restore RI grant program is temporarily paused and will be expanding next week. Once the application period begins, you will be able to complete the pre-qualification form online. The Restore RI Grant is targeted at small businesses that have been most severely impacted by the COVID-19 pandemic. Less than 15 hours per week may not be included for purposes of the grant program. Brazilians (Afro-Brazilian, indigenous/Indian only) shall be listed under Hispanic designation. Please enter the number of FTEs calculated in the. If you need assistance with completing your application, please contact 401-521-HELP. STEP 1 – Prequalification form:  The first step of the application process is to complete the prequalification form. *Businesses that have not yet reopened may receive up to $1,000 prior to reopening. The Department of Labor & Training and the Department of Business Regulation will be on hand with the latest updates for you. By. This is a required component of the grant application and will help you determine if you are eligible and what your maximum grant award could be. For the owner:  Color copy of Driver’s License, SSN, and most recent tax return, For the business:  Business EIN/Tax ID, recent tax return, DUNS number, and bank statements (used to verify the business was in operation and to confirm whether the business has reopened), W9 and business banking information for direct deposit, Main Street RI Streetscape Improvement Fund, IT Software, Cyber-Physical Systems, Data Analytics, Other Small Business Relief Programs (Announced July 15), Rhode Island Dept. Governor Dan McKee today sent a letter to Governor Gina Raimondo and Commerce Secretary Stefan Pryor calling for immediate changes to the Restore RI small business grant program to ensure local businesses receive funds before the December 30, 2020 CARES Act deadline. It is recommended that businesses required to submit this documentation submit expenses that total more than the eligible grant amount to ensure that the full grant may be awarded. Step Four:  Complete Application and Grant Documentation. Informations Générales. Restore RI … Governor Dan McKee today sent a letter to Governor Gina Raimondo and Commerce Secretary Stefan Pryor calling for immediate changes to the Restore RI small business grant program to ensure local businesses receive funds before the December 30, 2020 CARES Act deadline. The final grant award will be sized based on the submission of eligible expenses documents. The following table shows the maximum grant amount a business may receive based on revenue loss, number of employees, and whether it operates in a severely impacted industry: Read more here. A retail business with 5 FTEs that suffered a 30% revenue loss could be eligible for up to $5,500. RI COMMERCE CORP's Restore RI grant program will open to sole proprietors and businesses with up to 50 employees beginning next week. The program will provide eligible businesses with grants of up to $15,000. The program is designed to help small businesses significantly impacted by the COVID-19 pandemic. Businesses that operate primarily in one of the following industries are eligible (by 3-digit NAICS code): 115 Support activities for agriculture and forestry, 237 Heavy and civil engineering construction, 312 Beverage and tobacco product manufacturing, 316 Leather and allied product manufacturing, 323 Printing and related support activities, 324 Petroleum and coal products manufacturing, 326 Plastics and rubber products manufacturing, 327 Nonmetallic mineral product manufacturing, 332 Fabricated metal product manufacturing, 334 Computer and electronic product manufacturing, 335 Electrical equipment, appliance, and component manufacturing, 336 Transportation equipment manufacturing, 337 Furniture and related product manufacturing, 423 Merchant wholesalers, durable goods, 424 Merchant wholesalers, nondurable goods, 425 Wholesale electronic markets and agents and brokers, 442 Furniture and home furnishings stores, 443 Electronics and appliance stores, 444 Building material and garden equipment and supplies dealers, 448 Clothing and clothing accessories stores, 451 Sporting goods, hobby, musical instrument, and book stores, 485 Transit and ground passenger transportation, 487 Scenic and sightseeing transportation, 488 Support activities for transportation, 511 Publishing industries (except internet), 512 Motion picture and sound recording industries, 518 Data processing, hosting, and related services, 541 Professional, scientific, and technical services, 551 Management of companies and enterprises, 561 Administrative and support services, 562 Waste management and remediation services, 711 Performing arts, spectator sports, and related industries, 712 Museums, historical sites, and similar institutions, 713 Amusement, gambling, and recreation industries, 722 Food services and drinking places. purchasing PPE, purchasing plexiglass, sourcing cleaning supplies, making physical alterations, upgrading technology such as touchless payment and online reservation systems, rent, utilities). Governor McKee Oct. 23, 2020 If a business does not want this information to be made public, it should not submit the Grant Application. Applicants must apply through the online portal that will be provided once the program application launches. How is the number of employees calculated? Restore RI: $50 million to assist businesses with reopening expenses and fixed costs (e.g. On September 21, 2020, Rhode Island Commerce revised the eligibility criteria for the Restore RI grant program to allow more small businesses to receive aid. VIDEO NOW: Commerce RI's newly expanded Restore RI Grant Program is liveToggle header content. Has your business experienced a year-over-year revenue loss of greater than 30% or 50% during Q2 2020 (April through June) versus Q2 2019 (April through June)? The following table shows the maximum grant amount a business may receive based on revenue loss, number of employees, and whether it operates in a severely impacted industry: Applications will be available on Monday, August 3, 2020. The federal funding used for these grant awards requires the public disclosure of business names, addresses, and award amounts. To accommodate the high demand for the program and to provide for an effective distribution of funds throughout the state, the program may be adjusted from time to time to ensure the fair allocation of funding. Office Activity Update - October 11, 2020 Lt. Grant calculator template showing (1) the number of employees who were part-time (less than 35 hours per week on average), (2) the number of employees who were full-time (at least 35 hours per week on average), and for severely-impacted industries only, listing the number of qualifying independent contractors (up to 3) who worked physically at the establishment during Q1 of 2020 for the minimum number of qualifying hours per week on average. A restaurant that suffered a greater than 50% revenue loss with 14 or more FTEs could be eligible for a $15,000 grant. For any additional questions about the Restore RI program or application, please contact the RI Commerce Small Business Hotline at (401) 521-HELP or email info@commerceri.com. (Maximum of $15,000): Please enter the estimated grant award you are eligible for as calculated by the Grant Eligibility & Award Estimator. How much will a typical business receive? 7K likes. If you have any questions or require assistance completing the application, please e-mail Rhode Island Commerce at info@commerceri.com. Governor's statewide Restore RI Small Business Grant Tour. How many businesses do you anticipate will receive funding through Restore RI?We expect that thousands of businesses will receive funding through Restore RI. The Restore RI grant program is temporarily paused and will be expanding next week. Please list your industry by NAICS code in the provided box. IRS Form 941 filed for the first quarter of 2020 (showing total employment for January – March 2020). Why aren’t they eligible?Rhode Island has set aside additional funding for non-profit organizations, which will be facilitated through a separate program. Note:  If you did not receive a PPP loan, you are still eligible for a grant. FAQ; Emergency Services ; If you have wind or water damage from the recent storms, we are here to help you. For businesses applying for grants of $5,000 or more, you must provide supporting documents (including receipts, bank statements, invoices, or similar) for expenses in excess of the size of the grant you are seeking. Governor Dan McKee today sent a letter to Governor Gina Raimondo and Commerce Secretary Stefan Pryor calling for immediate changes to the Restore RI … Restore RI Grant Adjustment Request Form - Streamlined. Chamber Events. *Update: The Restore RI Grant Program is … Restore RI Grant Calculator. What You Need to Know About two Commerce RI Grant Programs: Restore Rhode Island and Take It Outside . What are COVID related expenses?The grant recipient may use the proceeds for costs and expenses due to the business interruption or other adverse conditions caused by the COVID-19 pandemic. Payments to cover specific expenses for which the business has or will otherwise receive reimbursement from another source including but not limited to: other government grant or loan programs or insurance coverage. Is my business eligible for a grant if I have not reopened?In order to be eligible for the grant, a business must be open or have a plan to reopen within 60 days. Commerce Secretary Pryor Discusses Restore RI Grants, Additional Support for RI Businesses. 2.8K Views. Round two of the Restore Rhode Island Grant Program is now open and accepting applications. Commerce RI: Restore RI Grant Program on 6 August 2020 in Newsletter Articles, Uncategorized The program will provide $50M in grants for small businesses that have been most severely impacted by the COVID-19 pandemic. Once you have created your password, you can then log in to your account and complete the full application. GPCC. Rhode Island Commerce today announced that the Restore Rhode Island grant program expansion will launch tomorrow, Tuesday, September 22. If a business is not yet open, it may receive up to $1,000 prior to opening. How is the 30% or 50% revenue loss calculated?To demonstrate revenue loss, the applicant must show revenue loss between the second quarter of 2020 (April – June 2020) and the second quarter of 2019 (April – June 2020). How is the 30% or 50% revenue loss calculated? PROVIDENCE, R.I. – Lt. Is my business eligible for a grant if I have not reopened? Black means: All persons having origins in any of the Black racial groups of Africa, including, but not limited to, African Americans, and all persons having origins in any of the original peoples of the Cape Verdean Islands. You will also need to know your 3-digit NAICS code to use the grant formula calculator. Note: the final grant award will be sized based on the eligible expenses information submitted in part two of the application. Final grant amounts for those eligible to receive an award greater than $5,000 will be determined based on a showing of eligible expenses up to the maximum award your business is eligible to receive. 20% of these funds will be designated for minority-owned business enterprises. Thank you once again to all who've been involved in providing input. How many businesses do you anticipate will receive funding through Restore RI? Do part-time employees or independent contractors count? Governor Gina Raimondo and Rhode Island Commerce on Wednesday announced major expansions to the Restore Rhode Island Grant Program including increasing the size of … In-office support for businesses, appointments required. He was able to secure two $15,000 loans through Restore RI… How was it determined who was eligible for relief?The program was created following extensive dialogue with the state’s business community including a May meeting of the Governor’s Business Restoration Advisory Council which discussed various options for small business relief, a survey posted in May on www.reopeningri.com which asked Rhode Islander’s their priorities for the State’s allocation of CARES Act funding, consultation with industry associations and representatives of the Black and Latino business community, and studying other state’s small businesses CARE’s Act grant programs. Governor Dan McKee today sent a letter to Governor Gina Raimondo and Commerce Secretary Stefan Pryor calling for immediate changes to the Restore RI small business grant program to ensure local businesses receive funds before the December 30, 2020 CARES Act deadline. 18 Likes 172 Comments 39 Shares. If my business receives an award, will my business name, address, and award amount be made public? Eligibility Expanded For Restore RI Small Business Grants Rachel Nunes 9/16/2020. Applications — including all information and documents required in Step 2 — will be time stamped when completed and will be reviewed in the order they are received. Beginning October 20, 2020, Restore RI applicants that applied in earlier rounds of the Restore RI grant program may now be eligible for increased grant amounts. Not a non-profit or tax-exempt organization; Has not declared bankruptcy within the past three years; Does not have any federal, state or local tax liens; Had been in operation prior to or on January 1, 2020; Currently open or has a plan to reopen in the next 60 days*; and, For a business that is part of a regional or national franchise with locations outside of Rhode Island, if any of the following apply, the business is. Do part-time employees or independent contractors count?A grant eligibility award estimator will calculate your full-time equivalents (FTEs) based on information you provide using the following guidelines: Documentation of Employee Counts: The following documentation is required to document the employee counts: What definition is the program using for a minority-owned business?For the purposes of Restore RI grants, a “minority owned business” must be (1) at least 51% owned by such individuals who also control and operate the business; or (2) in the case of a publicly-owned business, at least 51% of the stock is owned by one or more such individuals.Minority means a person who meets one or more of the following definitions: Are women or veteran owned businesses considered minority owned businesses for the purposes of the Restore RI program?Businesses owned by women and veterans are encouraged to apply. Start applying for the Restore RI Grant program here. Chamber President Laurie White spoke with Rhode Island Secretary of Full-Time Employee working an average of 35+ hours per week during the first quarter of 2020: 1 FTE, Part-Time Employee working an average of less than 35 hours per week during the first quarter of 2020: 0.5 FTE. We're people helping people build Rhode Island's economy. Before beginning, please review program guidelines and check eligibility on commerceri.com. Applications will be time-stamped when completed and will be reviewed on a first come, first served basis. The Rhode Island Commerce Corporation is reminding businesses that grant applications for assistance of up to $30,000 under the "Restore RI" program are due next week. Wednesday 8/12 at 5:30 PM: General questions. What definition is the program using for a minority-owned business? Non-profit organizations and child care businesses are also now eligible to apply. Part of a $100M package of programs to provide relief for RI small businesses, this $50M program is targeted at businesses with under 500 employees … Asian means: All persons having origins in any of the original peoples of the Far East, Southeast Asia, the Indian sub-continent, or the Pacific Islands, including, but not limited to China, Japan, Korea, Samoa, India, and the Philippine Islands. Based on this review, your grant will be sized based on the expense information submitted. Rhode Island Commerce will be holding an information session on these changes on Tuesday, October 20 at 10:30 AM. When you receive an email inviting you to set up your customer account, you will be instructed to set up a password for your account. Beginning October 20, 2020, Restore RI applicants that applied in earlier rounds of the Restore RI grant program may now be eligible for increased grant amounts. Once all documents and questions have been completed, you can submit your application. of Business Regulation, Round 2 Prequalification Form User Manual (Step 1), Round 2 Application User Manual  (Step 2), The income statement template is available here, https://commerceri.com/your-business-advisor/. Call 401-223-1120, Restaurants, hotels, tourism-related businesses, Contact information: Register for counseling, Business continuity evaluation and planning. PROVIDENCE, R.I. – Lt. You will be prompted to provide additional documentation and information to complete your application including: Please note this list will be updated with more detailed instructions. Only completed applications (those that completed both steps of the application process) will be reviewed. ), Technology upgrades (such as website or hardware upgrades, touchless payment system, digital reservation system, etc. To complete this form, please be prepared to answer the following: When all steps are completed, submit the application. Veuillez noter que les demandes de subvention ne sont pas encore ouvertes. PROVIDENCE – Gov. For those businesses that have been open for less than one year, the applicant must show revenue loss between the first and second quarter of 2020 (January – March and April – June 2020). Restaurer RI. The program will provide eligible businesses with grants of up to $15,000. Within two business days, eligible applicants will receive a follow up email from their processor at CRF with a link to create an account for completing Step 2 of the application. Eligible Industries. If a business operates primarily in an industry that is not listed in the list of eligible industries above, it would not be eligible to receive a grant under this program. Governor Dan McKee today sent a letter to Governor Gina Raimondo and Commerce Secretary Stefan Pryor calling for immediate changes to the Restore RI small business grant program to ensure local businesses receive funds before the December 30, 2020 CARES Act deadline. Governor Dan McKee and Lisa Konicki of the Ocean Community Chamber of Commerce visited small businesses in Westerly as part of the Lt. A manufacturer that suffered a greater than 50% revenue loss and has 12-20 FTEs could be eligible for a $12,500 grant.