Small Business Grants in Rhode Island (RI)

Securing a small business grant in Rhode Island involves identifying the right opportunities, understanding the eligibility criteria, and preparing a compelling application. Here are some of the most relevant grant opportunities for small businesses in Rhode Island:

RI Rebounds Small Business Grants
The RI Rebounds Small Business Grant Program provides direct financial assistance to Rhode Island’s small businesses. The grants are available for either $2,500 or $5,000. In January 2023, $800 supplemental awards were made available to businesses operating in food services, personal care services, and arts, entertainment, and recreation.

Rhode Island Emergency Management Agency’s (RIEMA’s) Grants Program
RIEMA’s Grants Program facilitates the application and issuance of grants with the purpose of mitigation, response, and recovery efforts throughout the State. A nonprofit with one site may apply for up to $150,000 for that site. Nonprofits with multiple sites within Rhode Island may not exceed $450,000 of funding per nonprofit.

Microenterprise (MicroE) Stabilization Grant Program
This program provides grants of up to $5,000 to qualifying microenterprises. Funds may be used for working capital to cover business costs, such as rent, staffing, and utilities.

2023 Nonpoint Source (NPS) Implementation Grants
The Rhode Island Department of Environmental Management (RIDEM) offers these grants. Eligible applicants include municipal, state, and regional governments; Quasi-state agencies; Public schools and universities; 501(c)3 designated nonprofit watershed, environmental, or conservation organizations; and Other 501(c)3 designated non-profit organizations with capacity to carry out eligible projects.

State Trade Expansion Program (STEP)
This grant can provide funding to increase exports. The maximum STEP grant reimbursement to eligible small businesses for website development is $6,000.

Rhode Island Minority Business Accelerator Program
This program provides $3 million in funding for minority-owned businesses.

Comprehensive Economic Development Strategy (CEDS)
The Division of Planning has developed the CEDS, which is responsible for administering various grant programs, collectively referred to as “Investment Assistance”.

Strategic Initiative Grants
These grants are for program support, organizational development and capacity building efforts, and advocacy or systems reform initiatives.

Innovate RI Small Business Fund
This fund provides grants to assist local entrepreneurs and high-growth start-ups defray the costs of applying for federal SBIR/STTR grants.

Site Readiness Program
This program partners with municipalities and/or developers to fund municipal technical assistance. Commercial and industrial projects are generally awarded up to $125,000, and residential projects are generally awarded up to $75,000.

Rhode Island Small Business Grants
The local state government in Rhode Island provides small business grants to businesses and organizations in Rhode Island.

IRISBF Grants
The IRISBF provides grants of up to $3,000 to assist small businesses offset the costs associated with preparing a competitive Phase I SBIR/STTR.

To apply for these grants, you should visit the respective websites or contact the administering bodies for detailed application procedures. It’s important to ensure that your business meets the eligibility criteria for each grant before applying. Your application should clearly demonstrate how the grant will help your business grow and contribute to the Rhode Island economy.