MicroEnterprise Grant Program and Small Business Assistance

TOWN OF WARREN, RHODE ISLAND
Office of Planning & Community Development 
​514 Main Street, Warren, Rhode Island 02885-4369
(401) 289-0529        [email protected]

MEMORANDUM
From:         Bob Rulli, Director
Re:         MicroEnterprise Grant Program and Small Business Assistance
Date:         April 1, 2020

The Town of Warren has submitted an application to the State’s Office of Housing and Community Development for MicroEnterprise funding through the Community Development Block Grant (CDBG) program.  If approved on a first come basis, businesses with less than 5 employees with the business owner being one of the 5 and with a median household income below 80% of the area median income, would be eligible for a grant up to $10,000. Home based businesses would be eligible for up to $5000.  The below information illustrates income limits based on size of household.  Evidence of income would be verified by income tax returns.  I expect that we will have program regulations and applications available beginning on April 8, 2020.  I will add that this program is not connected to the economic stimulus plan associated with COVID-19 which was passed by Congress last week.  If you have additional questions, please do not hesitate to contact me via email.


                            

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​Additional Small Business Assistance
If you do not qualify for the above program you may be eligible for others, including SBA’s coming loan forgiveness program https://covid19relief.sba.gov/#/ .  For links to multiple small business assistance programs, I refer you to CommerceRI https://commerceri.com/emergency-grants-and-funding/.  Additionally, Local Initiatives Support Corporation  (LISC) just launched a program that is accepting applications only through April 4, 2020.  See https://www.lisc.org/covid-19/verizon-small-business-recovery-fund/ for details.

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