Washington Bridge Small Business Grant ProgramGet Ready to Apply Guide

Washington Bridge Small Business Grant Program
Get Ready to Apply Guide

 
The Washington Bridge Small Business Grant Program provides grants to eligible RI businesses to alleviate the financial burden caused by the Washington Bridge closure and reconstruction. Use this two-page checklist to get ready to apply.
 
Grant Awards & Prioritization
Businesses must have experienced at least a $500 revenue loss representing a minimum 10% of revenues. Use the calculators on the next page to confirm financial eligibility. Grants awards will be made as follows:

• $500: must have experienced a $500 or greater revenue loss
• $1,000: must have experienced a $1,000 or greater revenue loss
• $2,500: must have experienced a $2,500 or greater revenue loss

Grant awards will be prioritized by percentage of revenue loss experienced. Awards will be made on a rolling basis until funds are exhausted.
 
 
Is your business eligible?
Confirm the business meets the following eligibility requirements. For complete eligibility requirements and for common questions, please review the program FAQ available on https://commerceri.com/emergency-assistance/wbgrants/ .

1. RI-based businesses whose primary headquarters is NOT located in the City of Providence or the City of East Providence established prior to June 1, 2023.
   • IMPORTANT: For businesses whose primary headquarters or physical location is within the cities of Providence or East Providence, please visit our homepage to apply for grant program your business is eligible to apply to.
2. Experienced a negative economic impact (minimum $500 and 10% revenue loss) as a result of Washington Bridge Reconstruction.
3. Be a for-profit business, partnership, sole proprietor, or non-profits entity.
4. Have Rhode Island gross receipts of $2 million or less in 2022 or 2023.
5. Not be owned by a nationally or regionally owned franchise.
6. Not be permanently closed.
7. Not be in or considering federal bankruptcy or state receivership.
8. Not be on the federal do not pay list.
9. Not be an elementary or secondary school; landlord/real estate professional; institution of higher education; public or private foundation; government-owned entity or elected official’s office; and/or lobbying/political organization.

Documents Needed to Apply
This program requires applicants have the following documents available:

• Government ID: All applicants must submit a photo ID with the application.
• Documentation of gross receipts or sales: This information is required to calculate net financial loss and may be requested of applicants during the application review process. Documentation includes: 
  • Point-of-sale (POS) system exports or screenshots,
  • General ledger or accounting software report (e.g., a profit and loss statement from an accounting software such as QuickBooks, FreshBooks, Xero) that shows annual revenue and monthly revenues for impact period, or
  • Tax filings (eg. quarterly income tax filing).

 
The RI Commerce Corporation reserves the right to request additional documentation to demonstrate that a business meets eligibility criteria and other program requirements. A minimum of 10% of applications will be randomly selected for document review to confirm eligibility requirements are met.

 
Confirm financial loss experienced:
Applicants will be asked to supply the information used to complete one of the following loss calculators during the application process:
 
Loss Calculator for businesses that opened prior to November 30, 2022:
 

1. A. Base Period Revenues:

Total gross receipts for the period of December 2022 – February 2023: _______ (A)

1. B. Impact Period Revenues:

Total gross receipts for the period of December 2023 – February 2024: _______(B)

1. C. Revenue Loss in Dollars:

Calculated by subtracting "B. Impact Period Revenues" from "A. Base Period Revenues": _______ (C)

1. D. Revenue Loss Percentage:

Calculated by dividing "C. Revenue Loss in Dollars" by "A. Base Period Revenues": _______ %
 
For new businesses that opened between December 1, 2022 and June 30, 2023:

1. A. Impact Period Revenues:

Total gross receipts for the period of December 2023 – February 2024: ______(A)

1. B. Impact Period Operating Expenses:

Total operating expenses for the period of December 2023 – February 2024:_______ (B)

1. C. Revenue Loss in Dollars:

Calculated by subtracting "A. Impact Period Revenues" from "B. Impact Period Operating Expenses": _____(C)

1. D. Revenue Loss Percentage:

Calculated by dividing "C. Revenue Loss in Dollars" by "A. Impact Period Revenues":_______ %
 
To be eligible for an award, a business must have experienced a $500 revenue loss that represents a greater than 10% revenue loss.
 
 
Need Help?
If you need assistance completing this application or would like translation or interpretation services, please contact us at [email protected] or 401-278-9100. 
 
 Apply Online
Applications will be available online. Please check https://commerceri.com/emergency-assistance/wbgrants/ for more information.