The Rhode Island Recoverable Grant Agreement is a financial arrangement offered by the state of Rhode Island to support businesses and organizations in a variety of sectors. This agreement functions as a way to provide funding to businesses, both new and existing, that demonstrate the potential for growth and economic impact in the state. The Recoverable Grant Agreement is a unique approach to financing that combines elements of traditional grants and loans. It aims to provide funding that does not have to be fully repaid if certain conditions, such as job creation or revenue generation, are met by the recipient. This innovative model ensures that the state's investment in businesses and organizations can be recaptured and reinvested in the future. There are different types of Rhode Island Recoverable Grant Agreements, each specifically designed to cater to the diverse needs of various industries. Some of these types include: 1. Small Business Recoverable Grant: This agreement targets small businesses looking to expand or start operations in Rhode Island. It provides financial assistance to cover costs associated with equipment, marketing, inventory, or workforce development. 2. Innovation Initiative Recoverable Grant: This agreement focuses on promoting innovation and technological advancements in Rhode Island. It supports research and development efforts, prototype development, or developing innovative products and services. 3. Workforce Development Recoverable Grant: This agreement aims to enhance workforce training and development in Rhode Island. It provides funding for programs that offer skills training, apprenticeships, or internships, with the goal of increasing the state's talent pool. 4. Renewable Energy Recoverable Grant: This agreement encourages the growth of renewable energy sources and sustainable technology in Rhode Island. It supports projects related to solar, wind, and other green energy initiatives. 5. Arts and Culture Recoverable Grant: This agreement is tailored to support the creative industry in Rhode Island. It offers funding for artists, musicians, designers, and organizations involved in promoting arts, cultural events, and tourism. In conclusion, the Rhode Island Recoverable Grant Agreement is a unique financial instrument that aims to support businesses and organizations in various sectors. With different types of agreements available, it ensures that businesses across industries have access to funding to foster growth and contribute to the state's economic development.
Rhode Island Recoverable Grant Agreement
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The program was created by Governor McKee and enacted by the General Assembly in the 2024 Appropriation Act with a funding of $20 million from the State and Local Fiscal Recovery Funds (SLFRF) program. The program provides funding to municipalities for the construction and maintenance of roads, sidewalks, and bridges.
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United Way 2-1-1 in Rhode Island is a 24/7 social and human services helpline that offers free and confidential referrals to programs and services throughout the state. Dial 2-1-1 for immediate assistance from a specialist or visit their website for more information.
RentReliefRI is a new, statewide rental and utility assistance program available for eligible households.