Posted by: Providence Chamber of Commerce | September 1, 2011

Storm Relief for RI Small Biz

Governor Chafee announced the establishment of a $500,000 loan fund to help small businesses affected by Tropical Storm Irene.  The loans are available through the state Economic Development Corporation’s Small Business Loan Fund and can range from $10,000 to a maximum of $100,000 at a 5 percent fixed-interest rate.

To qualify, businesses must provide evidence of damage or business interruption directly attributed to Irene.   Businesses must show that they need relief above and beyond their insurance coverage and that payments have been made to their carrier for this type of storm damage.

For more information, please call the EDC Finance Department at 401-278-9183.


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