The U.S. Department of the Treasury, through the State Small Business Credit Initiative (SSBCI) Investing in America Small Business Opportunity Program (CFDA 21.034), awarded a $1,582,059 Project Grant to the Rhode Island Commerce Corporation on August 23, 2024. The grant funding will support the provision of technical assistance, including legal, accounting, and financial advisory services, to very small and underserved small businesses in Rhode Island. The goal is to help these businesses successfully apply for SSBCI capital programs or other federal and state small business support initiatives. The Rhode Island Commerce Corporation, the official economic development organization for the state, will serve as the primary awardee and may work with sub-recipients to deliver the technical assistance services. This grant is part of a broader $75 million competitive funding opportunity under the SSBCI Investing in America SBOP to expand access to capital and entrepreneurial resources for small businesses, particularly those impacted by the COVID-19 pandemic.
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