News, Information & Resources To Help Protect You & Your Business
The COVID-19 (“coronavirus”) pandemic is affecting everyone and new information is being released by the Federal and State governments at warp speed. Restivo Monacelli's COVID-19 Resource Center is designed to keep you informed and provide the resources you may need in one central location. As always, we are committed to providing you the highest level of service and guidance on how to minimize the impact COVID-19 is having on your business.
We encourage you to contact us at your earliest convenience so we can develop a customized strategy that best meets your needs.
On April 15, 2021, Rhode Island Commerce announced a RI Small Business Relief Grant Program that will provide grants of $5,000 to RI Small Businesses that have suffered financially from COVID-19. To be eligible, the applicants must be small RI based-for-profit businesses (sole proprietors are included) with less than $1M in 2020 “gross receipts or sales”. Additionally, they must be able to demonstrate that they have a COVID-related net financial need of $5,000 or more. Applications can be accessed by clicking on the link below. The deadline to apply for the RI Small Business Relief Grant Program is April 30, 2021 at 5 PM.
On December 21, 2020, Congress passed significant legislation to not only avert a government shutdown but to also provide much needed relief for individuals and businesses suffering from the negative economic effects of the coronavirus. Our team has analyzed more than 5,000 pages of the legislation and boiled it down for you with "Key Takeaways," that highlight what you need to know about the next round of Stimulus Payments, important modifications to PPP Loans, an extension of the Employee Retention Credit with beneficial changes, Unemployment Benefits, and other important provisions.
The Raimondo Administration announced the launch of Restore RI, a grant program for small businesses that have been most severely impacted by the COVID-19 pandemic.
Restore RI will begin taking applications on Monday, August 3, 2020 and eligible businesses accepted into the program will receive grants of up to $15,000. Click below for key take-aways, including who qualifies, grant amounts and the application process and instructions.
On Monday, June 15, the SBA announced that all small businesses could now re-apply for Economic Injury Disaster Loans (EIDL). In addition, the SBA is offering up to $10,000 in emergency advances to a wider array of small businesses that are experiencing hardship as a result of COVID-19. For details and access to the application, please click below.
On June 4, 2020, the Senate unanimously passed the Paycheck Protection Program Flexibility Act of 2020 (PPPFA) to provide much needed relief for recipients of Paycheck Protection Program (PPP) loans, which were enacted as part of the CARES Act. We have summarized the six main takeaways from the legislation.
On March 20, 2020 the Treasury Department and Internal Revenue Service issued Notice 2020-18, which restated and expanded upon the relief provided in Notice 2020-17, issued in response to the COVID-19 (“coronavirus”) pandemic. Please download our Advisory for the five key take-aways.
The U.S Small Business Administration (SBA) announced 3/18/2020 that it is offering low-interest Economic Injury Disaster Loans of up to $2 million to Rhode Island small businesses suffering substantial economic injury as a result of COVID-19. To learn more about who is eligible and how this may help you, please download our firm's Advisory.
On March 25, 2020 the senate unanimously passed The Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) to provide relief for individuals and businesses suffering from the negative economic effects of the coronavirus. We have summarized below some of the key takeaways from the legislation.
Restivo Monacelli LLP has implemented preventative safety measures under an abundance of caution to ensure we are protecting those who work closely with us and their families, while maintaining the level of exceptional client service that we all expect.