Small Business Grants in Rhode Island
The funding programmes below are administered mainly by Rhode Island Commerce (RI Commerce). Some of it is not free money.
The funding programmes below are administered mainly by Rhode Island Commerce (RI Commerce). Some of it is not free money. The cards show the type and the current status. From innovation R&D vouchers to minority business accelerator grants, the Ocean State provides targeted funding to help your business grow.
Which Rhode Island grants fit your business?
Answer 7 quick questions and we sort the 10 programs on this page into likely fits and long shots. Nothing personal is asked or stored, and final eligibility is always decided by the granting agency.
Rhode Island Small Business Grant Programs
State-administered funding programs available to Rhode Island small businesses. Verify deadlines directly with the granting agency before applying.
Innovate Rhode Island Small Business Fund (IRISBF)
RI Science & Technology Advisory Council (STAC)
$3,000 - $150,000
RollingGrants to help small businesses with 50 or fewer employees offset costs of applying for federal SBIR/STTR awards (up to $3,000), match Phase I awards (up to $75,000) or Phase II awards (up to $150,000), and hire interns (up to $6,500).
Minority Business Accelerator Direct Grant Program
Rhode Island Commerce Corporation
Up to $20,000
RollingA $2 million grant program providing direct grants of up to $20,000 to eligible women- and minority-owned businesses with gross receipts under $2 million. Applicants must have completed a technical assistance program through the Minority Business Accelerator.
Innovation Network Matching Grant Program
Rhode Island Commerce Corporation
Varies
RollingProvides grants to intermediary organizations that support small businesses with technical assistance, access to capital, or flexible workspace. Since 2016, the program has awarded 49 grants totaling more than $5.5 million.
Innovation Voucher Program
Rhode Island Commerce Corporation
Up to $75,000
Provides grants of up to $75,000 to Rhode Island small businesses (500 or fewer employees) to fund research and development in partnership with local knowledge providers such as universities, medical centers, or research institutions. The program has awarded more than $7 million in R&D funding since 2016.
Invention Incentive Program
Rhode Island Commerce Corporation
Up to $5,000
Deadline May 1, 2026A reimbursement grant covering up to $5,000 of legal fees and application filing fees incurred when filing a patent application with the U.S. Patent and Trademark Office. Open to Rhode Island residents and small businesses with 500 or fewer employees.
Main Street RI Streetscape Improvement Fund
Rhode Island Commerce Corporation
Varies
Deadline May 29, 2026Provides grants for projects that improve the appearance, accessibility, and appeal of commercial districts, including sidewalks, lighting, signage, and landscaping. The state has awarded more than $7 million through this fund to date.
View program pageFederal Grant Programs
These federal programs are available to small businesses in every state.
SBA 7(a) Loan Program
The SBA's primary lending program guarantees loans through participating lenders. This is a loan, not a grant. But the terms favor small businesses that may not qualify for conventional financing.
Learn moreSBA Microloan Program
Loans up to $50,000, not grants. You borrow from a nonprofit lender near you, not from the SBA itself. The money can cover working capital, inventory, supplies or equipment. Most people get far less than the cap. The average microloan is about $13,000.
Learn moreSBIR/STTR Grants
Competitive federal grants for small businesses doing research and development with commercial potential. Eleven federal agencies take part. Phase I funds proof of concept. Phase II funds full development.
Learn moreMinority Business Development Agency (MBDA) Programs
Help for minority owned businesses that need capital, contracts or new markets. MBDA runs business centers around the country. They give advice, help with bids, and point you toward lenders.
Learn moreGet Grant-Ready
Before you apply, most Rhode Island grant programs expect these basics to be in place.
Form your business entity
Most Rhode Island grant programs require applicants to be a registered LLC, corporation, or nonprofit. If you haven't formed yet, that's the first step.
$39 + state fee. Includes registered agent, business address, and more.
Get your EIN
An Employer Identification Number is free from the IRS and required on nearly every grant application. You can apply online and receive it immediately.
Open a business bank account
Grant funds need to go into a dedicated business account, not your personal checking. Most agencies will ask for your banking details on the application.
Mercury is a fintech company, not an FDIC-insured bank. Banking services provided through Choice Financial Group and Column N.A., Members FDIC.
Grants by Business Type
Targeted programs for specific business owners in Rhode Island.
Women-owned Business Grants
Women-owned businesses in Rhode Island can apply for the Minority Business Accelerator Direct Grant Program, offering up to $20,000 in direct grants. Getting WBE certification through the state's Division of Equity, Diversity & Inclusion (DEDI) can also provide a competitive edge for state contracts.
- ›Minority Business Accelerator Direct Grant Program
- ›DEDI MBE Compliance Office
Minority-owned Business Grants
Rhode Island offers dedicated support for minority-owned businesses, including the $2 million Minority Business Accelerator Direct Grant Program and the SupplyRI initiative connecting diverse suppliers with large-scale purchasers. State law requires a minimum of 15% of state procurement contracts be awarded to certified MBE/WBE firms.
- ›Minority Business Accelerator Direct Grant Program
- ›SupplyRI
- ›DEDI MBE Compliance Office
Veteran-owned Business Grants
Veteran-owned businesses in Rhode Island can apply for Veteran Business Enterprise (VBE) certification through the Division of Equity, Diversity & Inclusion, which provides access to state contracting opportunities and procurement advantages.
- ›DEDI VBE Certification Program
- ›SBA Rhode Island District Office
Technology/Innovation Business Grants
Rhode Island has a strong innovation portfolio including Innovation Vouchers (up to $75,000 for R&D), the Innovate RI Fund (SBIR/STTR matching grants up to $150,000), the Invention Incentive Program (up to $5,000 for patent filings), and the Innovation Network Matching Grant program.
- ›Innovation Voucher Program
- ›Innovate RI Small Business Fund
- ›Invention Incentive Program
- ›RI Science & Technology Advisory Council
Tips for Applying in Rhode Island
Increase your chances of approval with these state-specific tips.
- 1Register on the eCivis Portal before applying for state grant opportunities listed through the Rhode Island Grants Management Office. New users will need to create an account.
- 2Obtain a Unique Entity Identifier (UEI) at SAM.gov at no cost. This is required before you can receive any state or federal grant funds in Rhode Island.
- 3If you are a minority- or woman-owned business, apply for MBE/WBE certification through the Division of Equity, Diversity & Inclusion (DEDI). The certification process takes up to 90 days, so plan ahead.
- 4For Innovation Voucher applications, watch for specific funding rounds announced by Rhode Island Commerce. The program typically opens multiple rounds per year, and you can sign up for the Innovation Initiatives mailing list for notifications.
- 5Prepare a detailed business plan showing how grant funds will be used. Rhode Island grant programs commonly require documentation of your business structure, financial need, and projected outcomes.
State Economic Development Agency
Rhode Island Commerce (RI Commerce)
Rhode Island Commerce is the state's economic development agency that administers grants, loans, tax incentives, and business assistance programs to foster business growth and strengthen the state's economy.
Funding While You Wait
Grant applications in Rhode Island can take weeks or months to process. These options can bridge the gap.
Grants in Other States
All state grant guidesFrequently Asked Questions
Yes, Rhode Island offers several true grant programs that do not require repayment. The Innovation Voucher Program provides up to $75,000 for R&D projects, the Invention Incentive Program offers up to $5,000 for patent filing costs, and the Minority Business Accelerator Direct Grant Program provides up to $20,000 for eligible women- and minority-owned businesses. All of these are administered by Rhode Island Commerce and do not need to be repaid.
The Innovation Voucher Program is one of Rhode Island's most established and frequently awarded grant programs for small businesses. Since 2016, it has supported over 130 companies with more than $7 million in R&D funding. Rhode Island Commerce accepts applications on a rolling basis in multiple funding rounds per year, making it accessible to businesses with 500 or fewer employees seeking to develop new products or services.
Certification is not required for most Rhode Island grant programs, but it provides advantages. For the Minority Business Accelerator Direct Grant Program, applicants do not need M/WBE certification to qualify, but certified businesses are prioritized. You can apply for MBE, WBE, or VBE certification through the Division of Equity, Diversity & Inclusion (DEDI) at (401) 574-8606. The certification process takes approximately 90 days.
Timelines vary by program. Innovation Voucher applications are reviewed in batches during funding rounds, and approvals are voted on by the Rhode Island Commerce Board of Directors at its monthly meetings. From application to board approval, expect 2 to 4 months. Once approved, you will need to complete additional steps including obtaining a UEI at SAM.gov before funds are disbursed. The Invention Incentive Program processes reimbursements after patent application expenses are incurred.
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Grant programs change frequently. Deadlines, eligibility requirements, and funding amounts listed here may be outdated. Always verify information directly with the granting agency before applying. This page is for informational purposes only and does not constitute financial or legal advice.
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