Bridge Closure Causes Financial Strain for Small Businesses in Providence

Small businesses in Providence, Rhode Island, are experiencing financial losses due to heavy traffic caused by the closure of the Washington Bridge. While officials are working on a plan to reimburse affected businesses, the details are still being determined. The Rhode Island Small Business Administration may request a disaster declaration to provide loans of up to $2 million at a 3.5% interest rate. Many businesses have reported a significant increase in cancellations and loss of revenue. Despite the challenges, some businesses are receiving support from neighboring establishments. The governor has received assurance of assistance from the White House, although it is unclear if a federal disaster declaration will be granted.