Brewed Awakenings, a Rhode Island based chain of Coffee Cafe’s, has, like many Rhode Island restaurants, seen their business ruthlessly challenged by the 1 2 punch of a Pandemic, followed by a seemingly endless, oft changing list of rules, infrastructure investments. and state imposed limitations on their ability to conduct business. Imagine, than, the reaction of Brewed Management when informed that Tidewater Landing (AKA #38Soccer) was the recipient of a 36Million Dollar Loan, to be repaid by sales tax revenue
Governor McKee:
The Rhode Island Commerce Corporation recently announced the creation of a 36$ Million loan to what is now referred to as #38Soccer AKA Tidewater Landing for the benefit of developer Fortuitous Partners.
The financial response by the State of Rhode Island has been wholly inadequate. Despite a 1 Billion Dollar plus cash infusion by the Federal Government, little has been provided to small business, in exchange for state mandated shutdowns. In at least one case, a check for 250$ for a single location of a multi unit chain restaurant. A total of approximately 20,000$ received for said business that realized a loss in sales of over 2 Million Dollars
My Question:
Given the ease at which the availability of this credit line was generated, and it’s generous repayment terms: Will the Government of Rhode Island create a similar line of credit to support the existing, locally based business community, many of whom have suffered calamitous losses caused by the State’s arbitrary & capricious operating guidelines, with similar repayment terms: sales tax collected by these businesses will be used to repay their credit lines
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Video Interview: The Coalition Radio Focus On Business: Dave Levesque – Brewed Awakenings
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Statement/Question As Asked:
Governor McKee:
Despite a 1 Billion Dollar plus cash infusion by the Federal Government, not enough has been provided to small business. In at least one case, a check for 250$ for a single location of a multi unit chain restaurant. In that one case, roughly 20,000$ was received for a business that realized a loss in sales of over 2 Million Dollars
Meanwhile The Rhode Island Commerce Corporation recently announced the creation of a 36$ Million loan to what is now referred to as #38Soccer AKA Tidewater Landing for the benefit of developer Fortuitous Partners.
My Question:
Given the ease at which the availability of this credit line was generated, and it’s generous repayment terms: Will the Government of Rhode Island create a 50Million$ line of credit to support the existing, locally based business community, with similar repayment terms: sales tax collected by these businesses will be used to repay their credit lines.
The Rhode Island Commerce Corporation has presided over a seemingly endless, multi generational string of investment failures. Their constant MO? Feeding out of state developers, carnies and hoodlums a trough of Rhode Island Taxpayers money belied by false promises, lies, and deception.
What Do You Think?
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