🚨FUNDING ALERT | Restaurant Bridge Fund - Deadline Dec 28th @ 5pm!!!
The Restaurant Bridge Fund aims to provide competitive grants to eligible restaurant and food services establishments that have experienced significant economic distress due to the COVID-19 public health emergency and made plans to respond and adapt to these challenging circumstances. Full-service restaurants with restaurant licenses, including limited-service restaurants, fast food restaurants, and food service providers such as bars and taverns with a tavern license, wineries, breweries and distilleries with a tavern license, bakeries, cafes, delicatessens, coffee shops, vending trucks or carts, food trucks, caterers, food courts, and cafeterias would be eligible to apply for the Restaurant Bridge Fund. The funds will support general operational expenses (rent/mortgage/docking expense, payroll, insurance, fuel for mobile vendors, and/or utilities), and expenses incurred related to winterization or COVID-19 preparation.
The Restaurant Fund will award at least 700 grants for eligible businesses with consideration to economic distress, business viability, length of revenue generating operations, and District resident employment. Additionally, 15% of the funds ($5.25M) will be set aside for businesses meet the following conditions:
Are eligible to be a Resident-Owned Business (ROB)
Are eligible to be a Small Business Enterprise (SBE); and
Are at least one of the following: at least 51% owned by economically disadvantaged individuals OR at least 51% owned by a woman or majority of women.
Applicants for the set-aside must also meet the eligibility requirements for the Bridge Fund Restaurant program (below).
Owners of multiple businesses may apply for each business separately, as long as each business has a separate EIN, up to a maximum of 5 businesses.
The Restaurant Bridge Fund will be open to businesses that meet the following criteria:
Must be located in the District of Columbia
Must be currently open & operating. Businesses temporarily closed due to the recent restrictions on indoor dining and have plans to reopen on or before January 15, 2021 are eligible to apply.
Business must have been revenue generating prior to October 1, 2020.
If the business opened after March 17, 2020 and before September 30, 2020, the business must have generated a minimum of $25,000 in revenue.
Must have and submit a DC Basic Business License and all other applicable ABRA licenses.
Maximum of $10 million in annual revenue for 2019 and/or $7.5 million in revenue as of September 30, 2020.
Franchises must be independently owned & operated.
Must demonstrate financial distress of 25% in decrease in revenue during COVID-19.
Must be Local Business Enterprise (LBE) eligible.
Must have a current Certificate of Clean Hands (dated within 90 days prior to application submission date)
How to Apply?
Due to the upcoming Holiday observances, the Restaurant Bridge Fund application will be open for three (3) weeks, opening on Monday, December 7, 2020 and closing on Monday, December 28, 2020 at 5 pm/EST.
Application extension for business located in Wards 5, 7, and 8 (pending funding availability): January 4 at 5 pm/EST.
