Maintaining a restaurant has been extremely challenging during this pandemic. Restaurants have had to make extreme adjustments in such a short time. A lot of restaurants remain open. Remarkably, some are even thriving. Unfortunately, however, many restaurants have closed in 2020. Restaurant owners constantly battle daily stresses of wonerding how they will maintain their restaurants amid the increased restrictions. If you own and operate a restaurant in Washington, D.C. and need some relief, have no fear…help is on the way.
Washington, D.C. Mayor Muriel Bowser announced financial relief and assistance for restaurants with the Restaurant Bridge Fund. The Restaurant Bridge Fund is a $35 Million Fund available for restaurants in Washington, D.C. Applications opened on December 7, 2020. Restaurants can submit applications through December 28, 2020. Now, let’s get into the details.
Who can Apply?
Full service restaurants with restaurant licenses including:
- Limited service restaurants
- Fast Food Restaurants
- Bars and Taverns
- Coffee Shops
- Food Trucks
- Vending carts
- Food Courts
What do the funds support?
Funds will support general operating expenses including:
- Rent/Mortgage/Docking Expense
- Fuel for mobile vendors
- Winterization expenses
At least 700 grants for eligible businesses will be awarded. What’s more, 15% or $5.25 Million will be awarded to businesses that meet the following criteria:
- Resident Owned Business (ROB)
- Small Business Enterprise (SBE)
- A restaurant with 51% ownership by an economically disadvantaged person
- A restaurant with 51% ownership by a woman or majority of women
If you own multiple restaurants, congratulations on maintaining all of the restaurants during this pandemic. You can apply for a grant for up to five (5) restaurants as long as they each have a separate EIN.
To qualify for the grant, your restaurant must meet the following criteria:
- Must be located in Washington, D.C.
- Must employ one district resident
- Must be currently open
- Must have generated revenue prior to October 2020
- If you opened between March 17, 2020 – September 30, 2020, you must have generated $25,000 in revenue.
- Must have a DC Basic Business license and applicable ABRA license
- Must have made a maximum of $10 Million in revenue in 2019 and/or $7.5 Million by September 30, 2020.
- Must demonstrate financial distress of at least 24% due to the pandemic
- Must be Local Business Enterprise (LBE) eligible
- Must have current Certificate of Clean Hands dated within 90 days of the date you submit the application.
To apply for the Restaurant Bridge Fund, click here Apply Today
For more information, visit https://coronavirus.dc.gov/bridgefund
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