$35 Million DC Restaurant Bridge Fund Application Now Live – Details Here

Today, DC made the application for the $35 million DC Restaurant Bridge Fund live. The application will close COB Monday December 28th (another week for restaurants in Wards 5, 7, and 8).  Grants of $10,000 – $50,000 will be provided to at least 700 restaurants (including fast food spots, cafes, delis, coffee shops, food trucks, cafeterias, as well as certain bars and breweries with tavern/restaurant licensees that receive at least 25% of their income from food sales) that were open before October 1st and suffered at least 25% decrease in revenue during pandemic. Spots must actually be open and operating for at least takeout/delivery now (and have a plan to remain open) to receive a grant; the at least 80+ spots that are not currently open will not be eligible. Note: Those spots who take a hiatus during the indoor dining pause are eligible if they reopen by the time pause ends on January 15th.

Funds can be used for:

  • rent/mortgage/docking expense
  • payroll
  • insurance
  • fuel for food trucks
  • utilities
  • expenses related to winterization or COVID-19 prep

Bars that don’t have 25% food revenue will be able to apply for the Entertainment Bridge Fund while breweries/distilleries with manufacturer licenses will be able to appy for Retail Bridge Fund (meaning all except Atlas-which recently changed its licenses, Right Proper Shaw, and Bluejacket are not eligible for this fund).

Funds will be issued on criteria:

  • Amount of economic distress
  • business viability
  • years/months spot has been revenue generating in current location
  • DC resident employed as of Sept 30th (furloughed/laid off don’t count)

Some other relevant restrictions:

  • If spot opened after March 17th, 2020, must show at least $25,000 in revenue
  • Max $10 million revenue for 2019 or max $7.5 million revenue in Jan-Sept 2020. Meaning Old Ebbitt Grill, The Hamilton, and probably some other spots will unlikely be eligible for the funds.
  • Franchises allowed to apply but must be independelty owned/operated.
  • Owners of more than 1 restaurant can apply for up to 5 restaurants
  • Pop-ups/seasonal restaurants with less than 12 month leases can’t apply
  • Sole proprietors that own spots (e.g. food truck) have to be DC residents
  • Bars and restaurants with club/multipurpose/nightclub licenses

A mininum 15% will be reserved for businesses owned by woman/economically disadvantaged DC residents.

Documentation that must be provided by Dec 28th include:

  • Valid basic business license
  • EIN verification
  • clean hands certificate
    • Means that business is not more than $100 in debt to DC Office of Tax and Revenue. More than $100 in debt is ok if they  are current on a payment plan
  • 2018 revenue info (if open)
  • 2019 profit/loss monthly statements (if open)
  • 2020 profit/loss monthly statements for Jan-Sept 2020 (whichever months have been open)
  • Employee numbers for Jan-March, April-June, July-Sept 2020
  • Employee roster as of Sept 30th: employee names, state of residency, full-time/part-time

The application also asks whether spot received other COVID-19 related grants and PPP loan, which implies that receiving other funds may impact amount of Bridge Fund grant.

Awards will be notified in Jan-Feb 2021 with money disbursed after that.

This info was taken from the following:

1 thought on “$35 Million DC Restaurant Bridge Fund Application Now Live – Details Here

  1. Damian Hinojosa

    Desde la entrada, sea cual sea el lugar, vivirás una experiencia que enriquecerá tanto tu alma como tu cuerpo, pues a la par de las diversas alternativas de comida saludable también te relajarás con lindas armonías que te harán dejar de lado los pensamientos negativos para disfrutar un momento sin igual.

    Reply

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