Mayor Bowser and the Office of the Deputy Mayor for Planning & Economic Development (DMPED) are investing $40 million in the Bridge Fund, which will offer grants aimed at supporting the recovery and long-term viability of small businesses in the restaurant, retail, and entertainment industries that have been significantly affected by the COVID-19 pandemic.
Donor Name: Office of the Deputy Mayor for Planning & Economic Development (DMPED)
State: District of Columbia
County: All Counties
Type of Grant: Grant
Deadline (mm/dd/yyyy): 02/25/2022
Size of the Grant: $40 million
Details:
Small businesses are still recovering from revenue losses experienced during the Public Health Emergency and are facing new challenges from new COVID variants. While many of these businesses have received relief funds from District and federal relief programs, they continue to need financial support to ensure they can fully recover and remain viable in the future. The Bridge Fund will provide financial relief to small businesses that earned $5 million or less and experienced at least a 30% reduction in revenue during the Public Health Emergency related to COVID-19. This program will prioritize businesses that have not received federal relief funds (Paycheck Protection Program).
The Bridge Fund is a non-competitive grant program that will award eligible small businesses with consideration to core expenses, economic distress, location, length of revenue-generating operations, and District resident employment. During the application review period, businesses that meet the following criteria will receive priority review for eligibility and award amount:
- Businesses with no more than $2.5 million in revenue each in 2019, 2020, and 2021
- The business that did not receive an award from the Paycheck Protection Program
Eligibility Criteria
The Bridge Fund is open to businesses that meet the following criteria:
- Must be a business in the retail, restaurant, or entertainment sector that is an eligible business type
- Must be a for-profit, small business physically located in the District of Columbia at a brick-and-mortar location
- Must have earned no more than $5 million in gross receipts in each 2019, 2020, and 2021
- Must be able to demonstrate at least 30% loss of revenue when comparing the worst consecutive three-month period to the best consecutive three-month period, during the period April 1, 2020, to December 31, 2021
- If a franchise with multiple locations must be independently owned and operated
- Must be currently in operation unless mandated otherwise by public health guidance
- Must demonstrate business has site control of the space
- Must be able to provide a Certificate of Clean Hands (dated within 90 days of application)
- Must have an active DC Basic Business License and any active applicable ABRA License
- Businesses that received an award from the Restaurant Revitalization Fund, Shuttered Venue Operators Grant, or the Arts and Entertainment Venue Relief Fund are not eligible
- Owners of multiple businesses are eligible, as long as each location has a unique EIN and satisfies all eligibility criteria, up to a maximum of 5 locations
- Sole proprietors must be District of Columbia residents.
For more information, visit The Bridge Fund.
