The deadline for the second round of applications for the Bridge Fund has been extended until Thursday, March 31 st at 5:00pm. Businesses that have not yet submitted their applications will have an additional two weeks to apply. The Bridge Fund is designed to provide financial relief to small businesses in the retail, restaurant, and entertainment sectors that have experienced revenue loss as a result of the COVID-19 pandemic. Businesses that have not received previous federal funding and businesses that generated less than $2.5 million in revenue will receive priority. This is a noncompetitive grant; businesses that meet the eligibility criteria, submit a complete application, and provide all required documentation will receive an award, with consideration to core expenses, economic distress, location, length of revenue generating operations, and District resident employment.
Awards will range from $20,000-$100,000.
Use of Award
- Business rent/mortgage (if the business owes back rent at least 50% of the award must be applied to rent)
- Payroll and labor
- Inventory (supplies but not merchandise for sale)
- Operating expenses
The Bridge Fund will be open to businesses that meet the following criteria:
- A small business in the restaurant, retail, or entertainment sector
- For-profit, small business physically located in the District of Columbia at a brick-and-mortar location
- Generated no more than $5 million in gross receipts each in 2019, 2020, and 2021 (priority for businesses generating no more than $2.5 million)
- Experienced at least a 20% loss of revenue as a result of the COVID-19 pandemic, during the period April 1, 2020-December 31, 2021 (changed from 30% previously)
- Has an active DC Basic Business License and an active ABRA License, if applicable
- Businesses that applied during the previous period of the Bridge Fund (closed February 25 at 11:59 PM EST) are not eligible to apply during the next period (closing March 31 at 5:00 PM EST)
- The Bridge Fund will prioritize businesses that have not received federal relief funds and microbusinesses with $2.5 million or less in revenue. Businesses that received awards from the Paycheck Protection Program are eligible to apply.
If you have questions about the application, want to know whether your businesses is eligible, or if you need assistance completing the application, contact us at email@example.com. Businesses can also request technical assistance from City First Enterprises by emailing thebridgefund@cfenterprises.
Click here for information about the Bridge Fund, including eligibility criteria, a list of eligible business types, Frequently Asked Questions, and more!
For questions regarding the grant and application, please contact firstname.lastname@example.org.
To apply click HERE.