$40 Million DC Bridge Fund Open for Applications
January 25, 2022
The District of Columbia is now taking applications for the DC Bridge Fund. These are grants and not loans. The fund is $40,000,000. The grants are for DC small businesses in the retail, restaurant, hospitality and entertainment sectors that have experienced revenue declines, costs, or financial losses due to COVID-19 during the period April 1, 2020 through December 31, 2021. These grants may be spent on rent, payroll and labor, inventory and operating expenses. If a business owes back rent, at least 50% of the award must be spent on back rent, up to 100% of the amount of back rent owed.
Any business that received an award from the Restaurant Revitalization Fund, Shuttered Venue Operators Grant, or the Arts and Entertainment Venue Relief Fund are not eligible. If you received a PPP loan, you are still eligible, and those who did not receive such loan will be prioritized.
If you need assistance with eligibility criteria and submitting the application, contact Paul O’Reilly or the Shulman Rogers attorney with whom you regularly work.
The contents of this Legal Alert are for informational purposes only and do not constitute legal advice.