(Washington, DC) – Today, ahead of National Small Business Week, Mayor Bowser is encouraging local small business owners to apply for the Restaurant Revitalization Fund, a relief program operated by the U.S. Small Business Administration (SBA) that will provide emergency assistance for eligible restaurants, bars, food trucks, and other qualifying businesses impacted by the COVID-19 pandemic. Registration for the SBA Application portal began today, and applications will open on Monday, May 3 at noon. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023. More information, including eligibility guidelines and application details, can be found here.
“The Restaurant Revitalization Fund is making billions of dollars available, and we want DC businesses to be first in line to get these critical funds. So help us spread the word that businesses should register for the portal starting today and be prepared to apply on Monday, May 3,” said Mayor Bowser. “We thank President Biden and his Administration for his leadership in ensuring that our entrepreneurs and business owners have the funding necessary to recover strong, and we urge Washingtonians to support those recovery efforts by continuing to shop local.”
The Restaurant Revitalization Fund, established by the American Rescue Plan Act, will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location.
“As we continue our economic recovery, it is critical that District businesses apply for the billions of federal funds available to them through the Biden Administration,” said Deputy Mayor for Planning and Economic Development John Falcicchio. “This funding will ensure that our entrepreneurs and the workers they employ can recover strong and get to the other side of this pandemic.”
Mayor Bowser also urged residents to continue supporting small and local businesses as the District continues its economic recovery efforts. Residents can do that by participating in the #iBuyDC Challenge, a citywide campaign to support and promote District businesses. This campaign allows residents and businesses to showcase how they support the local economy every day, while highlighting local businesses they love to visit and inspiring friends and family to do the same.
“As we celebrate our small and local businesses, Mayor Bowser understands that District businesses need all the support they can get from the District residents that patron their businesses every day,” said Department of Small and Local Business Director Kristi C. Whitfield.
“Through the #iBuyDC Challenge, we can join together to support and promote our small and local business community as they pivot, survive and thrive.”
Residents can also support local entrepreneurs, by visiting Shop in the District, a website that provides a comprehensive guide to local retailers, each featuring a curated list of unique gifts that is reflective of the diverse DC community.
Since the COVID-19 public health emergency began in March, the District has made available more than $150 million to support small and local businesses and nonprofits through various funding opportunities, including the Bridge FundDC Small Business Microgrant Program, the Ward 7 and 8 Microgrant Program, the Small Business Resiliency Fund>, DC Child Care Provider Relief Fund, the Legacy Business Supplemental Microgrant Program, and the Streatery Winter Ready Grant Program (in partnership with Mayor’s Office of Nightlife and Culture). DSLBD has also strategically supported the District’s business community in several ways, including:
- Securing an SBA declaration for economic injury assistance, allowing District businesses to be the first in-line in the region to apply for pandemic disaster loans.
- Assisting numerous businesses across all industries with federal loan application processes.
- Distributing over 4,500 PPE Care Packages to small and local businesses through District Main Streets and BIDs to assist them in their reopening efforts.