Friday, April 4, 2025
HomeBusinessDistrict to Grant $100 Million in COVID-19 Recovery to Local Businesses

District to Grant $100 Million in COVID-19 Recovery to Local Businesses

-

The Office of DC Mayor Muriel Bowser announced on Wednesday “Bridge Fund,” a new program that will designate up to $100 million in grant funding for local businesses struggling during the coronavirus crisis.

The Bridge Fund will consist of $20 million from the city’s federal CARES Act funding and $80 million from a local reserve. The money coming from the CARES Act will be given by the end of this year.

The fund will be distributed through four programs as follows:

  • Restaurant Bridge Fund: $35 million
  • Hotel Bridge Fund: $30 million
  • Entertainment Bridge Fund: $20 million
  • Retail Bridge Fund: $15 million

“Through the Bridge Fund, the District will strategically invest to sustain the hospitality, entertainment, and retail industries to help mitigate the ongoing impact of COVID-19 on workers and businesses,” the Office of DC Mayor said in a statement.

Applications will be accepted starting from December 22, 2020.

DC’s hotel revenue has seen a $1.4 billion drop compared to last year.

You Might Also Like

Latest Posts

Planning a Wedding? Here’s How to Walk Down the Aisle in DC

If you’re looking to tie the knot in Washington, DC, you may have some unanswered questions. Here's all you need to know so you can enjoy your special day instead of stressing over the paperwork.

Best Nail Salons in Washington DC: Manicure, Nail Art & Pampering

Whether you're looking for a quick manicure or a full set of acrylic nails, Washington DC has a salon that can meet your needs.

Best Theme Parks In and Near Washington DC

Are you craving the thrill of a high-speed coaster? Or perhaps you would prefer to slip and glide down some water slides? Washington DC and its surrounding area have a surprising number of theme parks!