Online grocer Buffalo Market has launched the Restaurant Bridge, a program to give restaurants and select businesses access to six-month lines of credit, reports Progressive Grocer. The initiative was first piloted in San Francisco and is now rolling out to more businesses in the Bay Area and, based on availability, the rest of the state.
“Restaurants and hospitality workers have made tremendous sacrifices during the COVID-19 pandemic,” said Buffalo Market co-founder Sean Howell. “Many restaurants have pivoted to delivery and takeout to continue serving their communities while keeping Californians safe. Restaurant Bridge is an effort to provide those businesses much needed relief and to help them to stay afloat.”
Applications are available through April 17. Selected restaurants will be notified of approval within 72 hours. Once approved, businesses can order from Buffalo Market to supply their restaurants and businesses with necessary provisions, after which payments won’t become due for up to six months, with no additional fees or interest.
“Through this program, we hope to help over 1,000 California businesses and over 50,000 restaurant workers,” said CEO Adam Olejniczak. Full Story
Related: Biden Expected to Sign Relief Package; CA Relief Package Includes $2 Billion in Grants for Small Businesses.