The Independent Restaurant Coalition (IRC) and Chase has officially announced a multi-year partnership, geared towards offering meaningful support for independent restaurants and bars to further strengthen their status as critical employers and leaders in communities nationwide.
According to certain reports, this new partnership essentially includes two grant programs i.e. the IRC and Chase Disaster Relief Fund and the IRC and Chase Innovator Awards to collectively award $4 million to independent restaurants and bars across the country.
Under the agreed terms, the IRC and Chase Innovator Awards will open grant applications to provide $1 million in funding for independent restaurants and bars that use innovative business practices and positively impact their communities. These practices may include prioritizing sustainability, utilizing local products and services, and supporting the health and well-being of their teams.
Beyond that, IRC and Chase Disaster Relief Fund will begin accepting applications to award $3 million in grants to support independently owned restaurants, bars, cafés, and food trucks recovering from natural disasters like hurricanes, wildfires, tornadoes, ice storms, flooding, and more.
“Restaurants are often among the first in their communities to lend a hand. Thanks to Chase, we can finally do something to help businesses who have sacrificed so much for their neighbors,” said Bobby Stuckey, Partner and Master Sommelier of Frasca Hospitality Group and co-founder of IRC. “Independent restaurants support first responders, feed the hungry, and support other businesses in the communities they serve. Chase understands that, which is why we are proud to collaborate with them on programming that advances the work of these vital businesses.”
To understand the significance of such a development, we must take into account how independent restaurants and bars are both significant drivers of the U.S. economy and their individual communities. You see, they make up 69% of the total restaurant industry, but having said so, most are operating on pre-tax profit margins of 3%-5%. This creates for them an extremely high financial burden.
Against that, Chase will provide financial and educational resources to IRC members, as well as access to research and data and marketing support through industry activations and sponsorships.
Talk about two grant programs on a slightly deeper level, we begin from IRC and Chase Disaster Relief Fund, which aims to provide independent restaurant and bar owners with essential financial relief, helping them address immediate needs to stay in business, including property damage, temporary operating expenses, lost inventory, and more.
The stated fund arrives on the back of a natural disasters’ flurry in recent years. For better understanding, one month after the Southern California fires, businesses in Malibu that reopened were losing 50% to 85% of their revenue due to fire damage and road closures.
Apart from it, the Minden–Harlan (Iowa) tornado was also found to have inflicted $12.2 million in damages, decimating 90% of the business district. Moving on from that, one month after 2024 North Carolina Hurricanes, nearly 80% of Asheville’s businesses and homes did not have drinking water.
Hence, to avail the benefits of Chase and IRC’s fund, restaurants must complete an eligibility screener to confirm they meet basic requirements, including being independently owned, operating fewer than 20 locations nationwide, and having sustained direct disaster-related damage within the past 12 months. Markedly enough, businesses affiliated with national chains, franchises, or publicly traded companies are not eligible to apply.
Turning our attention towards IRC and Chase Innovator Awards, they will recognize 40 independent restaurants and bars with $25,000 grants to strengthen the ideas, practices, and business models that promote sustainability and environmental innovation. The relevant lot includes zero-waste kitchens and low-carbon menus, along with workforce and industry innovation like childcare support and leadership or culinary training.
“It is an honor to support the people who make our communities stronger every day,” said Erika Polmar, Executive Director of the Independent Restaurant Coalition. “Independent restaurants and bars are first jobs and second chances—the place where people gather, celebrate, and find comfort—and the people behind them are often the first to show up when their neighbors need help. Just this month, we’ve seen independent restaurants in Texas feed first responders. Their generosity, resilience, and creativity are unmatched.”
