Keeping Local Restaurants Cooking: 154 Restaurants to Receive $5,000 Resilience Grants Funded by The PG&E Corporation Foundation
Rhea-AI Summary
The PG&E Foundation is providing $900,000 in funding to support 154 local restaurants and commercial caterers in Northern and Central California through the California Restaurant Foundation's (CRF) Restaurants Care Resilience Fund. Each recipient will receive a $5,000 grant to invest in equipment upgrades, workforce training, and other business improvements.
Key points:
- Grants are available to California resident restaurant owners with fewer than five locations and less than $3 million in revenue
- 80% of recipients are single-location establishments
- 79% of recipients identify as female, and 76% identify as minority owners
- 70% plan to use the grants for kitchen equipment or technology upgrades
- Since 2021, PG&E and the PG&E Foundation have contributed $3.2 million to the CRF's Resilience Fund
Positive
- PG&E Foundation's $900,000 contribution supports 154 local restaurants and caterers
- Each recipient receives a $5,000 grant for business improvements
- Grants prioritize minority- and women-owned businesses
- PG&E and PG&E Foundation have contributed $3.2 million to the CRF's Resilience Fund since 2021
- PG&E offers various support programs for small and medium businesses, including 0% interest loans and energy efficiency rebates
Negative
- None.
News Market Reaction
On the day this news was published, PCG gained 0.51%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
PG&E Foundation Funding for Fourth Consecutive Year Supports Hometown Restaurants, Commercial Caterers
The PG&E Foundation's
The PG&E Foundation's contribution to CRF's Restaurants Care Resilience Fund current grant cycle will help grantees pay for equipment and technology upgrades, unforeseen hardship, employee retention bonuses and training to help restaurant owners invest in their business and people. Grants were made available to
For the first time this year, the grants were open to commercial caterers based on appeals for support for catering companies because they also are part of the local food scene.
Plant Slayer, which started out as a food truck in 2020 before becoming a brick-and-mortar establishment in downtown
"Running a restaurant is really difficult in California… fees, employees, the cost of goods going up — and you put the word vegan in front of that and it costs more," co-owner Gina Perez said. "We were excited that we were one of the restaurants chosen."
Perez said she is mostly looking forward to giving bonuses to Plant Slayer's five employees who have been especially dedicated to seeing the business succeed.
Since 2021, PG&E and the PG&E Foundation have contributed
With this year's funding, PG&E has now helped provide grants for a total of 675 restaurants and caterers in Northern and
"We all have fond memories of celebrating special occasions with the people we love at our hometown restaurants — with good meals at the center, they truly are the gathering spots in our communities. Through our partnership with the California Restaurant Foundation, we want to make sure these neighborhood businesses, many of them family-owned and operated, continue to thrive for years to come," said PG&E Corporation Executive Vice President of Corporate Affairs and Chief Sustainability Officer Carla Peterman.
"Since the launch of the Restaurants Care Resilience Fund in 2021, PG&E and the PG&E Foundation have been steadfast and generous supporters, helping hundreds of independent restaurant owners throughout Northern and
CRF began the Resilience Fund in 2021 to support restaurants recovering from economic impacts of the COVID-19 pandemic, which contributed to many restaurants closing their doors temporarily or permanently. PG&E and The PG&E Corporation Foundation have supported the program since its inception.
To date, CRF's Resilience fund has provided financial assistance to more than 1,600 independent restaurants and caterers across
Among this year's grant recipients,
Assisting Restaurants and Small and Medium Businesses
PG&E remains committed to providing ways for its small and medium business customers to save energy and money amid recent economic hardships including the pandemic and recent inflation. Here are some ways PG&E is helping its customers:
- On-Bill Financing: PG&E offers
0% interest loans for replacing old and worn-out equipment with more energy-efficient models. Watch this video to explore how energy savings are reinvested back into your business to help improve your bottom line. - Rebates for food service equipment: PG&E offers several rebate programs that will help you save money and improve productivity when you upgrade your food service equipment.
- Budget Billing: If you are a small business owner, you can have a predictable bill each month by enrolling in Budget Billing. The program averages out your monthly bill to determine your monthly payment, instead of having unpredictable summer bills.
- Energy Efficiency Programs: PG&E contracts with external companies to provide a customized solution for different business sectors.
- Find Your Best Rate Plan: Customers can use this online tool to run a rate analysis to see if they are on the best rate plan for their operations. The tool is projected to save customers over
$9.5 million - Economic Development Rate: This offers eligible business customers the opportunity to lower costs through one of three reduced electric rate options. PG&E developed this rate to help businesses grow or maintain jobs in
California . The standard12% rate discount is available throughout our service territory.
For more information on PG&E Small and Medium Business customer support, visit pge.com/smbsupport. Customers can also find more ways to reduce their energy costs at PG&E's Small Business Podcast "Straight Talk with PG&E," on iHeart, Apple and Spotify.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE: PCG), is a combined natural gas and electric utility serving more than sixteen million people across 70,000 square miles in Northern and
About The PG&E Corporation Foundation
The PG&E Corporation Foundation is an independent 501(c)(3) nonprofit organization, separate from PG&E and sponsored by PG&E Corporation.
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SOURCE Pacific Gas and Electric Company
FAQ
How much funding did The PG&E Foundation provide for restaurant grants in 2024?
How many restaurants will receive grants from the PG&E Foundation's funding in 2024?
What is the amount of each grant provided to restaurants through the PG&E Foundation's funding?
What percentage of grant recipients identify as minority owners?
How much has PG&E and the PG&E Foundation contributed to the CRF's Resilience Fund since 2021?
