Chase is funding $4 million in disaster relief for restaurants

Independent restaurants across the U.S. will soon be able to apply for disaster relief funding from Chase bank as part of a new $4 million grant program.

The initiative, launched with advocacy group the Independent Restaurant Coalition (IRC), is designed to help small hospitality firms hit by earthquakes, wildfires, and tornadoes get back on their feet.

The July 30 launch came on the day that waves reached Hawaii and parts of the U.S. west coast after a 8.8 magnitude earthquake off the coast of Russia sparked tsunami warnings across the Pacific.

In a sector that has already been squeezed by inflation in recent years, 40% of small businesses hit by natural disasters never reopen and a quarter close within a year, according to estimates from the Federal Emergency Management Agency (FEMA).

FEMA itself faces an uncertain future after Donald Trump said in June that he would start “phasing out” the organization after the 2025 hurricane season, with plans to distribute relief funding directly from the president’s office.

Chase, the consumer and commercial banking arm of JPMorgan, said the funds will be split between two areas. One will be a $3 million aid program to help cover things like property damage, temporary operating costs and lost stock. Applications will open on September 3.

The other is a $1 million awards initiative that will hand $25,000 to 40 restaurants and bars showing positive community impact through things like sustainability initiatives, using local products, and workforce wellbeing programs. Applications close on August 27.

Chris Stang, head of lifestyle and dining at Chase, said the program is “an investment in the future of this industry."

The IRC pointed to recent climate-driven disruptions, including the California wildfires in January and record-breaking amounts of tornadoes in Iowa in 2024, as further evidence of the urgent need for more aid. 

Bobby Stuckey, IRC co-founder and partner at Frasca Hospitality Group, said the Chase funding means the group “can finally do something to help businesses who have sacrificed so much for their neighbors." 

“Independent restaurants support first responders, feed the hungry, and support other businesses in the communities they serve,” he said.