Grubhub CEO letter to President Trump in support of independent restaurants

Summary

This is a letter from Matt Maloney, Founder and CEO of Grubhub, addressed to Donald J. Trump, President, Nancy Pelosi, Speaker of the House of Representatives, and Mitch McConnell, Majority Leader, on restaurants during the COVID-19 crisis. The letter describes an aid package Grubhub launched for independent restaurants and the Grubhub Community Relief Fund. It calls on the recipients to support the $325 billion aid package proposed by the National Restaurant Association, including a $145 billion Restaurant and Foodservice Industry Recovery Fund created by the Department of Treasury, $100 billion in Federally-Backed Business Interruption Insurance and $45 billion in expanded access to loans.

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Press Release Details

The Honorable Donald J. Trump President The White House 1600 Pennsylvania Ave, NW Washington, DC 20500

The Honorable Nancy Pelosi Speaker of the House of Representatives United States Capitol Washington, DC 20515

The Honorable Mitch McConnell Majority Leader United States Senate Washington, DC 20510

Dear Mr. President, Speaker Pelosi, and Majority Leader McConnell:

Grubhub is the leading online and mobile food-ordering and delivery marketplace with the largest network of restaurant partners in the United States, as well as more than 22 million active diners. With over 100,000 SMB restaurant partnerships across the country, we are proud of our ability to help drive local revenue by connecting diners with the food they love from their favorite local restaurants.

During this unprecedented time in our country, restaurants are on the front lines of the struggle to continue to feed Americans. Since the crisis began, Grubhub has been working with state and local officials around the country to support our local independent restaurant community and lend support for efforts to keep the doors open to our restaurants for delivery and take-out. And while we applaud our government leaders and their efforts to minimize the COVID-19 impact and keep the American people safe, we know that without these release valves of delivery and pickup, many of our nation's independent restaurants will not survive.

To provide our independent restaurants some relief, Grubhub has launched an aid package which includes deferred payments for our independent restaurants providing much needed cash flow relief until this crisis is over. We have also established the Grubhub Community Relief Fund which will pay cash grants to organizations supporting independent restaurants and food delivery drivers.

However, we know that the needs of the restaurant industry during this unprecedented time are beyond our control. The National Restaurant Association anticipates sales to decline by $225 billion during the next three months alone, which could prompt the loss of between five and seven million jobs. I am calling on you to support the $325 billion aid package proposed by the NRA which would establish a much needed industry recovery fund, provide for business interruption insurance, as well as much needed loan and tax relief. Specifically, the proposal would authorize the following:

- The Department of Treasury to create a $145 billion Restaurant and Foodservice Industry Recovery Fund.
- $35 billion for Community Development Block Grants for Disaster Relief (CDBGDR) assistance.
- $100 billion in Federally-Backed Business Interruption Insurance
- $45 billion in expanded access to effective, efficient and affordable federal and conventional loans.
- $130 million in Disaster Unemployment Assistance (DUA)

If enacted, these measures would ensure that restaurants have the necessary liquidity and access to critical financing to help them survive the dramatic loss in profits caused by COVID-19.

Restaurants are the heart and soul of our communities and we must do everything we can to get them through this time of incredible uncertainty.

Thank you for your leadership.

Sincerely,

Matt Maloney

Founder and CEO

cc: Honorable Steven Mnuchin, Secretary of the Treasury Honorable Chuck Schumer, Senate Democratic Leader Honorable Kevin McCarthy, House Republican Leader Honorable Mark Warner, U.S. Senate

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