Previous Story
A dozen restaurants applied, received federal financial aid
Kilili says Northern Marianas also allocated $14.27M from Coronavirus Capital Projects Fund
|
Posted on Sep 08 2021
Gregorio Kilili C. Sablan
Delegate Gregorio Kilili C. Sablan (Ind-MP) disclosed over the weekend that a dozen restaurants in the Marianas that were badly hit by the COVID-19 pandemic applied for and received financial aid from the Restaurant Revitalization Fund, which was created by the American Rescue Plan Act.
In his e-kilili newsletter, Sablan said 12 restaurants availed of the financial aid, based on the latest data from the U.S. Small Business Administration.
He said the grants in the Marianas ranged from $37,128 to $348,277.
The Restaurant Revitalization Fund provides a total of $28.6 billion in direct relief funds to restaurants and other hard-hit food establishments that have experienced economic distress and significant operational losses due to the pandemic.
“The money does not have to be repaid as long as it is used to cover payroll, rent, utilities, and other eligible uses,” Sablan said.
The U.S. Small Business Administration began registrations on April 30, 2021.
Meanwhile, Sablan said the U.S. Department of the Treasury announced last Wednesday that the Northern Marianas has been allocated $14,275,714 from the Coronavirus Capital Projects Fund.
He said ARPA of 2021 provided $100 million equally divided among the CNMI, Guam, American Samoa, the U.S. Virgin Islands, and the three Freely Associated States (Federated States of Micronesia, Palau, and Marshall Islands).
Sablan said the money can be used for investments in high-quality broadband and other connectivity infrastructure.
He said funds may also invested in critical community hubs or capital assets that provide access jointly to work, education, and health monitoring.
