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‘12 CNMI restaurants got $1.9M’
Twelve CNMI applicants received $1.9 million in federal grants ranging from $37,128 to $348,277 but, according to the National Restaurant Association, there remain 107 restaurants from the islands that did not get help.
Delegate Gregorio Kilili C. Sablan (Ind-MP) said n his e-kilili newsletter over the weekend that businesses impacted by COVID-19 pandemic that applied for but were unable to secure relief funds from the American Rescue Plan would have a second chance under H.R. 3807 that was passed by the U.S. House of Representatives Thursday.
Sablan
Sablan said H.R. 3807, or the Relief for Restaurants and Hard Hit Small Business Act, which he cosponsored, provides $42 billion to replenish the Restaurant Revitalization Fund for applicants that were not previously funded.
The U.S. Small Business Administration, which administers the $28.6-billion Restaurant Revitalization Fund under the American Rescue Plan Act, opened the application period on May 3, 2021. This relief does not have to be repaid, provided that the funds are put toward eligible uses by March 11, 2023.
This time around, funds will be prioritized to assist first those who have suffered the greatest percentage revenue losses. The bill also provides $13 billion for a new Hard Hit Industries Award Program to help firms with 200 or fewer employees that have experienced 40% or more in lost revenue.
H.R. 3807 is now pending consideration in the Senate.
