Another $2B Grant Program is Launching. Here's Who is Eligible.
Biz Journals
Andy Medici
June 23, 2021
The Treasury Department has officially opened up its $2 billion Coronavirus Economic Relief for Transportation Services (CERTS) grant program to bus, motorcoach, school bus and passenger companies hit hard by the Covid-19 pandemic.
The grant program, signed into law in late 2020, provides grants to businesses that saw a loss of revenue of 25% or more from the pandemic. The grant itself can be used for operating expenses and for any debt created to help maintain payroll for employees, as well as any costs for personal protective equipment and other pandemic protection measures. Businesses do not request specific grant amounts under the program, according to the Treasury Department, which will use its own formula to calculate how much each applicant gets.
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"$2 billion is nowhere close to being enough," said Peter Pantuso, president and CEO of the American Bus Association, adding that the original version of the legislation that authorized the grant program called for $10 billion and had widespread support in Congress. "That $10 billion was barely enough to provide a bridge to the motorcoach industry alone. Despite its overwhelming support, the $10 billion was reduced to $2 billion in the December stimulus package."
Pantuso said about 25% of the industry had shuttered with more companies closing daily.
"We are continuing to work with key members of Congress to restore the CERTS funding to the full $10 billion by adding another $8 billion to the program," Pantuso said.