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.
Businesses must also have 500 or fewer employees in order to be eligible, and cannot have received other assistance, such as the Paycheck Protection Program, that, when combined, exceeds their revenue for 2019. Businesses that are in Chapter 11 bankruptcy are eligible, as long as the case was filed after March 1, 2020, although the Treasury Department might impose additional terms on the grant.
Applications for the grant program are due July 19, 2021, and interested businesses can apply here.
