Royal Caribbean Group has partnered with the Pan American Development Foundation (PADF), a regional non-profit organization, to manage a grant-making initiative for local businesses affected by COVID-19.
Who can apply?
This program is by invitation-only. The invitation, however, does not guarantee a grant. Unsolicited applications will not be considered. To participate, you will have to provide the name of your contact person at Royal Caribbean Group.
Who is most likely to receive a grant?
PADF will prioritize small, local businesses critical to the cruise experience, that have shared a sound plan outlining how funds will be used to maintain their business afloat, and have strong possibilities to continue operating when cruising resumes.
Evaluation criteria include principally:
Can I apply multiple times?
No. You can only submit ONE form per business to this grant.
I have received a loan or support from another source. Can I still participate?
Yes. You are encouraged to participate even if you have received support from another funding or support (tax breaks).
Are there any documentations required to participate?
You need to fill a form to participate. If you are selected, PADF will reach you and ask you to provide supporting documentation (at a minimum, the business’ last 3 bank statements will be required. Other business documents may be required as well). Within the next two months after you receive the grant, you will be asked to provide a report with a testimonial and 3-5 pictures of the impact this program had in your business.
What is the amount of the grant?
The grants range between $3,000 to $75,000 USD. Size of the business, revenue, strategic value and impact will be considered for the amount assigned.
Do you require a repayment for this fund?
No. These are grants, not loans, so they do not require repayment.
Are there restrictions for the use of these funds?
Funds can be used to pay loans, invest in operating costs (such as rent, equipment, insurance), retain employees (payroll), or any other activity relevant to keep the business afloat.
What is the deadline for applications?
We encourage you to submit your application as soon as possible, as applications will be reviewed and decided on a rolling basis until funds are exhausted. The final deadline for applications, if designated funds are still available, will be July 30, 2021.