Royal Caribbean Group has opened applications for its “Pay it Forward” $40 million program for travel advisors. This was announced in a press release.
The program makes a $40 million pool of funds available to qualifying travel advisors, who can apply for three-year, interest-free loans of up to $250,000 to keep their businesses focused on a return to growth at “a time when the pandemic shows increasing prospects for coming under control.”
“As part of the second phase of RCL Cares, we have launched a dedicated platform where qualifying travel agency business owners can apply for financial support from Royal Caribbean. Travel partners can seamlessly submit loan applications on this dedicated site accessible through CruisingPower.com. The site provides additional information and everything advisors need to know, including additional program details and eligibility parameters,” the company wrote.
“COVID-19’s effects on travel partners’ businesses have been debilitating, and we want to do what we can to help them rebuild and recover,” Royal Caribbean Group added.
According to the press release, the company has also teamed up with ACAP + The Loan Source to help facilitate travel advisors’ Paycheck Protection Program (PPP) applications after the program was reopened to make additional federal funding available to small businesses.