The U.S. Department of the Treasury recently sent the final Coronavirus Economic Relief for Transportation Services (CERTS) program payments to motorcoach, school bus, passenger vessel and pilotage companies.
CERTS appropriated $2 billion for grants to transportation service providers that experienced a revenue loss of 25 percent or more, on an annual basis, as a direct or indirect result of the COVID-19 pandemic.
Grants can be used to cover payroll costs, the purchase of services and equipment, interest on regular debt service, insurance, rent, leases, and the continued operations and maintenance of existing equipment and facilities.
“Transportation providers were among the hardest hit during the pandemic, with fewer people relying on their services to travel to work, school or to visit with friends and family,” Chief Recovery Officer Jacob Leibenluft said. “Treasury worked expeditiously to deliver funds to these providers, the vast majority of which are small businesses and many of which are minority-owned, so that they can continue to serve their communities and pay and hire back employees who may have been laid off.”
Grants were approved for 1,461 companies with the average grant award totaling $1.4 million. Of these companies, 93 percent are small businesses, 33.4 percent are minority owned, 22.8 percent are women owned, and 6.9 percent are veteran owned.