Ten million dollars in American Rescue Plan Act funding has been set aside for non-profit organizations, while $20 million in ARPA money has been allocated to assist small businesses, according to Finance Secretary David DLG Atalig last week.<\/p>\n
Speaking at a press briefing, Atalig said they will be awarding these ARPA money in the next couple of weeks. <\/p>\n
He said that under Section 602A in ARPA funding, they have set aside about $10 million for non-profit organizations so these organizations shall submit their request for financial assistance to the governor\u2019s office. Atalig said he asked non-profit organizations to give him copy of their request so that he is aware which groups are seeking ARPA financial assistance.<\/p>\n
Atalig said most of those non-profit organizations have requested in some form or another for help on meeting their payroll, as well as helping their volunteers or employees continue to work so that they can continue with their programs and services. \u201cAnd we support that,\u201d he said, adding that they have already received about 10 to 12 non-profit applications. <\/p>\n
Atalig said they\u2019re just about to award non-profit organizations with assistance in the next couple of weeks. <\/p>\n
For private contractors that have been loading equipment or other items related to the fight against the pandemic at the seaports or airports, Atalig said they have allocations in ARPA as well\u2014both what is given to the territory and what is in the overall ARPA law.<\/p>\n
Atalig said these contractors from private businesses have opportunities to apply for very low, if not almost zero, interest rates for financial assistance using ARPA funds. He said they have allocated about $20 million to help small businesses that want to apply.<\/p>\n
\u201cOf course, they have salary, premium pay requests that will be the avenue for them to seek,\u201d the secretary said.<\/p>\n
Atalig said they will be rolling out a program in the next couple of weeks as well, helping small businesses boost their businesses with some financial aid from ARPA.<\/p>\n
He said the Commonwealth Economic Development Authority, formerly the Commonwealth Development Authority, also has funds available to assist small businesses. <\/p>\n
The secretary said the Marianas Public Land Trust is also helping out small businesses.<\/p>\n
\u201cIf it\u2019s giving their people premium pay or helping them comply with any business and regulatory requirements, whether it\u2019s having plexiglass or helping them with social distances requirements, there\u2018s funding to help them,\u201d he said.<\/p>\n
As to the question if there is funding that would go to the workers and not just to the company owners\u2019 pocket, Atalig said companies have to submit their spending plan\u2014their application and justify their requested amount, and what they\u2019re going to do with it. He said companies are going to be held accountable for what they have requested. Atalig said if the companies requested for premium pay, they are requirements for them to comply. In essence this is a subrecipient grant and businesses are going to have some requirements that they\u2019ll need to comply with, or else they\u2019ll be required to return those funds. <\/p>\n
\u201cThat needs to be related to COVID and what are they doing to mitigate and provide their services to help the community through these trying times,\u201d he added. <\/p>\n","protected":false},"excerpt":{"rendered":"
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