What is the Funding Structure of the Royal Caribbean Programme?
Existing small businesses can apply for up to $15,000 in combined grants and loans based on their size and annual sales. The funding structure is 50% grant and 50% loan to be paid over a term of 5 years. The budget for this programme is $500,000 and applications will be approved on a first-come, first-served basis.
FUNDING THRESHOLDS
Group A
Earning Annual Sales of less than $250,000 can apply for a combined loan & grant funding up to $5,000
Group B
Earning Annual Sales between $250,001 and $500,000 can apply for combined loan & grant funding up to $10,000
Group C
Earning Annual Sales between $500,001 and $1,000,000 can apply for combined loan & grant funding up to $15,000