Congressman San Nicolas: Relief for food, beverage establishments to be included in ongoing negotiations

Guam Congressman Michael San Nicolas (PNC file photo)

Guam Congressman Michael San Nicolas issued a release Monday morning, saying a second round of stimulus, unemployment support, a second round of PPP, and funding for local governments are finding common ground between the House and the White House.

In addition, San Nicolas says the Financial Services component of the relief package is shaping up to include specific help for local food and beverage establishments.

In his release, the Guam Delegate said, “the House is seeking to add a grant program available to all food and beverage establishments that are not publicly traded or franchise operated, as those have access to other funding avenues.”

“Proposals include funding 100% of the difference between 2020 revenue and 2019 revenue as a grant up to the end of the year, and amortizing any unexpended funding as a 10-year loan with a 1% interest rate.”

He added: “I know that times are extraordinarily tough right now, but I once again urge our local people to hang in there as best they can, as we continue to press for more relief.”

(News Release from Congressman Michael San Nicolas)