The COVID-19 Hospitality Industry Recovery Program (CHIRP) is making $7.2 million in aid available to the hospitality industry, reports Kennedy Rose for the Philadelphia Business Journal.
The block grants are part of a statewide allotment of $145 million to help hotels, restaurants and bars bounce back from the economic setbacks brought on by the COVID-19 outbreak. Bucks County’s portion is based on its population size.
Each county’s eligibility requirements will vary, but in general, the funds are available to small businesses that have:
- A location within Bucks County
- A record of operation since February 2020, with intentions to continue operating for a year
- Fewer than 300 employees
- A maximum tangible net worth of $15 million or less as of February 15, 2020
- Documented proof that they saw a 25% reduction in gross receipts between 2019 and 2020 due to COVID-19
Bucks County’s application process runs March 15 to April 2.
Read the Philadelphia Business Journal coverage, here, for more information on these funds.