Royal Caribbean Group’s “Pay it Forward” interest-free commercial loan program has officially launched in Canada, with a total of US$40 million available to Canadian travel advisors.
“Understanding that the events of 2020 were debilitating and, in some cases, paralyzing to so many businesses, the Pay It Forward Program is designed to help our travel partner’s rebuilding and recovery process,” RCG said in an email to travel advisors.
A dedicated Pay It Forward site has been created on CruisingPower.com to house the program details, outline eligibility parameters, and allow advisors to submit loan applications for approval.
To qualify, advisors must be authorized to apply for a loan on behalf of their agency, and must have earned at least US$4,000 in commissions with Royal Caribbean Group for bookings that sailed between JUL– DEC 2019. These minimums and eligibility requirements may vary by province and territory.
Due to local provincial requirements, the Pay It Forward Program is not eligible for travel agencies located in Saskatchewan.
Allan Brooks, Director of Market Sales in Canada for Celebrity Cruises, told Open Jaw last month the program is intended as “an additional tool to help those who are in need,” adding, “We will continue to stand strong beside our partners across Canada.”