Due to the ongoing effects of the COVID – 19 pandemic, the commercial fishing industry is now able to apply for funds from the CARES Act. $300 million was made available for coastal states, of which Texas has been awarded nearly $9 million.
Those eligible for the funds include for-hire guides, commercial fisherman and wholesale dealers. Both resident and non-resident commercial license types may be eligible for the money as long as they can prove their losses were more than 35%.
In determining the loss percentage, the impact period will cover all of 2020. The average will then be compared to the last five year’s average to determine if the greater than 35% loss threshold is met. Other criteria specific to each commercial fishing sector must also be met.
Applicants are urged to fill out the application online (CLICK HERE) for faster processing. The application deadline is March 18.
