To support its Dream Vacations/CruiseOne franchise owners through the pandemic, World Travel Holdings is funding up to $1 million in commercial loan as the first part of a three-pronged "We're There to Help" stimulus plan.
To be eligible for the loans, franchise owners are required to submit a business plan detailing how the funds will be used.
The second part of the stimulus plan will help franchise owners obtain Payment Protection Program loans through a partnership with World Travel Holdings' banking institution.
The third part of the plan is a Cares Page, which will serve as a consolidated resource center for all information relating to financial assistance on the Dream Vacations/CruiseOne Business Center Intranet.
"We are seeing the biggest pent-up demand for travel in history and extremely strong bookings for the end of 2021 and into 2022, and after more than a year of minimal travel and sales, we want to help ensure our franchisees can sustain their business for when this travel boom arrives," said Brad Tolkin, co-CEO/chairman of World Travel Holdings.
"In spite of World Travel Holdings not qualifying for PPP funds due to our size, it was very important to us to find a way to provide additional assistance for the small business owners within our franchise system. We know the future of leisure travel is bright and we want to do our part and assist our travel agency franchise owners to be ready to meet this demand."
Added Drew Daly, senior vice president and general manager of Dream Vacations/CruiseOne, "As a franchisor, we take pride in providing our franchise owners the resources they need to succeed."
"However, in times like these, it is crucial to go beyond providing a 'business-in-a-box.' The success of our franchisees is our only business and this stimulus plan supports the foundation of our business model - to support small business owners."
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