The Louisiana Main Street Recovery Program will begin on July 28, 2020, providing award grants to assist Louisiana small businesses in their recovery from the economic impacts of COVID-19. The program is administered through the Louisiana Department of Treasury. The funds for the Program were part of the CARES Act funding the State of Louisiana received, with $275 million available in the program.
Applications for the Program will open on July 28, 2020. Eligible businesses can receive up to a $15,000 grant to assist with eligible expenses, including costs incurred to meet public health requirements (including signage, cleaning, additional equipment) and business interruption costs (including mortgage, rent, leases, payroll, utilities, supplies, or insurance).
The funds are limited to Louisiana domiciled small businesses with less than 50 employees. Businesses who obtained Paycheck Protection Program or U.S. Small Business Administration Economic Injury Disaster Loan Emergency Loans will not be considered for a grant until 21 days after the program opens.
Applications for priority applications will be from July 28, 2020 to August 17, 2020. Priority will be given to businesses who did not receive a Paycheck Protection Program loan, insurance payment or an Economic Injury Disaster Loan or Advance as well as businesses owned by women, minorities and veterans. Applications for businesses not given priority will be considered after August 17, with the program accepting applications until November 4, 2020.
The program application is available at www.louisianamainstreet.com.