Main Street Recovery Program (7.16.2020)

The Louisiana Legislature has designated $300 million from the Federal CARES Act for a small business grant program, through which grants of up to $15,000 may be awarded to cover COVID-19 related expenses.

In the first 21 days of the program, grants will be given to businesses that didn’t receive a Paycheck Protection Program (PPP) loan, insurance payment or an Economic Injury Disaster loan. In the first 60 days, $40 million will go to businesses owned by women, minorities and veterans. The application period will begin July 28, 2020. 

Eligibility Requirements:

• Domiciled in Louisiana as of March 1, 2020
• Suffered an interruption of business
• At least 50 percent owned by one or more Louisiana residents
• Filed Louisiana taxes in 2018 or 2019 or will file taxes in 2020
• Had no more than 50 full-time employees as of March 1, 2020
• Have customers or employees visit a physical location
• Are not part of a bigger business with more than 50 full-time workers
• Does not exist for the purpose of advancing partisan political activity and does not directly lobby federal or state officials
• Does not derive income from passive investments without active participation in business operations

For more information and to sign up for email alerts visit: https://www.louisianamainstreet.com/

FAQs

Question: What information must be provided?
Answer: Tax and business documentation:

• Federal taxpayer identification number
• State taxpayer identification number
• Business legal name and authorized representative name, address, phone number and email address
• Date of formation/creation
• Business address, phone number and email address
• Industry category and business type

Question: What is an eligible expense?
Answer: Costs related to meeting public health requirements tied to COVID-19, including, but not limited to:

• Creating social distancing
• Cleaning and disinfecting
• Purchasing equipment to protect employees and/or customers (hand sanitizer, masks, gloves, thermometers, etc.)
• Contactless equipment (credit card readers, etc.)
• Expenses to facilitate teleworking (laptops, printers, scanners)
• Necessary reopening expenses (tents, outdoor tables)
• Signage pertaining to reopening or restructuring
• Installation of drive-through windows
• Business interruption costs related to COVID-19, including, but not limited to:
• Unemployment insurance costs
• Providing paid sick leave
• Inventory replacement (replacing spoiled food)
• Increased labor costs (hiring delivery drivers)
• Mortgage interest
• Rent
• Payroll
• Utilities

Question: What is an ineligible expense?
Answer: 

• Lost profits or lost revenue
• Damages that have been or will be covered by insurance
• Costs that have been or will be reduced by any other federal or state program
• Severance pay
• Legal settlements