Here’s What You Need to Apply for a Main Street Recovery Grant

Young Waiter With Face Mask Working In Coffee Shop

NEW ORLEANS — Louisiana’s Main Street Recovery Program application period is officially open.

Listen to our podcast featuring Louisiana State Treasurer John Schroder talking about the creation of the program.

The new program, which uses $275 million of the state’s $1.8 billion federal CARES act allotment, will offer grants of up to $15,000 to reimburse businesses for pandemic-related expenses. For 21 days, grants will be given to businesses that didn’t receive relief in the form of a Paycheck Protection Program loan, an Economic Injury Disaster loan or an insurance payment. Administrators say that, in the program’s first 60 days, $40 million will go to businesses owned by women, minorities and veterans.

Click here to check eligibility.

 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/

 Applicants must provide:

  • 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

Eligible expenses are 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

Ineligible expenses are:

  • 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
Categories: Alerts, COVID-19, Today’s Business News