Treasurer: Main Street Grant Program Gave $262M to 20,751 Businesses

Msrplogo 600x369BATON ROUGE  –  State Treasurer John M. Schroder announced this week that the Main Street Recovery Grant Program, now closed, issued $262 million in grants to 20,751 small businesses across Louisiana. 

“The pandemic devastated our small businesses, and the Main Street Recovery Grant Program gave them a fighting chance to survive the economic downturn. MSRP kept businesses open, workers employed and the entrepreneurial spirit alive,” said Schroder. “The Louisiana Legislature was wise to create this program. Louisiana Treasury was proud to administer it.”

The program, funded by a portion of the state’s $1.8 billion in federal relief money, provided grants of up to $15,000 to businesses affected by the pandemic.

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Schroder said the program gave four times the number of grants required by law to businesses owned by minorities, veterans or women. To date, 107 applications have been turned over to the Office of the state Inspector General for investigation. Updated Paycheck Protection Program data received in December flagged instances in which people received money but shouldn’t have.

 

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