Louisiana main street recovery grant program taking applications

Louisiana main street recovery grant program taking applications
Published: Jul. 29, 2020 at 10:33 PM CDT
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LAKE CHARLES, La. (KPLC) - If you own a small business and have not received any COVID-19 relief money from the federal government or insurance, now may be your chance.

The Main Street Recovery grant program, administered through our state department of treasury, is now accepting applications for businesses who have been hurt financially by the pandemic.

Applications are open to all businesses, but as Louisiana treasurer, John Schroder says, the $275 million will first be prioritized to a certain group.

“Businesses who need it the most,” Schroder said. “Those that have received no aid would be eligible for the first 21 days, and then on day 22 the pot will be open to everybody.”

But, you don’t have to wait to apply, Schroder says all small businesses can submit their application now. Of course, there are some qualifications you must meet to be eligible.

”Some of the basic things you need,” he said. “You have to be a business in Louisiana, you’ve had to have filed your taxes in either 2018, 2019 or filing them in 2020. You have to have a business that’s less than 50 people, and you can be a sole proprietor. You also have to have a physical location where your customers either come to or your employees come to.”

Schroder says there is also an online quiz for business owners to make sure they will qualify for the funds.

Another $40 million has been set aside for businesses owned by minority women and veterans, which will be held for the first 60 days of the program.

Schroder says this funding can make a big difference for small business owners.

“Look, it’s not a lot of money and I tell people this, it’s just a band aid but some aid is better than no aid,” he said. “Some of this money could be difference between somebody closing their doors permanently or hanging on for a few months to see if we can get through the summer months and this virus sort of settles down.”

The deadline to apply for the Main Street Recovery grant program is November 4.

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