Mayor LaToya Cantrell is urging eligible businesses in New Orleans to prepare for the state of Louisiana-administered Main Street Recovery Program application period, which will begin no later than July 28. And grants will be awarded on a first-come, first-served basis.
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.
Eligibility Requirements:
- Domiciled in Louisiana as of March 1, 2020
- Suffered an interruption of business
- At least 50% 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.treasury.la.gov/main-street
