Businesses Should Prepare to Apply for State Main Street Recovery Program

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

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