American Press

As of last week, nearly 9,000 businesses have submitted their application to the Louisiana Main Street Recovery Grant Program, an initiative offered by the state’s Department of Treasury to help small businesses affected by the coronavirus pandemic.

The funding comes from the more than $1.8 billion in funds Louisiana received from the national CARES Act. About $275 million of those funds have been allocated to Louisiana’s small businesses through the Main Street Recovery Program for economic support.

Through the program, businesses can apply for up to $15,000 to cover eligible expenses. In the first 21 days of the program — which began taking applications July 28 — grants will be given to businesses that didn’t receive a Paycheck Protection Program 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, the treasury said.

If a business has already received assistance from other government programs, that business can still be eligible for this grant program. Assistance previously received from other sources will be subtracted from the claimed amount on the grant.

“Main Street is a life line for small businesses who are going under because of the pandemic,” Treasurer John Schroder said in a news release. “As a business owner, you put your blood, sweat and tears into your business. You shouldn’t see your life investment collapse overnight.”

Schroder said the program will “deliver grants to businesses who need them the most.”

Eligible businesses are those that were domiciled in Louisiana as of March 1; suffered an interruption of business; are at least 50 percent owned by a Louisiana resident; have no more than 50 full-time employees; have customers or employees who visit a physical location; and those that filed Louisiana taxes in 2018, 2019 or will file in 2020.

Those businesses deemed eligible will receive a check in the mail. Grant funds will not have to be repaid unless it is determined that the information contained within the application was false, fraudulent or materially misleading.

There is also a “QuickRelief” option that allows eligible applicants to receive grants up to $5,000 on an expedited basis.

Applications can be submitted online at www.louisianamainstreet.com. A business can also determine eligibility by visiting www.louisianamainstreet.com/business-eligibility-quiz/.

If your business is eligible, consider applying.