Louisiana Grant Program for Small Businesses
A $300 million grant program for small businesses in Louisiana will be rolled out soon, after being signed into law by the Governor. The Louisiana Main Street Recovery Program was passed by the Legislature and will provide grants of up to $15,000. Eligibility requirements for businesses include:
It had fewer than 50 employees on March 1, 2020
It was domiciled in Louisiana as of March 1, 2020
It suffered an interruption of business caused by forced or voluntary closures, or restricted operations due to social distancing measures, decreased customer demand, cleaning or disinfection expenses, and providing personal protective equipment
Businesses that received a Paycheck Protection Program loan are not initially eligible. The program is funded by federal CARES Act dollars and will be administered by the state treasurer who will present a plan this week for distribution of the funds. The Louisiana Main Street Recovery Program is a state grant program different from the federal Main Street program.