New Orleans Business Alliance

Louisiana Main Street Recovery Program
$15,000 Small Business Grants Are Available
The Louisiana Main Street Recovery Program will offer grants of up to $15,000 to Louisiana businesses affected by the COVID-19 pandemic. Within the first 21 days of the programs, grants will be prioritized for businesses who did not receive a Payment Protection Program loan (PPP), insurance payment, or an Economic Injury Disaster Loan (EIDL). To be eligible, businesses must have had 50 or fewer full-time employees as of March 1, 2020.

Details on how to apply will be released shortly. The program will be administered by the office of the Louisiana State Treasurer. To learn more about the State Treasurer, visit https://www.treasury.la.gov/.

QUICK FACTS

  • Per Act 311, $300 million Main Street Recovery Program has been allocated from $1.8 billion in direct congressional relief that Louisiana received underneath the CARES Act to respond to COVID-19
  • $40 million of the aid is set aside to assist minority-owned, women-owned, and veteran-owned businesses
  • The grants are aimed at helping businesses that had to stop operating or otherwise incurred costs because of COVID-19
  • Businesses that qualify can apply for grants of up to $15,000 each to cover eligible expenses
  • Payments and rejections must be issued within 20 days of application submission

ELIGIBILITY REQUIREMENTS FOR SMALL BUSINESSES

  • Domiciled in Louisiana as of March 1, 2020
  • Suffered an interruption of business
  • At least 50% owned by one or more Louisiana residents
  • 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

PROGRAM TIMELINE

  • Program start date will be announced by July 1, 2020
  • First 21 days: Grants will be given to businesses who did not receive a Payment Protection Program loan (PPP), insurance payment, or an Economic Injury Disaster Loan (EIDL).
  • First 60 days: $40 million will go to businesses owned by women, minorities and veterans.

All questions about program specifics and the application process should be directed to the Louisiana Treasury office - MSRP@Treasury.la.gov.

If you need assistance with submitting an application to the Main Street Recovery Program, please contact NOLABA's Small Business Team at SBED@nolaba.org.

1250 Poydras St., Suite 2150
New Orleans, LA 70113
info@nolaba.org | 504.934.4500