How Small Businesses in Louisiana Can Get $ 15,000 through a New Recovery Program | Companies


The Main Street Recovery grant program, which enables small businesses to receive reimbursements of up to $ 15,000 for expenses incurred as a result of the coronavirus pandemic, will kick off Tuesday.

State Treasurer John Schroder said he expected “quite a large turnout” on day one. So far, about 14,000 people have signed up for email notifications through the program and about 9,500 have taken a quiz to see if they are eligible for the funds, he said.

“Mississippi had about 15,000 applicants for its program on its first day, and we’re assuming we’re on the same scale,” he said.

What are Main Street Recovery Grants? Work is underway to inform companies about this

Since Main Street Recovery is a reimbursement program, the most important thing for small business owners is that they have receipts for any expenses they claim. “You have to scan documents and attach them to the application,” says Schroder. “Your application will be held until you provide proof of costs.”

Businesses that have been forced to close or have otherwise been affected by the pandemic are eligible for reimbursement of a number of expenses incurred since March 1, all eligible expenses. The only thing that cannot be claimed is lost revenue.

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The program was set by Republican lawmakers in the recently concluded special session. It allocated $ 275 million to help small businesses that were unable to get help from other aid programs put in place as a result of the coronavirus pandemic, such as the state paycheck protection program, or from their insurance company.

Louisiana small businesses can apply for $ 15,000 starting July 28th. That’s how it’s done

For the first 21 days after launch, the program is only open to companies that have not received any funds from insurers or government programs. The aim is to pay out $ 40 million to women, minority or veteran-owned companies in the first two months of the program.

After 21 days, the program will open to all companies starting the 1st on filing in 2020. Eligible companies and franchisees are as eligible as sole proprietorships, but the company must have a physical location that is open to customers and employees.

Along with the website, the Treasurer’s Office has set up a toll-free number at (888) 795-4947 for business owners with questions. The telephone number is manned Monday through Friday from 8 a.m. to 5 p.m.

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