The Louisiana Main Street Recovery Program, administered by the State Treasurer, will be open for applications on a date TBA in July. Funding for the program was provided by the CARES Act, passed by Congress and signed into law on March 27. Act 311 of the 2020 Regular Legislative Session directed $300 million of the CARES Act funds received by the state to the Louisiana Main Street Recovery Fund. The program provides economic support to Louisiana businesses for eligible COVID-19 expenses and business interruption costs related to the pandemic.
The program start date will be announced by July 1, 2020.
- In the first 21 days, grant will be awarded to businesses who did not receive or Paycheck Protection Program, insurance payment, or Economic Injury Disaster Loan.
- The first 60 days will be given to businesses owned by women, minorities and veterans.
- Within 20 days of receiving an application the Main Street Recovery Program must issue payment or a rejection.
Start putting your paperwork together, money will only be awarded for as long as it is available.
What is Considered an Eligible Expense?
Costs related to meeting public health requirements tied to COVID-19, including but not limited to:
- Creating social distancing
- Cleaning and disinfecting
- Purchasing equipment to protect employees and/or customers (hand sanitzier, masks, gloves, thermometers)
- Contactless equipment (credit card readers, etc.)
- Expense to facilitate teleworking (laptops, printers, scanners)
- Necessary re-opening expenditures (tents, outdoor tables)
- Signage pertaining to reopening or restructuring
- Installation of drive-through windows
- Business interruption costs related to COVID-19, including but not limited to:
- Unemployment insurance costs
- Providing Paid Sick Leave
- Inventory replacement (replacing spoiled food)
- Increased labor costs (for home office)
What is an Ineligible Expense?
- Lost profits or lost revenue
- Damages that have been or will be covered by insurance
- Costs that have been or will be reduced by any other federal or state program
- Severance pay
- Legal settlements
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