MAYOR CANTRELL URGES NEW ORLEANS BUSINESSES TO PREPARE FOR MAIN STREET RECOVERY GRANT PROGRAM APPLICATION PERIOD
NEW ORLEANS — Mayor LaToya Cantrell is urging eligible businesses in the city of New Orleans to prepare for the State of Louisiana-administered Main Street Recovery Program application period, which will begin July 28, 2020.
The Louisiana Legislature has designated $300 million from the Federal CARES Act for a small business grant program, through which grants of up to $15,000 may be awarded to cover COVID-19 related expenses.
In the first 21 days of the program, grants will be given to businesses that didn't receive a Paycheck Protection Program (PPP) 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 application period will begin July 28, 2020.
Eligibility Requirements:
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Domiciled in Louisiana as of March 1, 2020
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Suffered an interruption of business
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At least 50 percent owned by one or more Louisiana residents
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Filed Louisiana taxes in 2018 or 2019 or will file taxes in 2020
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Had no more than 50 full-time employees as of March 1, 2020
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Have customers or employees visit a physical location
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Are not part of a bigger business with more than 50 full-time workers
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Does not exist for the purpose of advancing partisan political activity and does not directly lobby federal or state officials
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Does not derive income from passive investments without active participation in business operations
For more information and to sign up for email alerts visit: https://www.louisianamainstreet.com/
FAQs
Question: What information must be provided?
Answer: Tax and business documentation:
- Federal taxpayer identification number
- State taxpayer identification number
- Business legal name and authorized representative name, address, phone number and email address
- Date of formation/creation
- Business address, phone number and email address
- Industry category and business type
Question: What is an eligible expense?
Answer: Costs related to meeting public health requirements tied to COVID-19, including, but not limited to:
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Creating social distancing
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Cleaning and disinfecting
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Purchasing equipment to protect employees and/or customers (hand sanitizer, masks, gloves, thermometers, etc.)
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Contactless equipment (credit card readers, etc.)
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Expenses to facilitate teleworking (laptops, printers, scanners)
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Necessary reopening expenses (tents, outdoor tables)
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Signage pertaining to reopening or restructuring
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Installation of drive-through windows
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Business interruption costs related to COVID-19, including, but not limited to:
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Unemployment insurance costs
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Providing paid sick leave
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Inventory replacement (replacing spoiled food)
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Increased labor costs (hiring delivery drivers)
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Mortgage interest
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Rent
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Payroll
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Utilities
Question: What is an ineligible expense?
Answer:
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Lost profits or lost revenue
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Damages that have been or will be covered by insurance
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Costs that have been or will be reduced by any other federal or state program
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Severance pay
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Legal settlements
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