On June 12, 2020, Governor John Bel Edwards signed Senate Bill 189, Act 311 enacting several COVID-19 relief funds including the Louisiana Main Street Recovery Fund that awards grants to many Louisiana small businesses to assist in their recovery for the economic impacts of COVID-19. The program will be administered by the Louisiana Department of Treasury, John M. Schroder, State Treasurer.
The below list includes documents that you may start compiling in anticipation of the application opening date.
- Federal Taxpayer Identification Number
- State Taxpayer Identification Number
- Louisiana Department of Revenue account number
- Business date of formation/creation
- Documentation to support eligible expenses (invoices, proof of payment, payroll records, vendor contracts, bank/credit card statements, rental agreements or mortgage statements, utility bills, etc.)
- Number of full-time equivalent employees (as of March 1, 2020)
- Information for all “Controlling Owners” of the business (defined as individuals or entities who exercise the power to make policy decisions). Information includes Name, Job Title, SSN or EIN, Residential Address, and Driver’s license Number.
- Information regarding other sources of COVID-19 funding received from United Stated SBA programs (PPP, EIDL, EIDL Emergency Advance), other federal program, or insurance proceeds
- Copies of filed tax returns for 2018 and 2019
Businesses must meet the following eligibility requirements to receive grant awards:
- Were domiciled in Louisiana as of March 1, 2020
- Suffered an interruption of business
- At least 50% owned by one or more Louisiana residents
- Filed Louisiana taxes in 2018 or 2019 or will file taxes in 2020
- 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
Priority application will be given to those who have not received federal assistance.
The Legislature has also mandated the Treasurer to award at least $40 million in grants to businesses owned by women, minorities and veterans within the first 60 days of the program.
Key Program Dates
The first day that Louisiana Main Street Recovery Program grant applications will be accepted.
The last day for priority given to applications that received no Federal Assistance (deadline 11:59 PM CST).
The target date for the Louisiana Main Street Recovery Program to have awarded $40 MM to minority, women, or veteran-owned applicants (deadline 11:59 PM CST).
Louisiana Main Street Recovery Program Application Deadline (deadline 11:59 PM CST).
Additional questions on program dates can be sent via email to firstname.lastname@example.org.
Call centers have also been set up to be an informative resource and to answer questions related to the Louisiana Main Street Recovery Program. Call centers will operate starting July 10, 2020. Extended call center hours will begin on July 28, 2020 when the online portal is launched, and applications can be submitted.
Call Center: 1-888-795-4947