John Schroder
All qualifying small businesses can now receive grant money from the Main Street Recovery Program. State Treasurer John Schroder says there has been some confusion about the grant program which can provide up to $15,000 in reimbursement.
“A lot of people believe two things, one they are not eligible because they received federal aid, or two they had wait 21 days, neither are true,” says Schroder.
The Legislature set aside $275 million from the CARES Act for the Louisiana Main Street Recovery Program and small businesses that had not received previous funding were prioritized. That restriction was lifted this week.
Schroder says small businesses can apply for a Quick Relief grant of up to $5,000 or an Itemized Cost Reimbursement grant of up to $15,000.
“You have to show your expenses, you have to be able to provide invoices and you can be granted up to $15,000. In grant, meaning that it’s your money and you don’t have to pay any of it back,” says Schroder.
Schroder says while the grants are being distributed on a first come first serve basis, he expects to receive enough applications by the end of the week that would distribute approximately half of the $275 million.
“You have plenty of time to get your documents together, you don’t have to rush and panic and do something wrong. If you have any questions call our hotline,” says Schroder.
For more information go to www.louisianamainstreet.com
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