Businesses with fewer than 50 employees can now apply for grant money through the Main Street Recovery Program. Eligible businesses can receive up to $15,000 dollars in no-strings-attached cash. State Treasurer John Schroder says there are only 275-million dollars available.
“275 million dollars is not a lot of money when you think about that we have over 457,000 small businesses in Louisiana,” said Schroder.
Applications can be completed at louisianamainstreet.com
Schroder says this is different from the PPP Loans handed out by the feds earlier in the pandemic.
“You can claim up to 15,000 dollars’ worth of expenses and it is going to come to you by way of a grant with no strings attached, you will not have to pay that back,” said Schroder.
Businesses must have a brick and mortar location, and only businesses that did not receive federal assistance will be given money during the first 21 days.
Schroder says while the program isn’t coming directly from the federal government, the cash is.
“This money is part of the CARES Act money that was sent to the state as part of a block grant of 1.8 billion dollars, so the Legislature and the Governor pulled 275 million,” said Schroder.
The program was controversial when first proposed in the Legislature. Opponents noted it took money away from funds designated to help local governments.
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