District 32 State Sen. Glen Womack of Harrisonburg said this week that $275 million in federal funding was secured during the regular session to support local businesses.
He said those businesses impacted by the Covid-19 pandemic are eligible through the Louisiana Main Street Recovery program.
Womack said local business owners can apply for grant funds of up to $15,000 in reimbursable expenses.
Application for the program opened on Tuesday, July 28.
Grants will first be given to businesses who didn’t receive a Payment Protection Program loan, insurance payment, or an Economic Injury Disaster loan or advance as well as businesses owned by women, minorities and veterans.
Your small business must meet the following eligibility requirements in order to apply for the Louisiana Main Street Recovery Grant Program. Businesses that haven’t received financial assistance from other sources have priority during the first 21 days of the application acceptance period. All other applications will be delayed for consideration until August 18, 2020.
Businesses may be eligible if the business incurred interruption, disruption, unplanned expenses, or extraordinary costs associated with the COVID-19 pandemic or the public health measures put in place by state or local government officials.
If your business has already received assistance from other government programs, you can still be eligible for this grant program. Assistance previously received from other sources will be subtracted from your claimed amount on your grant. If you have received PPP money, you can still receive money from this program but not to the extent that you are recovering for the same costs incurred.
The award amounts and to whom the award was made will become public information.
Eligibility Requirements for Businesses:
· 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
If you have any questions regarding your eligibility, click below to take eligibility quiz.
What expenses can be used to calculate grant eligibility?
All costs must be reasonable and necessary, have a business purpose, be an incurred expense prior to filing the grant application (no future expenses can be claimed), and within the program period 3/1/2020-11/4/2020.
Costs incurred to meet public health requirements include:
· Signage to create social distancing measures.
· Cleaning or disinfecting areas due to COVID-19.
· Personal protective supplies for employees or customers.
· Equipment necessary for public health or to respond to changes in business environment, including but not limited to:
o Equipment to screen employees or customers to ensure they are not positive for COVID-19.
o Equipment to track employees or customers who have tested positive for COVID-19.
o Technology expenses to facilitate teleworking.
· Rent for additional facilities or storage to allow for social distancing.
· Facility renovation costs to promote social distancing (partitions, shields, etc.).
· Temporary structures to promote social distancing.
Business interruption costs
· Mortgage interest of a business.
· Rent of existing business locations, equipment.
· Lease costs of vehicles.
· Employee Payroll, including employer payroll taxes, health and retirement benefits. For sole proprietors, and other persons whose compensation is derived from receiving a draw from the business, a deemed salary/wage will be allowed in an amount equal to the number of hours worked times the median hourly wage for all occupations in the State of Louisiana according to the most recent data published by the US. Bureau of Labor Statistics.
· Inventory that is unable to be sold (up to $1,000).
· Professional costs for filing Main street claims (not to exceed $500).
What expenses cannot be used to calculate grant eligibility?
Unless listed above, costs will be ineligible. However, for clarity, the following costs are specifically identified. This list is not all inclusive.
· Expenses associated with a personal residence, “home office expenses”.
· Lost Profits.
· Meals and Entertainment costs.
· Donations, political or charitable.
· Club membership dues.
· Legal settlements.
· Damages that have been or will be covered by insurance.
· Costs that have been or will be reimbursed by any other federal or state program.
· Capital expenditures (more than $2,500) not COVID-19 related.
· Vehicle Purchases.
· Real Property purchases.
· Mortgage principal payment.
· Credit card payments that do not contain eligible expenses.
· Other non-mortgage debt. For more information, see www.louisianamainstreet.com or call 1-888-795-4947