Small businesses can start applying by July 28 for grants to help cover COVID 19-related expenses, State Treasurer John M. Schroder announced today at the State Capitol.
Through the Main Street Recovery Program, businesses can apply for up to $15,000 to cover eligible expenses. In the first 21 days of the program, grants will be given to businesses who didn't receive a Paycheck Protection Program 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.
Postlethwaite & Netterville (P&N), which is the largest Louisiana-based CPA firm, will serve as the program administrator to take applications, run a customer contact center, help small businesses complete applications and help with statewide outreach. MLCworks, a woman-owned Louisiana business, will help with digital marketing and advertising. Technology will be handled in house through OpenGov, which already operates Treasury's transparency website.
"Main Street is a life line for small businesses who are going under because of the pandemic. As a business owner, you put your blood, sweat and tears into your business. You shouldn't see your life investment collapse overnight," said Treasurer Schroder. "Main Street will deliver grants to businesses who need them the most."
"On behalf of P&N's almost 400 Louisiana team members, we are extremely excited to have the opportunity to be a part of the Louisiana Main Street Recovery Program. As a Louisiana-based firm serving clients throughout the state, we have experienced firsthand the impact of COVID-19 on all aspects of operations. We are ready to work hard to help deliver much-needed financial assistance to Louisiana small businesses, and appreciate the confidence the Treasurer has placed in our team to help administer this program," said Dan Gardiner, P&N CEO and managing director.
For more information on Main Street, visit www.latreasury.com.