Main Street Program Moving Fast

In just a few days 20,000 small businesses around Louisiana have initiated applications with the state’s Main Street Recovery Grant Program. Of those, 9,000 business owners have successfully completed applications, which are now being processed, and could receive their checks in the next two to three weeks. The statistics on the program were released from Louisiana Treasurer John Schroder’s office, which is overseeing the small business grant program. Of the major takeaways in the report, the only concern highlighted by Schroder was the number of applicants deemed ineligible because they are not in “good standing” with the Louisiana Secretary of State’s office. The Main Street program was created by the Legislature out of nearly $300 million in federal coronavirus relief money originally intended for state and local governments. Qualified small businesses are eligible to recoup up to $15,000 of expenses incurred as a result of the pandemic. The program particularly targets small businesses that did not receive any other type of federal pandemic relief and minority-owned businesses. The largest number of applicants, 25%, have come from the state’s most populous region, which includes Orleans and Jefferson parishes.