Louisiana Main Street Recovery Grant Program
On June 12, 2020, Governor John Bel Edwards signed Senate Bill 189, Act 311 enacting several COVID-19 relief funds including the Louisiana Main Street Recovery Fund that awards grants to many Louisiana small businesses to assist in their recovery for the economic impacts of COVID-19.
NOTE: This program is facilitated by the state and all applications go directly to them. First Guaranty Bank wants to make sure you know what assistance is available to you.
THE PROGRAM IS OPEN FOR APPLICATIONS
The goal of The Main Street Recovery Grant Program is to help those who need it most.
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.
For a faster application process, businesses can start preparing the following:
- Federal Taxpayer Identification Number
- State Taxpayer Identification Number
- Louisiana Department of Revenue account number
- Business date of formation/creation
- Documentation to support eligible expenses (invoices, proof of payment, payroll records, vendor contracts, bank/credit card statements, rental agreements or mortgage statements, utility bills, etc.)
- Number of full-time equivalent employees (as of March 1, 2020)
- Information for all “Controlling Owners” of the business (defined as individuals or entities who exercise the power to make policy decisions). Information includes Name, Job Title, SSN or EIN, Residential Address, and Driver’s license Number
- Information regarding other sources of COVID-19 funding received from United Stated SBA programs (PPP, EIDL, EIDL Emergency Advance), other federal program, or insurance proceeds
- Copies of filed tax returns for 2018 and 2019
- Business Address, Phone Number and Email Address
- Industry Category and Business Type
Once the application is approved, a check will be mailed to the business within 10 days.