Louisiana Act 311 set aside $300 million from the CARES Act for a small business grant program. Businesses can apply for up to $15,000 to cover eligible expenses.
Program updates will be posted at www.latreasury.com
Small businesses can start applying on July 28 for grants to help cover COVID 19-related expenses.
First 21 days: Grants will be given to businesses who DID NOT receive a Payment Protection Program loan, insurance payment or an Economic Injury Disaster loan.
First 60 days: $40 million will go to businesses owned by women, minorities and veterans.
Within 20 days of receiving an application, the State must issue payment or a rejection.
Begin putting together your paperwork! Grants can only be given as long as there’s funds available.
Was your business impacted by COVID-19?
Timeline
- 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
Businesses must meet these criteria:
What information will be needed?
- Federal taxpayer identification number
- State taxpayer identification number
- Louisiana Department of Revenue account number
- Business legal name and authorized representative name, address, phone number and email address
- Date of formation/creation
- Business address, phone number and email address
- Industry category and business type
What’s an eligible expense?
Costs related to meeting public health requirements tied to COVID-19, including, but not limited to:
- Creating social distancing
- Cleaning and disinfecting
- Purchasing equipment to protect employees and/or customers (hand sanitizer, masks, gloves, thermometers)
- Contactless equipment (credit card readers, etc.)
- Expenses to facilitate teleworking (laptops, printers, scanners)
- Necessary re-opening expenses (tents, outdoor tables)
- Signage pertaining to reopening or restructuring
- Installation of drive-through windows
- Business interruption costs related to COVID-19, including, but not limited to:
- Unemployment insurance costs
- Providing paid sick leave
- Inventory replacement (replacing spoiled food)
- Increased labor costs (hiring delivery drivers)
- Mortgage interest (for home office)
- Rent
- Payroll
- Utilities
What’s an ineligible expense?
- Lost profits or lost revenue
- Damages that have been or will be covered by insurance
- Costs that have been or will be reduced by any other federal or state program
- Severance pay
- Legal settlements
