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Main Street Recovery Program reaches a $40M award goal

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Posted at 4:09 PM, Sep 18, 2020
and last updated 2020-09-18 17:09:27-04

State Treasurer John M. Schroder today announced the Main Street Recovery Program reached its goal of awarding $40 million to businesses owned by minorities, women and veterans a week ahead of schedule.

The legislation creating the Main Street Recovery Program set a deadline of Sept. 25 for awarding $40 million to minority-owned, women-owned and veteran-owned businesses. The Main Street Recovery Program reached the goal on Sept. 18.

"This was an important goal for us to reach, and it's only a fraction of the grants we're awarding. We're less than halfway into the program, and we already have more than $100 million that's been awarded or is in the pipeline for businesses," said Treasurer Schroder. "The pandemic crippled small businesses across Louisiana. We need to help these businesses survive and thrive. Main Street is delivering financial relief to businesses, and it's doing it ahead of schedule."

The Legislature set aside $275 million for the Main Street Recovery Program. More than 29,000 applications have been submitted since the program began on July 28.

Small businesses can visit www.louisianamainstreet.com to apply for a grant.

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