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Applications open for Lafayette's Business Recovery Program

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Posted at 11:38 AM, Jan 30, 2021
and last updated 2021-01-30 20:00:40-05

Business owners in Lafayette struggling amid the pandemic have an opportunity for financial assistance.

The Lafayette Business Recovery Program launched by Lafayette Consolidated Government (LCG) and Lafayette Economic Development Authority (LEDA) aims to stabilize local businesses and retain and create jobs.

LCG and LEDA received around $800,000 in funding and the Business Relief Fund currently holds about $400,000, so LCG's Chief of Minority Affairs Carlos Harvin said there is still assistance available for small businesses.

Businesses may apply for a forgivable load or grant of up to $10,000 to assist with up to three months of costs associated with qualifying business expenses incurred not prior to March of 2020. This includes but is not limited to rent, payroll, benefits, and utilities.

Applications for the program are now being accepted at lafayette.org/brp.

Harvin explained that the program is especially focused on small, local businesses and is open to any business that was open before the pandemic but was forced to shut down through no fault of their own. Harvin added that restaurants, barber shops, clothing stores, and even financial service companies have received funding through the partnership with LCG and LEDA.

"Small businesses are the lifeblood of our economy, and Lafayette is known for entrepreneurship," Harvin stated. "We want them to know they've got a partner at City Hall in the mayor's office, in LEDA, LCG. It means families being able to pay rent, put food on the table, provide for their children. When those small businesses close, we all suffer. We want to let them know there's help on the way."

The program launched last June in an effort to provide relief to the business community impacted by the COVID-19 pandemic.

Business owners can begin the pre-application process now; this step determines if your business qualifies for funding. Officials will review all pre-applications and will follow up with those who qualify.

Visit lafayette.org/brp for more information and to begin the application process.

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