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Message
re: Has anyone applied/been funded for the Main Street recovery program?
Posted on 9/10/20 at 6:29 pm to gsvar2004
Posted on 9/10/20 at 6:29 pm to gsvar2004
quote:
they updated it to 15k last week.
Nice, did not know this
Can you get it if you got PPP?
We got payroll only, business is not owned by minority
2
Posted on 9/10/20 at 7:08 pm to LSUJML
Yes. Earlier in the process, you would have had to wait until they distributed funds to companies that did not receive PPP, but that window has closed now and those who did receive PPP are able to receive funds (assuming they are eligible in all other respects). I do believe you'll have to show your qualified expenses exceed the amount of your PPP loan.
Posted on 9/11/20 at 7:49 am to LSUJML
quote:
When calculating an applicant’s MSRP grant amount, either under the QuickRelief Option or Cost Reimbursement Option, the Program will conduct a duplication of benefits analysis. The Program will consider the following amounts received, as of the date of application, as duplication of benefits:
Amounts received from United States Small Business Administration – Guaranty Paycheck Protection Program (PPP);Amounts received due to a United States Small Business Administration Economic Injury Disaster Loan;Amounts received due to a United States Small Business Administration Economic Injury Disaster Loan Advance;Amounts received from any other federal program providing relief for the impact of COVID-19; and,Amounts received as a result of a business interruption insurance claim for COVID-19 related expenses.
Other “federal programs” that may generate a reduction in a MSRP grant could include the following:
Other specifically allocated CARES Act funds, such as the CARES Act allocation to the Louisiana Department of Education to provide grans to childcare providers; and,Any other federal funds received should also reduce the MSRP grant.
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