News

• Louisiana Grant Program for Small Businesses - A $300 million grant program for small businesses in Louisiana will be rolled out soon, after being signed into law by the Governor. The Louisiana Main Street Recovery Program was passed by the Legislature and will provide grants of up to $15,000. Eligibility requirements for businesses include:
  • It had fewer than 50 employees on March 1, 2020
  • It was domiciled in Louisiana as of March 1, 2020
  • It suffered an interruption of business caused by forced or voluntary closures, or restricted operations due to social distancing measures, decreased customer demand, cleaning or disinfection expenses, and providing personal protective equipment

Businesses that received a Paycheck Protection Program loan are not initially eligible. The program is funded by federal CARES Act dollars and will be administered by the state treasurer who will present a plan this week for distribution of the funds. For an article summarizing the legislation, please click here. The Louisiana Main Street Recovery Program is a state grant program different from the federal Main Street program.
 

• Federal Main Street Lending Program Open for Business - The Federal Reserve started the process for its Main Street Lending Program today, opening the portal for eligible lenders. The program is open to businesses with fewer than 15,000 employees that were in sound financial condition before the onset of COVID-19. Loans under this program are not forgivable and have a loan term of five years. For more information, you can view the presentation delivered today by the Federal Reserve and access the Main Street Lending Program webpage here.

 

• Digital Literacy and Technological Upskilling – Today, GNO, Inc. announced a partnership with the United Way of Southeast Louisiana (UWSELA) to examine digital literacy and technological upskilling needs of workers in industries hard-hit by COVID-19. The partnership with UWSELA will enable GNO, Inc. to complete a displaced worker analysis that builds on national research and identifies local trends for key industry sectors to create a workforce recovery strategy that will bridge the digital gaps and upskilling needs of the region’s workforce.

 

Information & Resources

• CoronavirusSupplies – If you are looking for PPE, sanitizer, food providers, and other related products and services, search the GNOpivot Marketplace.
• Coronavirus Customers – If you have pivoted your business to make a new, coronavirus-related product, register on GNOpivot.
• Work – If you want a job in a sector that is surging right now, new openings are on WorkNOLA.com.
• Employees –A database of local talent looking for new job opportunities, including quick employment history and skills summary, is on the WorkNOLA Talent Directory. GNOmatch provides custom connections between companies with lay-offs, and those hiring for transferable skills.
• General Information – A range of guides and materials are catalogued on the GNO, Inc. Coronavirus Business Resource Page.

Webinars:

• Register for the “Restarting Your Business: PPP Compliance” webinar, Thursday, June 18th at 2pm, hosted by the Small Business Development Center at Southeastern Louisiana University. 
• CLICK Here to register for the “Restarting Your Business: PPP Compliance”

• Register for the “How to Calculate Your PPP Loan Forgiveness” webinar this Friday, June 19th at 2pm, hosted by the Small Business Development Center at Southeastern Louisiana University. 
• CLICK Here to register for the “How to Calculate Your PPP Loan Forgiveness”.

Please feel free to contact me or GNO, Inc. President & CEO Michael Hecht at mhecht@gnoinc.org with any questions or suggestions.

Thanks,

Ileana Ledet