Mayor-President Sharon Weston Broome on Thursday announced the launch of a $1 million microgrant program available to locally-owned small businesses affected by the coronavirus pandemic.
The Resilient Restart EBR Program will support small businesses that are classified as low-to-moderate income based on federal guidelines, as well as, those who own and operate a business in a low-to-moderate income census tract in East Baton Rouge Parish.
Special consideration will be given to businesses that are classified as a Disadvantaged Business Enterprise.
"The coronavirus pandemic placed an unprecedented financial burden on our businesses — many did not receive federal assistance from the Payroll Protection Program or SBA Loans," Broome said in her prepared remarks about the program. "Through the collaboration of leaders in our community, we were able to join together and create a program to offer assistance to our small businesses when they need it most, and without the burden of repayment."
Qualifying microenterprises and small businesses who apply will receive one-time grants of $2,500. The grant awards do not require repayment, and can be used for rent, utilities, inventory, accounts payable, fixed costs, employee wages, and benefits.
The $1 million program’s funding is derived from the CARES Act through the Department of Housing and Urban Development’s Community Development Block Grant Program; the Louisiana Office of Community Development; Investar Bank; GMFS Mortgage; Urban League of Louisiana; and Postlethwaite & Netterville.
Eligibility requirements and program applications are available at www.urbanleaguela.org/restartebr .