COVID Resources for Businesses

In response to economic hardships experienced by small businesses resulting from the COVID-19 pandemic, Lafayette Consolidated Government (LCG) and Lafayette Economic Development Authority (LEDA) have launched the Lafayette Business Recovery Program to stabilize local businesses and retain/create jobs. LCG is accepting pre-applications in anticipation of receiving HUD funds.

Businesses may apply for a forgivable loan 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 27, 2020—including but not limited to rent, payroll, insurance, benefits, and utilities.

Information and resources provided for the governor's office.

This site allows you to register your business to receive updated communication, notifications, and helpful guidance via email from the State Fire Marshal’s Office specific to your business type. These notifications will answer the important questions:

• When can I partially or fully open my business?
• What are the steps to open my business?
• What changes can be expected for businesses that have been operating, but with restrictions?
• What restrictions are my business subject to, if any?
• Are there any new sanitation requirements for my business?
• Are there any personal protective requirements (masks, gloves, etc.) for my employees?

The CARES Act provides economic assistance to workers, families, and small businesses and preserves jobs for American industries.

The FFCRA provides businesses with tax credits to cover certain costs of providing employees with required paid sick leave and expanded family and medical leave for reasons related to COVID-19, from April 1, 2020, through December 31, 2020.

The Employee Retention Credit under the CARES Act encourages businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19.

Mask Up Lafayette Download an easy-to-print sign to post at your business' entrance. Let's work together to keep our businesses open and our friends and family members employed.

The CARES Act includes a key provision—the Paycheck Protection Program—that expands the U.S. Small Business Administration’s (SBA) existing 7(a) loan program. As of August 8, 2020, SBA is no longer accepting PPP applications from participating lenders. The COVID Relief Package passed in December 2020 included provisions for additional PPP funds. Updates will be shared when available.

Attachments:

PPP Frequently Asked Questions

PPP Forgiveness for Loans of $50,000 or Less

PPP Loan Forgiveness Application

We’re here to help you overcome the challenges created by this health crisis. We offer multiple funding options for those seeking relief. Read more below.

The EIDL program is designed to provide low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of COVID-19. SBA’s Economic Injury Disaster Loans offer up to six months of working capital. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. The deadline to apply for this program has been extended to December 31, 2021.

• Businesses, public bodies, cooperatives, and nonprofits in rural areas
• Rural areas include towns and cities with 50,000 or fewer population
• Approved loan uses include acquisitions, equipment purchases, debt refinancing, job creation
• Lenders include federal and state banks, farm credit banks, and credit unions
• Interest and principal payments are deferred for three years