According to Biz Magazine, State Treasurer John
Schroder, alongside state business leaders, is advocating on behalf of small
businesses by imploring Governor John Bel Edwards to sign Senate Bill 189,
dubbed the Main Street Recovery Fund, into law.
"Small businesses are an economic engine, and they're
running out of gas. They support nearly a million jobs in Louisiana. If we
allow those jobs to disappear, our economy will collapse. It's as simple as
that," said Treasurer Schroder.
The bill intends to create a small business grant fund using
$300 million of the federal coronavirus aid package. In an effort to achieve
equity, at least $40 million of the fund is set to serve businesses operated by
minorities, women, and veterans. The fund would be managed by the Louisiana
Department of Treasury.
According to WAFB9, Treasurer Schroder spoke of some
research done by the Louisiana Treasury that estimates that up to 100,000 businesses
in Louisiana have yet to receive any government assistance. Small-business
owners and associations across the state are urging Governor Edwards to sign
the legislation, for fear that, due to COVID-19, some businesses may have to
close up shop for good.
