LED: The check’s in the mail

Small businesses waiting on the second half of their Louisiana Business Recovery Grants and Loans take note: the check’s are in the mail.

Louisiana Economic Development spokeswoman Amy Ferguson said in a release grant funds were expected to be available beginning Monday. Payments had been delayed to accommodate an Officer of Community Development audit, which revealed that the majority of the grant applications are complete and accurate, she explained.

“The positive results of this mandated audit demonstrate the excellent work done by the community-based lenders, and moreover, the integrity and worthiness of the small business community across southern Louisiana,” said Michael Hecht, LED director of business assistance.

To date, approximately 550 of the businesses receiving grants have already received the second half of their grant payments, according to the LED. The 650 businesses waiting will begin to receive payments soon. The remaining businesses should not be affected by the temporary hold.

The grant and loan program is providing more than $63 million in grants to 3,500 hurricane-impacted businesses, along with more than $33 million in zero-interest loans to hundreds of companies.