Nicholls Small Business Hurricane Ida Residence Fund Launches Round Two

The second round of Nicholls Small Business Hurricane Ida Fund has been launched! Small businesses can apply for the grant if they are suffering from the damages caused by Hurricane Ida.

The fund is to provide limited help for businesses that are still suffering from the impacts of Hurricane Ida. $75,000 total funds are available for the second round of funding. $5,000 business grants will help businesses fill a gap to help solve issues faced by businesses. This means there are only 15 grants available. Each applicant must meet certain criteria in order to be accepted which is based on needs. “Due to the scale of the issues facing the Bayou Region community, Nicholls will provide limited assistance based on keeping the most impacted businesses solvent until a more permanent solution is found,” the release stated. Please keep in mind that the program does not replace lost revenues or profits. Not every applicant will receive funds.

The following are the criteria that must be met by applicants:

• The business must be located and operate primarily in Lafourche and Terrebonne Parishes.
• Were a viable business prior to August 29, 2021, with at least $10,000 in sales, currently operating, or in the process of reopening.
• The business must be considered a small business, as defined by the Small Business Administration (SBA). This excludes non-profit organizations.
• The business must not have already been awarded in the first round of the Nicholls Small Business Hurricane IDA Relief Fund.
• Businesses must explain why this funding is essential for their business.
• Applicants must explain how the fund will help their business recovery and continuity.
• The applicant must explain what their business wishes to accomplish over the next one to two years.
• The business must explain how important they are to the community.
• The application must be fully complete with all the needed information and materials.

The applications must be submitted by 6:00 p.m. on Monday, November 28. The application form and the following attachments must be submitted:

• Proof of business ownership/structure. The applicant only has to submit one of the following:
  • Articles of Organization
  • Copy of Parish Occupational License
  • Certificate of Occupancy (will only have if the business is a brick and mortar)
  • Proof of Good Standing with Louisiana Secretary of State (will only have if the business is an LLC)
• Evidence of business viability. The applicant must submit both of the following documents:
  • 2021 tax-return form or a letter of extension with a profit and loss statement
  • Verified 2022 year-to-date annual income statement
• Complete the survey on business resilience which can be done here.

If your business has been approved, you must fill out a completed W-9 form. Please note grant awards are reported as income per the IRS. Also, one must sign a public release form. Nicholls will track and aggregate data that is collected from the participating businesses. The data is used to demonstrate the business community’s needs and the resulting impact of philanthropic investments.  No worries, they ensure that proprietary data on a business application will not be made available to third parties.

Interested in applying for the second round of funding? Click here to download the form. Once complete, all forms and materials can be sent to the Nicholls College of Business at relief.fund@nicholls.edu.