Home Business Lafayette Suspends Business Assistance Program Due To Lack Of Federal Funding

Lafayette Suspends Business Assistance Program Due To Lack Of Federal Funding

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From the City of Lafayette:

In March 2020, a national emergency and a county shelter-in-place order were declared due to the global spread of COVID-19. Several Lafayette businesses were immediately impacted by the shelter-in-place order and had to cease operations. Other businesses had to severely limit their operations. Local non-profits were also restricted in their ability to raise funds necessary to offer their programs and services. 

To assist local businesses and non-profits, the City of Lafayette created the Lafayette Business Assistance Program and hired Townsend Public Affairs in April to help businesses and non-profits access available resources offered by state and federal governments. 

The Lafayette Business Assistance Program has been offering services for more than five months and the program has assisted 92 local businesses, including 10 non-profits to secure $1,561,100 in Federal funding, affecting some 460 members of Lafayette’s workforce. In addition, 822 Paycheck Protection Program (PPP) loans were received by Lafayette businesses and organizations, including 718 loans below $150,000, and 104 loans above $150,000. 

Despite months of negotiations, Congress has not reached a deal on the Phase 4 Coronavirus Relief Package. As a result, this week the Lafayette’s City Council voted to suspend the Business Assistance Program, effective September 15, 2020. 

The City’s Business Assistance Program webpage will continue to provide the Lafayette business community with updated and useful information. You can find the webpage here: https://www.lovelafayette.org/city-hall/lafayette-strong/lafayette-business-assistance

Should the next round of Federal funding contain an assistance package that could benefit Lafayette businesses, City staff will return to the Council with a request to resume the program.


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