The Louisiana Wholesale-Retail Dealer Grant Program (WDG) is designed to provide grants to wholesale-retail dealer impacted by the storms that have shown a commitment to remain in the fishery and can prove losses based on the programs design. Funds can be used by eligible wholesale-retail dealers to assist with paying down storm related uninsured and non-covered losses. Funds can be used to reduce payments of storm related fishery losses that are currently being financed at higher interest rates. Funds can be used to repair or replace gear and/ or for other eligible items that were lost or damaged during the 2008 storms. These funds will allow these firms to maintain employment and or return and or hire employees. The State will capture information on these firms at closing.
Program Size: - $8 million
Eligible: Wholesale-Retail Dealers
The WDG program is only eligible to Wholesale-Retail Dealers that hold a Louisiana Department of Wildlife and Fisheries resident 2008 and 2010 wholesale-retail dealer license, be able to prove $15,000 tangible loss and/or business experienced a decline of $15,000 in gross receipts and sales in 2006, 2007 or 2008 (pre-storm) versus 2008 or 2009 (post-storm) and provide other documents.
Individuals or businesses currently in bankruptcy proceeding are NOT eligible.
Funding: Applicants can apply for up to $100,000 for this 100% grant based on approval and availability of funds. If, after the close of the application period, the total request for funds exceeds the program allocation, the state will use a pro-rata allocation process to make individual awards that is based on applicants? revenue that is derived from commercial fishing.
Based on program demand at the close of the application process, the state will announce the final pro-rata formula and allocation if it is found to be necessary.