SMALL BUSINESS

CORONAVIRUS RELIEF OPTIONS

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COVID-19 has had a large impact on a number of small businesses. Resources are available to small businesses through various relief programs.
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SMALL BUSINESS RELIEF GRANT

Designed to provide relief to Ohio businesses that have been negatively affected by COVID-19. Governor Mike DeWine has designated up to $125 million of funding received by the State of Ohio from the federal CARES Act to provide $10,000 grants to small businesses to help them through the current crisis.

The program, which will begin accepting applications November 2, 2020, will be administered by the Ohio Development Services Agency. Learn More >

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BAR & RESTAURANT ASSISTANCE FUND

Designed to assist Ohio’s on-premise liquor permit holders. Governor Mike DeWine has designated $38.7 million of funding received by the State of Ohio from the federal CARES Act to provide $2,500 assistance payments to on-premise liquor permit holders to help them through the financial difficulties experienced during the COVID-19 pandemic. These permit holders have not been able to fully use their liquor permit and it’s had an impact on their business.

The program, which will begin accepting applications November 2, 2020, will be administered by the Ohio Development Services Agency. Learn More >

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HOME RELIEF GRANT

Starting November 2, 2020, the state of Ohio, working with local Community Action Agencies, will help eligible Ohioans who are behind on rent, mortgage, and water and/or sewer utility bills catch up on past payments back to April 1, 2020 and provide additional assistance through December 30, 2020.

Ohioans can apply for assistance through their local Community Action Agency starting November 2, 2020. Learn More >

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SBA ECONOMIC INJURY DISASTER LOAN

Ohio small businesses and nonprofits are now eligible to apply for up to a $2 million, low-interest loan through the SBA. Starting the week of April 6, 2021 the SBA is raising the loan limit for the COVID-19 EIDL program from six months of economic injury with a maximum loan amount of $150,000 to up to 24 months of economic injury with a maximum loan amount of $500,000. Also, on March 16, 2021 the SBA extended deferment periods for all disaster loans, including the EIDL program, until 2022.  Learn More >
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PANDEMIC UNEMPLOYMENT ASSISTANCE

The new federal Pandemic Unemployment Assistance (or “PUA”) program provides benefits for many individuals ineligible for state unemployment benefits, including self-employed workers, 1099 tax filers and part-time workers. Learn More >
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THE PAYCHECK PROTECTION PROGRAM

Provides loans to help businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. SBA is currently offering; First Draw PPP Loans for first time program participants and Second Draw PPP Loans beginning January 13, 2021 for certain businesses who have previously received a PPP loan.  The Paycheck Protection program has been extended until May 31, 2021. Learn More >
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SHUTTERED VENUE OPERATORS GRANT

The Shuttered Venue Operators Grant (SVOG) program was established through the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act and amended by the American Rescue Plan Act to provide over $16 billion in economic relief to target industries. The SVOG application is slated to open April 8, 2021. To prepare for the application portal opening on April 8, potential applicants should get registered in the federal government’s System for Award Management (SAM.gov), as this is required for an entity to receive a grant. Learn More >
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RESTAURANT REVITALIZATION FUND

Restaurant owners should be watching for the launch of the Restaurant Revitalization Fund to be administered by the U.S. Small Business Administration. The SBA has not released details about the fund yet, but news reports indicate the agency plans to launch the program within weeks. The National Restaurant Association has produced a document that includes some details of the fund. Learn More >