Applications Open November 2nd!
for the Ohio CARES Act Relief Fund:
Small Business Relief Grant
The State of Ohio is launching the Small Business Relief Fund on November 2, 2020. This Program will provide grants of $10,000 to small businesses negatively impacted by the COVID pandemic. All businesses with 25 or fewer employees are eligible to apply.
In This Together Ohio
These programs are available to help businesses and individuals during the COVID-19 crisis.
The Small Business Relief Grant is 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.
The Bar and Restaurant Assistance Fund is 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.
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.
The programs and initiatives in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was previously passed by Congress are intended to assist business owners with whatever needs they have right now. These are new resources available for small businesses, as well as certain non-profits and other employers.
The Small Business Owner’s Guide to the CARES Act – Frequently Asked Questions and Guidelines
SMALL BUSINESS PAYCHECK PROTECTION PROGRAM
The Paycheck Protection Program established by the CARES Act, is implemented by the Small Business Administration with support from the Department of the Treasury. This program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.
The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses.
Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.
- U.S. Chamber Top Line Summary of New Cares Act Funding
- U.S. Chamber Praises Additional $310 Billion in Funding to Help Small Businesses Stay Afloat (4/24/2020)
Top-line Overview of PPP (3/31/2020)
- SBA Paycheck Protection Program Loan Report (4/16/2020)
- UPDATED 6/2020 – Guide to Small Business Emergency Loans – US Chamber of Commerce
- More information (3/31/2020)
- Search Tool: Find an Eligible Lender
- Borrower Application Form (4/2/20)
- Applicable Affiliation Rules
- More information (3/31/2020)
- Lender Application Form (4/2/2020)
- Lender Application Form for Federally Insured Depository Institutions, Federally Insured Credit Unions, and Farm Credit System Institutions (4/3/2020)
- Lender Application Form for Non-Bank and Non-Insured Depository Institution Lenders (4/8/2020)
- Frequently Asked Questions (4/24/2020)
- Interim Final Rule 1 (4/2/2020)
- Interim Final Rule on Applicable Affiliation Rules (4/3/2020)
- Interim Final Rule on Additional Eligibility Criteria and Requirements for Certain Pledges of Loans (4/14/2020)
- Interim Final Rule on Requirements for Promissory Notes, Authorizations, Affiliation, and Eligibility (4/24/2020)
ECONOMIC INJURY DISASTER LOANS
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. This advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available following a successful application. This loan advance will not have to be repaid.
The SBA’s Economic Injury Disaster Loan provides vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing as a result of the COVID-19 pandemic.
This program is for any small business with fewer than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by COVID-19.
Businesses in certain industries may have more than 500 employees if they meet the SBA’s size standards for those industries.
The Economic Injury Disaster Loan advance funds will be made available within days of a successful application, and this loan advance will not have to be repaid.