$125 million of funding received by the State of Ohio from the federal CARES Act has been designated for the state’s Small Business Relief Grant program.
The Ohio Development Services Agency will administer the program which will provide $10,000 grants to small businesses across the state that have been negatively impacted by the coronavirus pandemic.
Eligibility requirements include:
- The business must be a for-profit entity with no more than 25 total or full-time equivalent Ohio employees as of Jan. 1, 2020.
- The applicant business has a physical location in Ohio and earns at least 90% of annual revenue from activities based in Ohio.
- The business must have been in continuous operation since Jan. 1, 2020, except for interruptions required by COVID-19 public health orders and have the ability to continue operations as a going concern.
Grant funds can be used to reimburse eligible businesses for the following expenses because of revenue loss or unplanned costs caused by COVID-19:
- Personal protective equipment to protect employees, customers, or clients from COVID-19
- Measures taken to protect employees, customers, or clients from COVID-19
- Mortgage or rent payments for business premises (personal residences explicitly excluded)
- Utility payments
- Business supplies or equipment
- Salaries, wages, or compensation paid to contractors or employees, including an employer’s share of health insurance costs
Applications for the grant program open on Monday, November 2. Additional details on how funds will be awarded and the application process can be found here.
Applications for the Bar and Restaurant Assistance Fund also open on November 2. The assistance fund will provide $2,500 payments to on-premise liquor permit holders to help them through the financial difficulties experienced during the COVID-19 pandemic. An additional $38.7 million of CARES Act funding has been designated for the program.
For more information, visit businesshelp.ohio.gov.