Updated: Nov 17, 2020
Last week, the Ohio Development Services Agency released guidance for the State’s new $125M Small Business Relief Grant. The application for this grant opens today (Monday, November 2, 2020) at 10:00 AM.
More Information: https://businesshelp.ohio.gov/
The purpose of this grant is to assist Ohio businesses that have been negatively impacted by the COVID-19 pandemic and mandated health orders, using funding the State of Ohio received through the CARES Act.
Who is Eligible?
For-profit businesses with no more than 25 total or 25 full-time equivalent Ohio employees as of January 1, 2020
Applicant must have a physical location in Ohio
Applicant must earn at least 90% of annual revenue from Ohio-based activities
Applicant must have been in continuous operation since January 1, 2020, except for interruptions required by COVID-19 public health orders
Applicant must have a going concern regarding the continuation of operations
Who is Not Eligible?
Publicly traded businesses
Majority interest owned by persons under the age of 18
Businesses operating within the following industries:
Advancing or managing partisan political activities or political issue advocacy
Long-term care centers
Sale or distribution of liquor, tobacco products, or vaping products
Subject to the Financial Institutions Tax under Chapter 5725 of the Revised Code
How May I Use the Funds?
Grant funds can be used to reimburse eligible businesses for the following expenses:
Personal protective equipment (PPE) to protect employees, customers, or clients
Measures taken to protect employees, customers, or clients from COVID-19
Mortgage or rent payments for business premises
Personal residences are explicitly excluded
Salaries, wages, or compensation paid to contractors or employees, including an employer’s share of health insurance costs
Business supplies or equipment
How Does the Application Process Work?
Each eligible business who submits a complete application will be eligible for a $10,000 grant, in accordance with the below distribution guidelines:
$44M has been set aside to ensure that 50 businesses in all 88 Ohio counties will be funded.
Grants will be awarded on a first-come, first-serve basis from each county’s allocation.
When a county’s allocation is depleted, grants will be awarded from the remainder of funding on a first-come, first-serve basis, regardless of the business’ location.
If the state does not receive eligible applications to award all 50 grants to businesses in each county within the first 21 days, the remaining funds allocated to that county will become available to all other businesses, regardless of their location in Ohio.
Please reach out to us with any questions.