Small Business Grant Program
Are you a business or non-profit located in Medina County? Do you have fewer than 50 employees? If you answered yes to these two questions, you could be eligible for a small business grant! These grants are a one-time payment made to your business and will not have to be paid back.
Once you complete an application available at http://www.medinacounty.org/small-business-grant-program/, it will be reviewed to ensure you meet the criteria. You will receive a confirmation email as to your eligibility within 48 hours of receipt.
The committee will receive applications from July 20, 2020, to August 14, 2020, at 4:00 pm. They will meet the week of August 17 to make awards. Grants are available up to $10,000 and are to cover reimbursable expenses. You will need to state the expenses to be covered in your application, and certify you will spend the money on those expenses at the time you receive your check.
Expenses can include:
- Purchase of personal protective equipment
- Benefits paid to furloughed employees
- Rent, utilities, etc. incurred during the shutdown
- Other expenses incurred due to COVID-19 and/or the mandated shutdown
If you have any questions, please contact MCEDC at email@example.com.
Get your application TODAY! There will be no extensions on submitting your application for any reason!
Paycheck Protection Program (PPP)
The program would provide cash-flow assistance through 100 percent federally guaranteed loans to employers who maintain their payroll during this emergency. If employers maintain their payroll, the loans would be forgiven, which would help workers remain employed, as well as help affected small businesses and our economy snap-back quicker after the crisis.
- Eligible recipients may qualify for a loan up to $10 million determined by 8 weeks of prior average payroll plus an additional 25% of that amount.
- Loan payments will be deferred for six months.
- If employers maintain their workforce, SBA will forgive the portion of the loan proceeds that are used to cover the first 8 weeks of payroll and certain other expenses following loan origination.
This program would be retroactive to February 15, 2020, in order to help bring workers who may have already been laid off back onto payrolls.
The Paycheck Protection Program resumed accepting applications on July 6, 2020, at 9:00 AM EDT in response to the Paycheck Protection Program Extension Act. The new deadline to apply for a Paycheck Protection Program loan is August 8, 2020.
➡️ Find an eligible lender near you: https://www.sba.gov/paycheckprotection/find
➡️ Get matched with a lender: https://www.sba.gov/funding-programs/loans/lender-match
➡️ Learn more about PPP: https://www.sba.gov/paycheckprotection
Updated PPP Loan Forgiveness Forms
If you’ve already received a Paycheck Protection Program loan to help your small business with paying your employees during COVID-19, or you just want to know more about how these loans will be processed for forgiveness on the back end, the SBA and Treasury have released new revised, more borrower-friendly PPP forms including:
In addition to revising the full forgiveness application, SBA also published a new EZ version that applies to some borrowers.
For more information on these forms, you can read the full news release.
Ohio PPE Retooling and Reshoring Grant Program Guidelines
The Ohio Development Services Agency (“Development”) will accept applications for the purpose of providing grants to manufacturers and other entities to assist in retooling existing facilities through purchasing the necessary equipment to manufacture critically needed Personal Protection Equipment (PPE) for use in Ohio or reshoring PPE production to Ohio. These grants will allow small manufacturers and other entities an opportunity to create new business while contributing to the fight against COVID-19.
Application and Reimbursement Process
- Businesses apply for funding via an online portal.
- Development receives applications and shares with program partners for review.
- The applicant receives the notification of award and enters into a grant agreement with Development.
- The applicant receives initial grant funding for eligible costs incurred and may subsequently seek reimbursement of remaining grant funding after providing evidence of eligible costs incurred.
Visit HERE for more information.
Ohio Minority Micro-Enterprise Grant Program
Many Ohio small, minority- and women-owned businesses have been hard hit by the COVID-19 pandemic. The Ohio Minority Micro-Enterprise Grant Program provides $10,000 in funding to help these companies through the current crisis and set them up for the future.
To be eligible, businesses must have been certified as a Minority Business Enterprise or woman-owned EDGE-certified business as of Feb. 29, 2020; have 10 or fewer employees and up to $500,000 in annual revenue; and have not received funding under the federal CARES Act.
To qualify, businesses must be current on all taxes and private or public loans. Grants will be awarded on a first-come, first-served basis.
Visit HERE for more information.
Appalachian Growth Capital Loan Program
Many small businesses in Ohio’s Appalachian region have been hit hard by the COVID-10 pandemic. The Ohio Development Services Agency and the Governor’s Office of Appalachia will provide $10 million in funding to help these businesses through the crisis.
This new loan program provides funding to the Appalachian Growth Capital LLC, which is a U.S. Treasury-Certified Community Development Financial Institution that provides small business financing in the 32-county Appalachian region of eastern and southern Ohio.
- Businesses located in the 32-county region with less than $40 million of revenue in the most recently completed tax year are eligible.
- Appalachian Growth Capital will offer loans to small businesses at 2 percent interest.
- The maximum loan amount is $500,000, and businesses will have the ability to defer payment for up to six months.
The fourth application period begins June 1 and runs through June 30. Both employers and prospective employees can apply. The program aims to expand training for people who are underskilled and to help businesses improve the technology skills of their workforce. The state will reimburse up to $2,000 for a technology-focused credential. To be eligible, credentials must take less than a year to acquire and be industry-recognized.
To support the changing needs of businesses during the pandemic recovery, the changes below were made to the TechCred program:
- To make TechCred more flexible for upskilling new hires, employers are no longer required to list employee names when applying for TechCred. Instead, they will identify the number of current or prospective employees they will upskill.
- To account for possible staffing changes, employers who were approved in October 2019, January 2020 and March 2020 rounds of TechCred may now substitute employees listed in their original application.
- Employers approved in October 2019 and January 2020, who had credential programs interrupted by the crisis, may request to extend their 18-month award eligibility timeline.
- Employees can now earn multiple credentials during each application period.
Visit TechCred.Ohio.Gov for more information and to apply.
Responsible RestartOhio is about protecting the health of employees, customers, and their families; supporting community efforts to control the spread of the virus; and, leading in responsibly getting Ohio back to work.
- All health care procedures, including non-essential, dental, and veterinarian services, that do not require an overnight stay in hospitals allowed to resume on May 1.
- General office environments, manufacturing, distribution, and construction companies allowed to resume operation on May 4.
- Consumer and retail stores, services allowed to reopen on May 12, but facial coverings are required for all employees inside the business.
- Hair salons, barbershops, spas, and nail salons allowed to reopen on May 15.
- Opening dates for restaurants are:
- May 15 - Outdoor dining
- May 21 - Dine-in service
- Ohio Bureau of Motor Vehicles allowed opening on May 26.
- Golf, softball, baseball, and tennis, can resume on May 26.
- Horse racing can resume on May 22.
- Childcare centers can reopen on May 31 with a reduced number of students and increased cleaning.
Please check out the links below for more information:
- Sector Specific Operating Requirements
- COVID-19 Responsible Protocols for Getting Ohio Back to Work
- Continued Business Closures
Office of Small Business Relief
A new office has been developed within the Ohio Development Services Agency to better coordinate Ohio’s efforts to identify and provide support for Ohio’s nearly 950,000 small businesses.
The Office of Small Business Relief (OSBR) will:
- Serve as the state’s designated agency for administrating federal recovery funds awarded to Ohio for small business support and recovery;
- Work with federal, state, and local partners to evaluate and determine possible regulatory reforms that encourage employment and job creation; and
- Coordinate efforts of Ohio’s Small Business Development Centers and Minority Business Assistance Centers.
Visit HERE for more information.
Small Business Debt Relief Program
This program will provide immediate relief to small businesses with non-disaster SBA loans, in particular 7(a), 504, and microloans. Under it, SBA will cover all loan payments on these SBA loans, including principal, interest, and fees, for six months. This relief will also be available to new borrowers who take out loans within six months of the President signing the bill into law. Visit HERE for more information.
Economic Injury Disaster Loan Emergency Advance
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.
- Economic Injury Disaster Loan Application
- Disaster Loan Application Portal (DLAP)
- EIDL Webinar on YouTube
- SBA’s Local Assistance Directory
- Small Business Owners Guide to the Cares Act
Visit HERE for more information.
SBA Express Bridge Loans
Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster Loan. If a small business has an urgent need for cash while waiting for decision and disbursement on Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan. Visit HERE for more information.
Employee Retention Credit
The Employee Retention Credit is a refundable tax credit against certain employment taxes equal to 50 percent of the qualified wages an eligible employer pays to employees after March 12, 2020, and before January 1, 2021. Eligible employers can get immediate access to the credit by reducing employment tax deposits they are otherwise required to make. Also, if the employer’s employment tax deposits are not sufficient to cover the credit, the employer may get an advance payment from the IRS. Visit HERE for more information.
COVID-19 Job Search
If you are hiring, post your jobs HERE for free. This site is designed to help companies connect with workers available.
- Facebook Business Resources
- Facebook Small Business Grants
- Health Insurance Coverage Flexibility
- Help for Entrepreneurs
- IRS Coronavirus Relief
- JobsOhio Resources for Ohio Businesses
- Manufacturing and Best Practices for COVID-19
- PPE Resources
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