Business Resources

Medina County Small Business Grant

The Medina County Commissioners have voted to allocate an additional portion of the funds from the CARES Act to the Medina County Small Business Grant Program. Companies have until OCTOBER 5, 2020 at 4:00 PM to apply. Please note that if someone has received funds but did not reach the $10,000 threshold, they are eligible to submit information to be reconsidered. The application can be found HERE.

Paycheck Protection Program (PPP)

The program is closed on August 8. As such, SBA is no longer accepting PPP applications from participating lenders.

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.

Businesses can apply at appcap.org.

TechCred - August 2020

The application period begins August 4 and runs through August 31. 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. Visit TechCred.Ohio.Gov for more information and to apply.

Responsible RestartOhio

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. Please check out the links below for more information:

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):

  • Serves as the state’s designated agency for administrating federal recovery funds awarded to Ohio for small business support and recovery;
  • Works with federal, state, and local partners to evaluate and determine possible regulatory reforms that encourage employment and job creation; and
  • Coordinates 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.

 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 long 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.