OHIO BUSINESS FUNDING OPPORTUNITIES:
Lt. Governor Jon Husted announced the creation of three programs to help small and medium-sized businesses in Ohio during the COVID-19 pandemic. The programs will be administered by the Ohio Development Services Agency:
- Ohio PPE Retooling and Reshoring Grant Program
- Ohio Minority Micro-Enterprise Grant Program
- Appalachian Region Loan Program
Ohio small businesses can learn more about these and other resources available through the Office of Small Business Relief and Development at Coronavirus.Ohio.Gov/BusinessHelp.
Paycheck Protection Program – Forgiveness Application
The Small Business Association (SBA) released its Loan Forgiveness Application for the Paycheck Protection Program (PPP) loan.
The chart below highlights each of the PPP loan provision modifications:
Provision Original PPP Loan Provision Updated PPP Loan Provision Loan term/maturity (excess left after loan forgiveness) 2 years 5 years Loan – Covered Period 2/15/2020 – 6/30/2020 2/15/20 – 12/31/20 Loan Forgiveness – Covered Period 8 weeks from disbursement of funds The earlier of 24 weeks from disbursement of funds or 12/31/20 (borrowers receiving loans prior to 6/5/20 may elect, i.e. keep the original 8-week covered period) Payment Deferral 6 months from the end of the covered period Must submit loan forgiveness application within 10 months after the last day of the covered period Loan Forgiveness Reduction Based on Reduction in Full-Time Equivalent (FTE) Employees Waived if number of FTE employees is restored by 6/30/20 Waived if number of FTE employees is restored by 12/31/20 or qualify for the Exemption Based on Employee Availability* Loan Forgiveness Limitation 75% of the loan forgiveness amount must be attributable to payroll costs Must use at least 60% of the covered loan amount for payroll costs
*Exemption Based on Employee Availability.Date 6.05.2020
SCORE Programing for Businesses
SCORE offers free live and recorded webinars & interactive courses on demand on small business topics.
Click HERE for more information on upcoming and recorded courses.
Local SCORE officeSCORE Geauga County14111 Claridon Troy RoadSCORE Geauga Campus, Kent StateBurton, OH, 44021Phone: 216.503.8168 Option 2
One-Time Liquor Rebate Program
Governor DeWine announced a one-time rebate to defray the cost of restocking high-proof liquor. Beginning in mid-May, JobsOhio will provide a $500 rebate for eligible purchases made through Ohio Liquor Contract Agencies. This is one of many innovative programs developed by JobsOhio to assist businesses as they navigate the impact of the pandemic. For more rebate information and program registration, visit wholesale.ohlq.com.
University Hospitals Healthy RestartUH has provided this Restart Playbook that your company can consider as you begin this phase.For additional information you can also visit www.uhhospitals.org/university-hospitals-healthy-restart
middlefield means business - video
This video showcases the Village of Middlefield. It illustrates the positive reasons for residing in Middlefield as well as locating a commercial or industrial business within the Village. Local business leaders represent each of these attributes and tell the story of what Middlefield Village has to offer.