The program includes several grants funded by the Federal CARES Act to small businesses and individuals. The business applications will open on November 2, 2020 on a first-come, first-served basis.
The following business programs are included:
- Small Business Relief Grant – provides $10,000 grants to businesses who have 1 -25 employees paid via W-2. The business must have experienced revenue loss or incurred unplanned costs substantially caused by COVID-19. There are additional eligibility requirements at the link below. The maximum amount to be provided by the state under this program is $125 million.
- Bar and Restaurant Assistance Fund – provides $2,500 payments to on-premise liquor permit holders. The maximum amount to be provided by the state is $37.5 million. This program is more of a refund for a portion of the liquor license, since the holder was not able to fully utilize it. We do not expect this application to be complicated.
Although the application for the Small Business Relief Grant has not been released, you will need your receipts and/or statements that show the amounts incurred to complete your application. The costs will need to be in the name of the business completing the application and either paid for or charged within a 60-day period prior to the filing date. Documentation will need to be attached to your application. The following costs can be included: payroll, utilities, rent or mortgage payments, supplies or equipment.
We encourage you to review the grant information before November 2nd so that you are prepared when the application process opens. You can access the information using the following link: https://businesshelp.ohio.gov/small-business-relief-grant.html.
We are here to assist you with the application should you need our assistance. Since the process is on a first-come, first-served basis, we will not be able to help everyone the moment the application process opens. Should you wish to hire us to complete the application for you we will work on a first-come, first-served basis as well. Our fee will be $400 to complete the application process and we will not begin your application until you have provided a paragraph on how you were impacted by COVID-19 and copies of the needed expenditures listed above.
Should you have additional questions, please feel free to contact us.
Stay Safe, The Davis, Nagy & Company Team