New CARES Act Funding To Help Small Business & Nonprofit Organizations In Ohio
Funding from the CARES Act has been designated by Governor Mike DeWine to support small businesses and nonprofits impacted by COVID-19. Some of these new grants are great options to help our clients who are struggling as a result of the COVID-19 pandemic.
The Small Business Relief Grant
Small businesses can benefit from the new Small Business Relief Grant (SBRG), which is funded by the CARES Act and designed to provide relief to Ohio businesses that have been negatively affected by COVID-19. Up to $125 million of funding from the federal CARES Act has been designated by Governor DeWine to provide $10,000 grants to help small businesses survive and remain stable during these difficult times. The program will begin accepting applications on Nov. 2, 2020, and will be administered by the Ohio Development Services Agency.
Business that meet the following criteria are eligible to apply:
- For-profit entities
- At least one and no more than 25 Ohio employees, including full-time and part-time
- A physical location in Ohio and at least 90 percent of annual revenue is performed in and taxable to Ohio
- Has been in continuous operation since Jan. 1, 2020, except for interruptions required by COVID-19 public health orders
- A grant is necessary to help it recover from the impact of COVID-19
- Is in good standing with the Ohio Secretary of State, the Ohio Department of Taxation, and any other governmental entity charged with regulating the business
- Has fully utilized other government support received due to the pandemic
Check out our webinar on this additional CARES Act Funding to learn more.
The Bar & Restaurant Assistance Fund
New CARES Act funding has been allotted to assist Ohio’s on-premise liquor permit holders and it’s titled The Bar and Restaurant Assistance Fund. The $37.5 million pool of funds can help our clients who have liquor permits and have been significantly been impacted by COVID-19. More than 15,000 permit holders, including bars, restaurants, breweries, distilleries, wineries, casinos, and private clubs, qualify for assistance, according to The Ohio Department of Commerce Division of Liquor Control.
Home Relief Grant
The state of Ohio, working with local Community Action Agencies, will help eligible Ohioans behind on rent, mortgage, and water and/or sewer utility bills catch up on past payments back to April 1, 2020, and provide additional assistance through Dec. 30, 2020. Ohioans will be able to apply for assistance through their local Community Action Agency starting Nov. 2. Ohio households with an annual income at or below 200 percent of the federal poverty guidelines will be eligible for assistance.
Rural & Critical Access Hospital Funds
Also, $62 million in CARES Act funding is being allocated for rural and critical access hospitals as the COVID-19 response continues. This funding can be used for costs associated with the pandemic, including various safety measures, and the purchase of PPE for first responders.
CARES Act Funding For Higher Education
Colleges and universities in Ohio are eligible to receiving funding to support COVID-19-related services they provide. Governor DeWine has allocated $100 million in CARES Act funding for higher education that will support Ohio’s universities and colleges, including expanding testing for students, faculty, and staff, and mental health services.