Small businesses negatively affected by COVID-19 are eligible for a new Small Business Relief Grant. Ohio Development Services Agency will begin accepting applications for grants of $10,000 on Monday, Nov. 2, 2020. Governor Mike DeWine has designated up to $125 million for the grants out of CARES Act funding received by the State of Ohio.
Eligible businesses must be for-profit entities with no more than 25 total or full-time equivalent Ohio employees as of Jan. 1, 2020. The business must also have a physical location in Ohio and earn at least 90 percent of annual revenue based on activities performed in and taxable to Ohio. The business must have been in continuous operation since Jan. 1, 2020, except for interruptions required by COVID-19 public health orders and have the ability to continue operations as a going concern.
The Ohio Development Services Agency is establishing an online application for the program. Businesses applying for funding will be required to establish a registration ID with the state of Ohio. The application for the Small Business Relief Grant will be available at businesshelp.ohio.gov.
The grant funding will help businesses pay for a variety of expenses, including mortgage or rent payments; utility payments; salaries, wages, or compensation for employees and contractors; business supplies or equipment; and other costs.