$125 Million in Grants Available to Ohio Small Businesses

The Ohio Development Services Agency has announced a November 2 opening for applications for grants totaling $125 million in CARES Act funds for eligible Ohio small businesses. To be eligible, an Ohio business must:

• • Be a for-profit entity

• Have had between one and 25 total or full-time equivalent (FTE) Ohio employees as of Jan 1, 2020 (Calculate FTE for purposes of the grant by dividing your 2019 compensated hours by 2,080 [52 weeks x 40 hours] which is different from the calculation used for the Paycheck Protection Program.)
• Have a physical location in Ohio
• Earn at least 90 percent of annual revenue on activities performed in and taxable to Ohio
• Have been in continuous operation since Jan 1, 2020, with the exception of any COVID-related mandatory shutdowns
• Have experienced revenue losses or unplanned costs caused by COVID-19 that make the grant, according to the announcement, “necessary to help the business recover”
• Be in good standing with the Ohio Secretary of State, the Ohio Department of Taxation, and all other government entities
• Have exhausted other government support received relative to the pandemic
• Not be considered an ineligible business as described at www.businesshelp.Ohio.gov

  Eligible uses of grant funds include:

• Personal protective equipment specific to COVID-19
• Measures taken to protect employees or customers from COVID-19
• Business mortgage or rent payments
• Business utility payments
• Compensation to contractors or employees, including employer’s share of healthcare insurance
• Business supplies or equipment

  Grant recipients must retain records of how funds are spent for five years from the final expenditure. Funds will be awarded on a first-come, first-served basis. Eligible businesses can apply at www.businesshelp.Ohio.gov as of Monday, November 2, at 10:00 a.m. For more information including application submission requirements, visit www.businesshelp.Ohio.gov.