Funds doubled for small business grant programs


County set-asides end July 31

Submitted article



COLUMBUS — Ohio Governor Mike DeWine recently reminded Ohio business owners that grants are available through the Ohio Department of Development to help small and medium-sized businesses recover from the impact of the coronavirus pandemic.

A total of $310 million is being offered across four grant programs to help new businesses that opened in 2020, food and beverage establishments, entertainment venues, and lodging venues. To ensure the grants are spread throughout the state, each program has a set-aside amount of funding for each of Ohio’s 88 counties. If businesses in a county do not deplete the county’s allocation by July 31, the remaining funds will become available to businesses statewide.

“I strongly encourage Ohio’s small and medium-sized business owners to apply for these grants,” said DeWine. “Funding is set aside for businesses in all of Ohio’s 88 counties and grants range from $10,000 to $30,000 apiece. As we continue our recovery from the pandemic, we want to give our local businesses this money to help them successfully move forward.”

When DeWine announced the launch of these grant programs in June, the grant fund totaled $155 million with money made available by the Ohio General Assembly through Senate Bill 108 and Senate Bill 109. On July 1, the fund doubled to $310 million when the new fiscal year budget was approved by the Ohio General Assembly and signed by Governor DeWine.

All four programs are administered by the Ohio Department of Development. Program guidelines, terms and conditions, and required documentation for all four programs are available at BusinessHelp.Ohio.Gov. Applications opened June 29 and will remain open until funds are exhausted.

Ohio Small Business Development Centers and Ohio Minority Business Assistance Centers are staffed with advisors who can help businesses with the application process.

Food and Beverage Establishment Grant — $200 million

This program provides grants of $10,000, $20,000, or $30,000 to restaurants, bars, coffee shops, and other food and drinking businesses. The amount of individual grants to eligible businesses is determined by the business’ loss of revenue in 2020.

To ensure the grants are spread throughout the state, $500,000 is set aside for businesses in each of Ohio’s 88 counties. As businesses in each county are approved for funding, the grants will be awarded on a first-come, first-served basis. When a county’s allocation is depleted, businesses in that county will be eligible to receive grants from the remaining funds in the overall grant program. If businesses in a county don’t deplete the county’s allocation by July 31, the remaining funds will become available to businesses statewide.

Entertainment Venue Grant — $40 million

This program provides grants of $10,000, $20,000, or $30,000 to theaters, music venues, spectator sports venues, museums, and other entertainment venues. The amount of individual grants to eligible businesses will be determined by the business’ loss of revenue in 2020.

To ensure the grants are spread throughout the state, $150,000 will be set aside for businesses in each of Ohio’s 88 counties. As businesses in each county are approved for funding, the grants will be awarded on a first-come, first-served basis. When a county’s allocation is depleted, businesses in that county will be eligible to receive grants from the remaining funds in the overall grant program. If businesses in a county don’t deplete the county’s allocation by July 31, the remaining funds will become available to businesses statewide.

Lodging Grant — $50 million

This program provides grants of $10,000, $20,000, or $30,000 to hotels, motels, and bed and breakfast operations. The amount of individual grants to eligible businesses will be determined by the business’ decline in occupancy rate in 2020.

To ensure the grants are spread throughout the state, $100,000 is set aside for businesses in each of Ohio’s 88 counties. As businesses in each county are approved for funding, the grants will be awarded on a first-come, first-served basis. When a county’s allocation is depleted, businesses in that county will be eligible to receive grants from the remaining funds in the overall grant program. If businesses in a county don’t deplete the county’s allocation by July 31, the remaining funds will become available to businesses statewide

New Small Business Grant — $20 million

This program provides grants of $10,000 to small businesses that were established between Jan. 1, 2020, and Dec. 31, 2020.

To ensure the grants are spread throughout the state, $100,000 will be set aside for businesses in each of Ohio’s 88 counties. As businesses in each county are approved for funding, the $10,000 grants will be awarded on a first-come, first-served basis. When a county’s allocation is depleted, businesses in that county will be eligible to receive grants from the remaining funds in the overall grant program. If businesses in a county don’t deplete the county’s allocation by July 31, the remaining funds will become available to businesses statewide.

County set-asides end July 31

Submitted article