Business Resources:  updated 6/3/2020

 

The Ohio Minority Micro-Enterprise Grant Program

Many Ohio small, minority- and women-owned businesses have been hard hit by the COVID-19 pandemic. The Ohio Minority Micro-Enterprise Grant Program provides $10,000 in funding to help these companies through the current crisis and set them up for the future. To be eligible, businesses must have been certified as a Minority Business Enterprise or woman-owned EDGE-certified business as of Feb. 29, 2020; have 10 or fewer employees and up to $500,000 in annual revenue; and have not received funding under the federal CARES Act.To qualify, businesses must be current on all taxes and private or public loans. Grants will be awarded on first-come, first-served basis.

https://businesshelp.ohio.gov/Ohio Minority Micro-Enterprise Grant Program

Small Business Relief Office | Development Services Agency

The Office of Small Business Relief (OSBR) is focused on identifying and providing direct support to the state’s nearly 950,000 small businesses to help during the current public health crisis and to position them for a strong rebound. Click here to apply.

NEW! 2nd Round of Grants for businesses under 25 people
To apply:  https://www.surveymonkey.com/r/CNXMX3N

Cuyahoga County has established a Stabilization Fund to support businesses impacted by COVID-19. Complete this application to be pre-screened for grants and loans from the Stabilization Fund and other community partners. Businesses will qualify for funding based on eligibility metrics and need.

Second round applications are open and will close on Friday, May 15 at 5 p.m. Please note: not all eligible businesses will receive a grant or a loan.

About the Grants

  • Grant award announcements and distribution will begin during the week of May 26.
  • Awards will range from $2,500, up to $5,000.
  • Amounts will be determined by a Grant Committee based on review of eligibility requirements as well as business revenue and employee size.
  • Small businesses with up to 25 employees are eligible for grants.
  • The business name must be legally registered with the Ohio Secretary of State’s Office.
  • Businesses who applied in the first round, but were not selected for a grant, are welcome to reapply for the second round by completing the new application.
  • Businesses who received grant funding in the first round of applications are ineligible to receive funding in the second round.
  • Business owners can only apply for grant funding for one business, regardless of the number of individual businesses that they own.

Finalists will be contacted for further information and must submit the following documents to receive a grant:

  1. Copy of business bank statements generated within the last 30 days
  2. Articles of organization from the Secretary of State website
  3. Copy of driver’s license or government issued ID (front and back)
  4. Signed W-9
  5. Bank account information

Eligibility*
The grant amount will be decided by a Committee based on revenue and company size before the pandemic. Not all eligible applicants will receive a grant. Ineligible applicants will be contacted and directed to lenders offering low-interest loans for business-related expenses.

  • Business must have less than 25 employees.
  • Business must have an address and physical establishment in Cuyahoga County.
  • 25% of business employees must be Cuyahoga County residents.
  • Business must have opened before May 8, 2019.
  • Business must have had less than $1 million in revenue in 2019.
  • Business must have experienced 50% revenue loss since March 17, 2020.
  • The business name must be legally registered with the Ohio Secretary of State’s Office.
  • The business itself, and the business owner, may not own real property in Cuyahoga County with delinquent real property taxes totaling more than $1,000.
  • Businesses who are chosen as finalists will be contacted and must submit the following documents before being awarded:
    • Copy of business bank statements generated within the last 30 days.
    • Articles of organization from the Secretary of State website
    • Scanned driver’s license or government issued ID (front and back)
    • Signed W-9
    • Bank Account Information
  • Business must have a plan to re-open in one year and complete post-award requirements.
    • Businesses must acknowledge intention to reopen.
    • Businesses who are approved for a grant from the Stabilization Fund must complete a required post-funding survey within 30 days of receiving funding.
  • Businesses who applied in the first round, but were not selected for a grant, are welcome to reapply for the second round by completing the new application.
  • Businesses who received grant funding in the first round of applications are ineligible to receive funding in the second round.
  • Business owners can only apply for grant funding for one business, regardless of the number of individual businesses that they own.

The following preferences will be considered:

  • Preference will be given to business owners with a personal residence in Cuyahoga County.
  • The following business types will be given preference: service industry (restaurants/bars/personal care services/cosmetology), hospitality, neighborhood healthcare/grocers, general contracting, construction, and manufacturing.
  • Businesses in low to moderate income census tracts.
  • Additional consideration will be given to businesses who applied in the first round, but were not selected for a grant.
  • Ineligible businesses include liquor stores, tobacco stores, cannabis dispensaries, adult entertainment, financial services and banks, e-commerce, and franchises which are not locally owned and operated.

* Not all eligible applicants will receive a grant or a loan.

To apply:  https://www.surveymonkey.com/r/CNXMX3N 

Cleveland Virtual Tip Jar

Help the Cleveland Service Industry every time you have a drink or a take-out meal at home during social distancing, consider tipping a local worker through Venmo, PayPal, or Cash App.
www.clevelandtips.com/

Restaurant Employee Relief Fund
Fund will provide grants to restaurant industry employees who have been adversely impacted by COVID-19 financially, whether through a decrease in wages or loss of employment that results in a lack of resources to pay for essential expenses.  Grants of $500 per person are available.   https://rerf.us/apply-for-aid/

Coronavirus (COVID-19): Small Business Guidance & Loan Resources:

U.S. Small Business Administration programs range from large loans to a $10,000 Disaster Loan Advance that does not require repayment.  The application is short and small businesses are encouraged to apply ASAP
 https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources

Economic Injury Disaster Loans and Loan Advance

In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.

The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.

To apply for a COVID-19 Economic Injury Disaster Loan,
https://covid19relief.sba.gov/#/

http://jfs.ohio.gov/ouio/CoronavirusAndUI.stm?fbclid=IwAR06B1MvyrYGW8RRsRYNYPLecwgiojAFGHIj1N34ndVZFQ0m0k6R_Kdz8_Q

Bartender Emergency Assistance Program: https://www.usbgfoundation.org/beap.  

Pro-Bono Hotline Launch: This pro-bono (free) hotline for small businesses across Ohio helps you navigate available financial relief programs and answer related questions. KJK’s attorneys will be available at 1-888-4KJKLAW (1-888-455-5529) from 9 a.m. to 7 p.m. Friday, April 3, providing complimentary 20-minute consultations on the CARES Act and the SBA Loan programs businesses can take advantage of. Click here for program details and disclaimers.

COVID-19 Resources for Businesses 

West Park is a strong community and we are lucky to be home to so many small and local businesses. COVID-19 and the Ohio Orders related to its present small businesses with unprecedented challenges. We are sharing with you some of the resources that are available and encourage you to reach out to WPKND for assistance or questions.

Ohio Liquor Buy-Back

A bar or restaurant may return unopened high proof liquor products purchased within the last 30 days (on or after February 13, 2020)

  • To return, a bar/restaurant or F2 permit holder needs to bring the unopened high proof liquor product back to the liquor store they purchased the product.
  • The Agency will call the Liquor Enterprise Service Center (LESC) for approval. Approval is immediate, but awareness of the return is necessary.

For questions or more information regarding the one-time high proof liquor buy back, please feel free to contact the LESC at 877-812-0013 or OhioLiquorInfo@com.ohio.gov

Honeycomb Credit COVID-19 Relief Program

To help deliver the working capital that businesses need, Honeycomb is offering 45-day payment free periods, 6-month interest-only periods and reducing our posting, success, and investor fees. We’re also streamlining our due diligence to connect businesses with local investors as quickly as possible. As always, these loans are community funded via the Honeycomb crowdfunding platform. More information here

HFLA of Northeast Ohio 

In light of the financial burdens created by the spread of COVID-19, the Hebrew Free Loan Association (HFLA) is offering expedited interest-free loans of up to $1,500 for purposes including (but not limited to):

  • Lost wages due to inability to go to work
  • Child care costs due to school closures
  • Small business losses
  • Related medical costs

To apply, borrowers should contact HFLA at 216-378-9042 or email team@interestfree.orgor Brady@interestfree.org specifying that the request is for coronavirus related needs. If you need more funds you may be eligible to apply for HFLA’s standard interest free loan (up to $10,000 with a guarantor)

SBA Economic Injury Disaster Loan Program

The Ohio Development Services Agency is preparing to submit an application in the coming week to qualify Ohio for the U.S. Small Business Administration’s (SBA) Economic Injury Disaster Loan Program. This program provides low-interest loans up to $2 million in order to help businesses overcome the temporary loss of revenue during the state of emergency. In order to complete the state’s application, businesses impacted by the current public health crisis should immediately send their contact information to BusinessHelp@Development.Ohio.gov. Additional information on the SBA Economic Injury Disaster Loan Program is available at SBA.gov/Disaster.

Bartender Emergency Assistance Program

Financial assistance in the form of grants are available to a Bartender or the spouse or child of a Bartender, defined as an individual employed in serving beverages or otherwise engaged in the production, promotion or distribution of alcoholic beverages. For information and application visit: https://www.usbgfoundation.org/beap