From The Columbus Dispatch —
Ohio small and medium-sized business hurt by the coronavirus are eligible for grants up to $30,000 under new programs rolled by the state this week
The programs will provide a total of $155 million to businesses than opened in 2020, food and beverage establishments, entertainment venues and lodging venues.
The program is one of several that have been put in place to help businesses through the coronavirus.
The money comes from federal aid awarded to the state. The funds were made available by the Ohio General Assembly as part of Senate Bill 108 and Senate Bill 109 that Gov. Mike DeWine signed into law in May.
Information about the programs is now available at BusinessHelp.Ohio.Gov. Applications opened Tuesday, June 29.
Ohio Small Business Development Centers and Ohio Minority Business Assistance Centers have advisers who can help businesses with the application process.
The state is spreading money from all four programs to each of Ohio’s 88 counties.
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.
The programs provide grants of $10,000, $20,000 or $30,000. The size of the grant will be based on the loss of revenue in 2020 for each business.
Food and beverage establishments will get most of the money, $100 million.
Grants for the entertainment venues total $20 million, lodging grants total $25 million and the new small business grants total $10 million.
Continue reading at DIspatch.com
Contact Pinnacle CPA Advisory Group
If you need tax planning or accounting help, get in touch with the experts at the Pinnacle CPA Advisory Group. Call us at (614) 942-1990, reach us by sending an email to [email protected], or fill out our Contact form at cpaagi.com/contact.