Funding, Capital & Financial Resources
Small Business Guidance & Loan Resources
The Small Business Administration (SBA) provides low-interest economic injury disaster loans to businesses of all sizes. Loans are now available to Ohio businesses affected by the COVID-19 outbreak to help them pay fixed debts, payroll, AP or other bills expenses. Additional COVID-19 resources for small businesses can also be found on the SBA website.
Ohio Office of Small Business Relief
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.
Honeycomb Relief Loan Program
These Community-sourced loans for small businesses impacted by the coronavirus, up to $50,000, will offer a 45-day payment free period and a six-month interest-only period.
Verizon Small Business Recovery Fund
LISC will use the Verizon funding to provide grants of up to $10,000 to businesses facing immediate financial pressure because of COVID-19—especially entrepreneurs of color, women-owned businesses and other enterprises in historically underserved communities who don’t have access to flexible, affordable capital.
SharedWork Ohio is a voluntary layoff aversion program. It allows workers to remain employed and employers to retain trained staff during times of reduced business activity.
The Ohio Department of Job and Family Services has developed a webpage with answers to common questions regarding the coronavirus (COVID-19) and its impact on unemployment benefits. Additionally, a new COVID-19 layoff claim form has been created to expedite unemployment benefits for those affected.
Paid Leave Relief
Treasury, IRS and Labor announce paid leave for workers and tax credits for small and midsize businesses to swiftly recover the cost of providing Coronavirus-related leave.