WEDNESDAY, JUNE 30, 2021
The State of Ohio has launched four grant programs worth a combined $155 million to help its small and medium-sized businesses recover from the impact of the pandemic. Funds will be distributed on a first-come, first-served basis, and applications are open now. All the details can be found at BusinessHelp.Ohio.Gov under the “Investing in Ohio’s Future” heading.
Administered by the Ohio Development Services Agency, the programs include the following:
The Food and Beverage Establishment Grant: Will provide grants of $10,000, $20,000, or $30,000 to eligible restaurants, bars, coffee shops, and other food and drink businesses, with the amount being determined by the business’s 2020 revenue losses.
The Entertainment Venue Grant: Will provide grants of $10,000, $20,000, or $30,000 to eligible theaters, music venues, spectator sports venues, museums, and other entertainment venues, with the amount being determined by the business’s 2020 revenue losses.
The Lodging Grant: Will provide grants of $10,000, $20,000, or $30,000 to eligible hotels, motels, and bed and breakfast operations, with the amount being determined by the business’s occupancy rate decline in 2020.
The New Small Business Grant: Will provide grants of $10,000 to eligible small businesses that were established between Jan. 1, 2020, and Dec. 31, 2020.
Application Help
According to the State’s press release, Ohio Small Business Development Centers and Ohio Minority Business Assistance Centers are staffed with advisors who can help businesses with the application process.
Grant monies are being set aside for businesses in each of Ohio’s 88 counties. If businesses in a county don’t deplete the county’s allocation by July 31, 2021, the remaining funds will become available to businesses statewide.
The above information does not constitute advice. Always contact your insurance broker or trusted adviser for insurance-related questions.
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