Ohio Small Business Relief Grant

Nov 2, 2020

Ohio Small Business Relief Grant

$125,000,000 has been designated for Ohio businesses negatively impacted by COVID-19 in grants of $10,000.  The SBRG is administered by the Ohio Development Services Agency.

 

To learn more, visit their website here

 

Applications begin today, November 2, 2020.  Don’t delay!  The funds will be disbursed as follows: $500,000 will be automatically allocated to businesses in each of Ohio’s 88 counties, and the remaining $81,000,000 will be awarded on a first come first served basis.  This means that there will be a total of only 12,500 grants.

 

As a summary, there are certain requirements to qualify, including that the business must have a maximum of 25 full-time equivalent employees based on 2,080 hours worked per year (remember, this is for “small” businesses).  The business must have a physical location in Ohio and derive at least 90% of its income from activities conducted Ohio.

 

Applications are submitted at businesshelp.ohio.gov, and will require certain information including:

 

  • Company name, address, federal tax ID number, etc.
  • Payroll records showing that there is at least one and no more than 25 employees
  • Proof that the business has incurred overhead expenses during the last 60 days
  • A copy of the business’s most recently filed Ohio income tax return

 

To complete and access your application, you will need to login using an existing OH/ID or create a new OH/ID which provides users with secure access to Ohio services and programs.  For more information on creating an OH/ID, visit ohid.ohio.gov/wps/portal/gov/ohid/home .  Check first with your CPA, as you may already have one.

 

 

We will work diligently to answer general inquiries via our website if time permits and in a little more detail within our Newsletters. However, if your questions are detailed in nature, please request to set up a conference call for a formal legal consultation. Thank you.

DISCLOSURE

Collier & Associates, Inc. provides this information as a service to clients and other friends for educational purposes only. It should not be construed or relied on as legal advice or to create a lawyer-client relationship. Readers should not act on this information without seeking advice from professional advisors.

Talk to Collier & Associates Today

(216) 765-1199

Stay Connected

LEARN MORE ABOUT OUR UPCOMING SEMINARS

Rockport, ME – Aggressive Business, Tax & Practice Mgmt. Seminar
WHEN: Sept. 20-22, 2024
WHERE: Samoset Resort On The Ocean
Monterey, CA – Retired Doctors Seminar
WHEN: Nov. 8-9, 2024
WHERE: Monterey Plaza Hotel & Spa