$125 Million Grant Program Will Help Ohio Small Business
Last week, Ohio Governor Mike DeWine and Lt. Governor Jon Husted announced a $125 million grant program to help small businesses that have been harmed by the effects of COVID-19.
The grants will provide $10,000 to small businesses in Ohio with no more than 25 employees. The program will be administered by the Ohio Development Services Agency.
Eligible businesses that are approved to receive grants can use the money for a variety of expenses, including mortgage or rent payments; utility payments; salaries, wages, or compensation for employees and contractors; business supplies or equipment; and other costs.
To ensure the grants are spread throughout the state, $500,000 will be set aside for businesses in each of Ohio’s 88 counties. As businesses in each county are approved for funding, the $10,000 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 do not deplete the county’s allocation within 21 days after the application period opens, the remaining funds will become available to businesses statewide.
“Small businesses and their employees are an important part of the fabric of life in Ohio, and these funds will help sustain them now so they are with us for years to come,” said Lydia Mihalik, Director of the Development Services Agency.
The application opens November 2..