SBA RESTAURANT REVITALIZATION FUND
April 27: The U.S. Small Business Administration announced registration for the Restaurant Revitalization Fund will begin this Friday, April 30th, at 9 AM. The application period will start on Monday, May 3rd at 12 PM and will remain open until funds are exhausted.
For the first 21 days that the program is open, SBA will prioritize funding applications from businesses owned and controlled by women, veterans, and socially and economically disadvantaged individuals. All eligible applicants are encouraged to submit applications as soon as the portal opens. Following the 21 days, all eligible applications will be funded on a first-come, first-served basis.
• Review Program Guidelines & Application Sample
• National Restaurant Association FAQs for RRF
• National Restaurant Association RRF Application Step-by-Step Guide
UPDATES ON MASKS & QUARANTINE
April 27: Governor Mike DeWine announced individuals who are fully-vaccinated do not need to quarantine after exposure to someone with COVID-19, unless they live and work in a nursing home, long-term care facility, or other congregate care setting where those individuals are subject to CDC or other industry guidance.
The CDC announced interim public health recommendations for fully vaccinated people, including:
TECHCRED APPLICATIONS OPEN APRIL 1
March 30: The Ohio TechCred program will begin accepting applications this Thursday, April 1. TechCred helps Ohioans learn new skills and helps employers build a stronger workforce with the skills needed in a technology-infused economy. Many of these trainings can be completed online!
These technology-focused credentials take a year or less to complete and prepare current and future employees for the technology jobs Ohio employers need. Learn More
SBA ANNOUNCES EIDL UPDATES
March 24: The U.S. Small Business Administration is increasing the maximum amount small businesses and non-profit organizations can borrow through its COVID-19 Economic Injury Disaster Loan (EIDL) program. Starting the week of April 6, 2021, the SBA is raising the loan limit for the COVID-19 EIDL program from 6-months of economic injury with a maximum loan amount of $150,000 to up to 24-months of economic injury with a maximum loan amount of $500,000.
Businesses that receive a loan amount subject to the existing limits currently don’t need to submit a request for an increase. SBA will reach out directly via email and provide more details about how businesses can request an increase closer to the April 6 implementation date. Learn More
The SBA also announced extended deferment periods for all disaster loans, including the COVID-19 Economic Injury Disaster Loan (EIDL) program, until 2022.
OHIO VACCINE PHASES 1E, 2C & 2D
March 16: Governor Mike DeWine announced vaccinations in Phases 1E and 2C are expected to begin on Friday, March 19. Phase 1E will include Ohioans with cancer, chronic kidney disease, chronic obstructive pulmonary disease, heart disease and obesity. Phase 2C will include Ohioans ages 40+
Phase 2D will begin on Monday, March 29 and will include all Ohioans ages 16+
View Ohio Vaccine Fact Sheet Central Vaccine Scheduler
Ohio Vaccine Eligibility List
To find a Vaccine Administration Location, click here.
UPDATE ON MASS GATHERINGS, SPORTS:
March 2: Governor Mike DeWine announced updates to the Mass Gathering guidelines in place by the Ohio Department of Health, including:
Governor DeWine also announced updates for Sports & Entertainment Venues, including:
PAYCHECK PROTECTION PROGRAM UPDATES
View FAQs about the Paycheck Protection Program
February 22: President Joe Biden announced updates to the Paycheck Protection Program, including:
SBA, in consultation with the U.S. Treasury Department, reopened the Paycheck Protection Program (PPP) for First Draw Loans the week of January 11, 2021.
SBA is currently accepting First Draw PPP loan applications from participating community financial institutions (CFIs) and lenders with under $1 billion in assets, which includes approximately 5,000 institutions, including community banks, credit unions, and farm credit institutions. Lender Match can help you find a participating lender. View PDF What are CDFIs & MDIs?
On Monday, January 19th, the portal opens for ALL first time applicants AND second-draw applicants. View PPP FAQs
First Time Applicant Overview First Time Application Form
Second Draw Overview Second Draw Application Form
Paycheck Protection Program
Regular business expenses paid for with past & future PPP loan proceeds will be tax deductible. This includes:
It is still the case that not more than 40% of the forgiven amount can be for non-payroll costs, which may limit how much of your loan can be forgiven. The brand new “Second Draw” program is for small businesses who have exhausted their initial PPP loan if you have less than 300 employees & have experienced a 25%+ reduction in gross receipts during any quarter in 2020 relative to the same quarter in 2019. Learn more about PPP loan forgiveness
Employee Retention Tax Credit
The new Employee Retention Tax Credit is 70% on $10,000 in wages per quarter (or a maximum $14,000 per employee through June 30th) for employers with less than 500 employees who who experienced a decline in gross receipts of more than 20% in a quarter compared to the same quarter in 2019. Employers can now also receive both the Employee Retention Tax Credit and a PPP loan, just not to cover the same payroll expenses. Learn More about the ERTC
Economic Injury Disaster Loans
Priority for the full amount of the $10,000 EIDL grant will be given to small businesses with less than 300 employees, located in low-income neighborhoods, who have experienced a 30% reduction in gross receipts during any 8-week period between March 2, and December 31, 2020 compared to a comparable 8-week period before March 2. If you meet this description and received a grant that is less than $10,000 you can re-apply to receive the difference.
DEWINE ISSUES NEW MASK MANDATE
November 11: Governor Mike DeWine announced a new mask order with the following additions:
BWC APPROVES $5 BILLION DIVIDEND
November 2: The Ohio Bureau of Workers' Compensation (BWC) approved Governor Mike DeWine’s request to send $5 billion in dividends to Ohio employers to ease COVID-19’s continued impact on the state’s business community & workforce.
BWC will apply the dividend to an employer’s unpaid balances first, then send a check for the remainder in mid-December. The agency issued a $1.54 billion dividend in late April and $1.34 billion in October. View FAQs
OHIO CARES ACT CORONAVIRUS RELIEF FUNDS
October 23: Governor Mike DeWine announced the allocation of $429.5 million in CARES Act funds across the State of Ohio and was approved by the General Assembly and the Controlling Board on Monday, October 26th: