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ARCHIVE

3/1/2020

1 Comment

 
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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:

  • Fully vaccinated people no longer need to wear a mask outdoors, except in certain crowded settings and venues.
  • Clarification that fully vaccinated workers no longer need to be restricted from work following an exposure as long as they are asymptomatic.
  • Fully vaccinated residents of non-healthcare congregate settings no longer need to quarantine following a known exposure.
  • Fully vaccinated asymptomatic people without an exposure may be exempted from routine screening testing, if feasible.
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.
  • All SBA disaster loans made in calendar year 2020, including COVID-19 EIDL, will have a first payment due date extended from 12-months to 24-months from the date of the note.
  • All SBA disaster loans made in calendar year 2021, including COVID-19 EIDL, will have a first payment due date extended from 12-months to 18-months from the date of the note.      Learn More
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.​
VACCINE RESOURCES​
  • Vaccine Considerations for Employers
  • Vaccine FAQs
  • ​Developing a Vaccine Strategy
  • ​Elements of a Vaccine Strategy
  • How Employers Should Talk About the COVID-19 Vaccine
  • ​​Vaccine Employer Survey Report
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:
  • Wedding receptions, funeral repasts, proms, and other events, whether or not food is served, at banquet facilities shall comply with previously signed health orders, including those regarding restaurants and facial coverings.
  • Events at banquet centers no longer have a 300-person limitation, so long as they comply with other health orders.

Governor DeWine also announced updates for Sports & Entertainment Venues, including: 
  • The maximum number of spectators in any indoor sports venue shall be 25% of fixed, seated capacity.
  • The maximum number of spectators permitted in any outdoor sports venue shall be 30% of fixed, seated capacity.
  • The maximum number of patrons permitted in any indoor entertainment venue shall be 25% of fixed, seated capacity.
  • The maximum number of patrons gathered in any outdoor entertainment venue shall be 30% fixed, seated capacity.​
PAYCHECK PROTECTION PROGRAM UPDATES
View FAQs about the Paycheck Protection Program
February 22:
 President Joe Biden announced updates to the Paycheck Protection Program, including:
  • A 14-day period, starting 2/24, during which only businesses with fewer than 20 employees can apply
  • Revision to loan calculation formula to offer more support to sole proprietors, independent contractors & self-employed individuals
  • Eliminate an exclusionary restriction that prevents small business owners with prior non-fraud felony convictions from obtaining relief
  • Eliminate an exclusionary restriction that prevents small business owners who are delinquent on their federal student loans from obtaining relief
  • Issuing clear guidance that otherwise eligible non-citizen small business owners who are lawful U.S. residents cannot be denied access to the PPP because they use ITINs to pay their taxes
PPP INFORMATION
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:
  • Operations Expenses: payments for business software, cloud computing services & other HR/accounting needs that facilitate business operations
  • Supplier Costs: payments to a supplier for goods that are essential to the operations of the borrower pursuant to a contract or purchase order in effect before the PPP loan is disbursed or with respect to perishable goods, in effect at any time
  • Worker Protection Expenses: operating/capital expenditures to comply with public health guidance related to COVID-19, including things like drive-through windows and sneeze guards and the purchase of personal protective equipment (PPE)
  • Covered Property Damage Costs: costs related to property damage/looting due to public disturbances in 2020 that are not covered by insurance or other compensation. 

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

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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:
  • Each store will be required to post a sign outlining face-covering requirements at all public entrances to the store;
  • Each store will be responsible for ensuring that customers and employees are wearing masks; and
  • A new Retail Compliance Unit, comprised of agents led by the Ohio Bureau of Workers’ Compensation, will inspect to ensure compliance. A first violation will result in a written warning and a second violation will result in closure of the store for up to 24 hours.
Additionally, Governor DeWine expanded the mass gathering limit of gatherings of 10 or more, adding the following guidelines:
  • Open congregate areas will no longer be permitted to open
  • Everyone will be required to be seated and masked unless they are actively consuming food or drinks.
  • Bars, restaurants, and fitness centers may remain open, but this will be reassessed on November 19 for potential closure. 
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

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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:
  • $50 million for rental, mortgage, water and/or sewer utility assistance: Starting November 2nd, Ohioans at/below 200% of the federal poverty level can apply at their local Community Action Agency     More Information
  • $125 million for small business relief: The Ohio Development Services Agency will establish the Small Business Relief Program to provide funds to eligible small businesses with 25 employees or less      Download PDF 
  • $37.5 million for bars and restaurants: Checks in the amount of $2,500 will be distributed to establishments with on-premise consumption      More Information 
  • $62 million for rural and critical access hospitals: Funding will allow hospitals to continue responding to the COVID-19 crisis, providing care and addressing increased costs for safety measures, including the purchase of PPE
  • $100 million for higher education: These dollars will be used for critical services, including COVID-19 testing on campuses and mental health services
  • $45 million for non-profits and the arts: Non-profits provide many important services to Ohioans and these dollars will help them continue their good work. Many arts organizations have also been hit hard and these dollars will help

1 Comment
Business news link
11/18/2022 07:19:47 am

Irresistible! Thank you so much for this kind and good service.your services is better than better.

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