Funds aimed to help small business hit by pandemic The Champaign Economic Partnership (CEP) and Champaign County Commissioners are announcing a 2nd round of CARES Act funds to Champaign County small businesses impacted by the Coronavirus pandemic. Businesses could be awarded up to $10,000 if approved for the grant. Businesses that have received approval from the 1st round of the CARES Act Grant administered by the CEP will not be eligible for the 2nd grant. “Over 50 local small businesses applied for the 1st round of CARES Act funds and after discussion with the Champaign County Commissioners, we decided to offer another application period to assist other eligible businesses," CEP Economic Development Director Marcia Bailey said. “Our local economy has been negatively impacted with the Coronavirus and our small businesses are some of the hardest hit,” said Bailey. “These funds are an expense reimbursement grant and will help get the businesses through this difficult time." To qualify for the grant program, businesses must:
Businesses that have received funding for expenses arising from the pandemic cannot submit the same expenses for reimbursement under the CARES Grant for Champaign County Small Businesses. “We are so appreciative of our small businesses and although there is great uncertainty, Champaign County is hopeful that businesses receiving these grant funds will successfully persevere through the COVID-19 pandemic,” Bailey added. Applications and grant guidelines are available at www.champaignworks.com/CARESGrantChampaignCounty beginning November 24, 2020. Application deadline is December 1, 2020 at 5:00 pm. Due to the short application period, we recommend you apply as soon as possible. In order to assist you, please send your questions to info@cepohio.com. Businesses are also encouraged to visit https://businesshelp.ohio.gov for additional assistance. Governor DeWine announced CARES Act funding through the State of Ohio for small business and others that have been impacted financially by the pandemic.
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Recently, Ohio Governor Mike DeWine and Lt. Governor Jon Husted announced that the administration, in partnership with the General Assembly, developed a package of more than $419.5 million CARES Act funding to help Ohioans.
The package includes $125 million in CARES Act funding to provide grants to small businesses with no more than 25 employees. The grant funding will help businesses pay 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. Each business that meets the criteria and submits a complete application will be eligible for a grant of $10,000 in accordance with the following guidelines:
Applications and grant guidelines are available here: www.champaignworks.com/CARESGrantChampaignCounty Application deadline is November 13, 2020 at 5:00 pm. Due to the short application period, we recommend you apply as soon as possible. In order to assist you, please send your questions to info@cepohio.com. Businesses are also encouraged to visit https://businesshelp.ohio.gov for additional assistance. Governor DeWine announced CARES Act funding through the State of Ohio for small business and others that have been impacted financially by the pandemic Funds aimed to help small business hit by pandemic
To qualify for the grant program, businesses must:
Businesses that have received funding for expenses arising from the pandemic cannot submit the same expenses for reimbursement under the CARES Grant for Champaign County Small Businesses. “We are so appreciative of our small businesses and although there is great uncertainty, Champaign County is hopeful that businesses receiving these grant funds will successfully persevere through the COVID-19 pandemic.” Bailey said. Applications and grant guidelines are available here: www.champaignworks.com/CARESGrantChampaignCounty beginning October 30, 2020. Application deadline is November 13, 2020 at 5:00 pm. Due to the short application period, we recommend you apply as soon as possible. In order to assist you, please send your questions to info@cepohio.com. Businesses are also encouraged to visit https://businesshelp.ohio.gov for additional assistance. Governor DeWine announced CARES Act funding through the State of Ohio for small business and others that have been impacted financially by the pandemic Small businesses in Champaign County have a new source of financial assistance to help them reopen and recover from the pandemic -- the COVID-19 Champaign County Small Business Emergency Grant Fund.
The Champaign Economic Partnership (CEP) established the local grant program with the support of the Champaign County Board of Commissioners, which allocated a portion of local tax dollars generated for economic development through conveyance fees collected on Champaign County real estate sales. “We are very thankful to the Champaign County Commissioners for funding this important initiative,” Kyle Hall, president of the CEP Board of Trustees, said. “The COVID-19 grant fund can really make a difference in our county. It will help small businesses bridge the gap in revenue during the shutdown and help them meet safety requirements for reopening, so that consumers will return to them with confidence.” Through 5 p.m. May 15, qualifying local businesses may complete and submit a simple application for $500 to $2,500 in grant funds, at www.champaignworks.com/PayItForwardGrant. Businesses may submit their applications directly from the website. But if they prefer, they may print out the application form, complete it, and drop it in the Champaign Economic Partnership mailbox (next to the CEP office door, inside the ATM lobby of Security National Bank, 3 Monument Square, Urbana), or email their completed, scanned application to the CEP at info@cepohio.com, by the 5 p.m. May 15 deadline. “The commissioners want to support the health and vitality of the Champaign County business community during the pandemic,” said County Commissioner Steve Hess, who serves on the CEP Board of Trustees. “Through this grant fund we want to help our local businesses get through this crisis by supplementing the support they’re getting from the state and federal government.” To be eligible for the grant program, commercial or retail businesses must have a storefront in Champaign County (cannot be home-based or nonprofit), have fewer than 50 employees, be current on local, state and federal obligations such as taxes and assessments, been impacted by the COVID-19 pandemic, and, if a franchise, have no more than two storefronts in the county and not be corporate owned. CEP Director Marcia Bailey said the grants may be used for operating expenses such as rent, utilities, payroll, and the cost of supplies and modifications needed to comply with safety requirements for reopening. Grant money cannot be used for taxes or other assessments. Grant recipients will be required to report to the grant committee how they spent the money. “Our grant committee desires to make this a self-perpetuating fund so that money will be available to support future economic sustainability in our community,” Bailey said. “Through the Pay It Forward provision of the program, we will encourage grant recipients to contribute financially to the Champaign County Small Business Grant Fund once their businesses are back on their feet – in an amount equal to or greater than their grant.” She added, “Our small businesses are essential to the vitality of Champaign County. We want to do what we can to help get them back on track, to continue providing jobs and valuable products and services that make our county a better place to live and work.” For grant guidelines and the application, visit www.champaignworks.com/PayItForwardGrant. Governor DeWine announced beginning May 1, 2020, Ohio will begin a phased-in reopening of the state economy.
Below are some resources that the Champaign County Chamber of Commerce shared this week.
The new rules have been clarified for self-employed individuals, self-proprietors and partnerships to be eligible to apply for the PPP Federal Loan. Click below to download and read the new Eligibility Criteria and Requirements. ![]()
Below are a trio of helpful PowerPoint presentations. The presentations are used by the Springfield Small Business Development Center, which serves Champaign County, to help figure out available loans and grants for small businesses. ![]()
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Below is the information presented in a webinar by the U.S. Chamber of Commerce on The Paycheck Protection Program and Other CARES Act Assistance for Businesses. ![]()
#WeAreAllinThisTogether
Thank you to all our local businesses for completing our Business Impact Survey. This information (Business Impact Survey Results) will be used to begin gathering the various resources that you will need to reopen and recover. We certainly appreciate all of our businesses and what you bring to our community. We will do whatever we can to assist you now and into the future. It is recommended you contact your local banks/financial institutions first for potential loan assistance. (Click here for a complete list of area SBA lenders.) They have been able to approve some applications and have others that are pending approval. There are a variety of programs that you may qualify for to get you back to recovery. (These are also listed on this COVID-19 Relief PowerPoint presentation.) And explained further on this Dayton Development Coalition SBA webinar link: https://dialpad.com/shared/call/WfzXD4cBYdVcrHDjNCqP92qw47MfUNMPpzO6v7r4w2Mf
Remember, another local source of information and assistance in completing these applications is the Springfield SBA which serves Champaign County: www.springfieldsbdc.com On April 7th, Governor DeWine announced the creation of the Office of Small Business Relief to identify ways to provide support to Ohio's small businesses. This office will be housed within the Ohio Development Services Agency. The Office of Small Business Relief (OSBR) is focused on identifying and providing direct support to the state's nearly 950,000 small businesses to help during the current public health crisis and to position them for a span rebound. https://businesshelp.ohio.gov Additional tips for businesses from our local lending institutions:
The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses. Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.
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U.S. Treasury Department
Office of Public Affairs Press Release: March 31, 2020 Contact: Treasury Public Affairs, (202) 622-2960 With $349 Billion in Emergency Small Business Capital Cleared, Treasury and SBA Begin Unprecedented Public-Private Mobilization Effort to Distribute Funds WASHINGTON – Following President Trump’s signing of the historic Coronavirus Aid, Relief, and Economic Security (CARES) Act, SBA Administrator Jovita Carranza and Treasury Secretary Steven T. Mnuchin today announced that the SBA and Treasury Department have initiated a robust mobilization effort of banks and other lending institutions to provide small businesses with the capital they need. The CARES Act establishes a new $349 billion Paycheck Protection Program. The Program will provide much-needed relief to millions of small businesses so they can sustain their businesses and keep their workers employed. “This legislation provides small business job retention loans to provide eight weeks of payroll and certain overhead to keep workers employed,” said Secretary Mnuchin. “Treasury and the Small Business Administration expect to have this program up and running by April 3rd so that businesses can go to a participating SBA 7(a) lender, bank, or credit union, apply for a loan, and be approved on the same day. The loans will be forgiven as long as the funds are used to keep employees on the payroll and for certain other expenses.” “This unprecedented public-private partnership is going to assist small businesses with accessing capital quickly. Our goal is to position lenders as the single point-of-contact for small businesses – the application, loan processing, and disbursement of funds will all be administered at the community level,” said Administrator Carranza. “Speed is the operative word; applications for the emergency capital can begin as early as this week, with lenders using their own systems and processes to make these loans. We remain committed to supporting our nation’s more than 30 million small businesses and their employees, so that they can continue to be the fuel for our nation’s economic engine.” The new loan program will help small businesses with their payroll and other business operating expenses. It will provide critical capital to businesses without collateral requirements, personal guarantees, or SBA fees – all with a 100% guarantee from SBA. All loan payments will be deferred for six months. Most importantly, the SBA will forgive the portion of the loan proceeds that are used to cover the first eight weeks of payroll costs, rent, utilities, and mortgage interest. The Paycheck Protection Program is specifically designed to help small businesses keep their workforce employed. Visit SBA.gov/Coronavirus for more information on the Paycheck Protection Program.
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