As of 10:00 AM EST on Monday, November 2, Ohio’s application for small business COVID-19 relief programs and home relief grants are now open, with two ways Ohio companies can benefit, as well as a relief program targeting Ohio households.
Small Business Relief Grant
The first potential benefit is through the Small Business Relief Grant, a $125 million program that offers a relief grant of up to $10,000 per business to Ohio companies that have been negatively impacted by the COVID-19 pandemic. Eligible businesses include for-profit entities with locations in Ohio that have no more than 25 Ohio employees as of January 1, 2020. In addition, the businesses must earn at least 90% of their annual revenue from activities performed in and taxable to Ohio.
Bar and Restaurant Assistance Fund
The second measure is the Bar and Restaurant Assistance Fund, which sets aside a total of $38.7 million to aid businesses that have been limited from the full use of their liquor licenses due to pandemic safety restrictions.
The program is designed to help an estimated 15,000 liquor license holders in Ohio, and it applies to roughly 30 permit types, including bars, restaurants, breweries, distilleries, wineries, casinos, and private clubs.
To be eligible for the program, permit holders need to have had an active on-premise permit as of close-of-business on October 23, 2020. The business does not have to be currently open but must have an active liquor license. Licensees who apply and who are approved will receive $2,500 per unique business location.
Home Relief Grant
A third measure, called the Home Relief Grant, is designed to help Ohio households with annual income at or below 200% of the federal poverty guidelines. For a family of four, that is an annual income up to $52,400. These households will be eligible for assistance paying outstanding rent, mortgage, and water and/or sewer utilities to avoid shutoff, foreclosure, or eviction. Ohioans who meet the guidelines can apply through local Community Action Agencies. For more details on the Home Relief Grant and application requirements as well as a list of Community Action Agencies, visit this page on Ohio’s website.
Barnes Dennig’s COVID-19 Advisory Team is helping businesses and organizations with a wide range of issues and questions related to the CARES Act, including tax implications, PPP loan forgiveness questions, and year-end tax planning strategies. Contact us today to talk about how we can help you make the most of your opportunities.