Relief efforts continue to roll on in the buckeye state for businesses impacted by the COVID-19 pandemic. Four grant programs have been announced for small and medium-sized businesses in Ohio. In total, the grants will provide $155 million in funding to businesses that meet certain criteria.
Ohio Governor Mike DeWine outlined the programs in a recent press conference where he also explained that the funds will be coming from the Ohio General Assembly and will be administered by the Ohio Development Services agency as a result of two Senate Bills that he signed into law in May 2021.
The grants include the Entertainment Venue Grant, which will be available to music venues, theaters, museums, sports venues that host spectators and other entertainment venues. Grants will be available in the amounts of $10,000, $20,000 or $30,000 and the amount given to a respective business will be determined based on loss of revenue during 2020. Overall, $20 million has been earmarked for this grant.
Hotels, motels and bed and breakfasts will also be awarded grant money. The Lodging Grant will be available in the same increments as the Entertainment Venue Grant and the money awarded to the business will be based on decline in their occupancy rate for 2020. Total funds here add up to $25 million.
It is not secret that restaurants, bars and other food and drink establishments suffered during the pandemic. The Food and Beverage Establishment Grant is designed for them. Again, same grant increments in play here and how much each business gets will be determined based on loss of revenue in 2020. The funding here is no small amount, with $100 million available in those $10,000, $20,000 or $30,000 increments.
The New Small Business Grant is designed for those who started a new venture during the height of the pandemic. Only one grant increment t is available here, for $10,000 and Ohio will be working with $10 million overall to serve those who started operations between January 1, 2020.
No matter which grants you apply for, it is important to note that these will be awarded on a first come, first-served basis. So, there is simply no time to waste. Applications open on Tuesday June 29, 2021.
You can learn more about the application process by visiting this website: www.BusinessHelp.Ohio.Gov. Here, you can read more about each grant and start to take the proper steps to gather the documentation needed to submit your application.
Please reach out to H&M with any questions you may have. We would be happy to assist you.