SBA Economic Injury Disaster Loan (EIDL) Program
The U.S. Small Business Administration provides low-interest disaster loans to businesses of all sizes, private non-profit organizations, homeowners, and renters. SBA disaster loans can be used to repair or replace the following items damaged or destroyed in a declared disaster: real estate, personal property, machinery and equipment, and inventory and business assets. Disaster loan applications can be completed online.
SBA COVID-19 Resources Guide
Provides extensive information regarding financial assistance programs currently available to small business owners financially impacted by COVID-19
Summit County COVID-19 Small Business Emergency Relief Grant Program
Funding will be available to businesses that have been negatively affected by coronavirus. The program, in partnership with the city of Akron and Jumpstart, provides $5,000 in grants to approved businesses.In order for your business to be eligible, you must be for-profit and employee between 3 to 25 people for a least 20 hours a week. At least half of those employees must live in Summit County.
Hebrew Free Loan Association (HFLA) Small Business Loans
New small business support effort has been announced by HFLA of Northeast Ohio and Burton D. Morgan Foundation. Loans of up to $5,000 are available to support small businesses during this uncertain time. They can be used to cover payroll, rent, and other expenses while business is slow (or nonexistent). To be eligible for these loans, business owners should have been in business for a minimum of 12 months and will need to meet with an HFLA business loan volunteer to discuss how COVID-19 has affected them, their plans for recovery, and to check in periodically for support.
Honeycomb Relief Loan Program
Community-sourced loans are available to small business owners who are financially impacted by COVID-19. Three loan options are available, with loans up to $50,000 with a 45-day payment free period and 6-month interest-only payment period. Businesses must have been in operation for at least one year and breakeven or profitable in 2019.
SharedWork Ohio is a voluntary layoff aversion program. It allows workers to remain employed and employers to retain trained staff during times of reduced business activity.
Paycheck Protection Program
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.
Paid Leave Relief
Treasury, IRS and Labor announce plan to implement Coronavirus-related paid leave for workers and tax credits for small and midsize businesses to swiftly recover the cost of providing Coronavirus-related leave.
The Ohio Department of Job and Family Services has developed a webpage with answers to common questions regarding COVID-19 and its impact on unemployment benefits.
Verizon Small Business Recovery Fund
LISC will use the Verizon funding to provide grants of up to $10,000 to businesses facing immediate financial pressure because of COVID-19—especially entrepreneurs of color, women-owned businesses and other enterprises in historically underserved communities who don’t have access to flexible, affordable capital.
Burton D. Morgan Foundation
Providing real-time news and resources regarding COVID-19 news and resources for Northeast Ohio small business.
COVID-19 Arts and Culture Nonprofit Resources
Curated list of resources for nonprofit, arts and culture resources developed and maintained by Arts Now
Greater Akron Chamber COVID-19 Resources Guide
Provides a regularly-updated timeline of local, state and federal events that small business owners must know including legislation and Governor orders.
Jumpstart Inc. COVID-19 Guide and Webinars
Includes information and links for funding for small businesses impacted by COVID-19 along with professional development webinars and training to keep you up to date during this time.
Ohio Stay at Home Order (Extended through May 1, 2020)
Ohio Department of Health Coronavirus Employer Portal
Summit County Public Health
CDC Coronavirus (COVID-19) Resource Page