LongSchaefer’s response to COVID-19

The New $125 Million Grant Fund for Small Businesses in Ohio

Carpenter with team standing in background small business concept

In late October 2020, Gov. Mike DeWine and legislative leaders announced a new program called the Small Business Relief Grant (SBRG). Ohio has up to $125 million to give to small businesses affected by the COVID-19 pandemic. Today’s blog from LongSchaefer highlights the basics of this program.

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Who is eligible to receive SBRG funding?

Small businesses with between one and 25 employees will be able to receive grants of up to $10,000.

Bars or restaurants with an on-premise liquor license may receive a $2,500 grant from the Bar and Restaurant Assistance Fund. This fund applies to the more than 15,000 liquor permit holders in Ohio, including restaurants, bars, breweries, distilleries, wineries, casinos, and private clubs.

When can my small business apply for a grant?

Small businesses can start applying for SBRG funding at 10 a.m. on Nov. 2, 2020. Applications will be accepted until the end of the year. LongSchaefer can advise you on how to fill out the application properly to ensure you receive this grant in a timely manner.

What documentation must I show for the application?

Small business owners must show proof of all paid W-2 employees on the payroll as of Jan. 1, 2020. You must also show proof of business expenses from at least 60 days before the grant application period. You’ll also need your most recently filed state or federal tax return. 

Liquor permit holders must show they must have one of 30 active liquor licenses and an on-premise permit as of the close of business on Oct. 23, 2020. 

These resources must be in digital format instead of paper. LongSchaefer can help you gather the information you need. 

Where can I find more information?

The Ohio Development Services Agency website has all of the information you need for the SBRG. There is a dedicated page this link for liquor permit holders.

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Business Services From LongSchaefer

The tax and accounting pros at LongSchaefer can help you apply for Ohio’s SBRG funding to help your small business succeed during these challenging times. Contact us or call (513) 245-0300 for assistance.

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May 2020 COVID-19 Update

In order to comply with the Ohio Health Department Order & CDC social distancing recommendations, our offices are closed until further notice. Rest assured that our established protocols and available technology will allow us to provide the same level of service and quality you expect from LongSchaefer during this time.

The SBA has announced details of how it’s helping small businesses through the Coronavirus outbreak. The IRS is sending payments to families affected by this crisis. 

Please click on our Coronavirus information pages for more information.