Economic help for Local Businesses and Individuals
Updated May 27, 2020
Ohio Department of Job and Family Services Unemployment Benefits Resource Hub
Small Business Administration’s (SBA) Economic Injury Disaster Loan Program
- Paycheck Protection Program – This loan program provides loan forgiveness for retaining employees by temporarily expanding the traditional SBA 7(a) loan program. – Learn More
- SBA Express Bridge Loans – Enables small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly. – Learn More
- SBA Debt Relief – The SBA is providing a financial reprieve to small businesses during the COVID-19 pandemic. – Learn More
Office of Small Business Relief
The Ohio Development Services Agency Office of Small Business Relief (OSBR) was established to identify and provide support to Ohio’s small businesses that need assistance during the COVID-19 pandemic crisis, and create opportunities for a strong comeback.
To learn more about their mission and resources for economic support, go to https://businesshelp.ohio.gov/.
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. Under SharedWork Ohio, eligible employers will reduce the affected employees weekly work hours by 10 to 50 percent. Participating employees will work the reduced schedule, and the Ohio Dept of Jobs and Family Services (ODJFS) will pay them a prorated unemployment benefit.
For more information checkout: http://jfs.ohio.gov/ouio/SharedWorkOhio/
Cincinnati’s regional economic development partner has prepared a list of resources for businesses responding to the challenges of COVID-19. You can find the resource list on their website: https://redicincinnati.com/covid-19-resources
HCDC, formerly Hamilton County Development Corporation, helps build businesses and promote job creation through business incubation, business lending, and economic development services. They have created a COVID-19 Business Resource Guide that includes links to Federal, State and County resources plus a guide to free collaboration tools for businesses on their website: https://hcdc.com/.
Hamilton County Commissioners are utilizing $5 Million in Federal CARES Act funds to help small businesses in Hamilton County impacted by the COVID-19 pandemic. The Hamilton County Small Business Relief Program aims to help those small businesses with less than $1Million in gross revenue with between two to 50 employees that have not already received federal assistance. You can find more information about this program by following this link: https://hcdc.com/hamilton-county-small-business-relief-program-to-launch-next-week/
Support Local Ohio
Ohio businesses may list their business on this Support Local Ohio website. Residents can search the database for online shopping that features unique Ohio businesses, carry-out options from favorite local businesses, and locate virtual attractions and activities from Ohio museums, libraries, and destinations.
Cincinnati USA Regional Chamber
The Cincinnati USA Regional Chamber is providing a COVID-19 Business Center page on their website, dedicated to providing the latest updates to businesses and residents.