The Lorain County Board of Commissioners are providing small business relief grants of up to $5,000 to Lorain County businesses that have not previously received assistance. An initial funding of $500,000 will be used to capitalize the program.
To be eligible for the grant, the businesses must meet the following criteria:
Gross Revenue of $1 mill or less
Have been in business before March 1, 2020
Have 15 or less employees
Operate at a business or storefront location
While the program is designed to assist businesses that have not received other direct financial assistance from the Federal, State or local governments, applications will be accepted and reviewed from those businesses that are otherwise eligible and assistance received was less than $5,000.
The intent of the program is to assist small local businesses that have not been able to access PPP funding or other assistance and have been impacted by the COVID 19 pandemic orders.
Businesses that are ineligible for assistance are: home-based businesses, and the following sectors: (i) gas stations; (ii) smoke / vape shops; (iii) adult orientated business, internet café or gambling parlor; (iv) professional services business (law or accounting firm; realty); (vi) any business that is a sole-proprietorship without any employees. National and regional chains and franchises are not eligible.
Applications will be accepted until all funds are awarded
Initial awards will be announced Wednesday, October 21 and continue at each Board meeting until all funds are awarded.