• This page is dedicated to providing businesses with the most up-to-date information and resources regarding COVID-19 and the business community.  Please Contact Dan Bates, President/CEO, via cell # (267) 249-9649 with any questions. Find information from the State of Ohio at: coronavirus.ohio.gov


  • Important Contact information:

    State of Ohio: coronavirus.ohio.gov or 1-833-4-ASK-ODH

    Find your local HEALTH Department 

    SBA programs for the coronavirus, www.sba.gov/coronavirus 

    Federal programs, visit www.usa.gov/coronavirus or www.gobierno.usa.gov/espanol (en Español).

    Employers and Job Seekers:
    State of Ohio https://jobsearch.ohio.gov/wps/portal/gov/jobsearch/home
    Butler County - OhioMeans Jobs | Butler County ohiomeansjobs.com/butler

     FEMA with questions/concernsFema-nrcc-nbeoc@fema.dhs.gov

  • Explore Hamilton Promotion

    The Greater Hamilton Chamber is promoting all bars, restaurants, retail, gift & specialty shops, service industry businesses and Arts, parks & recreation at www.hamilton-ohio.com/explore-hamilton.  If your business would like to be listed on that page, please complete the Business Promotion Form HERE!


  • SBA Loans & Funding Opportunities​

  • PPP Loan Forgiveness: A Step-By-Step Video Explanation
    The U.S. Chamber released a new video which provides a step-by-step explanation of the Payment Protection Program (PPP) loan forgiveness process.
    In the video, U.S. Chamber executive vice president and chief policy officer Neil Bradley walks you through the essential steps of the loan forgiveness process, including calculations and repayment terms. We hope that the guidance shared in this video serves as a helpful resource for you and your members. Check out the video below.
    PPP Loan Forgiveness: A Step-By-Step Explainer with Q&A


  • PPP Loan Forgiveness Application Released
    5/18/20 – Emir Hodzic

    The Small Business Administration (SBA) released its long anticipated Paycheck Protection Program (PPP) Loan Forgiveness Application on May 15th. The application, along with the press release from the SBA and instructions on completing the application, can be found here.  



  • PPP Loan Forgiveness Application

    Below is the link to the new PPP Loan forgiveness Application.  PPP recipients will need to submit this form and additional documentation with their PPP lender. Individual banks may require additional specific information based on their policies or interpretation of SBA/Treasury guidance:


  • PPP Loan Forgiveness Application
    VonLehman CPA & Advisory Firm
    2020 covid19 tax updates



    Details Released: PPP Loan Forgiveness Application

    The Small Business Administration (SBA) released its long anticipated Paycheck Protection Program (PPP) Loan Forgiveness Application on May 15th. The application, along with the press release from the SBA and instructions on completing the application, can be found here.

    Over the coming weeks, lenders participating in the program will focus on adapting their systems to match the application requirements and borrowers will have some of their long standing questions answered. However, as has been the ongoing trend with the program the SBA promises more guidance and regulation is still to come “soon.”

    Continue reading below for key takeaways from the Application, as well as answers to important questions.

    Details here

    If you have not yet applied for the Payroll Protection Program, do it now with your financial partner. Monies are still available! 
    In addition, there is a proposal bill by the House to expand the 8 week spending stipulation for PPP to up to 24 weeks! 
    Finally, the 75% payroll requirement is also likely to change-stay tuned for updates on these potential changes currently being considered.
    We are also being told that PPP's under $2 million will not be audited or asked for a breakdown of which approved category the monies were used for. 
    We are being told that this will be treated as approved forgiveness with a broad stroke for all loans under that $2 million amount. 
    EIDL is also still available, but only for farm and agriculture. Again, if you have not yet applied, money is still available for this specific category. 

  • Business Loans

    Payroll news: IRS denies payroll deductions for forgiven Paycheck Protection loans

  • PPP Updates as of 5/9/2020

    This week’s news on the Paycheck Protection Program front: Getting your loan forgiven no 
    longer depends on your employees coming back to work. The Treasury Department and
    U.S. Small Business Administration released new guidance this week stating that business
    owners who make a written offer to employees for the same position at the same salary
    will not be penalized if the employees refuse to come back.

    That’s big news for business owners across the country who had been waiting for more
    guidance on exactly how to get their loans forgiven. Inc. brought together Neil Bradley,
    executive vice president and chief policy officer of the U.S. Chamber of Commerce, as
    well as a panel of business experts for Inc.’s exclusive National Small Business Town Hall
    Friday to dig into what the new guidance really means. Plus, they discussed the potential
    for additional relief and when it might arrive. 

    To find out more: 

    Watch the full webinar: What You Need to Know About Changes Coming to PPP Loans: The Latest

    Read a quick summary of our experts’ best advice: How to Get Your PPP Loan Forgiven,
    When to Give it Back, and What's Coming Next

    More Answers to Key Questions
    Don’t have time to watch the full video? We broke it down into clips on some of
    the most important topics: 

    For more clips and ongoing coverage, check out our full Stimulus Q&A resource center.

    -Graham Winfrey
    Senior editor, Inc.

  • Main Street Lending Program

    The Federal Reserve has announced that it is establishing a Main Street Lending Program (Program) to support lending to small and medium-sized businesses that were in sound financial condition before the onset of the COVID-19 pandemic. Attached are the current details. More specifics to follow so, get your information ready for your financial partner so you can apply as soon as the portal opens.


  • PPP Loan Repayment Deadline Extended

    5/7/20 – Emir Hodzic

    The Small Business Administration (SBA) has extended the repayment deadline for Paycheck Protection Program (PPP) borrowers that wish to take advantage of the “good faith” self-certification of eligibility option. The deadline is now automatically extended from May 7, 2020, to May 14, 2020.

    Along with the deadline extension, the SBA (in its FAQ) also committed to issuing additional guidance on what they will be looking for when reviewing the needs certification. This additional guidance will provide us with more clarity on the issue and give businesses time to make an evaluation of whether or not they should take advantage of the safe harbor deadline of May 14, 2020 and return the loan.

    Companies that repay their loans by that date preempt the possibility of criminal liability if they’re subsequently found ineligible for PPP loans. The loans are intended to help small businesses with fewer than 500 employees weather the novel coronavirus (COVID-19) pandemic, but some large and publically held companies have applied for and received funds.

    Extended safe harbor

    In April 2020, the U.S. Treasury and the SBA issued frequently asked questions (FAQs) on PPP loans. One question asks whether businesses owned by large companies with adequate sources of liquidity to support their ongoing operations qualify for PPP loans.

    The SBA explained that — in addition to reviewing applicable affiliation rules to determine eligibility — all borrowers must evaluate their economic need for a loan under the standards in effect at the time of the loan application. The standards are set by the Coronavirus Aid, Relief and Economic Security (CARES) Act, which established the PPP, as well as subsequent regulations.

    Among other things, borrowers must certify that their PPP loan request is necessary. Specifically, they must certify that “current economic uncertainty” makes the loan necessary to support ongoing operations. The certification must be made in good faith, taking into account the borrower’s current business activity and ability to access other sources of liquidity in a way that’s not “significantly detrimental” to the business.

    The FAQs originally provided that any borrower that applied for a loan prior to April 24, 2020, and repays the funds in full by May 7, 2020, would be deemed by the SBA to have made the certification in good faith. As of May 5, 2020, though, the FAQs have been revised to reflect an extension of this safe harbor to May 14, 2020. The extension will be automatically implemented, with no need for borrowers to apply.

    Potential criminal liability

    Companies that don’t take advantage of the safe harbor and are later found ineligible for the PPP could face criminal liability, according to Treasury Secretary Steven Mnuchin. The loan application notes that making a false statement to obtain a guaranteed loan from the SBA is punishable by imprisonment of up to five years and/or a fine of up to $250,000.

    A borrower that falsely self-certified also could be subject to criminal or civil liability under the False Claims Act (FCA). The FCA permits treble damages, or triple the amount of the government’s actual damages, as well as civil penalties, imprisonment up to five years and a fine up to $250,000 for criminal liability.

    While the thought of criminal liability may scare many businesses, we want to continue to reiterate that the intent of the legislation was to maintain employees and payroll during this crisis. We believe that most privately held, small businesses, will not have many issues and are not the target. However, public scrutiny of the use of these funds is real, but don’t be afraid of it as long as you use the loan for its intended purpose. 

    Your Questions, Answered.

    VonLehman experts have compiled a COVID-19 Resource Center to keep you up-to-date with breaking developments. Here, you can find resources to help you navigate these difficult times. For any questions related to this article, contact Emir Hodzic at ehodzic@vlcpa.com or 800.887.0437.

  • Verizon Small Business Recovery Fund

    Information about the Verizon Small Business Recovery Fund: https://www.lisc.org/covid-19/small-business-assistance/small-business-relief-grants/verizon-small-business-recovery-fund/


  • PPP Developments: SBA Clarifies Loan Forgiveness Surrounding Rehiring Employees

    5/5/20 – Emir Hodzic

    The Small Business Administration (SBA) provided an update on the second round of funding, as of May 1, 2020. The results can be found here. The rate of funding has certainly slowed compared to the first round, and the average loan size is reported to be just $79,000, which is significantly lower than the first round average of $206,000. This indicates the focus of the second round is meeting its intended target. Community and smaller banks with assets under $10 billion accounted for nearly $56 billion in approved dollars.

    The SBA also released additional FAQ’s on May 3, 2020. In particular, Question #40 provides some relief to businesses who have been concerned with their ability to rehire employees and reach levels of previous headcount to achieve maximum loan forgiveness. Many employees may not be in a position to return to work due to ongoing safety concerns, childcare obligations, or because they are in industries which have not received government clearance to continue operations. The SBA and Treasury intend to issue an interim final rule excluding laid-off employees whom the borrower offered to rehire, at the same salary or wages and same number of hours, from the loan forgiveness reduction calculation.

    We expect the interim final rule will provide additional information on how to document the rehire attempts, however, the FAQ points to a written offer of rehire, made in good faith to the employee. The employee’s rejection of that offer must be documented by the borrower. While these procedures will help borrowers with the forgiveness reduction calculations involving FTE counts, borrowers are still expected to spend 75% of their loan proceeds on payroll cost.

    Many questions remain as to the PPP use of funds and forgiveness considerations. We expect the SBA and the Treasury to continue to issue more information in the coming days. In particular, the eight-week period, which started when a borrower was funded their loan amount, is troubling for many businesses who are not yet able to operate. The American Institute of Certified Public Accountants (AICPA) has recommended to the SBA and Congress that the eight-week covered period should start when operating restrictions are lifted, rather than the date loan proceeds are received, which would help the businesses most impacted by the COVID 19 crisis.  

    VonLehman experts have compiled a COVID-19 Resource Center to keep you up-to-date with breaking developments. Here, you can find numerous resources, specific to your industry, to help you navigate these difficult times. For any questions related to this article, contact Emir Hodzic at ehodzic@vlcpa.com or 800.887.0437.

  • SBA Economic Injury Disaster Loans

    *Due to reports of overwhelming response to EIDL applications, funding for this program may be unavailable at this time.

    As of March 30th: 

    • The SBA has updated their EIDL loan portal and now reflects language related to the $10,000 loan advance/grant. The prior SBA disaster website (disasterloan.sba.gov) will now forward users to the following website:https://covid19relief.sba.gov/#/
    • Economic Injury Disaster Loans and Loan Advance (EIDL)
      To apply for a COVID-19 Economic Injury Disaster Loan, click here

      In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid. https://covid19relief.sba.gov/#/


    If you have suffered substantial economic injury and are one of the following types of businesses located in a declared disaster area, you may be eligible for an SBA Economic Injury Disaster Loan (EIDL):

    • Small Business
    • Small agricultural cooperative
    • Most private nonprofit organizations
    Loan Amounts and Use
    Substantial economic injury means the business is unable to meet its obligations and to pay its ordinary and necessary operating expenses. EIDLs provide the necessary working capital to help small businesses survive until normal operations resume after a disaster.

    The SBA can provide up to $2 million to help meet financial obligations and operating expenses that could have been met had the disaster not occurred. Your loan amount will be based on your actual economic injury and your company's financial needs, regardless of whether the business suffered any property damage.

    Eligibility and Terms

    A business may qualify for both an EIDL and a physical disaster loan. The maximum combined loan amount is $2 million.

    How to Apply:  https://disasterloan.sba.gov/ela/

    You must submit the completed loan application and a signed and dated IRS Form 4506-T giving permission for the IRS to provide SBA your tax return information.

    For additional information, please contact the SBA disaster assistance customer service center. Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail disastercustomerservice@sba.gov.
  • Round 2 of PPP is here, and you’ll have 48 hours - here’s what you need to know
    By: Doug Buchanan
     – Editor in chief, Columbus Business First

    Now that Congress has passed a second round of funding for small businesses impacted by the coronavirus pandemic, the rush is on to qualify for assistance – and there’s no time to waste.

    Columbus Business First, a Business Courier sister outlet, convened a panel Thursday to discuss the Paycheck Protection Program and get advice for how businesses shut out in the first round can have better success with the funding being released through the U.S. Small Business Administration as soon as this weekend.

    Here are five key takeaways you need to know (you can watch the full conversation in the video with this story):

    Round 2 of PPP won’t last long

    The first round of forgivable loans through the PPP sent $342.3 billion to about 1.6 million businesses nationwide, which critics point out was a small slice of the estimated 30 million small businesses operating in the United States.

    Launched April 2, the initial funding was gone in about 14 days. The second round of PPP has $310 billion available and could be tapped out within 48 hours, said Mark Seymour, vice president of lending and risk for Gahanna-based Kemba Financial Credit Union.

    That’s primarily because applications already are queued up at financial institutions nationwide itching for the next window to open.

    “We're already set up. So I've already got the pipeline,” Seymour said. “I started the last time without a pipeline. So now we've got a pipeline and we've scrubbed it so we're ready.

    "Our ability to effectuate that over into the SBA and getting the approvals is going to be much quicker – and it'll be that way across the country.”


    Have everything you need ready to go

    With banks overwhelmed by the onslaught of businesses wanting to get into the program, it’s triage for the staff trying to get applications in order. The worse thing you can do, our panelists said, is not be ready with everything on the checklist, because that effectively would send you to the back of the line.

    “If your financial institution asks you for a set number of documents, get them,” said Jenny Saunders, president of FCBank in Worthington. “Don't try to piecemeal them to us. Don't try to just give parts of it because then we have to wait and put it aside. We can't even validate the information. We certainly can't input it. Then we go to the next one.”


    If you didn’t get approved in Round 1, think hard about starting over

    Building off the last point, you want to keep your place in line. Even if you were unsuccessful in the first round of PPP funding, it might make it worse to try to start over with a new bank, said Gene Logan, shareholder with accounting firm Schneider Downs in Columbus.

    “One of the questions we're dealing with right now – I've got this probably half a dozen times in the last day – is 'OK, we thought we did really good, getting in line, getting everything organized for our bank in round one, and through no fault of our own, we got shut out,' ” he said. “ 'Now that Round 2 is coming up, what do we do? Do we play the course or do we try to switch horses?' My advice is you still stay with that relationship, but really lock them down that they're going to take care of you this time because I really have trouble saying go somewhere else, somewhere new.”


    Remember that relationships matter

    One of the issues many potential borrowers have had so far is inconsistent communication from their banks. Saunders and Seymour said their employees have been trying to stay in touch with all their customers.

    But it’s been difficult considering the workload, they said, so it behooves borrowers to fall back on established relationships and lines of communication to see where they stand. It helps, they said, if applicants had in-person relationships with the bankers at their institution.

    “We've been so busy trying to clean up files and everything that it honestly just got kind of shoved to the side because we're just trying to get ourselves ready to execute,” Seymour said. “We were calling folks Sunday, and they were delighted to get the call, trust me. But it was a long weekend, and I'm afraid we're probably up against another one.”

    Seymour estimated that Kemba has roughly four times the number of applications backlogged than it had in the first round, something he estimates is not uncommon at financial institutions of all stripes.

    “I do think this is a two- or three-day run at this money again,” he said. “I don't think it's enough. Based on the small percentage of actual small businesses by definition that are out there, I have a hard time believing that even 80% of them are in good shape and don't need this money or wouldn't want this money. And we didn't even get close to 20% penetration nationally.”

    Understand that bankers are overwhelmed

    Which brings us to this point: Banks are simply not staffed to deal with this level of loan volume in such a short period of time.

    It’s similar to the struggles seen at Ohio’s unemployment compensation system, which has boosted its call center staff from 42 workers to 1,200 – and is still not able to handle the volume of calls it’s been getting as nearly 1 million newly out-of-work Ohioans have flooded the system over the past month.

    “I mean, it's just, it's a frenzy,” Saunders said. “So I think it talks a bit about how much we needed that and how much customers and small businesses really needed that relief given everything that was going on.


    "But I also think it created a lot of anxiety and pain points for folks to get in, right? When you think about the sheer volume of people that wanted to talk to someone about this, and then the number of bankers that financial institutions had stacked against that, the severe capacity shortage, there was just no way we were going to be able to handle that and that's where you saw a lot of the pain points as well.

    “I have never in my entire career – and I hate to admit how long that has been – but we made it through 9/11. We made it through Y2K. And we made it through 2007-2008. And I have never experienced anything like what we've been through in this pandemic.”



  • SBA will be re-opening the PPP on Monday, April 27th @ 10:30am

    Check out the pre-recorded webinar about uses and forgiveness with PPP:  https://youtu.be/nqUJ2krNsLI 

    Here is the new information that has been released:

    SBA/Treasury Releases Additional PPP Guidance - How to Calculate Maximum Loan Amounts - by Business Type >

    SBA releases Procedural Notice on Participation Sales of PPP Loans >

    SBA/Treasury publishes 4 new FAQ >

    Housing stipends; principal residence in US; Ag producer, farmer, rancher eligibility 


    SBA releases new Interim Final Rule:

    Business Loan Program Temporary Changes; Paycheck Protection Program Requirements – Promissory Notes, Authorizations, Affiliation, and Eligibility >

  • Small-Business Grants for Companies Hit by Covid-19

    Here are the grant programs that could help keep your business afloat during the coronavirus crisis.

    By Gabrielle BienaszEditorial intern, Inc.com@gbienasz

    Note: This post will be continually updated as additional resources become available.

    Keeping track of all the relief programs for companies that are struggling due to the coronavirus crisis can feel like a full-time job. While portions of the Economic Injury Disaster Loan (EIDL) program and Payroll Protection Program (PPP) loans can be forgiven and converted to grants, there are also plenty of other small-business grants available for entrepreneurs, some of which are provided by state and local governments.

    Here is a list of states, cities, counties, and corporations providing grants for small businesses.

    General Grants

    • Facebook is committing to supporting 10,000 U.S. small businesses with a $40 million fund. The fund is available in 34 locations.
    • In partnership with Verizon, the digital fundraising and advocacy platform Hello Alice is offering emergency grants of up to $10,000 for companies impacted by the coronavirus pandemic. 
    • Google is offering $340 million in advertising grants for small- and medium-size businesses, a credit that will be added automatically to Google Ads accounts. 
    • Verizon has allocated $5 million to the Local Initiatives Support Corporation to distribute via grants to small businesses. The first round of grant applications is closed but will reopen in mid-April, and you can register to be notified on their website. 
    • GoFundMe has partnered with Intuit QuickBooks, Yelp, GoDaddy, and Bill.com to give small businesses a $500 grant if they raise at least $500 on GoFundMe. 

    State Grants 

    • The Council for Community and Economic Research (C2ER) website features a state tracker of financial incentive programs across the country, updated twice a year.
    • Illinois' Department of Commerce is providing businesses not located within the Chicago area, through the Downstate Small Business Stabilization Program, grants of 60 days of working capital up to $25,000. This is available for businesses that employ 50 people or fewer.
    • Texas AssistHER Emergency Relief Grant, administered by the Texas Woman's University,  provides Texas-based women-owned businesses $10,000 to navigate coronavirus-related hardship.
    • The Texas Black Expo is offering micro-grants of $1,000 to 100 entrepreneurs who have been in business for two years, are currently open, and are experiencing coronavirus-related hardship.
    • Virginia entrepreneur Pete Synder is offering emergency funding for businesses that employ three to 30 people and have been operating for at least a year. You are not required to pay back the "loan" unless you would like to later "pay it forward" to another Virginia-area business to whom the funds will then be disbursed.
    • Wisconsin's Small Business 20/20 program provides existing loan clients of the state's 22 Community Development Financial Institutions with grants up to $20,000. The $5 million fund is available for qualifying businesses with fewer than 20 employees for rent, payroll, and pandemic-related employee leave. 

    City Grants 

    County Grants

    • Montgomery County, Maryland, set aside over $20 million in loans and grants for nonprofits and small businesses. 
    • Duane County, Wisconsin, businesses struggling with Covid-19 can apply for grants of $1,000 to $50,000. Applications are due June 15.
    • Shawnee County, Kansas, via GO Topeka, is offering grants up to $5,000 for small businesses that face coronavirus-related hardship, and particularly affected industries like restaurants and retail
    • Businesses in certain Kentucky counties can apply grants of up to $3,000 from The College of Agriculture, Food and Environment, in particular restaurant or "experience retail" businesses.

    Industry-Specific Grants

    Identity-Based Grants

    Funding Trackers

  • House passes $484 billion bill

    The House overwhelmingly passed a $484 billion spending package Thursday as the unemployment crisis deepened, a stark illustration of how policymakers continue trying to rescue an unraveling economy amid growing despair.
    The legislation, approved 388-5, would restart a small-business loan program that was swamped by demand and allocate more money for health-care providers and virus testing. The vote was historic, as many lawmakers wore masks on the House floor, some even speaking through face coverings as they delivered impassioned remarks.

    Read more......

  • Loan Forgiveness Challenges & Guidance for Self-Employed

    In an interview on Sunday, treasury Secretary Mnuchin stated that he expects a deal to be done within Congress for another $300 billion into to the program which he believes will be enough funds to meet the demand. Many businesses were not able to apply and obtain SBA approval before the funding ran out on Thursday. In particular, self-employed individuals, many of whom report income on a Schedule C, were not even allowed to apply prior to April 10th, giving banks only 4 days, including Easter weekend, to field requests.  If additional funding is approved, self-employed individuals should plan ahead to make sure their applications are quickly processed. 

    Read on for next steps, guidance, and stipulations.

    continue reading...
  • Main Street Lending Program vs. Payroll Protection Program

    As of April 30th updates READ MORE......

    The Federal Reserve announced a $600 billion lending initiative (part of the $2.3 trillion stimulus package) that will be referred to as the “Main Street Lending Program” or “MSLP”. In this article, our experts address some frequently asked questions regarding MSLP and how it differs from the PPP loan program.

    Further details for obtaining, completing and/or submitting applications for loans under the Main Street Program have not been released, but we will inform you as soon as we have details.

    continue reading...

  • SBA PPP Update: State and Industry Breakdown for $349 Billion To-Date

    The Small Business Administration released its latest report on the highly subscribed Paycheck Protection Program or PPP. Approvals through 4/13/2020 account for over $247 billion at an average of $239,152 per loan going to small businesses (defined as under 500 employees with exceptions for certain industries). Through Thursday morning, additional reports show that the allocated funding of $349 billion has been completely exhausted and looming doubt persists over whether or not Secretary Mnuchin will be able to deliver on additional funding from Congress.


    continue reading...
  • COVID-19 HR & Business Updates

    ICRC TV: COVID -19 HR & Business Updates show on youtube. Here’s the link.  https://www.youtube.com/watch?v=rycKrhGcFMo

    Pandy Pridemore, Principal Consultant

  • Details of the latest ‘interim’ COVID-19 response package

    Below are the details of the latest COVID-19 response package, according to our sources. Approval seems to expected (Thursday).

    This round of Payroll Protection funds will go fast. According to my sources, SBA Disaster and EIDL are included. You can apply for EIDL yourself, look for instructions on our Covid-19 page. Regarding Payroll Protections Program, get with your financial institution and make sure your application is ready to upload. If you missed the last cut-off, we are hearing that you don't need to reapply-just make sure your financial institution has everything they need from you to be at the top of the priority list! If you did not apply in the last round, do it now. We believe this funding will be depleted soon after it is made available, maybe even within minutes!

    Additional $310 billion for the Paycheck Protection Program

    • $250 billion is a direct ‘plus-up’ to PPP
    • $60 billion is set-aside for community banks
    • $30 billion for loans made by Insured Depository Institutions and Credit Unions that have assets between $10 billion and $50 billion; and
    • $30 billion for loans made by Community Financial Institutions, Small Insured Depository Institutions, and Credit Unions with assets less than $10 billion

    Additional $60 billion for SBA Disaster Loan Program

    • $50 Billion for the SBA EIDL Loan Program
    • $10 billion for the Emergency EIDL Grant/Advance; up to $10,000

    Additional $75 billion for reimbursement to hospitals and healthcare providers

    $25 billion for necessary expenses to research, develop, validate, manufacture, purchase, administer, and expand capacity for COVID-19 tests

  • Paycheck Protection Program


    The bill slated for Congressional action this week is designed to provide additional funding for thePaycheck Protection Program, created in the CARES Act to help small businesses struggling from the economic impact of the pandemic. The program ran out of money within two weeks of its rollout. The bill sets aside approx. $310 billion in additional funding for the program.

    Attached are summaries of the legislation. Other key provisions of the bill include:

    ·         $50 billion for the Economic Injury Disaster Loan Program

    ·         $75 billion to health care facilities

    ·         $25 billion to fund additional COVID-19 testing ($11 billion of that is for the states)

     Regarding assistance to small businesses, the following programs are available. Visit the SBA's Local Assistance Directory to find contact information for the district, regional and field offices in your area. If you or businesses in your community have questions regarding the above mentioned funding opportunities or need assistance in the application process, please reach out to Corey Bentine at cbentine@amppartners.org or 614.204.8500, or Alexis Fitzsimmons at afitzsimmons@amppartners.org or 614.359.3472.


    SBA Program


    How to Apply



    Paycheck Protection Program

    Provides a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest or utilities.

    Apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union or Farm Credit System institution that is participating. Consult with your local lender as to whether it is participating in the program.



    SBA Debt Relief

    Automatically pays the principal, interest and fees of current and new 7(a), 504 and microloans for a period of six months.


    Will occur automatically.

    Economic Injury Disaster Loan Emergency Advance

    Provides up to $10,000 of economic relief to businesses experiencing temporary difficulties. This loan advance will not have to be repaid.

    Apply here. Funds will be made available within days of a successful application.


    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.

    Apply through SBA Express Lenders that business has an existing* banking relationship.

    *on or before March 12, 2020

  • PPP not an option? Main Street Lending Program could be next best bet

    By Sarah Shadburne – Reporter, Louisville Business First

    The Main Street Lending Program is the federal government’s latest installment of relief loans for businesses impacted by the coronavirus outbreak.

    This program seeks to support mid-to-upper-market businesses that may not have qualified for Paycheck Protection Program loans. The new program offers $600 billion of low interest, four-year loans for businesses with up to 10,000 employees or with revenues of $2.5 billion or less for 2019.

    READ MORE....

  • Congress readies more PPP funding for small businesses. Here's what you need to know

    The SBA Paycheck Protection Program is set to get more funding from Congress, but there are still more questions swirling around the program's details. We get into the weeds to answer your questions.

    By Andy Medici – Senior Staff Reporter, Washington Business Journal

    Apr 21, 2020, 2:18pm EDT Updated an hour ago Congress seems poised to pass hundreds of billions of dollars in fresh funding for the Small Business Administration's Paycheck Protection Program after the original $349 billion dried up April 16, within two weeks of accepting its first application.

    But even with supplemental funding for the forgivable loan program, it likely will remain a first-come, first-serve prospect. So, what should small businesses do? We reached out to experts from across the lending industry to weigh in on the most commonly asked questions regarding the sought-after program.

    READ MORE.....

  • SBA Paycheck Protection Program 

    U.S. Small Business Administration Report as of 4/13/2020

  • Davidson Named to White House Task Force


    Davidson Named to Presidential Task Force to Re-Open the Economy



    TROY, OH—Today President Donald Trump named Congressman Warren Davidson (R-OH) to the Presidential task force to re-open the American economy.

    The purpose of this bipartisan committee is to set criteria to methodically reopen the U.S. economy and begin the much-needed economic recovery.

    Congressman Davidson brings over 15 years of experience owning and operating manufacturing businesses to this committee. As a successful small business owner, he understands the unique challenges and hardships the business community faces as a result of closures and cancellations related to the present public health crisis. Employers across the country are struggling to maintain payroll and operations as the economy remains locked down.

    Davidson sits on the prestigious House Financial Services Committee. He is a member of the subcommittee on Investor Protection, Entrepreneurship, and Capital Markets and also sits on the Task Force on Financial Technology.

    After the President announced his appointment, Congressman Davidson made the following statement:

    “I am excited and honored to join so many outstanding individuals to collaboratively address the economic crisis caused by the coronavirus pandemic. As a former business owner, who led manufacturing companies through the 2008 financial crisis, I understand the heavy burdens placed on entrepreneurs and their employees during such trying times. The novel coronavirus has stalled our economy and stifled economic growth, threatening the livelihoods and hard work of Americans across the country. I expect we will find safe and creative solutions that not only protect the health of Americans but also enable us to restart America’s economic engine.”



  • SBA Disaster Relief Loans Clarifications


    Click on link: https://disasterloan.sba.gov/ela/

    $10,000 EIDL Loan advance/grant  https://covid19relief.sba.gov/#/ 



    A new office has been developed within the Ohio Development Services Agency to better coordinate Ohio's efforts to identify and provide support for Ohio’s nearly 950,000 small businesses.

    The Office of Small Business Relief will:

    • Serve as the state’s designated agency for administrating federal recovery funds awarded to Ohio for small business support and recovery;

    • Work with federal, state, and local partners to evaluate and determine possible regulatory reforms that encourage employment and job creation; and

    • Coordinate efforts of Ohio’s Small Business Development Centers and Minority Business Assistance Centers.

    More information on all resources currently available to small businesses is available at coronavirus.ohio.gov/BusinessHelp.

  • Dave_Yost_Header

    March 31, 2020

    Dominic Binkley: 614-728-4127

    Don’t Let Thieves Snatch
    Your COVID-19 Stimulus Money

    (COLUMBUS, Ohio) — Attorney General Dave Yost today urged Ohioans to watch out for thieves as stimulus payments arrive from the federal government.

    “Thieves are drooling at the thought of getting their hands on your stimulus money,” Yost said. “Use these tips to send them home with nothing but the bitter taste of defeat.”

    Under the plan, the federal government will provide stimulus checks under these general guidelines (some exceptions apply):

    • $1,200 payment to individual taxpayers making under $75,000.
    • $2,400 payment for married couples filing jointly making under $150,000 combined.
    • An additional $500 per qualifying child under the age of 17.  

    Yost offered these tips to help Ohioans avoid scams related to the stimulus payments:

    • Know that you don’t have to sign up to get a stimulus payment. For most consumers, the IRS will use information from prior tax returns to calculate payment.
    • Don’t fall for scams claiming you need to pay money to receive your stimulus payment. The government will not ask for any upfront payment.
    • Watch out for anyone telling you they can get you an instant payment or speed up the process. Do not provide personal information or pay a “processing fee” to supposedly receive a quicker payment. According to the government, payments through direct deposit could go out in three weeks, but it may be longer, especially if you are expecting a paper check.
    • Don’t click on links or download attachments unless you have verified the source and know it is legitimate. Doing so could infect your devices with malicious software designed to steal your personal information or lock your computer until you pay a ransom.
    • The government will not call you asking for Social Security, credit card or bank account numbers. Also, do not disclose your PayPal information – no PayPal account is necessary to receive your stimulus payment. All payments will be through direct deposit to a bank account or paper check.
    • If you receive a stimulus check and it is for an odd amount of money (i.e. $1499.50) or if it states you need to verify the check online or over the phone, it’s a scam.
    • You should get a paper notice in the mail a couple weeks after your payment is sent, letting you know where it was sent and when. If you can’t locate the payment at that point, call the IRS at a legitimate phone number.

    For more information, consumers should visit the IRS website and other legitimate government agency websites and stay tuned for updates from reliable news sources.

    Consumers who suspect an unfair or deceptive sales practice should contact the Ohio Attorney General’s Office at www.OhioProtects.org or 800-282-0515.


  • BWC Board approves $1.6 billion dividend for Ohio employers
    We Are In This Together
    The Coronavirus Aid Relief and Economic Security (CARES) Act was passed on Friday, March 27th. The passage of this bill brings many benefits and resources to business owners and communities. It also brings a lot of questions. We want you to know that we are in this together. We are here to help and will do so in any way we can. We are staying up to date on all regulations and will relay them to you as we get them.
    Today we want to highlight some of the programs of the Act, and share the details that are available at this time. Please utilize these resources and share them with your team members and clients.
    Small Business Debt Relief Program
    This program will pay the monthly payments (including principal, interest and fees) on existing SBA 504, 7(a), Community Advantage, and Microloans that are current for a period of six months. Borrowers that qualify for this program will not need to do anything to take advantage of it as we will work with SBA to obtain payment. We do not know when these payments will start and if you can't make upcoming payments, please contact your lender. At this time we do not have details on the program beyond this at this time, but we expect to learn about regulations in the coming days and will post updates when they are available.
    Paycheck Protection Program
    This is a loan program that allows businesses to borrow up to 250% of their average monthly payroll. While this program was signed into law by the President, we are waiting for guidance from SBA on how the program will be offered. Use this Guide and Checklist to see if you are eligible. Check out these frequently asked questions about the program. This is not a program that HCDC Lending is able to facilitate, please contact your local lender for details on applying.
    Economic Injury Disaster Loan
    This program is still actively taking applications. The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
    If you applied for the SBA's Economic Injury Disaster Loan before 3/30/2020 and you want to receive your forgivable $10,000 loan advance, you must reapply at the SBA's newly launched portal. The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.
  • SBA PPP Information

    *Due to reports of overwhelming response to EIDL applications, funding for this program may be unavailable at this time.

    For detailed information on SBA programs for the coronavirus, please visit 
    www.sba.gov/coronavirus and for information on all federal programs, visit 
    www.usa.gov/coronavirus or www.gobierno.usa.gov/espanol (en Español).

    Click here for more 

  • CARES Act Implementation Begins

    We are now entering the implementation phase of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. One of the most important determiners of the success of the programs created under the bill in supporting American families and businesses will be the clarity around the rules of each of the programs and the ease with which employers can access them. At the Chamber, we are encouraging federal agencies to make the rules simple and easy to understand. This is especially important around programs like the Paycheck Protection Program, which will provide loans and grants to small businesses. The ability of banking institutions to quickly and easily provide these loans will depend on the clarity of the guidance they receive from federal agencies.

    Small businesses also can do their part by studying the various programs. The Chamber created guides to help walk business owners through the process. You can access the guides here. Before you start applying, make sure you know how these programs – especially the Paycheck Protection Program, the Employee Retention Tax Credit, and the Disaster loans interact with each other.

    - U.S. Chamber Executive Vice President and Chief Policy Officer Neil Bradley

    *Due to reports of overwhelming response to EIDL applications, funding for this program may be unavailable at this time.

  • The Ohio Manufacturing Alliance to Fight COVID-19 supports manufacturers in repurposing and retooling to make PPE to protect health care workers.

    As the coronavirus pandemic (COVID-19) has unfolded, health care providers have sought help to source Personal Protective Equipment (PPE) to enable health care workers to safely care for patients. At the same time, manufacturers have reached out to seek guidance on how they can retool or repurpose to contribute to the cause.

    Ohioans' actions are critical to "flattening the curve" and protecting our communities and health care workers. The situation is critical and urgent, and we are moving quickly.

    Download list of PPE

    Find out how your manufacturing company can play an important role in responding to the challenge of COVID-19.

  • Updates from Cincinnati Bell

    Cincinnati Bell is prepared to meet the needs of our customers and community during this unprecedented and challenging time. We are monitoring the ongoing status of the coronavirus (COVID-19) outbreak very closely.


    We are following the guidance provided by government and health agencies, and have taken a number of steps to prepare for, and prevent, the spread of this virus.


    We understand that you and your constituents may have questions about what steps Cincinnati Bell is taking to ensure our community members have ongoing access to broadband, voice, and other important services.


    We have created a special site for the community that provides important and regularly updated information about our business continuity efforts and safety measures that we’ve established.


    ·         https://www.cincinnatibell.com/special-pages/coronavirus

  • SBA disaster assistance for Ohio due to excessive rain and flooding

    *Due to reports of overwhelming response to EIDL applications, funding for this program may be unavailable at this time.

    The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations that April 29 is the filing deadline for federal economic injury disaster loans in Ohio as a result of excessive rain and flooding from Jan. 1, 2019 through Aug. 1, 2019.


    The loans are available in the following counties: Ashland, Butler, Clermont, Clinton, Coshocton, Delaware, Greene, Hamilton, Holmes, Knox, Licking, Montgomery, Morrow, Preble, Richland, and Warren in Ohio.


    Under this declaration, the SBA’s Economic Injury Disaster Loan program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster.  With the exception of aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers, or ranchers.


    The loans are for working capital and can be up to $2 million with interest rates of 3.74 percent for eligible small businesses and 2.75 percent for nonprofit organizations, and terms up to 30 years. 


    Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at DisasterLoan.sba.gov.


    Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to disastercustomerservice@sba.gov.  Loan applications can be downloaded from the SBA’s website at sba.gov.  Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. 


    Completed loan applications must be returned to SBA no later than April 29, 2020.

  • Updates from the U.S. Chamber

    As of April 2nd:

    -          UPDATED – Coronavirus Emergency Loans Small Business Guide and Checklist (Paycheck Protection Program)

    -          NEW - Guide to SBA’s Economic Injury Disaster Loans (EIDL) 

    -          NEW - Guide to the Employee Retention Tax Credit   


    Additionally, the U.S. Department of Treasury issued additional guidance Tuesday regarding the Paycheck Protection Program.  Links to the resources provided by Treasury can be found below, or on their webpage.


    -          A top-line overview of the program can be found here.

    -          If you’re a lender, more information can be found here.

    -          If you’re a borrower, more information can be found here.

    -          The application for borrowers can be found here.

    As of April 1st: 

    *Due to reports of overwhelming response to EIDL applications, funding for this program may be unavailable at this time.

    Guide to SBA's Economic Injury Disaster Loans - https://www.uschamber.com/report/guide-sbas-economic-injury-disaster-loans 

    Guide to the Employee Retention Tax Credit - https://www.uschamber.com/report/guide-the-employee-retention-tax-credit

    Guide to SBA's Economic Injury Disaster Loans - https://www.uschamber.com/report/guide-sbas-economic-injury-disaster-loans

  • Updates from HCDC as of April 1, 2020

    Late yesterday, more information came out about the Paycheck Protection Plan. Business owners please see the Borrowers Information Sheet for updated information. Lender information can be found by accessing the Lender Information Sheet.
    HCDC is working on compiling a list of lenders that are accepting PPP loan applications. Small businesses and sole proprietors can begin to apply on April 3rd and independent contractors and self employed individuals can apply April 10th through participating lending institutions.
    SBA Debt Relief Program
    The SBA Debt Relief Program gives immediate relief to borrowers with existing SBA 7(a) loans, 504 loans and microloans. For these existing borrowers, the SBA will cover all loan payments for the next six months. This includes principal, interest and fees.
    7A Info
    • The SBA will also pay the principal and interest of new 7(a) loans issued prior to September 27, 2020.
    • The SBA will pay the principal and interest of current 7(a) loans for a period of six months.
    Information on when the first payment will be made has not been released.
    504 Info
    The 504 Loan Program Central Servicing Agent (CSA) has released that they will NOT apply an ACH debit to the borrower’s account to cover the loan payments due on April 1, 2020 for all 504 loans in regular servicing status. Under the CARES Act, SBA will pay the principal, interest and any associated fees that are owed on a 504 loan in a regular servicing status to the CSA within 30 days of April 1. SBA will continue to make these loan payments to the CSA for the 6-month period beginning April 1, 2020.
    Economic Injury Disaster Loan Advance
    If you applied for the SBA's Economic Injury Disaster Loan before 3/30/2020 and you want to receive your forgivable $10,000 loan advance, you must reapply at the SBA's newly launched portal. The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.

    Updates from the U.S. Chamber of Commerce

    As of March 31, 2020

    U.S. Department of Treasury Releases Information on Paycheck Protection Program 
    Earlier today, the U.S. Department of Treasury shared new information regarding the 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. Please review the resources provided by the U.S. Department of Treasury below and visit their webpage for additional information.
    • A top-line overview of the program can be found here.
    • If you’re a lender, more information can be found here.
    • If you’re a borrower, more information can be found here.
    • The application for borrowers can be found here.
    Click Here to Learn More
    Financial Resources from the U.S. Chamber
    Coronavirus Loan Guide to Help Small Businesses
    As we shared last week, the U.S. Chamber has created a guide to help small businesses, independent contractors, gig economy workers and other qualifying individuals prepare to file for a coronavirus relief loan under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Our hope is that this guide will prove to be a valuable resource for you and your members as you begin to take the necessary steps towards accessing the fund to keep workers on the payroll during this disruptive period.
    NEW: The U.S. Chamber's Coronavirus Emergency Loans Small Business Guide and Checklist is also now available for download in Spanish by visiting here.
    In addition to the guide, we've compiled an interactive map to show the aid available on a state-by-state basis. To view the interactive map, please click here.
    Click Here to View and Download the Guide
    Additional Resources to Help Small Businesses Navigate the Coronavirus Pandemic
    In addition to the information shared by the U.S. Small Business Administration, we encourage you and your members to utilize and share those created by CO—, the U.S. Chamber's own interactive digital platform designed specifically for business owners and offering unparalleled assets and subject matter expertise from the U.S. Chamber.
    CO—has created a Coronavirus Small Business Guide to help you navigate the pandemic with new stories daily—including a detailed breakdown of federal stimulus aid programs, information about managing financial difficultieskeeping your team engagedsupporting and retaining your customers, and more.  
  • SBA and Treasury Begin Unprecedented Public-Private Mobilization Effort to Distribute Funds

    March 31, 2020


    WASHINGTON – Following President Trump’s signing of the historic Coronavirus Aid, Relief, and Economic Security (CARES) Act, SBA Administrator Jovita Carranza and Treasury Secretary Steven T. Mnuchin today announced that the SBA and Treasury Department have initiated a robust mobilization effort of banks and other lending institutions to provide small businesses with the capital they need.


    The CARES Act establishes a new $349 billion Paycheck Protection Program. The Program will provide much-needed relief to millions of small businesses so they can sustain their businesses and keep their workers employed.

    “This unprecedented public-private partnership is going to assist small businesses with accessing capital quickly. Our goal is to position lenders as the single point-of-contact for small businesses – the application, loan processing, and disbursement of funds will all be administered at the community level,” said Administrator Carranza. “Speed is the operative word; applications for the emergency capital can begin as early as this week, with lenders using their own systems and processes to make these loans. We remain committed to supporting our nation’s more than 30 million small businesses and their employees, so that they can continue to be the fuel for our nation’s economic engine.”


    “This legislation provides small business job retention loans to provide eight weeks of payroll and certain overhead to keep workers employed,” said Secretary Mnuchin. “Treasury and the Small Business Administration expect to have this program up and running by April 3rd so that businesses can go to a participating SBA 7(a) lender, bank, or credit union, apply for a loan, and be approved on the same day.  The loans will be forgiven as long as the funds are used to keep employees on the payroll and for certain other expenses.”

    The new loan program will help small businesses with their payroll and other business operating expenses. It will provide critical capital to businesses without collateral requirements, personal guarantees, or SBA fees – all with a 100% guarantee from SBA. All loan payments will be deferred for six months. Most importantly, the SBA will forgive the portion of the loan proceeds that are used to cover the first eight weeks of payroll costs, rent, utilities, and mortgage interest.

    The Paycheck Protection Program is specifically designed to help small businesses keep their workforce employed. Visit SBA.gov/Coronavirus for more information on the Paycheck Protection Program.


    ·       The new loan program will be available retroactive from Feb. 15, 2020, so employers can rehire their recently laid-off employees through June 30, 2020.


    Loan Terms & Conditions


    • Eligible businesses: All businesses, including non-profits, Veterans organizations, Tribal concerns, sole proprietorships, self-employed individuals, and independent contractors, with 500 or fewer employees, or no greater than the number of employees set by the SBA as the size standard for certain industries
    • Maximum loan amount up to $10 million
    • Loan forgiveness if proceeds used for payroll costs and other designated business operating expenses in the 8 weeks following the date of loan origination (due to likely high subscription, it is anticipated that not more than 25% of the forgiven amount may be for non-payroll costs)
    • All loans under this program will have the following identical features:
      • Interest rate of 0.5%
      • Maturity of 2 years
      • First payment deferred for six months
      • 100% guarantee by SBA
      • No collateral
      • No personal guarantees
      • No borrower or lender fees payable to SBA

    SBA’s announcement comes on the heels of a series of steps taken by the Agency since the President’s Emergency Declaration to expeditiously provide capital to financially distressed businesses affected by the Coronavirus (COVID-19) pandemic. Since March 17, SBA has taken the following steps:


    ·       Declared all states and territories eligible for Economic Injury Disaster Loan assistance

    ·       1-year deferment on Economic Injury Disaster Loans provided due to COVID-19

    ·       Automatic deferment of previous disaster loans for homeowners and businesses through 2020 

    ·       Waiver of garnishments through 2020

    *Due to reports of overwhelming response to EIDL applications, funding for this program may be unavailable at this time.


    Visit SBA.gov/Coronavirus for more information on SBA’s assistance to small businesses.

    PPP Lender Information Fact Sheet from US Treasury Dept

    PPP Overview from US Treasury Dept

    PPP Borrower Fact Sheet from US Treasury Dept

    Borrower Paycheck Protection Program Application from US Treasury Dept

  • Small Business Stimulus Q&A: Free Online Session Presented by EO Cincinnati

    The president’s new Coronavirus stimulus package is supposed to be ready for applications by the end of this week…are small business owners?  

    This event, offered by the Entrepreneur’s Organization of Cincinnati, provides small business owners access to a panel of experts from Von Lehman and Wood Lamping who will address:

    -       The details of the stimulus package, who is eligible and how it works
    -       How business owners may apply
    -       What to expect in the process  

    CLICK HERE to watch the session
    Courtesy of: Pomme Communications


  • Attention Businesses...The Small Business Owners Guide to the CARES ACT

    CLICK HERE for CARES ACT legislation

    Coronavirus Aid, Relief, and Economic Security Act (CARES Act) from the U.S. Chamber
    Yesterday, the U.S. House of Representatives voted to pass the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Having been signed into law shortly thereafter by President Trump, this critical legislation will provide emergency relief for American workers and businesses that have been impacted by the COVID-19 pandemic. 
    In response to the finalization of the bill, U.S. Chamber CEO Tom Donohue issued the following statement:
    "Today, our elected representatives came together in a powerful way to provide the much needed relief that American workers and businesses need and deserve during this unprecedented time. We applaud Congress and the administration for working together to enact the CARES Act on a strong, bipartisan basis. Securing these funds could make the difference between keeping a business up and running over the coming weeks or being forced to reduce salaries, lay off employees, or shutter businesses entirely. No family and no business should go bankrupt because of the financial hardships caused by the coronavirus.” 

  • Coronavirus Emergency Loans Small Business Guide and Checklist

    Congress has approved $350 billion in emergency loans for small businesses to help them keep workers employed. In fact, if small businesses maintain or later restore their payrolls, they may not have to repay some — or possibly any — of the loan. Here’s a guide and checklist from the U.S. Chamber of Commerce to help your small business through the process.

    Small Business Owner's Guide to the CARES Act 


  • SBA Loan Deferment 

    Businesses with existing SBA loan payments can apply for those to be deferred. For more information, click HERE.  For questions, contact Access Business Finance, Inc. at (513) 777-2225.

  • Coronavirus Aid, Relief, and Economic Security Act or “CARES Act” legislation
    We are facing an unprecedented crisis. In the best interest of the American people, we have effectively chosen to pump the brakes on our economy while we accelerate our public health response, significantly expand our testing capability, and develop a credible system of metrics to measure success in combating the coronavirus.  Unfortunately that means that businesses of all sizes -- small, medium, large -- are having to either shutter their doors or slow down their production and lay off workers through no fault of their own. In an attempt to mitigate the economic hardship caused by this crisis, I’ve worked with my colleagues on both sides of the aisle to put together the CARES Act to provide some relief to the millions of Americans who have made our country and our economy the strongest in the world. 
    The CARES Act includes a number of important provisions to help workers, families, employers, and health professionals during this crisis. Specifically, the bill:
    • Provides direct financial assistance to families in need, including $1,200 for individuals making less than $75,000 and $2,400 for couples making less than $150,000. Families with children will be eligible for an additional $500 per child;
    • Includes an large temporary expansion in unemployment insurance benefits by adding a $600 per week across-the-board payment increase through the end of July, providing an additional 13 weeks of benefits beyond what states typically allow, and expanding benefit eligibility to cover self-employed and independent contractors, government workers, and nonprofit employees;
    • Provides $350 billion in small business loans for companies with under 500 employees that effectively become grants if those loans are used to keep workers on payroll, make rent and mortgage payments, or pay utilities;
    • Includes $500 billion in immediate tax relief for businesses of all sizes, including provisions such as payroll tax deferral and the ability to immediately monetize tax losses;
    • Creates a new fund established through the Treasury Department and the Federal Reserve to provide loans and loan guarantees to businesses and industries that have been particularly affected by the current crisis, such as airlines, hotels, restaurants, and nonprofits;
    • Includes strong transparency and accountability safeguards for any company that accesses federal loans and creates a new federal inspector general to oversee these loans;
    • Includes $150 billion for health care providers to support the nation’s hospitals, doctors and nurses;
    • Provides $4.3 billion to support the CDC and state and local health departments as they identify every potential case;
    • Provides accelerated payment opportunities for hospitals supporting vulnerable populations like children’s hospitals, rural hospitals, and specialty cancer hospitals like Ohio State’s The James, to help them maintain cash flows while they voluntarily suspend elective procedures to conserve PPE for providers treating COVID-19 patients; and
    • Provides $150 billion to support states and local governments that are impacted by the coronavirus to ensure they can continue to provide basic services for their citizens, including roughly $4.5 billion to Ohio.
    Rob Portman, U.S. Senator

    Click here CARES Section by Section
    Click here Coronavirus Supplemental Appropriations Summary 
    Click here FINAL CARES Act
  • CARES Act

    Read the full Senate Bill in the link  https://www.politico.com/f/?id=00000171-1429-d270-a773-777f92a00000
    Chamber Applauds Senate Passage of CARES Act, Urges House to Act

    Chamber Executive Vice President and Chief Policy Officer Neil Bradley said the Chamber is keeping the pressure on to ensure that American businesses are able to stay open and keep their workers on the payroll. Importantly, the bill includes three bold provisions that the Chamber has been strongly advocating including:

    • $350 billion in loans for small businesses 
    • Delayed payroll tax payments to boost liquidity 
    • $500 billion in federally backed loans and loan guarantees for midsize and large businesses.

    A detailed summary of the legislation can be found here. Read the full bill text here

    Click here for a summary of the CARES Act

    Issue Summary: Congress has already passed two pieces of legislation providing over $100 billion of relief to the healthcare system and workers. The CARES (Coronavirus Aid, Relief and Economic Security) Act is the third phase of Congressional relief. Estimates put this total package around $2 trillion, which will address numerous areas of the economy affected by the COVID-19 outbreak. Details are still emerging as the legislation works through Congress. This document will be updated to reflect any new information that becomes available.

  • Ohio Bankers League - information about programs to help customers


    Governor DeWine and Lt. Governor Husted have been working with representatives from Ohio’s banking community.  These companies recognize the hardships that many Ohioans are facing, and they have committed to working through creative ways to help.  Ohioans can be confident that banks, both big and small, will be there for them as we all move through the crisis and are offering a number of measures to help customers. 

    Below is a link from the Ohio Bankers League that lays out some of these programs by specific banks and links to their programs.

    Ohio Bankers League:

    Ohio banks have publicly announced details of their customer assistance programs and measures:





    Click here to view the document: https://www.dol.gov/newsroom/releases/whd/whd20200324

  • Mark Your Calendar

  • Sustaining Sponsors