Minority Business Assistance Center July 7, 2020 | Issue 63
Ohio Small Businesses Now Eligible For SBA Economic Injury Disaster Loans
Thanks to a concerted effort by the state of Ohio and the U.S. Small Business Administration Ohio small businesses are now eligible for SBA's Economic Injury Disaster Loans. Please see below for more information:
Low-interest loans of up to $2 million are available for small businesses and private non-profits.
Loans may be used to pay fixed debts, payroll, accounts payable and other bills and have repayment options of up to 30 years.
Interest rates are 3.75% for small businesses and 2.75% for private non-profits.
Small Business Return Safely (Personal Protective Equipment) Grants
GRANTS to assist existing small businesses in securing PPEs and/or making necessary COVID-19 health/safety improvements required to re-open their businesses. This is a 1:1 grant match program with a maximum matching grant of $5000.
KIVA: Small Business Development Center at Columbus State Community College
Kiva is a character-based, community-backed lender providing funding opportunities for entrepreneurs who do not fit into the box of traditional conventional financing. Kiva loans are 0% interest, up to $10,000. For info,
Franklin County COVID-19 Business Technical Assistance
Franklin County Quick Strike Fund for Minority and Women-owned Small Businesses – Columbus Urban League’s Resiliency Focus Project (“RFP”)
Provide clients with access to counseling; technical assistance and information regarding available financial products specifically targeted for small businesses owned by minorities and small businesses.
Listen to Part 2 of CPA Donald Wells' discussion with Beth Short, representative from the Ohio Attorney General Charitable Law Section regarding the Attorney General's responsibility to donors in the State of Ohio, and free resources available to Nonprofit Organizations through the Attorney General's office.