The Ohio Development Services Agency has created two new grant programs to help small businesses recover from the impact of the COVID-19 pandemic. These programs are targeted to help small businesses that have disproportionately been affected by closures, or have pivoted to help end shortages of protective medical gear. The two grants are funded by federal CARES Act stimulus funds.
JobsOhio, Peoples Bank and First Federal/Home Savings Bank announced a partnership to support existing small business clients with maintaining operations and payroll during the COVID-19 pandemic. JobsOhio has committed up to $50 million to assist Peoples Bank and recently merged First Federal Bank and Home Savings Bank. The program provides additional financing on favorable terms for local Ohio business customers in good standing that would otherwise not be able to access this credit on such terms due to the COVID-19 crisis.
COVID-19 is impacting your business, and we are here to help. Our Business Advisory experts are empathetic and diverse problem solvers that are here to assist where you need it most.
Topics: ohio, Business Advisory, workplace productivity, Management, 2020, Workplace Culture, Coronavirus, Stay at Home Order, COVID-19, Loan, SBA, Small Business Administration, Small Businesses, Businesses, CARES Act
On March 18th, the Federal government passed the Families First Coronavirus Response Act (FFCCRA). Within the law, Emergency Paid Sick Leave (E-PSL) and Emergency FMLA (E-FMLA) provisions created paid leave for qualifying employees. These provisions went into effect on April 1st.
Topics: ohio, Human Resources, workplace productivity, Management, 2020, Workplace Culture, Coronavirus, Stay at Home Order, COVID-19, Loan, Small Business Administration, Small Businesses, Businesses, FFCRA
Last night, the Senate passed an updated version of the Coronavirus Aid, Relief and Economic Security (CARES) Act. The bill builds upon earlier versions of the CARES Act and includes an employee retention credit for employers that close or partially close due to the coronavirus pandemic. Eligible employers are allowed a credit against employment taxes equal to 50% of qualified wages (up to $10,000 in wages) for each employee.