This article was updated on March 23, 2020. Updates to this article will be made as new information becomes available.
CORONAVIRUS SMALL BUSINESS FINANCIAL RELIEF OPTIONS - OHIO
Schneider Downs continues to track the evolving landscape of financial programs offered to small businesses disrupted by the coronavirus pandemic (“COVID-19”). The following are some of the many resources available for impacted small businesses in Ohio due to the COVID-19 pandemic. Schneider Downs can assist your organization with any of these programs.
Ohio Bureau of Workers’ Compensation
The Ohio Bureau of Workers’ Compensation will defer business premiums for March, April and May 2020. While payments are deferred until June 1, 2020, the state could reassess before then.
Coronavirus and Unemployment Insurance Benefits
FAQs from the Ohio Department of Job and Family Services can be found here:
The Columbus Foundation has activated its Emergency Response Fund. The fund assists nonprofits who are responding to COVID-19 and experiencing financial challenges as a result of that response. Nonprofits can apply at the following website:
Ohio Department of Commerce – One-Time Liquor Buyback
Bars and restaurants can return unopened, high-proof liquor products (obtained within the past 30 days) to the agency where they purchased the product and this is also available to those with temporary (F2) permits for events scheduled between March 12 and April 6, 2020. Instructions can be found here:
The Coronavirus Financial Bridge Loan Program provides unsecured cash loans up to $100,000 to U.S. Citizens nationwide. To review the program and start the pre-approval process, please visit the link below.
For the next 60 days, AT&T and Verizon will not terminate the service and will waive any late payment fees of any wireless, home phone or broadband residential or small business customers because of their inability to pay their bill due to COVID-19.
If you need assistance with any of these programs, please reach out to any of your contacts at Schneider Downs or contact Dan Phillips ([email protected]) or Joel Rosenthal ([email protected]) directly.
You’ve heard our thoughts… We’d like to hear yours
The Schneider Downs Our Thoughts On blog exists to create a dialogue on issues that are important to organizations and individuals. While we enjoy sharing our ideas and insights, we’re especially interested in what you may have to say. If you have a question or a comment about this article – or any article from the Our Thoughts On blog – we hope you’ll share it with us. After all, a dialogue is an exchange of ideas, and we’d like to hear from you. Email us at [email protected].
Material discussed is meant for informational purposes only, and it is not to be construed as investment, tax, or legal advice. Please note that individual situations can vary. Therefore, this information should be relied upon when coordinated with individual professional advice.