The Lorain County Board of Commissioners has created a $1.5-million-dollar Small Business Stimulus program that has been designed to assist small businesses in Lorain County that have been negatively impacted or have faced hardship due to the Covid-19 Pandemic and its related effects on the economy.
Donor Name: Lorain County
State: Ohio
County: Lorain County (OH)
Type of Grant: Grant
Deadline (mm/dd/yyyy): 05/27/2022
Grant Size: $20,000
Details:
Funding Information
The funds will be distributed as a grant as checks of $5,000, $10,000, $15,000 or $20,000.
Eligibility Criteria
To be eligible to receive grant funds from this account, a small business must meet the following qualifications:
- Must have 50 or fewer employees
- Business address must be within Lorain County, whether it be an: office, warehouse, retail space, restaurant, or home-based business
- Must not have exceeded $2 million in annual gross revenue in 2021
- Must be registered with the Ohio Secretary of State
- Must have a copy of a 2021 Business Federal Tax Return
Ineligible businesses include:
- Franchises or “chain” restaurants with more than three (3) locations, storefronts, etc.
- Vice or adult businesses such as: liquor stores, gambling houses, arcades, tobacco/vape/cigar shops, sexually oriented businesses
- Multi-level marketing operations
- Professional Services such as: Real Estate, Law, or Accounting Firms
- Banks, Credit Unions, Payday Lenders
For more information, visit Lorain County.
