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__________________________________________________________________________________ INCLUDEPICTURE "" \* MERGEFORMATINET SUMMARY OF ECONOMIC RESOURCES FOR BUSINESSESClick for contact information for local financial institutions who can help with SBA LoansOhio Office of Small Business Relief (OSBR)The OSBR is focused on identifying and providing direct support to the state's nearly 950,000 small businesses to help during the current public health crisis and to position them for a strong rebound.Visit CARES ACTExplained & Frequently Asked QuestionsPaycheck Protection Forgivable LoanEligible 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 are used for payroll costs and other designated operating expenses in the 8 weeks following the date of loan origination. Loans under this program will have the following terms:Interest rate of 1% and maturity of 2 yearsFirst payment deferred for six months100% guaranteed by SBANo collateral or personal guaranteesNo borrower or lender fees payable to SBAHOW TO APPLY: Apply through any existing SBA 7(1) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program.More info: Economic Injury Disaster Loan (EIDL)Eligible businesses: Businesses with fewer than 500 employees (or no greater than the number of employees set by the SBA as the size standard for certain industries). The federal CARES Act expanded to include sole proprietorships and independent contractors.Maximum loan amount up to $2 million.HOW TO APPLY: GRANT: Applicants may request an advance of up to $10,000 within three days after the Administrator receives the application, subject to verification that the entity is eligible under this program. The advance may be used for any allowable purposes under the Small Business Act and is not subject to repayment, even if the loan request is ultimately denied. Small Business Debt Relief ProgramSBA will pay the principal, interest, and fees owed for existing §7(a)loans in regular servicing status for any such loans, whether on deferment or not, that were made before the enactment of the CARES Act for the following 6-month period, and for any such loans that were made between the date of enactment of the Act and six months from such date. Employee Retention Tax Credits:Under the federal CARES Act, employers may be eligible for a refundable tax credit for the employer’s share of the 6.2% Social Security payroll tax. The tax credit is for 50% of the first $10,000 in qualified wages (including health plan expenses) paid to each employee in each applicable quarter between March 13, 2020 and December 31, 2020, to a maximum of $5,000 in credit per employee. CANNOT BE USED IN CONJUNCTION WITH PAYROLL PROTECTION LOANS. SharedWork OhioSharedWork Ohio is a voluntary layoff aversion program. It allows workers to remain employed and employers to retain trained staff during times of reduced business activity. Under a SharedWork Ohio plan, the participating employer reduces affected employees’ hours in a uniform manner. The participating employee works the reduced hours each week, and the Ohio Department of Job and Family Services (ODJFS) provides eligible individuals an unemployment?insurance benefit proportionate to their reduced hours.?Visit: Business Development Centers (SBDCs)/Minority Business Assistance Centers (MBACs)/ Association of Women’s Business Centers (AWBC)/ SCORE These centers, located throughout the state, can assist small, female, and minority-owned businesses with business planning, help accessing capital, and many other services. SBDC information: Knox County Representative:Michalina Lacy 419-207-6910, MLacy@MBAC information: AWBC information: SCORE information: County Representative:Mr. Merris Welge 419-522-3211, ncoscore@MANUFACTURERS’ ASSISTANCE IN PRODUCING PPEManufacturers who want to help produce PPE:Visit __________________________________________________________________________________SUMMARY OF ECONOMIC RESOURCES FOR INDIVIDUALSJob Seekers looking to work at essential businesses:Visit Contact OpportunityKnox, an Ohio Means Jobs Program, for more opportunities740-392-9675Unemployment Inquiries: File Online: File online at 24 hours/day, 7 days a week. File by Telephone: Call toll-free 1-877-644-6562 or TTY 1-614-387-8408. Call center hours are Monday through Friday 7 a.m. - 7 p.m., Saturdays 9 a.m. – 5 p.m., Sundays 9 a.m. – 1 p.m. An up-to-date FAQ on Unemployment Compensation in Ohio is available here: ................
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