XENIA — Beginning Tuesday, Sept. 1, the CARES (Coronavirus Aid, Relief, and Economic Security) Grant for Greene County Small Businesses will begin allowing companies with up to $5 million gross annual income to apply for funding.
Initially, the program was capped at allowing businesses with $1 million in gross annual revenue to apply to ensure smaller businesses received priority.
Greene County commissioners approved the change at their meeting Thursday.
The Greene County Department of Development originally rolled out the CARES grant Aug. 1. It was created to provide economic relief to local businesses for costs directly associated with the COVID-19 pandemic.
The new business relief program utilizes money from the federal CARES Act program. Greene County received $2.5 million in funds from the state, and the commissioners set aside $500,000 for assisting small businesses. The remaining $2 million is being used to offset the cost of the county’s response to the pandemic.
Eligible small businesses can apply for up to $10,000 to use for COVID-19 related costs incurred after March 1 including sanitizing and personal protective equipment, costs related to enforcing social distancing, rent/mortgage, non-municipal utilities, and business insurance.
Since the program began accepting applications, the department has received 37 applications and has approved 19 for grants, equaling more than $153,237 in funding for local businesses, according to Director of Development Eric Henry.
“While the response has been slower than expected, commissioners are thrilled to be able to get this money out to our small business community,” County Administrator Brandon Huddleson said. “They understand how critical this segment of our economy is and they understand that they were especially hard hit. We encourage all qualifying small businesses to apply right away.”
Three local jurisdictions — Miami Township, Sugarcreek Township, and Xenia Township — have also pledged portions of their CARES funding for the department to administer towards each jurisdiction’s respective local businesses.
Requirements for eligibility include:
— The applicant must be a small business with 50 or fewer total employees.
— The applicant must be a for-profit entity located in Greene County.
— The applicant must have a Federal Taxpayer Identification Number.
— The applicant must have less than $5 million in gross annual revenue as evidenced by records such as federal income tax returns or financial statements
— The applicant must not have already received any other federal or local assistance, including CARES or COVID-19 SBA loans, PPP, EIDL, local jurisdiction grants or loans.
— The applicant must have a physical storefront and/or be an allowable home office as reported in the most recently filed tax return.
— The applicant must be current on all federal, state, and local taxes.
— The applicant must be in compliance with federal, Ohio, and local small business requirements.
Ineligible businesses include adult entertainment establishments; banks, savings and loans, or credit unions; e-commerce only companies; liquor or wine stores; non-profits; vaping stores; tobacco stores; cannabis dispensaries; and franchised businesses not locally owned and independently operated.
Applications for the program can found at greenecountydod.org and will continue to be accepted until all funds for the program have been depleted or until Friday, Oct. 30.