Working togetherto promote rewardingmanufacturing careers throughout Northeast Ohio.
AWT is partnering with OhioMeansJobs Lake County, the Lake County Commissioners, the Lake County Workforce Development Board, Team Neo, HOLA Ohio,and News Channel 5 to host Lake County's first virtual career fair.
The Ohio Development Services Agency Released Programs to Help your Business
The Ohio Development Services Agency (ODSA) has released three grant programs for Ohio businesses including:
(1)The Ohio PPE Retoolign and Reshoring Gran Program: Funds of $20 million grant will be award to small companies (500 employees or less) award in grants of up to $500,000 per Ohio facility
(2) Appalachian Regional Loan Program which is exclusively for businesses in the 32-county Appalachian region of Ohio.U.S. Treasury-certified Community Development Financial Institution Appalachian Growth Capital LLC will offer low-interest loans of up to $500,000 to small businesses in the region to help them through the current economic crisis. Loan recipients will have the ability to defer payments for up to six months.
(3) The Ohio Minority Micro-Enterprise Grant Program with grants of $10,000 to be awarded on a first-come, first-served basis for up to 500 minority- and women-owned businesses.
To be eligible businesses must:
Be state-certified Minority Business Enterprises (MBE) and/or women-owned businesses with state certification in the Encouraging Diversity Growth and Equity (EDGE) Program
Have annual revenue of up to $500,000
Have 10 or fewer employees
Businesses that have received federal assistance through the federal CARES Act are not be eligible. Applications are now open under the ‘Business & Nonprofit Support’ tab in the link below.
For more information on each program or to apply, click the links below.
The Lake County Commissioners' Business Assistance Programs
The Lake County Commissioners have authorized two (2) business assistance programs to benefit small for-profit businesses impacted by the COVID-19 pandemic. Check-out more information by clicking the links below.
The TechCred application is now open until June 30th, this program allows businesses to seek reimbursement for upskilling current and/or incoming employees. There has been a few changes to the program to overcome barriers that COVID- 19 may have created. Please see the additional information and applications below.
Paycheck Protection Program Flexibility Act Passes Senate
The U.S. Senate passed the Paycheck Protection Program Flexibility Act (original House HR 7010 version) last night by unanimous consent and sent it to President Donald Trump who is expected to sign the legislation.
HR 7010, introduced by Reps. Dean Phillips (D-Minn.) and Chip Roy (R-Tex.), makes several changes to the Paycheck Protection Program (PPP), including –
• Extending the expense forgiveness period from 8 weeks to 24 week
• Reducing from 75% to 60% the amount of loan funds that must be spent on payroll to qualify for debt forgiveness
• Allowing businesses that receive loan forgiveness under PPP to defer payroll taxes
• Extending the “covered period” for PPP loans from June 30, 2020 to December 31, 2020
Additional Clarification on HR 7010 and “covered period”: The Paycheck Protection Program Flexibility Act of 2020 extends the “covered period” for PPP loans from June 30, 2020 to December 31, 2020AND also extends the “covered period’ for PPP loan forgiveness from 8 weeks to 24 weeks. This means that the “covered period’ on a PPP loan will start on the date the loan is originated and end 24 weeks later or on December 31, 2020 – whichever is earlier. However, the bill does not provide additional PPP lending authority or ‘funds’ and the bill does not grant lenders additional time to make PPP loans. As provided in the original CARES Act, the PPP loan program ends on June 30, 2020. This means all PPP lenders, including CDFIs with access to the PPP set-aside, have until the end of June to originate PPP loans.