Small Business Grants Available Starting May 2, 2022
Lorain County has recently announced ARPA Grants for Small Businesses. The County has earmarked $3-million 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. To be eligible to receive grant funds, 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
Certain exclusions apply, including but not limited to franchise businesses with over three locations; professional services such as real estate, law and accounting firms; and banks, credit unions and payday lenders. Grant awards will range from $5,000 to $20,000. The funding round will open on Monday, May 2, 2022 and will close on Friday, May 27, 2022. Awards will be considered on a first come, first served basis, based on the timestamp of their application.
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