SBA.gov/Disaster - Ohio has not yet been declared an SBA disaster area for coronavirus, but the State is working with them to submit an application to that effect, and it’s expected to come soon. Ohio Development Services Agency is preparing to submit an application to qualify Ohio for the U.S. Small Business Administration’s (SBA) Economic Injury Disaster Loan Program. This program provides low interest loans up to $2 million in order to help businesses overcome the temporary loss of revenue during the state of emergency.
Non profit organizations in Ohio will also be eligible for low-interest loans through the SBA’s Economic Injury Disaster Loan program. Additional information on the SBA Economic Injury Disaster Loan Program is available at SBA.gov/Disaster.
ODJFS SharedWork Ohio- SharedWork 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.
Interested employers provide ODJFS with a list of participating employees and specify their normal weekly hours of work, not to exceed 40 hours and not including overtime. Part-time employees may be eligible, but all employees in an affected unit must have their hours reduced by the same reduction percentage. Reduction percentages must be at least 10 percent but no more than 50 percent of the normal weekly hours of work.