Coronavirus Disaster Relief Funds for Businesses 

Cuyahoga County Small Business Stabilization Fund - 

Small Business Stabilization Grant  

Fill out the simple application to be considered. One eligibility requirement is the business must have less than 25 employees. 

This second round is being funded with $1.5M in County funds and $500K from the Cleveland Foundation. Cleveland Neighborhood Progress will administer this round of $2M, making grants of $2,500-$5,000 available to an estimated 600 businesses with 25 employees or less. The online application is open through May 15 at 5 PM.

For more information and to apply click HERE

Small Business Stabilization Loan  

For more information and to apply click HERE

Cuyahoga County Small Business Resource Call Center - 216.452.9741

SBA logo 2020

 View the Small Business Guidance Loan Resource HERE

Learn more about the Small Business Resource Center HERE

In response to the Coronavirus pandemic, small business owners are eligible to apply for an Economic Relief Disaster Loan advance up to $10,000. Apply for the loan HERE. The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of successful application, and this loan advance will not have to be repaid.

The Office of Small Business Relief (OSBR)

Ohio Governor Mike DeWine and Lt. Governor Jon Husted announced the creation of the Office of Small Business Relief within the Ohio Development Services Agency. The Office will coordinate state efforts to identify and provide direct support for Ohio’s nearly 950,000 small businesses. View the website here.

Two videos were created on 4/6/2020 about the Paycheck Protection Program and Economic Injury Disaster Loan.

Paycheck Protection Program Overview 
Watch the video HERE

Comparison Between Paycheck Protection Program Loans and Economic Injury Disaster Loans
Watch the video HERE

What can you do now?  

If you are in need of funding asap, apply for the EIDL Advance(limited to $10,000)* with its 3 day funding. It is not forgivable but can be converted later to a PPL. As of this morning banks are still working out loan application logistics. Many will have online applications soon. If you want to prepare now, have ready:

  • Your most recent IRS Form 941 – Quarterly Federal Income Tax Return
  • Breakdown of your January 2019 – February 2020 payroll expenses (if you employ 1099 contractors, please include them in this report, but as a separate line item – we are still waiting on clarification as to whether we get to count this expense)
  • Year End Financial Statements (2019) – Income Statement and Balance Sheet

Best practice is to segregate your COVID-19 expenses (including payroll, ER health insurance payments, ER retirement plan contributions, rent, interest and utilities starting February 15, 2020 until June 30, 2020) using classes, if possible.

There are two loans available right now that we can help you navigate. Below outlines each loan, the Paycheck Protect Program and Economic Injury Disaster Loan, and how they differ.

View the Interim Final Rule for the Paycheck Payroll Protection Program HERE

View the Paycheck Protection Program Information Sheet HERE

Paycheck Protection Program (“PPP”)

Economic Injury Disaster Loan (“EIDL”)

Loan maximum of $10 million. Eligible amount based on payroll measured over the 12 months preceding the loan date. Seasonal businesses can use February 15, 2019 – June 30, 2019 or March 1, 2019 through June 30, 2019

  1. Payroll is defined as salaries, commissions, tips, employee benefits including health insurance and retirement benefits, state and local taxes, certain types of compensation to sole proprietors or independent contractors.
  2. Salary cannot be in excess of $100,0000 for an individual employee, foreign employee, or FICA and income tax withholdings.

Loan maximum of $2 million, you may request an advance of $10,000 to be distributed within 3 days.


10 years, interest not to exceed 4%

30 years, 3.75% for business or 2.75% for non-profits

Conditions of Use

Funds can be used for payroll costs as defined (defined above), group healthcare, insurance premiums, mortgage interest, rent on a lease in effect prior to February 15, 2020, utility payments, or other debt incurred before February 15, 2020.

Funds can be used for operating expenses and fiscal obligations that would otherwise have been met if not for the Covid-19 disaster.


Loans may be fully or partially forgiven based on the amount spent by the borrower during the 8-week period after the loan origination on payroll costs, interest payments on mortgages, and rent payments. Mortgages and lease agreements must have been in place prior to February 15, 2020.

Not available BUT EIDLs are convertible to PPL, which are forgiven.

Are there circumstances that loan forgiveness doesn’t apply?

Yes, the amount forgiven is reduced by failure to maintain the average number of full-time employees versus the period from either February 15, 2019, through June 30, 2019, or January 1, 2020, through February 29, 2020, as selected by the borrower.

The amount forgiven is also reduced to the extent that compensation for any individual making less than $100,000 per year is reduced by more than 25% measured against the most recent full quarter. Reductions in the number of employees or compensation occurring between February 15, 2020, and 30 days after enactment of the CARES Act will generally be ignored to the extent that reductions are reversed by June 30, 2020. Forgiven amounts will not constitute cancellation of indebtedness income for federal tax purposes.

Not applicable

When can I apply?

Start the process now by reaching out to your lender. The SBA should be providing guidelines to banks.

Now! We recommend you apply as soon as possible. BUT we cannot find a way to apply. Stay tuned.

Do I have to have my 2019 taxes done?

Most lenders will use your 2018 return, although each lender is different.

You do not have to have your 2019; however, you will need to allow the SBA access to your historical tax returns.

Personal Guarantee

Not required.

Loans less than $200,000 require a personal guarantee of the business, managing members of LLC’s, or managing partners of LP’s. No liens on real estate.

Required Collateral

None required by business or owners.

A lien against business assets will be issued by the SBA.

It is important to note that you cannot have both loans at the same time. If you receive an EIDL loan you can still apply for a PPP loan. Once you receive the Payment Protection Program loan you can refinance your EIDL loan into it.

Economic Injury Disaster Loan (EIDL) - Applying for a Small Business Loan – Initially borrowers were directed to apply for loans via the SBA website. As of March 31, 2020, the website only has an application for the $10,000 advance – maybe. We have applied but are not 100% sure we will be funded because the application process did not include any normal loan information.

*If you wish to apply for the Advance on your EIDL, please visit SBA site as soon as possible to fill out a new, streamlined application. In order to qualify for the Advance, you need to submit this new application even if you previously submitted an EIDL application. Applying for the Advance will not impact the status or slow your existing application.