NEW Columbus-Franklin County COVID-19 Small Business Response and Recovery Fund
As promised, the Office of Diversity and Inclusion is committed to keeping you informed and updated when new resources become available to support you and your business. We are very excited to share information regarding the new Columbus-Franklin County COVID-19 Small Business Response and Recovery Fund. The Fund is being launched by the City of Columbus in partnership with JPMorgan Chase, Rev1 Ventures, Next Street, Franklin County and a coalition of entrepreneur and small business support organizations.
Application process opens TODAY, June 9 at 5 p.m.
The application process opens today, June 9, 2020 at 5 p.m. Applications will be accepted on a rolling basis until July 17, 2020 at 5 p.m. Information on how to apply can be found at: https://www.rev1ventures.com/columbus-covid-19-small-business-response-and-recovery-fund/. Business owners will collaborate with regional Entrepreneur Support Organizations (ESOs) and Technical Assistance Providers to complete and submit an application.
In establishing this Fund, the Department of Development Office of Small Business and Entrepreneur Development is building on the recommendations, strategies, framework and collaborations detailed in the Columbus Small Business Agenda – a strategic initiative launched in 2019. The City will be partnering with Franklin County in this initiative. However, slightly different criteria applies for non-City of Columbus, Franklin County Ohio program applicants (Entrepreneur Support Organizations and Technical Assistance Providers will be able to expound upon the program distinctions).
The three programs include:
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Small Business Recovery Grants
Goal: Financial Relief – To provide financial assistance to existing small businesses including enterprises operating in Low and Moderate Income (LMI) areas of the City of Columbus, in the form of a grant, with the goal of job retention.
Grants up to $10,000 per applicant
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Small Business Return Safely (Personal Protective Equipment) Grants
Goal: Personal Protective Equipment (PPE) Procurement Assistance – To provide financial support to assist existing small businesses throughout the City of Columbus in securing PPEs and/or making necessary COVID-19 health/safety improvements required to re-open their businesses safely for their customers and employees.
Grants up to $5,000, per applicant, with a 1:1 match requirement with the qualifying business
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Small Business Pivot Loan Program
Goal: New Market Expansion; Job Retention and Creation – To provide small businesses, in Low and Moderate Income areas of the City of Columbus, access to low interest loan funding if a business has identified new markets for existing products, new services or new products lines that the business can expand into with the goal of maintaining existing business operations, while retaining existing jobs, creating new jobs or making capital investments due to unexpected market growth. Applicants are eligible to receive a maximum loan amount of 50% of the Total Business/Project Expansion/Opportunity Cost up to $20,000 (whichever is less).
For more information, contact the Department of Development Office of Small Business and Entrepreneur Development of the City of Columbus at 614-645-8616 or visit https://www.columbus.gov/development/economic-development/Small-Business/.
The City of Columbus:
Contact us: ODI@columbus.gov
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