Elyria, OH – As a recipient of CARES Act funding, the City of Elyria is now able to offer grants for small businesses which have been impacted by COVID-19.
“Small businesses owners sacrificed a lot to keep our community safe over the last few months, resulting in increased expenses and reduced revenues.” shared Economic Transformation and Business Services Director Dawn Calvert “We’re eager to evaluate their needs and get them the funds needed to survive this time and make adjustments for the future.”
“Our small businesses are what keep Elyria authentic and unique,” shared Mayor Frank Whitfield. “We applaud City Council for their support of this program, and we encourage local small businesses to apply for these grants, which provide up to $50,000 in grant relief.”
Small business eligibility requirements:
- Must be physically located within the boundaries of the City of Elyria, Ohio
- Must have been in operation before January 1, 2020
- Must be able to demonstrate ongoing business operations as of February 29, 2020
- Must meet the definition of a Small Business as defined by the US Small Business Administration. For assistance in determining your company’ s eligibility please visit https://www.sba.gov/size-standards/
- Must be able to demonstrate that the business has suffered economic damages from business interruption caused by COVID-19 since March 1, 2020.
- Must not have any current unpaid code enforcement liens.
- Must not be operating in violation of any State, Federal, or local laws.
Funding is on a limited basis and applications will be accepted on a rolling basis.
The City of Elyria’s Grant Review process is carried out through the Elyria Economic Development Committee. Normally it takes approximately thirty (30) days to review applications, however considering the seriousness of the situation and projected need, the loan review process should take no more than two (2) weeks after all required submittal materials have been received. After review, and if approval is granted, checks will be mailed to the business which may take up to two (2) additional weeks.
This grant program and any specific grants are contingent upon the availability of funds. If at any time this funding source is depleted, this grant program and any commitments to fund specific grants may become null and void.