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OhioSE COVID-19 Business Update #7

We normally send COVID-19 updates on Monday morning but wanted to pass along some timely information:

  • The SBA’s Paycheck Protection Program (PPP) is expected to receive another $310 billion this week for loans to small businesses. This money will go fast. For small businesses that might struggle with the PPP application process, this video put together by the Ohio Small Business Development Center (SBDC) network, contains tips on what you should be prepared for. Please share as appropriate. The SBDC staff can provide free counseling to small businesses. The SBDC based out of Ohio University’s Voinovich School does great work across a 12-county area; their COVID resource page can be found here. A map with links to other Ohio SBDCs serving the rest of the region and state can be found here.
  • For those businesses looking to reopen soon, here are two guides that may be of assistance in your planning phase:
  • In our last email we mentioned a possible disincentive for workers to return to work after layoffs due to the extra federal stimulus funds added to unemployment benefits. Several employers have shared concerns. Ohio Job & Family Services sources indicate if an employer calls a laid off employee back to their job, a worker’s refusal to return to work can result in a cancellation of unemployment benefits and possible pay back of undue payments. However, please be aware the unemployment system is currently swamped trying to respond to record-setting claim volumes. For future reference, there is an employer section of the unemployment help website that may be a resource.

As always, please visit our COVID-19 Resource page frequently as it is updated when new programs and information is available, and don’t hesitate to reach out should you have questions.

Sincerely,
Mike Jacoby, OhioSE President