The Columbus-Franklin County Small Business Recovery Fund
The Columbus-Franklin County Small Business Recovery Fund offers grants for small businesses specifically impacted by the COVID-19 pandemic.
$8 MM Fund to Support Columbus and Franklin County Small Businesses
The Columbus-Franklin County Small Business Recovery Fund will offer
$8 million dollars in grants to small businesses specifically impacted by COVID-19. These grants are intended to help those in underserved communities, minority-owned businesses, disadvantaged businesses, and veteran-owned businesses. The program’s purpose is to protect our small business economy and also ensure entrepreneurship can flourish and grow in our region.
This program seeks to provide relief to small businesses to help them:
- Maintain operations as well as employees.
- Maintain safe operating procedures.
- Mitigate financial hardship due to loss of sales.
- Seek out and also take advantage of business growth opportunities.
- Provide funding to small businesses in order to hire and train new employees.
- Provide funding in order to re-hire previously lost positions.
The Columbus Franklin County Small Business Recovery Fund will provide three types of grants to small businesses:
$5,000 Grant
Recovery Grants will be offered for self-employed, single entity, sole proprietors, or sole member limited liability companies with no W2 employees.
$10,000 Grant
Recovery Grants will be offered for small business owners who currently employ at least 1 full-time W2 employee, or full-time equivalent, in addition to the owner. Businesses that qualify for this $10,000 grant may also be eligible for the + Plus $10,000 Grant.
+ Plus $10,000 Grant
Business owners who qualify for the $10,000 Grant and can show employee loss due to the pandemic, may also qualify for the +Plus $10,000 Grant. This Job Restoration Grant will offer an additional $10,000 for re-hiring 1 full-time W2 employee.
______________________________________________
FUNDS FOR THE + PLUS $10,000 GRANT
HAVE BEEN EXHAUSTED.
Grant Eligibility
- The business must be located within the City of Columbus or Franklin County
- It cannot be identified as an ineligible business*
- The business can have up to 25 full-time employees
- The business must be able to show at least a 25% loss in sales due to COVID-19
- Business must have started on or before March 17, 2020
- Business must be currently open and operating
- For-profit businesses only
- Owner must be at least 18 years old
Required Documents
- State Driver’s License or Passport
- State of Ohio Business Registration Certificate (optional)
- Payroll Records as of March 17, 2020
- Federal Business Tax Returns for 2019 and 2020 or 2020 and 2021 OR
- Business Bank Statements for April 2019 and April 2020 or April 2020 and April 2021
- Federal Personal Tax Return for 2020
- Please note that only Tax Returns OR Bank Statements are required. Not both.
Application Process
01
First, review grant eligibility guidelines to see if your business qualifies. Businesses must meet all eligibility guidelines in order to qualify. From there, gather your required documents. Not all documents are required to apply.
02
Next, click the red “Apply Now” button in order to begin your grant application. Answer all required questions, upload your documents, and then click “Submit”.
03
After submission, we will assign your application to an Entrepreneur Support Organization (ESO) who will assist you with the completion of your application. The ESO will also answer any eligibility, documentation or process questions.
04
Finally, once your application is complete, the Grant Review Committee will evaluate it. You will receive email notifications of application status as it proceeds through the funding process. Approved funds will be direct deposited.
Days
Hours
Minutes
Seconds
the application is CLOSED
Grant Application - CLOSED
Application Opens: May 23, 2022, 9:00 AM
Application Closed: CLOSED
Thank you for your interest in the Columbus-Franklin County Small Business Recovery Fund.
The grant application phase of this fund is now complete.
If you submitted an application, you will receive further details by email.
Next Grant Application
Application Opens: July 5, 2022, 9:00AM
Application Closes: July 19, 2022, 11:59PM**
APPLICATION CLOSED
Thank you for your interest in the Columbus-Franklin County Small Business Recovery Fund.
The grant application phase of this fund is now complete.
If you submitted an application, you will receive further details by email.
Managing Partners
Entrepreneur Support Organizations
(Application Partners)
Community Outreach Partners
APPLICATION CLOSED
Thank you for your interest in the Columbus-Franklin County Small Business Recovery Fund.
The grant application phase of this fund is now complete.
If you submitted an application, you would receive further details by email.
Frequently Asked Questions
How do I apply?
In order to apply for a grant, visit The Columbus-Franklin County Small Business Recovery Fund website, and review grant eligibility guidelines to see if you qualify. From there, click the red “APPLY NOW” button to begin your application. Next, answer all required questions in the application and then click “SUBMIT.” After submission, we will assign your application to an Entrepreneur Support Organization (ESO). The ESO will help you identify/upload the required documentation and also answer any questions you may have.
But what if I can't answer some of the questions?
Complete all required questions (marked with an “*”) to the best of your ability, select one of the options indicating you need assistance, and then click “SUBMIT.” After submission, we will assign your application to an Entrepreneur Support Organization (ESO). The ESO will review your application and also contact you to provide assistance.
Should I wait until I have all the questions answered and documents uploaded before I submit?
No, if you need assistance, complete all required questions to the best of your ability, select one of the options indicating you need assistance, and then click “SUBMIT.” After submission, we will assign your application to an Entrepreneur Support Organization (ESO). The ESO will review your application and also contact you to provide assistance.
I see a place to upload my 2019, 2020, & 2021 taxes. Do I have to have a loss in all 3 years to qualify?
No, in order to qualify, a 25% loss only needs to be identified in either 2020 or 2021. The loss is determined by comparing 2019 taxes to 2020 taxes OR 2020 taxes to 2021 taxes.
What document file formats can be uploaded?
Preferred document file formats include .PDF, .DOC, .DOCX, .JPG, .PNG, & .GIF.
Limit 1GB per file.
What if I need help completing the application?
As you progress through the application there will be areas where you can indicate you need assistance. Complete all required questions to the best of your ability, select one of the boxes that indicate you need assistance and then click “SUBMIT.” After submission, we will assign your application to an Entrepreneur Support Organization (ESO). The ESO will review your application and also contact you to provide assistance.
So once I have submitted my application, how long will it take to be funded?
Approved applications will be awarded approximately six weeks after submission.
How much money is available for this fund?
The combined pool of money available for this fund specifically is $8 million dollars, shared across all three grant options.
How long will the fund be available?
The fund will disperse grants in waves. The first wave will open Tuesday, March 1, 2022. Applications will be accepted, processed, and awarded within an approximate six week window. We anticipate conducting five waves ending September 30, 2022. However, the fund will only be available until all monies are expended.
How much can I receive from the grant?
Depending on the size of your business, you may qualify for either the $5000 grant OR $10,000 grant OR the $10,000 grant with an option to apply for an additional $10,000 for hiring one full-time employee and also maintaining them on payroll for four months. (Four-month employment period must be completed within 6 months of grant award in order to qualify for additional $10,000.)
Will I be taxed on this grant?
The grant award is considered taxable income to you personally or to your business, specifically depending on your IRS tax filing status. You will receive a 1099 statement for the 2022 tax year. Please seek advice from your accountant in order to learn how to best declare this additional income.
How do I qualify for this grant?
In order to qualify for this grant, you must meet grant eligibility guidelines listed on The Columbus-Franklin County Small Business Recovery Fund website and below:
- The business must be located within the City of Columbus or Franklin County
- It cannot be identified as an ineligible business*
- The business can have up to 25 full-time employees
- The business must show at least a 25% loss in sales due to COVID-19
- Business must have started on or before March 17, 2020
- Business must be currently open and operating
- For-profit businesses only
- Owner must be at least 18 years old
How do I determine if I meet the 25% loss in sales eligibility requirement?
To be eligible for this grant, you will need to show that your business experienced a 25% loss in sales/revenue due to Covid-19.
Chose ONE of the following ways to show your loss:
• 2020 taxes showing revenue 25% lower than your 2019 taxes
• 2021 taxes showing revenue 25% lower than 2020 taxes
• April 2020 bank statement shows 25% lower deposits from revenue than April 2019 bank statement*
• April 2021 bank statement** shows 25% lower deposits from revenue than April 2020 bank statement*
(* If there are deposits that are not sales revenue, your Application Partner will help you document this)
(** If you have not filed your 2021 taxes yet, a P&L statement can be substituted for the 2021 tax return only)
What if I started my business since the pandemic began?
In order to qualify for this grant fund, you must have opened your business on or before March 17, 2020.
Does the grant application approval process involve a credit check or personal guarantee requirement?
No credit check or personal guarantee is required.
So what business types are not eligible? *
Businesses that are NOT eligible include:
- Any business that does not meet the definition of a small business, based on SBA size standards. Visit https://www.sba.gov/document/support–table-size-standards to check your business. You can also check it with NACIS Code https://www.sba.gov/size-standards Verify if business exceeds $1 million in sales. *
- Is based in a foreign country; with the exception of US affiliates or subdivisions of foreign companies, which can receive services as long as the combined company is still considered “small” under the size standards.
- Is engaged in any activity that is illegal under federal, state, or local law or that can reasonably be determined to support or facilitate any activity that is illegal under federal, state, or local law.
- Derives more than one-third of its gross annual revenue from legal gambling activities.
- A sexually oriented business.
- Is engaged in the sale, cultivation, or distribution of cannabis products excluding CBD.
- Publicly traded businesses.
- A governmental agency.
- A club with exclusive membership.
- Organizations engaged in political or lobbying activities.
- A State liquor agency.
- A financial institution that makes loans or issues credit to the public.
Can nonprofits also apply?
No, the grant fund is exclusively intended to support for-profit businesses.
Can for-profit businesses owned by a non-profit organization also apply?
For-profit businesses owned by non-profit organizations are eligible, as long as they meet all other requirements. However, you must make the application through the for-profit business and not the non-profit parent company.
If I have more than one business can I apply for each one?
If each business has been operating under separate EIN numbers and also meets grant eligibility guidelines, you may apply for a grant for each business.
Can I apply for this fund if I also received a grant from Columbus and Franklin County last year?
Yes, business owners who received a grant from the Columbus-Franklin County COVID-19 Response and Recovery Fund during the previous program may also apply if they meet the current fund’s eligibility guidelines.
Can I apply for this fund if I also previously received money from federal COVID-19 assistance programs?
Yes, grant options in this fund are available to business owners that have also previously received federal assistance.
Are businesses with outstanding taxes, fines and/or fees owed to the City of Columbus eligible?
No – the fund will only provide grants to businesses with no outstanding financial obligations with the City of Columbus.
Is a business in a current payment plan for taxes and fees owed to City of Columbus eligible?
Yes, businesses in a payment plan are eligible, as long as they are current on payments due. Additionally, proof of status will be required if approved. Businesses must also be current on debts owed to Franklin County.
Will debt owed to Columbus be the only disqualifier, or will Franklin County or State of Ohio debts disqualify as well?
Unpaid debt to Columbus is the only disqualifier for the City. The City of Columbus will not consider debts owed to the County, State or Federal government. Businesses must also be current on debt owed to Franklin County.
Will code violations disqualify a business?
Businesses that have an open code violation will not be eligible. Additionally, businesses that have been referred to the city attorney’s office for non-compliance with the COVID-19 public health orders will not be eligible.
Are there other resources available if I don't qualify for a grant?
Our intention is to help businesses recover from the COVID-19 crisis. So if a business does not qualify for a grant from the fund, the business will be referred to the Ohio Small Business Development Center at Columbus State Community College for assistance (SBDCColumbus.com)
Are there printed marketing materials available describing the fund?
Yes, you can download PDF materials describing the fund as well as a copy of the application at The Columbus-Franklin County Small Business Recovery Fund website (here).
Who is the primary point of contact for questions regarding this fund?
The Columbus-Franklin County Small Business Recovery Fund website is the central point of contact for all questions related to the fund. Review the website as well as this Frequently Asked Questions (FAQ) list for answers to common questions. If you still have questions after review, you can email us sbdc@cscc.edu.
My Application Partner told me that my application has been submitted to the Review Committee. Does this mean I'm going to get the funds?
Once your application has been completed and determined to be eligible, it is submitted to the Review Committee for consideration of funding, as funding is limited. This is not a guarantee of funds of any kind.
I’m applying for the $10,000 grant and the +Plus $10,000 Job Restoration Grant—how does this work and will I get the full amount at the same time?
Please be advised: No applications are guaranteed funds of any kind. Not all eligible applications will be funded as there are limited funds available for each wave.
The +Plus $10,000 Job Restoration Grant is for businesses who qualify according to the grant guidelines for the $10,000 Grant, are approved for funding, and can also document a loss of employee positions due to Covid 19. After receiving the $10,000 Grant, the business must prove they hired one additional W2 Full-Time employee within two-months of receiving the initial award AND can provide documentation that they are still on the payroll as a FT employee, four months after hire date. The +Plus $10,000 Grant is not paid until after the employee has been hired and employed for the entire four-month period, all payroll documents are collected and employment status confirmed.
After the $10,000 Grant is distributed, applicants indicating interest in the +Plus $10,000 Job Recovery Grant will be contacted with further instructions
Still have Questions?
Email Us at SBDC@CSCC.edu
Disclaimer: The Small Business Development Center of Ohio (SBDC) program is funded in part through a cooperative agreement with the U.S. Small Business Administration. The SBDC program is also funded in part by the Ohio Development of Development. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance. Contact the Ohio SBDC at (614) 287-5294 or via email at sbdc@cscc.edu.