COVID-19 Business Resources

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Loans
SBA Loan Programs
SBA7(a) "Paycheck Protection Loan Program" : This loan program allows for a loan of up to 2.5 times average monthly payroll for the last twelve months and may be used on payroll costs, mortgage, rent, and utilities. All or a portion of this loan may be forgiven, if eligibility requirements are met. A business would apply for this loan through their local SBA lender (bank). More details on this loan will be released on April 3.

SBA Loan Programs
SBA 7(b) "Economic Injury Disaster Loan" program This program grants low-interest loans for of up to $2 million dollars to cover operating expenses and other costs during COVID-19. To apply for Disaster Loan Assistance, go to the following link:

Rules / Regs
Ohio's "Stay at Home" Order (March 22, 2020)
Ohio’s "Stay at Home" Order (March 22, 2020) You may have questions about whether you are an "essential" business and can remain open during Ohio’s "Stay at Home" order. A copy of the order can be found at:

Answers to "Frequently Asked Questions" on the Ohio "Stay at Home" order can be found at:

Sick Pay
Family Leave and Sick Pay Leave
Emergency Family and Medical Leave Expansion Act: If you have less than 500 employees and your employee has not been laid off for lack of work, you may be required to cover up to 80 hours of paid sick leave if your employee is subject to an isolation order, self-quarantine order from a health care provider, is experiencing COVID-19 symptoms, or is caring for an individual who has been quarantined, is caring for a child whose school or place of care is closed due to COVID-19 related reasons. If you have less than 50 employees, you may be exempt from providing this pay to an employee who is caring for a child whose school or place of care is closed due to COVID-9 related reasons.

Sick Pay
Payroll Tax Credits
If you have to pay wages due to the Emergency Family and Medical Leave Expansion Act, you may qualify for a payroll tax credit of up to 100% reimbursement of wages and health insurance cost for the costs paid pursuant to this act.

Payroll Taxes
Delay of Payroll Tax Payments
Delay of Employer Payroll Taxes The provision allows employers and self-employed individuals to defer payment of the employer share of the Social Security Tax they otherwise are responsible for paying to the federal government with respect to their employees. Employer generally are responsible for paying 6.2 percent Social Security tax on employee wages. The provision requires that the deferred employment tax be paid over the following two years, with half of the amount required to be paid by December 31, 2021 and the other half by December 31, 2022. The Social Security Trust Funds will be held harmless under this provision.

Payroll Taxes
Unemployment
Unemployment: As an employer, you may find you need to lay off employees due to "lack of work." This layoff may be because your business is closed or you no longer have the amount of work you had previously. If your employee is laid off due to COVID-19, the one-week waiting period for receiving benefits has been waived and your employee should qualify for benefits immediately. It is also important to note that unemployment paid due to COVID-19 will be paid from a "mutualized" account, meaning the costs are not charged to individual employers.

Payroll Taxes
Workers' Compensation
Workers’ Compensation: The Ohio Bureau of Worker’s Compensation system has announced that insurance premium installment payments due March, April, and May, 2020 will be deferred until June 1, 2020. For additional information on deferred Ohio workers’ compensation payments, see the following "Frequently Asked Questions":

Tax
Net Operating Losses
Net Operating Losses: The CARES Act relaxes the limitations on a company’s use of losses. Net operating losses (NOL) are currently subject to taxable-income limitation, and they cannot be carried back to reduce income in a prior tax year. The provision provides that an NOL arising in a tax year beginning in 2018, 2019, or 2020 can be carried back five years. The provision also temporarily removes the taxable income limitation to allow an NOL to full offset income.

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