Yesterday, the Small Business Administration began to offer an advance of up to $10,000 on its Economic Injury Disaster Loan for businesses being disrupted by COVID-19. For businesses that are experiencing a temporary loss of revenue, funds should be made available within three working days of a successful application. The loan will not have to be repaid. You can apply for the Economic Injury Disaster Loan Advance by clicking here.
Governor DeWine signed House Bill 197 into law this afternoon. Among the provisions included is moving the state tax filing deadline to July 15.
Also today, the United States Congress approved the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). It is expected to be signed by President Trump soon.
While larger businesses have teams in place to plan and implement disruption plans, many smaller businesses typically do not have the same resources. The Toledo Regional Chamber of Commerce’s Small Business Development Center (SBDC) is available to assist small businesses in being prepared for an interruption in business operations, especially due to the recent spread of the Coronavirus. As events get canceled or supply chains interrupted, businesses need to be prepared for the effect these disruptions will have on their processes and workflows.
The Small Business Administration Office of Advocacy: The Voice of Small Business in the Federal Government
From the Small Business Administration Office of Advocacy
Small businesses are the engine of the economy. In Toledo there are nearly 11,000 small businesses employing 44 percent employees. Small business accounts for 77 percent of all businesses by number and generates more than $4.7 billion in payroll. Seventy-six (76) percent of small businesses in Toledo have fewer than 20 employees.
By Sabrina D'Onofrio, Export Assistance Network Director
The International Market Access Grant for Exporters is coming to a close this Friday, Feb. 28 at 3 p.m. The IMAGE Grant is a program funded through the State Trade Expansion Program (STEP). STEP is funded through the Small Business Administration’s (SBA) Office of International Trade. The SBA provides guidance on the IMAGE grant that offers financial assistance for small businesses to promote their products and services in international markets. The IMAGE grant will provide 50 percent reimbursement up to $10,000 per fiscal year for qualifying activities.
On Feb. 6, the Toledo Regional Chamber of Commerce and the Toledo Small Business Development Center held the first-ever Drivers Ed class. The series was designed specifically for young professionals entering C-suite and ownership-level positions in their businesses, and focuses on teaching them to not just sustain the business model of previous generations, but to grow. The series continues on March 5 at 8 a.m. with Accounting for Fuel Efficiency at the University of Toledo's Nitschke Technology Commercialization Complex.
On Feb. 6 at 8 a.m. at the Toledo Club, the Toledo Regional Chamber of Commerce, alongside the Toledo Small Business Development Center, will hold its first-ever Drivers Ed class. The class, part of a 10-course series, will challenge attendees to step into a new future in both their C-suite and ownership positions, as well as in their companies as a whole. Each class is built with one concept in mind: growth.
On Jan. 24, the graduating class of Export Success 2020 began its journey to create export plans, learn how to become masters in exporting abroad and/or fine tune their existing export process. The 10-session course, hosted by the Export Assistance Network at the Small Business Development Center at the Toledo Regional Chamber of Commerce, in partnership with the Regional Growth Partnership, is characterized by dedicated student companies and seasoned mentors. Meet some of our mentors and learn how they can assist you in growing your business through exporting overseas:
On Jan. 9, the Toledo Regional Chamber of Commerce and the Regional Growth Partnership (RGP), along with key northwest Ohio-based exporters and future exporters, met at Manhattan's Pub 'n Cheer to discuss the impact exporting abroad can have on local business, what exporting means to the global economy, and how business owners not currently exporting can take advantage of local resources and begin to export abroad.
For companies exporting or are looking to export, the Toledo Regional Chamber of Commerce can connect you with the resources you need to succeed. Keep reading to find out what tools are available to you right here in northwest Ohio.