From the KM&M CPAs Newsletter/Thomson-Reuters —
Clients and friends,
Please find below some interesting news on $10,000 state grants now available to minority- and woman-owned small businesses in Ohio. We urge you to take advantage of this new program if you are eligible or to share the info with any of your contacts who may be interested.
Thanks to the Ohio Small Business Development Center at Ohio University for sharing this information:
Ohio Minority Micro-Enterprise Grants Program
If you are a woman or minority owned business, please check out this new GRANT opportunity. You do not have to be formally certified! If eligible, apply asap as funds are limited.
Many Ohio small, minority- and women-owned businesses have been hard hit by the COVID-19 pandemic. The Ohio Minority Micro-Enterprise Grant Program provides $10,000 in funding to help these companies through the current crisis and set them up for the future.
Applicants for the grants must meet the following criteria:
- Must be an Ohio minority or woman-owned business.
- Must have 10 or fewer employees.
- Must have been in operation for at least a year (no startups).
- Must have $500,000 or less in annual revenue.
- Must be a current full-time resident of Ohio and a full-time resident in 2019.
- The business must be located within the State of Ohio.
- Must be current on all State of Ohio taxes.
- Must provide the most recent copy of each document requested for your specific type of business ownership structure:
- Sole Proprietor – 2019 Schedule C and Bank Signature Card, or a letter, on the bank’s letterhead, explaining who has signature authority for the company’s bank accounts.
- Partnerships – 2019 Schedule K-1 and Bank Signature Card, or a letter, on the bank’s letterhead, explaining who has signature authority for the company’s bank accounts.
- Corporation – Stock journal or ledger, 2019 schedule K-1, Bank Signature Card, or a letter, on the bank’s letterhead, explaining who has signature authority for the company’s bank accounts, and management agreements.
- LLC – Unit journal of ledger, 2019 schedule K-1, Bank Signature Card, or a letter, on the bank’s letterhead, explaining who has signature authority for the company’s bank accounts, and management agreements.
Grants will be awarded on first-come, first-served basis.
For more information about the Ohio Minority Micro-Enterprise Grant Program, email bizgrants@development.ohio.gov or apply directly at the Ohio Development Services Agency.
Contact KM&M CPAs for help with any of your business or tax accounting issues. Call us at (419) 756-3211, send an email to mailto:kmm@kmmcpas.com, or just fill out our contact form at this link.