Summit County Guidelines for new Small Business Grant Applications:
Summit County has granted the Akron Area Chamber of Commerce an additional $5.4 million dollars of funds received through the federal CARES Act to be used to issue grants to small businesses in Summit County to ease the financial impact of the COVID-19 pandemic. Similar to the previous grant awards, parameters have been put in place that broaden the requirements in hopes of encompassing more small businesses.
- $5,000 grants will be issued to those eligible businesses that employ between 2 and 30 employees
- $2,000 grants will be issued to those eligible businesses that are sole proprietor (single employee) businesses
- The first $1.4 million of grants will be awarded to those businesses that were deemed eligible to receive grants in the first round but remained unfunded
- The next $1 million of grants will be awarded to those businesses that were deemed ineligible in the first round but when the new parameters are applied, are now eligible.
- The next $1.6 million of grants will be awarded to new eligible applicants with 2-30 employees
- The next $1 million of grants will be awarded to new eligible sole proprietor businesses
- Applicants will be required to have been in existence a minimum of 15 months
- Applicants must submit a copy of the first page of their 2019 tax return (or 2018 return if 2019 has not been filed) and Schedule C, if applicable.
- The application period opens at 12:00pm on Thursday, May 14, 2020 and will close at 9:00am on Friday, May 22, 2020
- Grant money must be included as income; 1099 forms will be issued at year-end.
The following link will direct you to the Greater Akron Area Chamber of Commerce website for additional information.