Business Resources

Montgomery County Office of CARES Act

In June, Montgomery County will launch a new financial assistance program to help small businesses that experienced losses due to the Coronavirus pandemic.

The Montgomery County Office of CARES Act has allocated $40 million in federal stimulus funds to create grants that will help small businesses affected by the pandemic. If you want to be notified when online grant applications are available, visit to sign up for email alerts.

Additional CARES Act funding programs are being created to help education, agriculture, and healthcare industries, as well as to provide housing and rental assistance to individuals and families. Be sure you click “Sign Up” to get updates as these various programs are developed.

Local small businesses interested in applying to the Montgomery County CARES Act office for grants up to $10,000 can click here for more details.

Paycheck Protection Loans

As Clayton works to provide access to business resources, the latest numbers are showing the Paycheck Protection Loan, as of last night(4/6) is approving $2 billion worth of loans per hour and it is expected this program to run out of funds by next Wednesday, April 15th, so if you are interested in this program, please get your applications in ASAP.  I’ve also attached a fact sheet on the program with this email.  You can apply through your local lending institution, however, Huntington Bank seemed to be doing really well getting approval quickly.  If you have any questions please contact Jack Kuntz, Development Director at or (937) 836-3500 ext.111.

FAQ Paycheck Protection Program

Encouraged to Reapply for Loans

Since these resources have been rapidly developing and tweaked by the hour, we are being told to have businesses who might have been previously turned down to reapply for a SIDL Loan.  In addition, business may now receive an emergency $10K advance to help with cash flow.  Attach is a list of banks in Ohio that are available to process loans.  Also attached is an explanation of the differences between EIDL and Payday Protection loans.  We hope this information is helpful to our business community.  If you have any questions please contact Jack Kuntz at or (937) 836-3500 ext.111.

List of Banks Link

Loan Types Explanation


This is our attempt to summarize CARES Act legislation to assist our local businesses in obtaining assistance.  If you have any questions please reach out to Jack Kuntz, Development Director at or (937) 836-3500 ext. 111.

  • There are several new tax credits, a delay in the payment of employer payroll taxes, employee retention tax credit, Qualified Improvement Property (QIP) technical correction, 5 year Net Operating Loss (NOL) carryback, suspension of the Limitation on Losses from Pass-Through Businesses and a relaxation of Business Interest Deduction Limits. This new legislation also now includes sole proprietors and self-employed workers as being able to be eligible for expanded unemployment and benefits.  Sick or quarantined employee credit=employee’s regular pay, up to $511/day and $5,110 over the benefit period.  Employees caring for a family member: credit two-thirds of the employees regular pay, up to $200/day and $2000 over the benefit period.
  •  There’s a 50% refundable payroll tax credit on worker wages including for companies with fewer than 500 employees to retain workers.  There’s a delay in employer side payroll taxes for social security until 2021 and 2022.
  •  One of the loans created through the legislation is the Economic Injury Disaster Loan (EIDL), which can be applied for immediately and provides working capital to small businesses.  Loans less than $200,000 require no personal guarantee.  Approval is based solely on the applicant’s credit score.  There are no early payment penalties over the 30-year loan.  All of those applying for the EIDL are also eligible for a $10,000 emergency grant.  This loan can be used to provide paid sick leave to employees unable to work due to the direct effect of COVID-19, maintaining payroll to retain employee employees during business disruptions or substantial shutdowns, meeting increased costs to obtain materials unavailable from the applicant’s original source to interrupted supply chains, making rent/mortgage payments and repaying obligations that cannot be met due to revenue losses.
  •  The Paycheck Protection Program Loan (PPPL) has not come online yet, but should becoming available very soon. This loan is eligible for businesses with less than 500 employees, sole proprietors, independent contractors, independently owned franchisees, self-employed individuals and 501(c)(3) and have been in business since 2/15/20.  You can borrow 2.5x monthly payroll for the previous year, up to $10 million.  And some of this loan is forgivable if you meet certain criteria such as not laying off any employees and some other criteria for a certain time frame.  These loans are fully guaranteed by the feds and don’t require collateral or personal guarantee by the business.  If the loan is forgiven, it’s also not taxable. Forgiveness only applies to payroll costs and is adjusted for tipped employees. The “covered period” is 2/15/20-6/30/20.
  •  All of these loans can be obtained through FDA backed local lenders and the turnaround is supposed to much faster than traditional loans from the SBA in the past.  You just need to go to your local lender and ask about the EIDL or PPPL and they should be able to take your application directly from you there.

Helpful Websites

We strive to assists business during these uncertain times.  The following are websites which potentially have useful information and financial support.

Jobs Ohio

Dayton Chamber

Small Business Administration is another great resource guide and shows what people across the country are doing to help their businesses during this time.  It’s specific to the economy and COVID-19 pandemic response for businesses across the spectrum.

Montgomery County has their COVID-19 resource guide available here,  They’re compiling information as quickly as they can get it.


HERE is a link to a summary of the CARES Act, provided by the Dayton Area Chamber of Commerce, which is the federal stimulus for businesses, individuals, healthcare, state support and more. This passed the House on Friday, March 27.


SharedWork Ohio

The following are fact sheets about SharedWork Ohio.  SharedWork Ohio is a voluntary layoff aversion program. It allows workers to remain employed and employers to retain trained staff during times of reduced business activity. Under a SharedWork Ohio plan, the participating employer reduces affected employees’ hours in a uniform manner.

If employers have questions while completing the application please reach out to Jack Kuntz, Development Director at (937) 836-3500 ext. 111 or  Jack will put you in contact with the legal chief for the Office of Unemployment for Ohio’s Department of Jobs and Family Services.

This is a really good program to keep trained employees on staff during this time, while also helping employees who may otherwise be looking at complete unemployment.

Small Business Administration

Small businesses and non-profits are now eligible for Economic Injury Disaster loans from the SBA. If your small business will suffer losses due to this pandemic, please visit the SBA Disaster Assistance page to learn more. Those impacted should immediately send their contact information to BusinessHelp@Development.Ohio.Gov. Additional information on the U.S. Small Business Administration’s Economic Injury Disaster Loan program is available at

The following is an update on U.S. Small Business Administration loans during this time. Go to for applications. No cost to apply and no obligation. Turn around time is about 21 days.

Emergency declaration loans up to $2M, fixed rate for 30 years. Eligible businesses are those that are directly/indirectly affected by disaster. Ineligible businesses – religious organizations, charitable organizations, gambling, agriculture.

Need to be a small business (under 500 employees), in certain NAICS codes, have under $5M in net profit and less than $15M in total net worth since 2017. Credit history should be decent and have ability to repay. Need to have a physical location in Ohio. Company needs to know what their losses are because that information will determine amount of loan.

Additional Resources

Below are some additional resources for local businesses including some webinars and videos to help you through the process of applying for assistance.

This is a video from the Dayton Area Chamber of Commerce about “Business Interruption Insurance”  There are several links and videos about other topics as well on resources.  The Dayton Area Chamber seems to be doing a really good job with links to help a variety of businesses during this time.  That link is

Ohio has launched a major state-wide initiative to assess the damage to businesses. The Ohio Development Services Agency has issued this quick survey  for businesses as a way of compiling current and future damage as a result of the COVID-19 pandemic The Ohio Department of Jobs and Family Services has set up a special COVID-19 website to answer employer and employee questions about unemployment.

List of Startup Resources

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