Lake County commissioners: Small business grants, loans continue making impact |

This May, the Lake County commissioners authorized two business assistance programs to benefit small for-profit businesses impacted by the novel coronavirus pandemic.

The programs are designed “to further economic development, preserve employment opportunities for Lake County residents, and preserve the operations of small businesses during a time of need and emergency.”

The board budgeted $700,000 for the programs via the Community Development Block Grant funds through the federal CARES Act.

To date, the commissioners have approved 98 applications and distributed over $602,000 of relief in 16 of Lake County’s 23 communities. Over 50 of those applications were for women-owned or minority-owned businesses.

“We are committed to providing whatever assistance we can to our small businesses, as they are the backbone of our community,” said Commissioner John R. Hamercheck.

The board concurred that small businesses have encountered “significant economic impacts since the onset of COVID-19, including issues with cash flow and resources to support their workforce….and that the business relief efforts have enabled small businesses to address the short-term impacts of the crisis.”

Despite the current difficulties, businesses utilizing the county’s programs have reported “success stories,” the board stated.

According to the commissioners, the Microenterprise Emergency Relief Grant Program is designed to provide grants for working capital of up to $5,000 to small for-profit businesses with five employees or less that have been impacted by COVID-19.

Eligibility for the program is tied to job creation or retention; ownership by a low-to-moderate income household or documenting at least 51 percent of low-to-moderate income employees; or the business being located within a low-to-moderate income area of the county.

The Emergency Working Capital Loan Program is designed to provide loans of up to $20,000 to small for-profit businesses with 25 employees or less that have been impacted by the pandemic.

“We continue to solicit participation from our business community and encourage them to visit the emergency relief loan fund website for additional information,” said Commissioner Ron Young.

The program is designed to quickly and strategically disburse resources through a streamlined online portal, noted Commissioner Jerry Cirino.

The programs are complimented by Gov. Mike DeWine’s recent announcement of a new CARES Act package to provide assistance to, among others, businesses with less than 25 employees, community action agencies and restaurants and bars. Information on these programs may be found at businesshelp.ohio.gov.

“When we put this program together, we did it as quickly as possible to make the emergency funds available to the community,” said Rhea Benton, assistant director, Lake County Planning and Community Development.

Benton thanked Sara Bals, executive director of the Lake County Development Council, and the group’s members for helping with the program’s marketing strategy.

Lake County Chambers Of Commerce also facilitated in getting information out about the program to business members, Benton said.

Tim Cahill, director of public finance and controller of the Lake County Ohio Port and Economic Development Authority, Amy Sabath of Lakeland Community College and Perry Township Trustee Bob Dawson, making up the body’s review committee, contributed in overseeing applications.

Betsy Figgie and Margaret Brafchak of Your CFO Resource were also instrumental in expediting and rewarding funds, Benton noted.

“We contracted with this company to help us take in the applications,” she said. “When we put…