Economic Impact Update
Additional Help Available
As we continue through the Pandemic, there are many resources available to help assist individuals and businesses through these times. We want to make sure you are aware of the options
that might be available to you.
Governor Mike DeWine and Lt. Governor Jon Husted recently announced a package of more than $419.5 million in CARES Act funding to help Ohioans and up to $5
billion in dividends for Ohio employers to ease the continued financial impact from the COVID-19 pandemic.
These opportunities and other resources available through the Office of Small Business Relief and Development can be
found at businesshelp.ohio.gov.
CARES Funding: Applications Now Open
Small Business Relief Program: The package includes $125 million in CARES Act funding to
provide grants to small businesses with no more than 25 employees. The grant funding will help businesses pay for a variety of expenses, including mortgage or rent payments; utility payments; salaries, wages, or compensation for employees and contractors; business supplies or equipment;
and other costs. The application for the Small Business Relief Program is now available at businesshelp.ohio.gov.
Bar and Restaurant Assistance Fund: The administration will also designate $37.5 million of CARES Act funding for the Bar and Restaurant Assistance Fund. This fund will be available for Ohio restaurants and bars
struggling financially as a result of the COVID-19 pandemic and limited in the full use of their liquor permit.
Businesses with an on-premise consumption permit will be eligible to receive $2,500 per unique business location. Businesses need to have an active on-premise
permit as of close of business October 23, 2020. Starting today, permit holders can apply for assistance at businesshelp.ohio.gov..
Home Relief Grant: The administration is allocating $50 million from the Coronavirus Relief Fund to 47 Community Action Agencies to provide rent, mortgage, and water
and/or sewer assistance to Ohioans in need. This assistance will help Ohioans pay outstanding balances back to April 1, 2020.
Ohio households behind on their bills with an annual income at or below 200% of the federal poverty guidelines will be eligible for assistance. For a family of four,
that is an annual income up to $52,400. Starting today, Ohioans can apply for assistance through their local Community Action Agency. A list of agencies can be found
Governor Mike DeWine and Lt. Governor Jon Husted requested that the Ohio Bureau of Workers’ Compensation (BWC) send up to $5 billion in dividends to Ohio employers to ease the continued financial
impact from the COVID-19 pandemic. BWC’s Board of Directors met on Monday, November 2, 2020 to vote on this special request.
If approved by BWC’s Board of Directors, it would bring the total dividend dollars for employers this year to nearly $8 billion.
The $5 billion dividend would be BWC's third dividend of more than $1 billion this year, and the largest one-time dividend ever issued by the BWC. BWC distributed $1.54 billion in April and $1.34 billion in October.
At $5 billion, this dividend is approximately four times the total premiums BWC collected from its employer members in policy year 2019.
Liberty National Bank is committed to helping our customers and communities. If you find your family or business in need of guidance or assistance, please do not hesitate to reach out to your local branch.