COVID-19: Paycheck Protection and Job Openings
What's being done in the state of Ohio
Paycheck Protection Program
Some businesses with fewer than 500 employees are eligible for assistance to keep employees on their payroll through the end of June. Under the Paycheck Protection Program, a small business can receive a loan of up to $10 million, with a two-year term and a 1 percent interest rate. The loans will not require collateral or personal guarantees. Most importantly, up to 100 percent of the loan can be forgiven if the funds are used to maintain employee payroll. Please note: this offering is not available to all nonprofit organizations so please discuss this with your CPA or legal counsel.
Banks have recently received guidance from the federal government and are currently working to get the program into place. Please visit SBA.gov for more information.
Last week, Governor Mike DeWine signed an executive order that seeks to provide some assistance for small businesses with mortgage and rent payments. The order asks lenders and landlords across Ohio to work with their small businesses and suspend payments for at least 90 days in an effort to avoid foreclosures.
Lt. Governor Jon Husted announced that the Governor’s Office of Workforce Transformation has developed a website specifically geared toward matching essential businesses with Ohioans who are able and willing to work as an essential employee during the COVID-19 crisis. Both essential businesses and current job seekers can visit Coronavirus.Ohio.Gov/JobSearch to post and search.
“If you are an employer who performs a critical service, please go to Coronavirus.Ohio.gov/JobSearch to post your open positions so we can help you fill them,” said Husted. “If you are a person who can work, please know that there are many who need you to help keep essential services running and we encourage you to do so, even if its only part time.”
The site features a highly-streamlined interface with only two main links – one for essential businesses, and one for job seekers. Applicants can search through jobs in their area, their region and the entire state.
The state has established the Ohio Manufacturing Alliance, a collaborative public-private partnership to coordinate efforts to provide healthcare workers and first responders with personal protective equipment (PPE). The alliance is working to identify and match the critical needs of Ohio’s healthcare system with companies willing and able to repurpose production to meet those needs.
Manufacturers that can help should visit RepurposingProject.com for more information. Those involved with this project will be compensated. The alliance includes: Ohio Manufacturers’ Association, Ohio Hospital Association, Ohio Manufacturing Extension Partnership, Manufacturing Advocacy and Growth Network, nursing home organizations, JobsOhio, Ohio Department of Administrative Services, Ohio Development Services Agency, and the Ohio Department of Health.
Anyone else with items to donate should email firstname.lastname@example.org.
STAY AT HOME ORDER
Last week, the Ohio Department of Health issued an amended “Stay-at-home” order for the state. The order is in effect until 11:59 p.m. on May 1, 2020, unless it is rescinded or modified. You can read the order here and find answers to frequently asked questions here.