Tiffin, Ohio — The City of Tiffin announced Thursday that the application process for the Tiffin CARES Small Business Relief Program, which provides small businesses in Tiffin with financial relief from loss of revenue caused by the COVID-19 pandemic, is to open at 12 p.m. Wednesday, Sept. 30, and close at 5 p.m. Monday, Oct. 12.
The program was approved by Tiffin City Council Sept. 8, 2020 and is being administered by the Tiffin-Seneca Economic Partnership. $600,000 is being allocated to the program.
Each applicant business must complete the online application during the application period at tiffincares.com. Paper applications will neither be available nor accepted.
Businesses with between two and 30 employees are eligible for grants up to $6,000 and businesses with less than two employees are eligible for grants up to $3,000.
Announcements of funding are to be made on or before Wednesday, Oct. 21, 2020. If there are more eligible requests than available funds, the winners will be drawn by lottery.
Tiffin Mayor Aaron Montz was excited to make the announcement, saying, “We continue to stand by the many small businesses in our city severely hurt by the coronavirus. The release of more CARES funding at the beginning of this month has given us a unique opportunity to help them in a real, tangible way.”
Certain eligibility requirements apply, including:
- Business must be a for-profit business.
- Business must have a federal tax identification number.
- Business must be located in the city of Tiffin.
- Business must have a storefront or eligible home office.
- Business must have been established prior to Jan. 1, 2019.
- Business must be operational at time of application.
- Business must have between one and 30 employees. Employees are defined as those working more than 20 hours per week and provided a W-2 and/or 1099 at the end of the year and/or principal owner, sole proprietors, or partners.
- Business can be a sole proprietorship, partnership, corporation (S or C), limited liability company, limited partnership, or limited liability partnership.
- Business must be current on all local, state, and federal tax obligations.
- Business must be complaint with all other local, state, and federal laws, regulations, and requirements.
- Business cannot be in bankruptcy or receivership.
- Business must attest that they have had at least a 15 percent decline in revenue.
- Business must have more than $15,000 and less than $2 million in gross revenue.
- Business cannot have received any business interruption insurance payments for coronavirus.
All expenses must be related to the costs of business interruption caused by required closures or that the business faces uncertainty as to its ability to pay due to the pandemic, and that are deductible as ordinary and necessary business expenses under the U.S. Internal Revenue Code. Any expenses already covered by a Paycheck Protection Program Loan or Economic Injury Disaster Loan are not eligible. Eligible expenses include the following:
- Mortgage payments for principal places of business; permanent residences excluded.
- Rent or lease payments for principal places of business; permanent residences excluded.
- Utility payments (electric, gas, sewer, water, trash removal) for the business’s principal place of business.
- Vehicle and equipment lease or rental payments for personal property acquired on or prior to March 15, 2020.
- Salaries or wages of all employees employed by the business.
- Personal Protective Equipment (PPE) or other COVID-19 expenses related to compliance with Responsible Restart Ohio.
- Other costs related to interruption of the business caused by required closures, including the closure of the business’s suppliers and/or customers.
- A portion of the lost sole proprietor income. (If the sole proprietor filed IRS Form 1040 and Schedule C thereto for tax year 2019, then the sole proprietor can use the grant funds to pay the sole proprietor the equivalent of up to 1/6 of the net profit reported by the sole proprietor on line 31 of the applicable Schedule C.)
- All expenses reported as being paid using Tiffin CARES funding must be incurred by the business or paid by the business on or after March 15, 2020, and on or before Dec. 15, 2020.
There are three ways to get more information on the program.
- To obtain a copy of the program guidelines, find out more information, and apply, please visit tiffincares.com.
- Additionally, questions can be sent to firstname.lastname@example.org, where a response will be provided within 24 hours and posted to a Frequently Asked Questions page at tiffincares.com.
- Third, a series of public, online meetings are planned. Login at https://global.gotomeeting.com/join/387356973, or call (224) 501-3412 with access code 387-356-973. These will be recorded and made available for viewing at tiffincares.com. Meeting times are:
- Friday, Sept. 25 at 3 p.m.
- Tuesday, Sept. 29 at 2 p.m.
- Thursday, Oct. 1 at 7 p.m.