JobsOhio has worked swiftly and taken immediate action to provide assistance for businesses in Ohio. Please visit https://www.jobsohio.com/ohio-safe-ohio-working/ to learn more how JobsOhio is working with businesses through this pandemic.
Workforce Retention Loan Program
JobsOhio rapidly established the Workforce Retention Loan Program to provide qualifying JobsOhio client companies with financial support to help them to maintain employment levels during the COVID19 outbreak. Only JobsOhio existing client companies meeting certain defined criteria are eligible to participate, and JobsOhio has already notified the qualifying companies. The financing offered is an unsecured, forgivable, interest free loan allowing monthly draws to assist with payroll expense in support of employee retention. If the participating company retains its employees over a six-month period, the loan is eligible for forgiveness.
* Submissions are now closed to companies and JobsOhio is reviewing those submissions
Six-month deferral of payment on JobsOhio loans
In light of the significant impact COVID-19 has on the economy and business, and in an effort to support its borrowers, JobsOhio will be offering a 6-month deferral of payment of loans (no principal and no interest) for the nearly 50 companies that have executed loan agreements with JobsOhio. These are businesses that have committed to a total of 9,150 jobs and $521.7 million in payroll for the people of Ohio.