Cincinnati USA Regional Chamber

RESTART Task Force

How to Get Help from SBA

The most important thing businesses can do is call your existing bank for support.

As businesses across the country work to apply for loans through the SBA’s Paycheck Protection Program, the Cincinnati USA Regional Chamber's RESTART Task Force, in collaboration with the Cincinnati Business Committee and Cincinnati Regional Business Committee, under the leadership of Fifth Third Bank Chairman, President and CEO Greg Carmichael, assembled the leaders of nearly every major bank in the region to discuss how to ensure Cincinnati region businesses get access to as much of the available capital as possible. 

We are here to guide you on how to get funding to keep your business thriving. Check back frequently as we are continuously adding to this site with more information and helpful resources.

THE BASICS

 

PAYCHECK PROTECTION PROGRAM (PPP)

ECONOMIC INJURY DISASTER LOAN (EIDL) – DIRECT LENDING

Who is Eligible

Basic Eligibility

  • Applicant was in operation on 2/15/2020 AND
  • Had employees for whom it paid salaries and payroll taxes OR paid independent contractors

Other eligibility criteria applies

Businesses directly affected by COVID-19

  • Small Businesses
  • Most private non-profit organizations, Agricultural cooperatives & Aquaculture businesses
  • Must be physically located in declared state due to COVID-19

MUST qualify under SBA size requirements

Max Loan Amount

  • Up to $10,000,000
  • Max 2 Year Term

Calculation based on Payroll Expenses

  • Up to $2,000,000
  • 30 years

1st 12 months of payments are deferred

Loan Purpose

  • Payroll costs;
  • Mortgage Interest / Lease Payments;
  • Utilities;
  • Interest on other debt;
  • Refinance prior disaster loans (prior to COVID-19)
  • Working capital
  • Payments on fixed debts, payroll, accounts payable, and other bills that could have been paid had COVID-19 not occurred

Borrower MUST retain receipts and documentation of expenditures for a period of 3 years

Forgiveness Available

Yes, if borrower can prove qualified activities

No

How to Apply

Local Financial Institutions

Call your existing bank to apply for SBA PPP loans. Below is a selected list of some of the regional banks who are participating.

Applications Direct to SBA

RESOURCES

US Treasury Assistance for Small Businesses  
US Chamber of Commerce Coronavirus Emergency Loans Small Business Guide
Cincinnati Chamber Business Response Helpline

PARTICIPATING BANKS

2018_LOGOBankofAmerica cbankv2   Chase 2018_FirstFinancialBank140x50 
 heritagebank 2019_LOGOHuntingtonBank   2018_FifthThirdLogo160x45  ParkNationalBank_v2
 2018_PNC140x40  StockYardsBankv2 Truistlogo  2018_usbank150x38
 KeyBank
   
View Ohio SBA Lenders 
View Kentucky SBA Lenders
View Indiana SBA Lenders
View SBA Lenders within 16 County Cincinnati Region



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