Commissioners approve fourth round of business grants

Lorain County commissioners approved grants Nov. 12 for an additional 27 small businesses in the county as part of program to get much needed capital into the hands of those in need.

Administered through Lorain County Community

Development, $132,000 in grants of up to $5,000 were distributed out of a $750,000 package from CARES Act funding.

Community Development Director Don Romanchak said the department has received 158 applications, with 24 arriving in the past week.

More than 50 percent are women- owned businesses along with a large number of minority-owned businesses, Romanchak said.

Lorain County is set to make another round of distributions Nov. 18 with about $271,000 left in funding.

“This program appears to be achieving what we had hoped it would achieve, and that is to help the truly small businesses get through this tough time; businesses that don’t have a strong cash balance, probably, and don’t have much access to banking or a strong banking relationship,” said Commissioner Matt Lundy. “We’ve got to remember that a lot of this country’s economy is built on small business, and too often, they get left out of it.”

The surge in novel coronavirus pandemic cases in

Ohio has many in the business community worried about the potential impact of another shutdown, Lundy said.

The grants can provide a bridge enabling small businesses to get through this difficult period and covering their fixed costs, he said.

Romanchak said in working with small businesses through administering the grant program, he has seen the impact it has had in providing a lifeline to help businesses get through the winter.

“I’m very thankful that you as a board identified this as something that was vital to our local community,” he said. “It is well appreciated, much needed, and it will allow us to come out stronger on the other side of this.”