AKERON, Ohio – It’s no secret that many businesses have been struggling since the pandemic began.
That’s why many city governments across the country are trying to help, including the city of Akron.
The city announced a new program to provide one-time $10,000 grants to qualifying small businesses. The program uses $1 million in American Recovery Plan Act (ARPA) funding.
For small business owners like Akron’s Peanut Shop owner Marge Klein, loans like these are critical to keeping her business afloat.
“People are working from home now, so we don’t have the lunchtime traffic that we used to have,” Klein said. “It was tough, but you know we have to do what we have to do. “We knew we wanted to come back,” he said.
This famous Akron store has been in business since 1933, but the owner has had a hard time these past few years.
At the time of the outbreak, Shoppe was closed for several months, and on top of that, major construction was taking place in front of her store in downtown Akron.
Klein had to use grants and loans to stay afloat.
“We take it one day at a time, one week at a time,” she said. “Just think it will be good.”
The program uses $1 million in American Recovery Plan Act (ARPA) funding. Applications open August 15 and must be completed by September 2, 2022.
City of Akron website To qualify, a business must meet the following criteria:
- Be a legitimate for-profit business;
- It should be placed in A qualified census tract. in Akron
- It must have between two and 50 paid employees (including full-time or part-time employees and owners who are actively involved in the business).
- Stay up-to-date on business income tax and property tax obligations with the City of Akron and Summit County
- Effective on or before January 1, 2020 in the City of Akron
- Must be able to explain how the business has been negatively impacted by reduced business activity or supply chain costs related to the COVID-19 pandemic or related public health restrictions and orders.
