The Minority Small Business Rental Assistance Program

Slide 2
A Path to Success: The Minority Small Business Rental Assistance Program Paves the Way for Minority-Owned Businesses to Thrive

The Applications opens on Wednesday, September 6, 2023, at Noon!

Slide 2
A Path to Success: The Minority Small Business Rental Assistance Program Paves the Way for Minority-Owned Businesses to Thrive

The Applications opens on Wednesday, September 6, 2023, at Noon!

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About the Program

Support for minority business owners in need of rental assistance is crucial for fostering economic equity and resilience. Many minority-owned businesses face disproportionate financial challenges, exacerbated by the COVID-19 pandemic. Providing rental assistance ensures their stability, preserving jobs and maintaining vibrant communities. Targeted initiatives, grants, and partnerships with local organizations can make a significant difference, empowering minority entrepreneurs to continue contributing to their communities and the broader economy. It’s an essential step towards addressing systemic disparities and promoting inclusive economic growth.

The Minority Small Business Rental Assistance Program has been crafted to extend relief and offer Technical Assistance support exclusively to Black and Brown Businesses currently facing hardships. The Rental Assistance Program has been designed to alleviate delinquencies, providing support for a cumulative period of up to three (3) months, with a maximum cap of $5,000, which includes the option of an advanced lease/rent payment for the third month. Award amounts will be determined based on Lease or Rent payments and months covered. Funds can only be used for Lease or Rent payments.

Award disbursements shall be made payable to the Landlord/Leasing agent. It is imperative that all documentation is diligently completed and signed, and all applications are required to have all documents submitted at the time of application submission. Incomplete applications will not be given consideration.

Technical Assistance is required for all applications. Each Applicant must meet or be interviewed by a designated Technical Assistance provided by GCMI.

Please be advised that the number of available applications is limited, and they will be processed in the order of their submission. Once the application limit has been reached, the application will be closed. Based on funding availability, additional application periods may be considered.

Applications Are Open

September 6th, at noon.

Applications will remain open until November 15th or until the applications have reached their capacity of twenty-five (25).

Programs Requirements

Rental Assistance Grant Eligibility:

  1. African American or Hispanic Owned Business (51%)
  2. For Profit Business
  3. In Business for 12 months or more
  4. Business is located within the City of Cincinnati Corporate limit
  5. Business is located in a commercial space
  6. Cannot be past due more than four (4) months in lease/rent payments
  7. Plans to maintain business in current space
  8. Statement of the post-COVID-19 economic conditions contributed to the reduction of revenues
  9. Business has revenues of $1,500,000 or less
  10. In good standing with the State of Ohio

Required Documentation for Rental Assistance Grant Consideration:

  1. Completed Application
  2. Secretary State of Ohio Good Standing Certificate
  3. A copy of your Driver’s License, Passport, or State ID
  4. 3 Months of Business Bank Statements
  5. 2022 Business Tax return and/or Personal Tax return
  6. Landlord/Leasing agent Signed Statement (Document Provided)
  7. Landlord/Leasing agent Signed Debarment Statement (Document Provided)
  8. Landlord leasing agent W-9 (Document Provided)
  9. Copy of the signed lease Agreement
  10. Record of a past due status anytime over the past three (3) months
  11. Statement of need completed

This application shall exclusively engage in discussions and correspondence with the applicant (the business owner) and not with the landlord or leasing agent. Awards shall be deemed eligible for retrieval solely by the business that has received the award. Proper identification and a signature shall be mandatory prerequisites for the retrieval process. It is important to note that the Rapid Tenancy and Rental Assistance programs bear no responsibility for any payments made directly to the landlord or leasing agents.

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