Monroe CIS Funds 7 Local Businesses
Friday, January 8, 2021 3:47:11 PM - Monroe Ohio

The Community Improvement Corporation met several times to review Monroe CARES small business applications. the Board of Trustees determined that there could be more opportunities to serve the business community than what
the submitted applications represented, and so the CIC launched a 48 hour “lightening round” to reach out to more
businesses.

Additionally, the CIC’s Board evaluated the potential program applications with the amount of funding available (through the City and Butler County) and increased the City-funded grants to $5,000 (bricks and mortar) and $2,500< (home occupations). The County’s funding continued to be limited to $10,000 per award. The Board also adjusted the< program requirements to be more inclusive of companies that have invested in Monroe and showed a reasonable business model. The Board voted to use County CARES money wherever possible in an effort to keep Monroe’s CARES funding more flexible for City needs.

The following Monroe businesses received funding:

1. $223.50 to Abacus

2. $5,000 to Clubhouse Sports Grille (did not qualify for County CARES funds due to having too many employees)

3. $15,000 to EICK Global Stem Academy ($10,000 from County CARES funds and $5,000 from City CARES funds)

4. $572.05 to Housh – The Home Energy Experts

5. $3,990.81 to Martinez (M&M) Dental

6. $1,733.22 to Richard’s Pizza

7.  $6,547.68 to Fantasy Diner

It’s also interesting to note that the awarded projects involved between $400 - $500 of items that these businesses had purchased locally (cleaners from Family Dollar, gloves from Presto Foods, supplies from Sterling Distribution, Carr Supply and Corken Steel). Several businesses reached back out with sincere appreciation for the support.

The unused Butler County CARES funds that were accepted by City Council specifically for economic development ($64,056) will be returned to Butler County. Unused City CARES funds from the initial $50,000 allocation to the CIC may be used towards 2021 economic development projects that support pandemic-related economic development projects if the extension provision made it through the federal stimulus package.

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