MILLERSPORT, Ohio (AP) — The state has started taking applications for grants and loans to help businesses near central Ohio’s Buckeye Lake that have lost revenue while the water is kept low and a deteriorated dam is replaced.
The application process started Tuesday. Rep. Tim Schaffer, of Lancaster, says the Ohio Development Services Agency will consider applications on a first-come, first-served basis.
Businesses must be able to show that revenue dropped by at least 40 percent in 2015 from 2014. They can apply for grants to compensate for up to half of their losses, up to a maximum of $10,000, and for no-interest loans up to $20,000 for up to seven years with no collateral required.
Businesses can apply for a loan and a grant, but can’t receive both.