On April 1, 2020, Ohio Governor Mike DeWine signed an executive order urging lenders and landlords across Ohio to work with small businesses to temporarily suspend rent and mortgage payments for at least 90 days. The stated goal of the order is to prevent foreclosures during the coronavirus pandemic.
Whether you lease or hold a mortgage on your business location, you can discuss with your respective landlord and/or lender whether this recommended relief may be available to you. Please be advised that — together with small businesses — landlords and lenders are also working through this information and seeking solutions to the financial burdens created by this public health emergency. Answers may not be immediately available, and tenants, landlords and lenders should work together to find ways to provide temporary financial relief in these unprecedented circumstances.