The Lakewood Small Business Grant Program (SBPG) offers local business owners and entrepreneurs seeking to locate in/relocate to the City a 100% forgivable loan up to 15% of total start-up or expansion project costs. Funding is scaled to fill the gap between total project costs and the sum of 75%+ SBA-financing and the business owner’s required 10% equity contribution.

Requirements

• Minimum 10% owner equity contribution
• Minimum 75%+ SBA loan financing
• SBA Small Business Development Center (SBDC) consultation
• New Job creation & reporting

Loan Terms

• Forgiven over 3-5 years
• 0% interest
• No payments

Eligible Uses

• Leasehold improvements
• Real estate acquisition
• New construction
• Exterior building improvements
• Signage
• Selected equipment

*other uses considered on a case-by-case basis

Application Evaluation Criteria

• # full-time equivalent jobs created
• Return on investment (e.g. annual payroll * 1.5% municipal income tax rate)
• Repayment period (# years to repay grant via payroll taxes)
• Owner/entrepreneur’s experience & track record
• Neighborhood/commercial district & overall economic impact

Get started by completing the SBPG Intake Form!

For additional information contact  Dan Wyman @ 216.529.7680 / daniel.wyman@lakewoodoh.net. 

The Commercial Property Revitalization Program offers up to $30,000 in grant assistance for the renovation of Lakewood storefronts. For more information contact the Department of Planning and Development at (216) 529-HOME (4663) or send an email to dcd@lakewoodoh.net.

Please review the this Program Summary before applying.  Businesses meeting the qualifications outlined in the summary should apply online by clicking here.

Note: Assistance is not available for projects where construction is already underway or completed.

The goal of the Lakewood Art Mural Program (LAMP) is to energize private investment in quality public art in the form of murals that will enhance our commercial corridors and create a sense of place.

If you are an interested artist or owner please see the proposal instructions at the link below.

2018 Mural Program (LAMP) 

Help Lakewood’s community of soon-to-be entrepreneurs turn their ideas into business realities. Startup Lakewood Initiative is a program approved by the City of Lakewood, which is geared toward making Lakewood a more appealing place for entrepreneurs to build and grow ideas into legitimate businesses.

To get more information, or to find out how to get involved, email info@startuplakewood.com.