Small Business Resources | The City of Lakewood, Ohio

Small Business Resources


  • Lakewood Small Business Grant Program+-

    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 capped at $50,000 per project and 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

     

     

  • Lakewood Art Mural Program+-

    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) 

  • StartUp Lakewood+-

    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.