Get a Grant or Loan from the City of Cleveland
Post date
May 05, 2020
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By Robert Higgs, cleveland.com
Mayor Frank Jackson laid out plans Monday for nearly $30 million in aid for Cleveland businesses as they cope with the impacts of the COVID-19-coronavirus.
The business relief money, $10.5 million in total, tentatively will be broken into three pots:
- $5.5 million for restoring working capital. Large Companies with 30 or more employees would be able to borrow up $100,000; smaller companies up to $25,000. Money could be used to cover uncollected receipts, utilities, rent/mortgage and payroll.
- $3 million for emergency working capital. This separate loan program would provide up to $10,000 to small businesses to address cash flow issues and pay business costs.
- $2 million in emergency capital for specially affected. Money can be used to address business costs and pay for items such as personal protective equipment for workers