COVID 19 Economic Relief for Small Businesses
Update May 11, 2020
On March 20th, Mayor Graven set up a task force with Economic Development’s Tom Jordan to help businesses affected by the economic fallout of the COVID-19 outbreak. The City is aware that businesses have been feeling the impact of the Coronavirus since March. The City Administration will do everything it can to help our businesses to re-open and stay open. The Administration is committed to helping our businesses to be successful. Please review the enclosed additional emergency funding options for small businesses.
Mayor Graven will continue to look at immediate and long-term economic recovery strategies that will focus on supporting the success of our local businesses.
The Mayor and his Administration are developing and reviewing ideas for economic support and recovery.
Emergency Funding Options for Small Businesses List - Update 05/08/2020
Update: May 8, 2020
The City has been notified that the second round of the Small Business Stabilization funding has begun. This program assists small neighborhood-based businesses during the COVID-19 pandemic. Applications open today, May 8th at 9 a.m. and closes on May 15th at 5 p.m. The Small Business Stabilization Fund is funded in part by the Cleveland Foundation and administered by Cleveland Neighborhood Progress. Additional information is available at the Cuyahoga County Website: Small Business Stabilization Fund.
There is a “gold rush” on for small businesses to apply for their SBA Disaster Loans because only a limited number will be able to get the new grants up to $10,000.
The website is: https://www.sba.gov/page/disaster-loan-application
Small Business Administration to provide small businesses impacted by Coronavirus up to $2 million in Disaster Assistance Loans.
The Small Business Stabilization Fund has been created to assist small, neighborhood-based businesses throughout Cuyahoga County during the COVID-19 pandemic.
The Small Business Stabilization Fund brings together partners from across Cuyahoga County to support small businesses during the crisis. The program offers two types of financial assistance for small businesses: Stabilization Grants and Stabilization Loans.
“We are working to do everything we can for our small businesses—they are the lifeblood of our community and provide tens of thousands of jobs in the County.” – County Executive Armond Budish
The State of Ohio has created an Office of Small Business Relief to coordinate efforts on behalf of Ohio's 950,000 small businesses amid the coronavirus pandemic. The website also has information on unemployment benefits and answers on frequently asked questions on federal and state assistance. Please see attached link to their website for further information.
My administration continues to work with our regional partners to provide information during the COVID-19 Emergency. Cuyahoga County is providing up to date information to small businesses that need assistance during the COVID-19 pandemic through a new Small Business Center.
Cuyahoga County is working with regional partners to create a stabilization fund that can further support small businesses, but until funding is secure this hotline will assist in navigating the Small Business Administration resources. These resources include assistance with applying for the Small Business Administration (SBA) Economic Injury Disaster Loan (EIDL) for loans up to $2 million and Advance Grants of up to $10,000.
Visit www.cuyahogacounty.us/helpforbusiness to direct you to the County Business Resource landing page that lists all of the resources to support a business that we are currently aware of – this is updated daily.
The Call Center is available Monday-Friday, 8 am – 5 pm at 216-452-9741.
James P. Graven, Mayor