SBA Financial Grants! City Of Euclid, OH & Cleveland Neighborhood Progress Partner!
The City of Euclid has partnered with Cleveland Neighborhood Progress to establish a COVID Business Assistance Program to support businesses impacted by COVID-19. The program offers financial support in the form of grants and technical assistance for small businesses within the City Euclid.
Grants provided under this program are intended to provide working capital for business related expenses, including payroll, accounts payable, fixed costs, inventory, rent, and utilities. Businesses will be evaluated for funding based on eligibility metrics and need.
- One-time grants of up to $3,000
- One-on-one financial coaching and counseling made available by Community Financial Centers (CFC), a third party service provider. Each grantee will have the opportunity to receive a financial health assessment and to work one-on-one with their coach to map out a financial action plan to set goals and track progress.
- Referrals to other small business support services and technical assistance providers.
- Applications must be submitted online by Monday, September 14th, 2020 at 11:59pm.
a relief fund for clients located in Euclid. Click here to learn more or apply
- Business must have less than 25 employees
- Businesses must currently occupy a commercial space in Euclid (i.e. Assembly, Business, or Mercantile use classification as defined by the Ohio Building Code).
- Eligible applicants must provide documentation to verify a revenue loss of at least 20% since March 15, 2020 due to COVID-19.
- Eligible applicants must demonstrate that the grant funds will not result in a duplication of benefits received through other public financial assistance programs (e.g., Round 1 or 2 of Cuyahoga County Small Business Stabilization Fund, Payroll Protection Program, Economic Injury Disaster Loans/Grants, etc.).
- Grant funds may be used for business expenses such as rent, mortgage, utilities, payroll, personnel protective equipment, cleaning products, protective barriers, and other building/site alterations that may be needed as a response to COVID 19.
- Business must have less than $1 Million in revenue.
- Business must have been in operation for at least one year.
- Business must have a plan to re-open within one calendar year if operations have been suspended.
- The business itself, and the business owner, may not own real property in Cuyahoga County with delinquent real property taxes totaling more than $1,000.
Ineligible businesses include:
- Home-based/home occupation businesses.
- Adult entertainment, banks, financial services, e-commerce, liquor stores, tobacco stores, cannabis dispensaries, and franchises which are not locally owned and independently operated.
For more information, please call the City of Euclid Department of Planning and Development at 216-289-2830