The Storefront Renovation Program (SRP) offers technical, design and financial assistance to commercial property owners whose retail (storefront) buildings are located in 27 City-approved “Target Areas.” -more
Economic Development Loan Program
216.664.3612 - Weekdays 8 am to 5 pm - 601 Lakeside Ave., Room 210
Designed to help companies from across all industries grow and prosper, this program offers long term, fixed-rate financing at 4% interest. This provides a lower debt service on overall financing and can help a company aggressively pursue and execute on their growth strategy.
Loans for the ED program range from $35,000 to $500,000 and cannot exceed 40% of the total project's cost. Terms are typically 5-7 years on equipment and up to 15 years on land and building.
Borrowers are encouraged to use this program in association with other private and public funds in order to achieve optimal financial leveraging for their organization. The City will take a subordinated collateral position to a private lender, provided there is adequate collateral.
Neighborhood Retail Assistance Program
216.664.3720 - Weekdays 8 am to 5 pm - 601 Lakeside Ave.
The Neighborhood Retail Assistance program or ‘NRAP’ program is structured to provide grant and loan assistance (up to $40,000) to small retail-related businesses and targets projects which will upgrade the exterior appearance and feel of retail districts. These projects include landscaping, lighting and signage, enhancements which have proven to have a positive effect on the economic vitality, vibrancy, and image of a community. All NRAP applicants must have a letter of support from their community Development Corporation (CDC) and their councilperson.
*When locating near a CDC boundary it is a good idea to call the CDCs to confirm which CDC covers that area.
Vacant Property Initiative Fund
216.664.2406 - Weekdays 8 am to 5 pm - 601 Lakeside, Room 210
These loans are designed to overcome barriers to the re-use of abandoned, idled or underutilized commercial and industrial properties. Eligible applicants include private developers and businesses, and non-profit CDC’s. -more
Cleveland City Hall 601 Lakeside Ave Cleveland, Ohio 44114 Weekdays 8am-5pm