Municipal Small Business Initiative
Partnering with U.S. Small Business Administration and Cuyahoga County, this performance grant allows businesses to reduce their equity in a SBA funded project from the required 25% to 10%. The City provides a grant of 15% which is funded half by the City and half by the County. The goal of this grant is to leverage financing to benefit small businesses in the creation of jobs and opportunities in the City of Cleveland. During the process the Department of Economic Development will facilitate an initial application with the SBA. Projects must create one permanent full-time job for every $35,000 in City funds.
For complete program details and eligibility requirements, please download the Municipal Small Business Initiative brochure.
To apply please fill out our application.
Success Story: Geiger's Downtown
Charley Geiger’s Haberdashery, Inc. dba Geiger’s is a long-standing, family-owned retail business that has operated since 1932. Geiger’s, currently located in both Lakewood and Chagrin Falls, sells casual apparel, as well as technical gear for snow sports, hiking, and travel adventuring for men, women and children. In November of 2015, Geiger’s opened a third location in downtown Cleveland in the historic Ivory Building at 1020 Euclid Avenue. Their presence has absorbed 4,200 square feet of space that was previously vacant for 10 years and has revitalized retail shopping for the residents, businesses and tourists of Cleveland. The City of Cleveland provided a recoverable grant in the amount of $41,250 through the Municipal Small Business Initiative Program to partially fund a total project of $435,000. Funds were used for construction/renovation, acquisition of equipment, furniture & fixtures and other eligible project costs associated with the project.