Equipment Loan Program
The Equipment Loan Program offers long-term fixed-rate financing. The minimum interest rate will not be less than the lower of four percent or 75% of the prime rate listed in the Wall Street Journal. Loans can be up to $500,000, however the maximum City participation is 33.3% of total project cost. Loan terms are typically 5-7 years on equipment.
Eligible applicants are for-profit businesses who are creating or retaining jobs within the City of Cleveland.
Applicants must show that traditional bank financing is not available; or not available in the amounts needed; or at terms the company cannot afford to do the project.
For complete program details and eligibility requirements, please download the Equipment Loan Program brochure.
To apply please fill out our application.