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Tuesday, March 24, 2020

Lakewood Launches Small Business Rent Relief Fund For Local Businesses Struggling During COVID-19

Posted By on Tue, Mar 24, 2020 at 11:59 AM

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As we continue through the second week of the shutdowns and economic effects of the coronavirus pandemic, the city of Lakewood has announced the creation of a small business rent relief fund to "support the vibrancy of Lakewood’s commercial corridors” during the crisis.

“In addition to the federal and state programs available to support small businesses, this program aligns with the City’s Community Vision in its goal to strengthen economic development efforts to increase commercial occupancy,” said a statement announcing the fund.



Supported by the City’s Economic Development Fund and federal Community Development Block Grant (CDBG) funds, businesses can apply for grants of up to $3,000 to cover rent payments for one month.

“The City along with our partners, LakewoodAlive and the Lakewood Chamber of Commerce, is committed to serving as a trusted resource and partner for our local business community during these challenging times,” said Mayor Meghan George in a statement. “The Small Business Rent Relief Fund is one of the steps we are taking to help ease the burden of the COVID-19 pandemic on Lakewood small businesses. Our locally owned businesses are the backbone of our community and we will continue to do all we can to support them.”

The rules for the fund state that businesses must be operating out of a commercial or retail storefront located in Lakewood, Ohio with fewer than 50 employees. Businesses must also be experiencing negative impacts from COVID-19. Home based businesses do not qualify.

Go to onelakewood.com/covid19businessresources to apply.

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