Lakewood Expanding Small Business Grant Program

LAKEWOOD, OH — Lakewood has reopened its Small Business COVID-19 Assistance Grant Program.

The grant program provides emergency assistance to eligible Lakewood businesses. City officials said they are making $216,475 available in this round. Businesses can receive up to $7,000 to cover rent and payroll expenses. Grants will be awarded until the funds are used up.

“We initially created this program to get these desperately needed funds out to our small businesses in an efficient and useful way. Now, we are very excited that this program is expanding to include even more small businesses that have been affected by COVID-19," Mayor Meghan George said.

Any shop that has seen a reduction in revenue due to the pandemic, and has 50 or fewer employees, and at least one full-time worker is eligible for aid. Businesses that own their building can only apply for payroll relief.

"We have seen significant success with these funds to date and we know that this round will be crucial to so many business owners who continue to fight the financial impacts of the pandemic. Lakewood, once again, has set a high standard for the way a small government responds to the needs of its citizens," said Shawn Leininger, director of planning and development for Lakewood.

Qualifying businesses must meet the following criteria:

● Be physically located in the City of Lakewood
● Be in good standing with the City of Lakewood (i.e. no tax delinquencies)
● Have been established prior to March 22, 2020
● Employ fifty or fewer employees, including the business owner (1099/contact employees are
not eligible)
● Rent or own a retail or commercial space (home based businesses are not eligible)
● Provide financial documentation
● Have a DUNS number

The business owner must:
● Commit to retaining at least one (1) full-time equivalent position meeting HUD’s income
requirements
● Have been current with rent or mortgage prior to April 1, 2020
● Provide certified payroll sheets for all business employees (April 1st forward)

City officials can request additional documentation from applying businesses, change the requirements for the program or deny assistance. Assistance is not guaranteed to applicants.

Applications for the program can be downloaded from the city's website.

"We had hoped that by this time, the pandemic would be winding down and our local businesses would be starting to bounce back from its impact. Unfortunately, we are still in the middle of this once-in-a-lifetime crisis, but, amazingly, so many of our small businesses have been able to maneuver through this," George said.