Starting or growing a business can be challenging. To help, the City of Shaker Heights offers small business grants and business loans – the Shaker Vision Fund, a forgivable loan program, and the Shaker Partnership Loan, a supplemental equity program for small businesses that’s funded by Cuyahoga County, the Small Business Administration (SBA,) and participating municipalities.
These programs make it easier for entrepreneurs to do business in Shaker while creating attractive opportunities for business owners who wish to locate outside of Cleveland. What’s more, applying for these programs is straightforward, enabling entrepreneurs to focus on their businesses, not on paperwork.
The Shaker Vision Fund
Targeted to established, growing businesses ready to move into office space in Shaker Heights, the Shaker Vision Fund offers a forgivable loan for tenant improvements and equipment purchases based on income/payroll taxes the City will collect over a three- to five-year period.
The Shaker Partnership Loan
The Shaker Partnership Loan is a new loan program created in partnership with Cuyahoga County and the Small Business Administration (SBA). The program is available to Shaker Heights businesses that qualify for an SBA loan.
- Businesses will contribute 10 percent equity for the loan
- City of Shaker Heights and the County will contribute the other 15 percent of equity as a forgivable loan
- Small business owner will then be able to qualify for an SBA loan for the other 75 percent of project proceeds
Download an SBA Brochure.
Visit the online home of Shaker Life magazine.