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Business Investment Program/Economic Development Fund (EDF) | Lakewood City Of - Department Of Planning And Development

12650 Detroit Ave., Lakewood City Hall, Lakewood, OH 44107

Eligibility

Open to any legal business located in Lakewood or seeking to locate in Lakewood that provides a good or service for sale and has the demonstrated capacity to obtain credit on the private market under usual and customary terms.

Required documents

Detailed description of the project beyond submitted Business Plan Project cost summary and cost estimates Company's projected pro forma statements for the project Projections of additional and/or retained employment numbers, payroll amounts, and supporting information for the project Participation of other private and public-sector sources in the project Three years of historical Financial Statements (Balance Sheet, Income Statement, Statements of Cash Flow) Interim Financial Statements (not more than 90 days old) Personal Financial Statements, if applicable Information regarding job creation and/or retention.

Hours

M-F: 8:00am-4:30pm
https://www.lakewoodoh.gov/planning-and-development
[email protected]

Application process

There is open application. Call M-F: 8:00am-5:00pm to obtain details of the process.

Fees

Reimbursement of title costs, recording fees, and any other costs or fees including legal expenses necessary to close financing.

Service area

United States

Description

Provides low interest loans which will give needed and appropriate assistance and support to companies investing in Lakewood in order to foster redevelopment efforts, increase jobs, generate new tax revenue and provide for physical improvements in Lakewood.

Data provided by

211 Cleveland

Providing organization

Lakewood City Of - Department Of Planning And Development

Coordinates activities designed to retain existing businesses and attract new businesses to the city.