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 the City of Shaker Heights.
These programs make it easier for entrepreneurs to do business in Shaker. 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 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, improving loan-to-value and leverage, decreasing risk, and facilitating business expansion.
- Businesses will contribute a minimum 10 percent equity for the loan
- City of Shaker Heights and the County will contribute the other 15 percent of equity as a performance grant
- The SBA loan will encompass 65-75 percent of the total project
Download an SBA Brochure.
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