Commercial Bank Loans

Dollar Bank

Fifth Third


US Bank

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Cuyahoga County Loan Sources

  • Economic Development Loan Fund:
  • The Grow Cuyahoga County Loan Fund:
    The Grow Cuyahoga County Fund can make loans ranging from $100,000 to $1 million. The loans will generally be at rates of prime minus 2% to prime plus 2%, for terms up to 25 years depending on the proposed use of funds. Loan proceeds may be used for any legitimate business purpose, including working capital, machinery and equipment, acquisition of land and building, construction, renovations and tenant improvements. The Grow Cuyahoga County Fund does not provide venture capital and cannot provide funds for research and development or to satisfy equity or near-equity needs. The program provides economic development incentives that are not currently available in the community including working capital financing and the financing for retail and restaurants. For more information, visit:
  • MADE in Cuyahoga County Loan Fund:
  • North Coast Opportunities Technology Loan Fund:
    • Loans can be for $25K- $125K, with typical loans in the $50-75K range
    • Interest rate is 5% fixed for the term of the loan
    • Payments deferred for five years or until:
    • Significant financing event (greater than $1.5 million)
    • Sale of company or company assets
    • Failure to comply with terms of agreement (i.e. leaving Cuyahoga County)
    • Loan proceeds must be used for a specific project or initiative that will bring the company closer to achieving pre-seed funding.
    • Loan is secured by the personal property and assets of the company For more information, visit:


For more information or to schedule an appointment, contact our offices 216-281-4422 or
  • New Product Development and Entrepreneurship Loan Fund:
    The Cuyahoga County Board of Commissioners created the New Product Development and Entrepreneurship Program to assist entrepreneurs and small business in bringing innovative ideas to the marketplace. The program is administered by the Department of Development in partnership with the Manufacturing Advocacy & Growth Network (“MAGNET”) with common goals of encouraging innovation, supporting entrepreneurs, diversify, growing small businesses and creating manufacturing jobs in Cuyahoga County. The New Product Development & Entrepreneurship Program offers loans for three phases of product development: Product Feasibility, Concept Development and Engineering/Prototype Development. Up to a total of $115,000 can be awarded for the development of one product in three phases. For more information, visit: >

City of Cleveland

  • Economic Development Loan Program:
    Designed to help companies from across all industries grow and prosper, this program offers long term, fixed-rate financing at 4% interest. This provides a lower debt service on overall financing and can help a company aggressively pursue and execute on their growth strategy. Loans for the ED program range from $35,000 to $500,000 and cannot exceed 40% of the total project's cost. Terms are typically five to seven years on equipment and up to 15 years on land and building. Borrowers are encouraged to use this program in association with other private and public funds in order to achieve optimal financial leveraging for their organization. The City will take a subordinated collateral position to a private lender, provided there is adequate collateral. For more information, visit:
  • Working Capital Loan Program:
    This program is designed to assist businesses that have recently had their lines of credit cut. The company must show pending orders that require inventory purchase, have the ability to re-pay debt and be credit worthy. The City cannot refinance existing debt or fund speculative projects. The loans are for one year and may be extended for up to an additional two years if the company can show inadequate access to a bank line of credit. The loan will be deferred for 3 months and be amortized over 39 months at 4.25% fixed interest. Maximum loan amount is $200,000. Borrowers may pre-pay the loan without penalty. City participation is 33.3% maximum, and requires at least 10% equity participation. For more information, visit:

State of Ohio

For all State of Ohio Loan programs, visit:
  • 166 Direct Loan :
    Provides loans for land and building acquisition, expansion or renovation and equipment purchase.
  • Innovation Ohio Loan Fund Program:
    Provides loans for acquisition, construction, and related costs of technology, facilities and equipment purchase.
  • Ohio Capital Access Program:
    Encourages state chartered financial institutions to make loans to for-profit or nonprofit small businesses that are creating or retaining jobs by establishing a unique reserve account at lending institutions. The state, the lender and the business each make a small contribution to the account. The reserve account is available to the lender for recovery of losses associated with any loan the lender has enrolled in the program.
  • Ohio Enterprise Bond Fund:
    Provides loans for land and building acquisition, construction, expansion or renovation and equipment purchases for eligible businesses.
  • Minority Business Direct Loan Program:
    Provides fixed, low-interest rate loans to certified minority-owned businesses that are purchasing or improving fixed assets and creating or retaining jobs.
  • Minority Business Bonding Program:
    Provides bid, performance and payment surety bonds to state certified minority-owned businesses that are unable to obtain bonding through standard surety companies.
  • Regional 166 Direct Loan:
    Provides loans for land and building acquisition, construction, expansion or renovation and equipment purchases for eligible businesses. Twelve local economic development agencies administer the program.
  • Research & Development Investment Loan Fund Program:
    Provides loans commitment to research and development activities.