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‘Stabilization fund’ established to assist small businesses in Cuyahoga County: How you can get some of the money

The program has raised more than $4 million to date.

CLEVELAND — “Small businesses are the lifeblood of our community. They’re the lifeblood of our economy.”

Those are the words of Cuyahoga County Executive Armond Budish.

As businesses and workers throughout Northeast Ohio fight to overcome financial instability during these unprecedented times, county officials have launched the “small business stabilization fund” to help.

“This is a community collaboration,” Budish said.

To date, the small business stabilization fund has raised more than $4 million with additional money coming in. This program will make grants available to businesses with up to 20 employees, while loans will be available for businesses that have up to 500 employees. Grants will be worth up to $5,000; Loans will be worth up to $50,000.

Any small business looking for help, can call the county’s small business resource center at 216-452-9714 or online by visiting CuyahogaCounty.us/HelpForBusiness.

Budish said the resource center has received approximately 400 calls from small businesses within these last few weeks.

This financial assistance comes as Ohio continues experiencing record unemployment numbers, with more than 855,000 new claims during the last four weeks.

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