Anthony Stella is a project coordinator with the small business section of the City of Cleveland, Department of Economic Development. He has worked in the Department of Economic Development since January 2012 and he has been assisting small business owners with establishing or expanding their business in the City of Cleveland. Stella helps entrepreneurs and small businesses in his role with the Department of Economic Development and by serving on the Loan Review Committee for the Economic and Community Development Institute (ECDI), a micro-lender. The Urban Retail Solutions Conference was on June 20, 2013 at the Ariel International Center located at 1163 East 40th Street, Cleveland, OH.

1. Financial resources
for retail businesses
in the City of
Cleveland
June 20,2013
The City of Cleveland
Department of Economic Development

2. Neighborhood Retail
Assistance Program
 Started in 2006 to address
retail needs in Cleveland
neighborhoods
 Program goals include:
 Fostering
entrepreneurship
 Improving economic
vitality, vibrancy and
image of neighborhoods
 Job creation (small
businesses create more
jobs than any other
segment)

3. Neighborhood Retail
Assistance Program
 Provides GAP financial assistance to
small retail businesses and restaurants
in Cleveland
 Assistance provided to developers with
retail projects or directly to retail
businesses
 Up to $40,000 at 3% interest / partial
forgiveness with green or sustainable
elements

4. Neighborhood Retail
Assistance Program
 Eligible uses:
 Construction/renovation
 Machinery/Equipment
 Furniture/ Fixtures
 Signage

5. Vacant Property Initiative
Local Parking Needs
 Forgivable loan
available to business
owners, Community
Development
Corporations (CDC’s)
and retail developers
 Established to address
parking needs in urban
neighborhoods
 Parking must be open
to the public

6. Vacant Property Initiative
Local Parking Needs
 $70,000 maximum
forgivable loan
 Up to 25% of
parking project
cost
 Landscaping and
green elements
encouraged

7. Storefront Renovation
Program
 Rebate program through
Department of Community
Development
 Projects in Retail Target Areas
are eligible for 40% rebate up
$25,000
 Exterior construction costs only
 Free design assistance
provided for exterior
renovations

8. Storefront Renovation
Program
 Program benefits:
 Bringing storefronts into Code compliance
 Renovation of architectural and/or historic
details
 Improves shopping districts in the City

9. Economic and Community
Development Institute
 Non-profit economic development organization
 Founded in 2004 in Columbus, Ohio
 Entered Cleveland market in 2012
 Microloans for startup retail up to $50,000
 Up to $150,000 for existing businesses

10. Economic and Community
Development Institute
 Business plan assistance available
 6 week business training offered
 Contact information:
(216) 912-5655
www.Cleveland.ECDI.org

11. Growth Capital
 Non-profit providing SBA financing
 Retail funding available through Community
Advantage Program
 Loan amounts from $50,000 - $250,000
 Eligible uses:
 Acquisition of owner-occupied building
 Construction/ Renovation
 Machinery/Equipment; Furniture/Fixtures
 Inventory, Working Capital
 Refinance

12. City of Cleveland