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My company wants to apply for a City Economic Development Loan for its project. How is that done and how long does it take?

April 26, 2017city COMPANY Development Economic loan project wants

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My company wants to apply for a City Economic Development Loan for its project. How is that done and how long does it take?

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Your company’s application should be submitted to the Department of Economic Development (601 Lakeside Ave., Cleveland, OH 44114) with a letter of support from the local councilperson. After staff review, the application is submitted to the Loan Review Committee which meets once a month. If approved by the committee, your business may begin the project immediately at its own risk, or may wait until funds are awarded.