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Business Resources for COVID-19

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At the Lakewood Chamber of Commerce, we’re continuing to monitor the development and the impact of the COVID-19 pandemic. Our goal is to continue to keep the business community up to date on these developments, without causing undo alarm or rehashing outdated or irrelevant information.

Latest COVID-19 Updates:

The City of Lakewood, LakewoodAlive and the Lakewood Chamber of Commerce are partnering to provide accurate information and resources for Lakewood businesses affected by COVID-19. This is a rapidly evolving situation and we will continue to update this page as new information becomes available.  If there are any questions or concerns, please contact one of the resources provided in the contacts list. 

5 New SBA Programs to help Businesses in the CARE Stimulus Package

This press release comes from the US Senate Committee on Small Business & Entrepreneurs. It looks like it may go to the house for a vote tomorrow (Friday, March 27, 2020). Click here to read the article

Ohio’s Stay at Home Order Effective March 23 at 11:59pm

The Ohio Department of Health has issued a Stay at Home order which becomes effective at 11:59pm on Monday, March 23, 2020.  Click here read the full order which explains the parameters of the order and lists all of the businesses and organizations that are permitted to stay open.  Click here to read the Ohio Department of Health’s FAQs regarding the Stay at Home order.

Business Emergency Funding:

City of Lakewood Small Business Rent Relief

The City of Lakewood is announcing the Small Business Rent Relief fund to support the vibrancy of Lakewood’s commercial corridors during the COVID-19 pandemic. In addition to the federal and state programs available to support small businesses, this program aligns with the City’s Community Vision in its goal to “strengthen economic development efforts to increase commercial occupancy.”

Grants up to $3,000 from the Small Business Rent Relief fund can be used to reimburse rent payment for struggling business during the COVID-19 pandemic. After the first month of the fund, the program will be evaluated based on the restrictions at the time and business needs.

APPLY HERE

SBA Economic Injury Disaster Loans available for Ohio Small Businesses:

Thanks to a concerted effort by our partners throughout the state, Ohio small business can now apply for SBA Economic Injury Disaster Loans (EIDL).

What’s an EIDL?

    • The SBA EIDL program can provide low-interest loans of up to $2M to businesses and private non-profits.
    • EIDLs may be used to pay fixed debts, payroll, accounts payable and other bills.
    • The interest rate is 3.75% for small businesses without credit available elsewhere. The interest rate for non-profits is 2.75%.
    • EIDLs have long-term repayment options, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based on borrower’s ability to repay.

How do I apply?

SBA Fact Sheet:

Unemployed Workers:

Ohioans are signing up for unemployment insurance benefits.  The wait times to sign up may be long so they are encouraging people to apply online: unemployment.ohio.gov. Please take a look at http://jfs.ohio.gov/ouio/CoronavirusAndUI.stm for some FAQs or you may contact the state at 877-644-6562 with questions or to apply.

Individuals who are quarantined will be considered unemployed and be able to apply for support. Companies who determine it is necessary to shut down operations due to the COVID-19 outbreak will also be able to apply for unemployment benefits. Additionally, the one-week delay for eligible workers to receive assistance will be waived.

Health & Safety Resources:

Financial Resources for Small Businesses:

Other Useful Information for Community Members and Small Businesses:

Please feel free to contact us directly with your questions, concerns or innovative solutions. Encouraging news and stories of good deeds are always welcome and appreciated!
Be good neighbors and stay well Lakewood!