Lake County Microenterprise and Working Capital Programs
Ohio Economic Development Association
Economic Recovery Best Practice Case Study
| Practice Name | Lake County Microenterprise and Working Capital Programs |
| Category | Grants and RLF for Small Business |
| Sector | Small Business |
| Organization | Lake County |
| Contact | Betsy Figgie, bfiggie@gmail.com, 216-570-9085 or Rhea Benton, Lake County Planning and Community Development; rbenton@lakecountyohio.gov; 440-350-2740. |
| Web Site | |
| Description | Microenterprise Emergency Relief Grant Program: Up to $5,000 in grant funding to businesses of 5 employees or less Emergency Working Capital Loan Program: Loans up to $20,000 to businesses with 25 employees or less |
| Partners | Lake County Lake County Development Council Lake County Commissioners |
| Outcomes | “meant to foster further economic development, preserve and create employment opportunities for Lake County residents, and support the operations of small businesses during a time of need and emergency.” |
| Other Criteria | 50% of employees must live in Lake County; Businesses who used PPP are NOT eligible; Must be located in Lake County; a variety of LMI and other criteria related to HUD requirements apply. |
| Process | See contacts above. |
| Links / Resources |
https://www.lakecountyohio.gov/Portals/0/PressReleaseBusinessAssistancePrograms_May2020.pdf https://www.lakecountyohio.gov/Portals/0/BusinessAssistanceProgramDetails_May2020.pdf |
|
Funding
|
$700,000 in CARES funding from HUD |