Lakewood's Small Business Rent Relief Program Comes To Close

LAKEWOOD, OH — Lakewood's Small Business Rent Relief program came to an end this month. The city awarded 118 grants to small businesses through the program, worth a total of $187,492.

"We understood at the very beginning of this pandemic that the public health crisis was only half of the equation—the economic fallout would be severe. Lakewood is so proud of its small businesses and Shop Local mentality. Unfortunately, our small businesses are vulnerable to the kind of disruption or total shutdown that has resulted from the pandemic," said Mayor Meghan George.

Applications to the rent relief program were accepted until March 27. The program reimbursed one month's rent to businesses in an attempt to mitigate the economic impact of the new coronavirus pandemic in Lakewood.

The program allowed for a maximum reimbursement grant of $3,000. The program was open to businesses running a commercial or retail storefront in Lakewood. The Small Business Rent Relief grant program was supported using the economic development budget and from Community Development Block Grant funds, the city said.

“The Small Business Rent Relief program was a welcomed resource for us. We didn’t need to borrow as much from lenders for a retail store that has zero income currently coming in to pay our mounting bills. Add the fact that banks are backlogged with everything going on, and their lobbies being closed, the relief was so very helpful," said Allen Singleton of Apple Jax Toys.