The City of Cleveland CDBG Small Business Stabilization Program is taking applications for forgivable loans up to $10,000 for small businesses with 25 or less employees that meet threshold requirements.
In response to COVID-19, the City of Cleveland is utilizing their CDBG CARES Act allocation to provide forgivable loans to eligible small businesses on a competitive basis. Threshold requirements for applying are: Business must be located in the designated area ( see attached interactive map ), must have no more than 25 employees, must exhibit 30% loss of revenue or greater due to COVID-19. See further eligibility requirements for applying, submittal instructions, and application. READ CAREFULLY to determine if your business is eligible before applying: Due date for applications is February 12, 2021. Email questions to candrews@clevelandtn.gov beginning January 18, 2021 through January 22, 2021. Applications will be available online on January 18, 2021 and are due by February 12, 2021.
Map for Eligibility https://gis.clevelandtn.gov/SBSFLoan
Application https://www.clevelandtn.gov/DocumentCenter/View/2191/CDBG--Forgivable-Loan-Program-Application---Round-2
Reporting Form https://www.clevelandtn.gov/DocumentCenter/View/2192/Reporting--Monitoring-Forms--Second-Round
Checklist https://www.clevelandtn.gov/DocumentCenter/View/2193/CDBG-Forgivable-Loan-Checklist-Round-2
