Financial Resources
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Akron Resiliency Fund
The Akron Resiliency Fund is a partnership between the City of Akron and the Western Reserve Community Fund, providing low-cost loans to help stabilize Akron's small businesses. Long term, this fund will continue in perpetuity, supporting growth in the small business community of Akron while encouraging further investment in our local economy.
Established businesses can apply for loans of between $10,000 and $100,000. Startup and early-stage businesses can apply for loans of between $10,000 and $30,000. Business financial statements will be used to determine the appropriate loan amount. These five-year loans are uniquely structured to help small business owners grow and thrive: for the first 6 months no interest accrues and no payments are due, and for the second 6 months only interest payments are required. These favorable terms provide the space needed to continue through the current economic downturn or to implement a new business strategy.
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Ohio Micro-Loan Program
This loan program is designed to stimulate the growth of new and existing businesses by providing micro-loans at 0% interest. The minimum loan amount is $10,000 to a maximum of $45,000. Loans will be repaid within five years for permanent working capital and seven years for equipment. The business must have its principal place of business and its business operations located in Ohio.
- Review program guidelines for detailed information.
- Download Ohio Micro-Loan Program fact sheet.
- CLICK HERE to apply.
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Women’s Business Enterprise Loan Program
This loan program is designed to stimulate the growth of existing women-owned businesses by providing loans at market rate or below market rate interest (currently up to 3%). The minimum loan amount is $45,000 up to a maximum of $500,000. Loans will be repaid within 10 years for equipment and machinery and 15 years for owner-occupied real estate. The business must have its principal place of business and its business operations located in Ohio.
Public Health Resources
- Centers for Disease Control and Prevention: COVID-19
- Ohio Department of Health: Resources for Local Health Districts and Providers, Economic Resources
- County Departments of Public Health: Summit, Portage, and Medina
- Healthcare Ready: COVID-19 Resources for the Healthcare and Public Health Community
Support Local Businesses
Support Local – A platform built by Gannett, a news media company that includes USA Today and the Akron Beacon Journal, that enables users to buy gift cards to local businesses for future use, thus providing financial assistance during the pandemic. Users of this platform can also add additional local businesses that are not already listed.
For additional information on supporting local businesses in Akron, visit https://supportlocalakron.com/.
Free Wi-Fi Connectivity
In an effort to provide those residents, employees and employers with WiFi connectivity throughout the COVID-19 pandemic, Summit County libraries are providing free internet access from their respective parking lots. For those in need of this free service, please visit the main website here, where you will find directions, availability and other helpful instructions on how to utilize their free services.
United Way of Summit County 2-1-1
United Way of Summit County’s 2-1-1 information and referral service maintains a database of over 16,000 services available to help Summit County residents meet their most basic needs. For small business owners that means small business financing, health insurance referrals, financial coaching and more. Dial 2-1-1, text your zip code to 898-211 or go online to 211summit.org.
To share specific ways that your business is being impacted, or to identify specific forms of assistance, send your insights to Brian Anderson, Senior Director of Research, Greater Akron Chamber, at banderson@greaterakronchamber.org