More Help to Grow Your Business

For our region's economy to prosper we must encourage more people to start high-growth potential companies. One way to encourage them is to make more growth capital available.

The Cuyahoga County Commissioners showed their willingness to support the cause by creating a $750,000 loan pool for young tech startups. NorTech is helping the county evaluate loan applications. For small companies that show promise, the North Coast Technology Fund will offer loans between $25,000 and $125,000 at five percent interest. This fund is similar to a loan program that the county runs for manufacturers with MAGNET. 

Slowly we are replacing old, declining industries with emerging global growth industries like fuel cells, bioscience and information technology.

The loan program is part of a growing network of resources available to the region's entrepreneurs looking to growth their businesses. Two other resources worth checking out are the region's business incubators, which work together through NEOinc and the innovation fund run by the Lorain County Community College Foundation.