The City of Lorain's Department of Building, Housing and Planning is committed to supporting the success of Lorain's small businesses. We're excited to introduce the 360 Business Loan Program (360 BL), funded by HUD's Community Development Block Grant (CDBG) funds. The 360 BL Program offers low-interest loans with extended terms, aiming to support existing and new businesses in the City of Lorain.

Since 2020, the Department of Building, Housing and Planning staff has worked diligently to design and administered various programs addressing the negative economic impacts of COVID-19 on our small business community as a way to collect data and understand the Lorain business community’s needs. Additionally, BHP Staff administered a “Small Business Resources Assessment” Survey where many of the respondents noted they’re currently experiencing a gap in financing or limitations on capital and would like the City of Lorain to play a more supporting role in the small business community through funding opportunities.

In response, the City of Lorain has decided to launch a low-interest revolving loan program specifically tailored to small businesses looking for financing for the following projects including but not limited to, façade and interior renovations, repairs, and working capital for gap financing.